EQS-Adhoc: 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

EQS-Ad-hoc: 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.

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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 [1] www.ats.net

 

 

Press contact:

Gerald Reischl, Vice President Corporate Communications

Tel: +43 3842 200 4252; Mobile: +43 664 8859 2452; [2]g.reischl@ats.net

 

Investor Relations contact:

Philipp Gebhardt, Senior Director Investor Relations

Tel: +43 3842 200 2274; Mobile: +43 664 7800 2274; [3]p.gebhardt@ats.net

 

 

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft

Fabriksgasse 13
8700 Leoben / Austria
[4] www.ats.net

 

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07-March-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: AT&S Austria Technologie & Systemtechnik AG
Fabriksgasse 13
8700 Leoben
Austria
Phone: +43 (1) 3842200-0
E-mail: ir@ats.net
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

1576995  07-March-2023 CET/CEST

References

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2. g.reischl@ats.net
3. p.gebhardt@ats.net
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