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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.