AT&S Adjusts Outlook for the Current Financial Year 2024/25

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For the 2024/25 financial year, the management assumes that the price pressure and volatile ordering behaviour of a key customer will continue. The weakness in the European automotive and industrial markets is also expected to continue. In addition, high-volume production at the two new plants will start one to two quarters later than originally planned, meaning that they are no longer expected to contribute to revenue in the financial year. Accordingly, the costs incurred until then are reported as start-up costs.

For these reasons, the company is adjusting its outlook for the 2024/25 financial year.

The revenue and EBITDA contribution of the plant in Ansan will continue to be included in the respective items of the consolidated income statement until the sale process is completed (IFRS 5, Disposal Group). The proceeds from the sale will not be included in the adjusted EBITDA margin.

AT&S now expects to generate annual revenue of between € 1.5 and 1.6 billion in the financial year 2024/25 [previously: € 1.6 and 1.7 billion (excluding revenue from the plant in Ansan) and € 1.7 and 1.8 billion (including revenue from the plant in Ansan)].

Excluding the effects from the start-up of the new production capacities in Kulim and Leoben and one-off costs from the implementation of the cost optimization and efficiency program of up to € 110 million (previously: up to € 88 million), the adjusted EBITDA margin is expected to be between 24 and 26% [previously: 24 and 26% (excluding the contribution from the plant in Ansan) and 25 and 27% (including the contribution from the plant in Ansan)].