Brief: AT&S Signs Agreement To Sale Its Shares in AT&S Korea, adjusts FY outlook

AT & S Austria Technologie & Systemtechnik AG

23/09/2024 16:22

Sept 23 (Reuters) - AT & S AUSTRIA TECHNOLOGIE &
SYSTEMTECHNIK AG  ATSV.VI :
    * AT&S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AG: AT&S AND
SO.MA.CI.S. SIGN AGREEMENT FOR SALE OF AT&S KOREA; AT&S ADJUSTS
OUTLOOK FOR 2024/25 AND 2026/27
    * AT & S - AND SO.MA.CI.S. S.P.A. HAVE SIGNED AN AGREEMENT
FOR
SALE OF ALL SHARES OF AT&S IN AT&S KOREA CO., LTD. (AND THUS
PLANT IN ANSAN, KOREA) TO SO.MA.CI.S. FOR A PURCHASE PRICE OF
EUR 405 MILLION (EQUITY VALUE)
    * AT & S - DIVIDEND DISTRIBUTIONS TO AT&S AG SINCE LOCKED
BOX DATE
WILL BE CREDITED AGAINST PURCHASE PRICE
    * AT & S - TRANSACTION IS OFFSET BY A BOOK VALUE DISPOSAL OF
EUR
73 MILLION (AS AT MARCH 31, 2024)
    * AT & S - TRANSACTION IS SUBJECT TO CLOSING OF ACQUISITION
OF
SO.MA.CI.S. BY BAIN CAPITAL PRIVATE EQUITY (EUROPE) LLP AND
MERGER CONTROL CLEARANCES
    * AT & S - TRANSACTION IS EXPECTED TO BE COMPLETED ON OR
BEFORE
MARCH 2025
    * AT & S - EXPECTS TO GENERATE ANNUAL REVENUE OF BETWEEN EUR
1.6
BILLION AND EUR 1.7 BILLION IN FINANCIAL YEAR 2024/25
    * AT & S - ADJUSTED EBITDA MARGIN IS EXPECTED TO BE BETWEEN
24 AND
26 % (PREVIOUSLY: 25 AND 27 %)
    * AT & S - EBITDA MARGIN WILL REMAIN BETWEEN 27 AND 32 % FOR
2026/27

Source text for Eikon:  ID:nEQ26DjjDa 
Further company coverage:  ATSV.VI 

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