Ad-hoc release: AT&S increases guidance for the current financial year 2022/23

Published On: June 20, 20221.2 min read239 words

Disclosure of inside information according to Article 17 MAR

Leoben – AT & S Austria Technologie & Systemtechnik Aktiengesellschaft has essentially adjusted three of its assumptions regarding the future development within the current financial year:

  • The start-up of the new production capacities at the plant in Chongqing, China, is proceeding faster than previously expected and the update of customer orders shows a higher-quality product mix, which involves higher revenue and improved margins.
  • The Covid-related lockdown in Shanghai, China, had significantly lower negative effects on the Shanghai plant than expected in the company’s planning so far.
  • The expected exchange rate for the current year has been adjusted to 1.07 euros/US dollar (previously: 1.17 euros/US dollar) and 6.9 euros/RMB (previously: 7.5 euros/RMB).

Therefore, AT&S anticipates that revenue of roughly € 2.2 billion will be generated in the financial year 2022/23 (previously: approx. € 2 billion). The expected EBITDA margin adjusted for start-up costs will increase to 27 to 30% (previously: 23 to 26%). The assumptions regarding start-up costs (€ 75 million) and the investment volume (€ 1,250 million) remain unchanged. The outlook is based on the assumption that the global economy will not enter a recession, no direct negative financial effects of the geopolitical upheavals will result from the war in Ukraine and the Covid situation in China will not lead to any long-term production downtimes.

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