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 www.ats.net
Press contact:
Gerald Reischl, Vice President Corporate Communications
Tel: +43 3842 200 4252; Mobile: +43 664 8859 2452; g.reischl@ats.net
Investor Relations contact:
Philipp Gebhardt, Senior Director Investor Relations
Tel: +43 3842 200 2274; Mobile: +43 664 7800 2274; p.gebhardt@ats.net
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13
8700 Leoben / Austria
www.ats.net
07-March-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com