AT&S Experiences Positive Momentum in Q1 2025/26

AT&S Austria Technologie & Systemtechnik AG has reported a positive revenue increase of 14% to €399 million for Q1 2025/26, compared to the previous year's €349 million. Investment in AI is fueling the market for IC substrates and printed circuit boards, as indicated by CEO Michael Mertin. The company plans significant capacity expansions in Malaysia and Austria.

Despite a challenging market, EBITDA improved by 9% to €71 million. However, exchange rate fluctuations continue to affect earnings. Start-up costs for new plants impacted the EBITDA margin, which slightly fell to 17.7% from 18.5%. Depreciation and finance costs rose, leading to a net loss of €56 million.

An increase in cash flow from operations to €184 million was noted, driven by a reorganized international factoring program. The company forecasts revenue of €820 million and an EBITDA margin of 20% for the first half of 2025/26.