AT&S is a leading global manufacturer of high-quality IC substrates and printed circuit boards as well as a developer of pioneering interconnect technologies for the core areas of mobile devices, automotive & aerospace, industrial, medical and high-performance processors for VR and AI applications. 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 facility for IC substrates is currently being ramped up in Kulim, Malaysia. A European competence center with connected series production for IC substrate technologies is being built in Leoben. Both sites will start production in the financial year 2024/25. The company currently employs more than 13,500 people.

Leading Player with Above-average Growth

AT&S Führender Player mit überdurchschnittlichen Wachstum
Our products surpass even the highest demands. This is why we have been an indispensable partner to the semiconductor industry for many years.
  • Broad product portfolio to serve all growth markets

  • Long-standing customer relationships with technology and market leaders

  • Technology innovator through continuous R&D activities

  • Significant cost benefits due to locations in Europe and Asia as well as quality standard with outstanding process know-how and highest productivity and efficiency

  • High level of ecological, social and corporate responsibility

  • High-end focus with low risk of newcomers to the IC substrates market

A Look into the Future

FY 26/27 – Positive effects resulting from the projects in Austria and Malaysia


  • Revenue of approximately € 3.1 billion (CAGR +26%)


  • EBITDA margin of 27 – 32%
  • ROCE of >12% from start of production


  • Net debt/EBITDA: <3 (may be temporarily exceeded)
  • Equity ratio: ~20%

Current price development

AT&S at a Glance

AT&S Qualitätsführer mit herausragendem Prozess-Knowhow wie auch exzellenter Produktivität und Effizienz

Unique market position

Quality leader with outstanding process know-how and excellent productivity and efficiency

Growth-oriented Strategy

Megatrend-driven markets with attractive growth potential

Addressing growth opportunities through targeted investments

AT&S Wachstumsorientierte Strategie
AT&S Nachhaltige Profitablilität

Sustainable Profitability

Over the past years, AT&S consistently outperformed the printed circuit board and substrate market

EBITDA margin of 20 – 25% above industry average

Strong cash flow generation and, consequently, improved internal financing capability

Solid balance sheet and attractive dividend policy

Management board and supervisory board

In order to further expand and safeguard its excellent market position, AT&S focuses on continuity in leadership and on clear visions. Our management team, led by CEO Andreas Gerstenmayer, ensures that the company always remains in balance and targets in the areas of innovation, sustainability and expansion do not conflict with one another. More information on our management team can be found here:

Annual Report 2023/24


Philipp Gebhardt

Philipp Gebhardt

Vice President Investor Relations

@ E-Mail
Johannes Mattner

Johannes Mattner

Manager Investor Relations

@ E-Mail

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