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AT&S Austria Technologie & Systemtechnik AG
Earnings Release • Mar 7, 2023
736_rns_2023-03-07_0005b2a0-f6a0-45b1-9575-5604ac324f74.html
Earnings Release
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News Details
Ad-hoc | 7 March 2023 17:30
AT&S Austria Technologie & Systemtechnik AG: AT&S adjusts growth pace to current market conditions and postpones medium-term targets by one year to financial year 2026/27
AT&S Austria Technologie & Systemtechnik AG / Key word(s): Change in Forecast
AT&S Austria Technologie & Systemtechnik AG: AT&S adjusts growth pace to current market conditions and postpones medium-term targets by one year to financial year 2026/27
07-March-2023 / 17:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
AT&S adjusts growth pace to current market conditions and postpones medium-term targets by one year to financial year 2026/27
Public disclosure of inside information according to article 17 MAR
Leoben – Due to the current market environment, AT & S Austria Technologie & Systemtechnik Aktiengesellschaft is adapting the investment project in Kulim, Malaysia, until further notice. The growth rate will be adjusted to the market conditions and the medium-term targets will be postponed by one year to the financial year 2026/27.
The main reasons for this are:
- High inventory levels across the IC substrates supply chain combined with weaker demand will lead to reduced market growth in 2023.
- AT&S is therefore in dialog with a major customer in order to adjust capacities and financing contributions to the current market environment. AT&S currently assumes that parts of the investment project in Kulim will be realized at a later date than previously planned.
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced Technologies & Solutions
AT&S is a globally leading manufacturer of high-end printed circuit boards and IC substrates. AT&S industrialises leading-edge technologies for its core business segments Mobile Devices & Substrates, Automotive, Industrial and Medical. AT&S has a global presence with production sites in Austria (Leoben, Fehring) and plants in India (Nanjangud), China (Shanghai, Chongqing) and Korea (Ansan near Seoul). A new high-end production site for IC substrates is currently being established in Kulim, Malaysia. The company employs roughly 15,000 people. For further information please visit www.ats.net
Press contact:
Gerald Reischl, Vice President Corporate Communications
Tel: +43 3842 200 4252; Mobile: +43 664 8859 2452; [email protected]
Investor Relations contact:
Philipp Gebhardt, Senior Director Investor Relations
Tel: +43 3842 200 2274; Mobile: +43 664 7800 2274; [email protected]
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13
8700 Leoben / Austria
07-March-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | AT&S Austria Technologie & Systemtechnik AG |
| Fabriksgasse 13 | |
| 8700 Leoben | |
| Austria | |
| Phone: | +43 (1) 3842200-0 |
| E-mail: | [email protected] |
| Internet: | www.ats.net |
| ISIN: | AT0000969985, AT0000A09S02 |
| WKN: | 922230 |
| Indices: | ATX |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1576995 |
| End of Announcement | EQS News Service |