Article Tools

AT & S Austria records high customer demand

Published: October 9, 2017; 10:01 · (FriedlNews)

AT&S has been recording very high customer demand and utilisation at the capacity limit at almost all plants, especially in the last three months. The ramp-up of the new technology generation in the core business has developed better and more rapidly than originally expected due to a very positive trend in demand on customers' side. In addition, further efficiency improvements have been achieved for IC substrates in Chongqing. These programmes will be pursued continuously.

Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europewide distribution. The issuer is responsible for the content of this announcement.

Earnings Forescast
09.10.2017

Leoben - AT&S has been recording very high customer demand and utilisation at
the capacity limit at almost all plants, especially in the last three months.
The ramp-up of the new technology generation in the core business has developed
better and more rapidly than originally expected due to a very positive trend in
demand on customers' side. In addition, further efficiency improvements have
been achieved for IC substrates in Chongqing. These programmes will be pursued
continuously.

The positive business development in general is primarily attributable to the
effect of general efficiency measures and the fact that technological challenges
at the introduction of the new technologies were handled better now. The
beneficial trend was supported by a positive product mix and - based on a weaker
development of the Chinese Renminbi in relation to the Euro in the last six
months - a favourable exchange rate development in production costs.

Based on that, the Management Board after today's meeting, now expects an
increase in revenue of 20-25% (original forecast: 10-16%), an EBITDA margin of
19-22% (original forecast 16-18%) and additional depreciation of roughly EUR 15
million (original forecast: roughly EUR 25 million) for the financial year 2017/
18 provided that the market environment and the exchange rate development remain
stable.

This development, leading to the revised guidance for the financial year 2017/
18, is an important interim goal to achieve the medium-term and long-term
financial targets (EBITDA margin of >20%, ROCE of 12%) of AT&S and the
introduced measures and achieved improvements are significant steps to return to
the expected profitability. This is key to position AT&S also in future as a
high-tech partner for it's customers and to finance the investments required
therefor.

AT&S will announce half year figures on November 3, 2017.

Further inquiry note:
Elke Koch, Director Investor Relations & Communications
Tel: +43 3842 200-5925; Mobile: +43 676 8955 5925; e.koch@ats.net

Marina Konrad, Head of Corporate Communications
Tel: +43 3842 200-5423; Mobile: +43 676 8955 5423; m.konrad@ats.net

end of announcement euro adhoc
--------------------------------------------------------------------------------

issuer: AT & S Austria Technologie und Systemtechnik Aktiengesellschaft
Fabriksgasse 13
A-8700 Leoben
phone: 03842 200-0
FAX:
mail: e.koch@ats.net
WWW: www.ats.net
ISIN: AT0000969985
indexes: WBI, VÖNIX, ATX GP
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/18136/aom

***ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS
RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER***

OTE0001 2017-10-09/10:01

(C) Copyright APA-OTS Originaltext-Service GmbH and the respective issuer.