Brief: At & S Ebitda Decreased To Eur 268 Mln In First Three Quarters

AT & S Austria Technologie & Systemtechnik AG

01/02/2024 06:08

Feb 1 (Reuters) - AT & S AUSTRIA TECHNOLOGIE &
SYSTEMTECHNIK AG  ATSV.VI :
    * GETTING PREPARED FOR MARKET RECOVERY IN SECOND HALF OF
2024
    * GUIDANCE CONFIRMED FOR FINANCIAL YEAR 2026/27, ADJUSTED
FOR
2023/24
    * CONSOLIDATED REVENUE DECLINED BY 19% TO EUR 1,205 MILLION
IN
FIRST THREE QUARTERS OF FINANCIAL YEAR 2023/24
    * ADJUSTED FOR CURRENCY EFFECTS, CONSOLIDATED REVENUE FELL
BY 16%.
    * EBITDA DECREASED BY 36% FROM EUR 416 MILLION TO EUR 268
MILLION
IN FIRST THREE QUARTERS
    * ADJUSTED FOR START-UP COSTS IN KULIM, MALAYSIA, AND
LEOBEN,
AUSTRIA, EBITDA AMOUNTED TO EUR 321 MILLION (PY: EUR 452
MILLION), WHICH CORRESPONDS TO A DECREASE BY 29%.
    * DEPRECIATION AND AMORTISATION INCREASED BY EUR 2.0 MILLION
TO
EUR 205 MILLION
    * CASH AND CASH EQUIVALENTS DECLINED TO EUR 608 MILLION
    * AT&S EXPECTS MARKET ENVIRONMENT TO REMAIN CHALLENGING WITH
CONTINUED PRICE PRESSURE IN Q4 OF FINANCIAL YEAR 2023/24
    * MANAGEMENT IS PLANNING INVESTMENTS TOTALLING UP TO EUR 1.1
BILLION FOR FINANCIAL YEAR 2023/24 DEPENDING ON MARKET
ENVIRONMENT AND PROGRESS OF PROJECTS.
    * AT&S NOW EXPECTS TO GENERATE ANNUAL REVENUE OF AROUND EUR
1.6
BILLION IN FINANCIAL YEAR 2023/24
    * IC SUBSTRATE PRODUCTION WILL COMMENCE AT NEW PLANTS IN
KULIM AND
LEOBEN AT END OF 2024 AND CONTRIBUTE TO INCREASING REVENUE FROM
END OF FINANCIAL YEAR.
    * ASSUMES THAT REVENUE OF APPROXIMATELY EUR 3.5 BILLION WILL
BE
GENERATED IN FINANCIAL YEAR 2026/27

Source text for Eikon:  ID:nEQ57cwDFa 
Further company coverage:  ATSV.VI 

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