Half Year 2026 AT & S Austria Technologie & Systemtechnik AG Earnings Call Transcript

Nov 4, 2025 / 10:59 AM GMT

Release Date Price: Kč789 (-3.78%)

Transcript

Key Points

Positve

AT&S Austria Technologie & Systemtechnik AG (ASAAF) achieved a significant turnaround in operating free cash flow, moving from a negative €345 million to a positive €125 million.
The company reported a revenue growth from €800 million to €846 million, translating to a 15% growth in dollar terms despite a 10% unfavorable exchange rate impact.
EBITDA increased from €157 million to €175 million, with the margin improving to 21%, indicating enhanced profitability.
The company successfully ramped up operations at its new sites in Kulim and Hindenburg, certifying all intended products within the planned timeframe.
AT&S Austria Technologie & Systemtechnik AG (ASAAF) has diversified its customer base, reducing dependency on a few key clients and expanding its reach in both the PCB and IC substrate markets.

Negative

The company faces uncertainty in the market environment, particularly due to the ongoing trade tensions between the United States and China.
There are concerns about potential shortages in key materials like Tlas, which could limit growth in the IC substrate industry.
Despite improvements, the equity ratio decreased from 23.3% to 19.2%, impacted by foreign exchange effects.
The company has significant debt repayments due in the next fiscal years, with €245 million due in 2025/26 and €485 million in 2026/27.
AT&S Austria Technologie & Systemtechnik AG (ASAAF) remains cautious about overpromising growth, particularly in the substrate business, due to past overinvestment issues.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ATSV.VI - AT & S Austria Technologie & Systemtechnik AG
Half Year 2026 AT & S Austria Technologie & Systemtechnik AG Earnings Call
Nov 04, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Hello, ladies and gentlemen.

Thank you for standing by.

My name is Enrique, your operator for today.

Welcome and thank you for joining the AT&S conference call on the results for the first half year, 2025-026.

Throughout today's recorded presentation, all participants will be in a listen-only mode.

The presentation will be followed by a question-and-answer session.

If you would like to ask a question later on, you may press 9 and the star key on your telephone.

If any participant has difficulty hearing the conference, please press 0 and the hash key for operator assistance.

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