AT&S Records Slight Upward Trend in the First Quarter

AT&S Austria Technologie & Systemtechnik AG reported a 1% increase in Q1 2024/25 revenue to €349 million compared to Q4 2023/24. However, this was 3% lower than the previous year's Q1 revenue. Adjusted EBITDA reached €97 million, corresponding to a margin of 27.6%.

CEO Andreas Gerstenmayer indicated that the market is recovering slower than anticipated and highlighted the company's ongoing efficiency and cost optimization programs. He also noted progress in customer diversification.

Despite the challenging market, AT&S remains optimistic about opportunities in digitalization and electrification. New plants in Malaysia and Austria are expected to start production within the financial year.

In comparison with Q1 2023/24, consolidated revenue dropped by 3%, and adjusted EBITDA increased by 4%. EBITDA margin, however, fell to 18.5%. The company faced strong price pressures and increased depreciation and finance costs.

Outlook for 2024/25 suggests a recovery in demand, especially in the second half of the year. However, price pressure is expected to persist. AT&S confirms its annual revenue guidance of €1.7 to €1.8 billion for 2024/25, with an adjusted EBITDA margin of 25-27%.