Austria · Delayed Price · Currency is EUR AT & S Austria Technologie & Systemtechnik Aktiengesellschaft Earnings Call Transcripts
Fiscal Year 2026
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Revenue reached EUR 1.7 billion with a 23% EBITDA margin, driven by high-end PCB and substrate demand in AI and data centers. Expansion in Malaysia and innovation in substrates support growth, while FX and material constraints remain key risks. Positive free cash flow is expected as new capacity ramps.
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Revenue rose 10% year-over-year to EUR 1.3 billion, with strong cash flow and margin recovery. Guidance for 2025/26 and 2026/27 is maintained, though FX headwinds and material shortages may limit upside. Capacity expansion and efficiency gains support future growth.
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Operating free cash flow turned positive and revenue grew 6% (15% in USD), with EBITDA margin up to 21%. Customer diversification, cost savings, and innovation initiatives strengthened the outlook, while guidance for FY 2025/26 remains robust despite FX and supply chain risks.
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Q1 saw 14% revenue growth and stable 18% EBITDA margin, with strong cash flow and cost savings offsetting FX and ramp-up costs. Guidance is limited to H1 due to uncertainties, with AI-driven demand supporting future growth.
Fiscal Year 2025
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Strong operating results delivered in a challenging market, with revenue up 3% and adjusted EBITDA margin at 26%. Major investments in Kulim and Leoben are ramping up, while cost savings and a strong balance sheet support future growth. Full-year guidance withheld due to market uncertainty.
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Revenue remained stable despite price pressure, with adjusted EBITDA rising due to cost savings. Net loss was €95 million, but liquidity and leverage are set to improve following the Ansan sale and ongoing financing measures. Guidance and growth targets are reaffirmed.
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Revenue and EBITDA margins remained under pressure from industry overcapacity and price declines, leading to a net loss and revised guidance, but cost-saving programs and asset sales are expected to improve leverage and liquidity as new facilities ramp up.
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Q1 2024/25 saw continued price pressure and a net loss, but efficiency programs drove a strong adjusted EBITDA margin. Guidance for FY 2024/25 and midterm remains intact, with major projects on track and CapEx focused on ramping new plants.