Q3 2026 AT & S Austria Technologie & Systemtechnik AG Earnings Call Transcript
Key Points
- AT&S Austria Technologie & Systemtechnik AG (WBO:ATS) reported a revenue increase from EUR1.1 billion to EUR1.3 billion, marking a 10% year-to-date growth.
- The company achieved a positive operating free cash flow of EUR223 million, demonstrating strong cash discipline.
- The PCB market grew by 15% year-over-year, driven by increased demand in high-end computing, networking, and advanced packaging applications.
- AT&S Austria Technologie & Systemtechnik AG confirmed its full-year guidance and the guidance for '26-'27, indicating confidence in future performance.
- The company achieved its cost-saving target of EUR130 million in the third quarter and expects to exceed this target by year-end.
- Currency fluctuations, particularly the weak US dollar, created notable FX headwinds, partially offsetting top-line and operational improvements.
- The company faces challenges from glass substrate shortages, which could impact its ability to meet demand.
- Despite a strong Q3, the full-year sales outlook remains conservative, implying a potential sequential step down in Q4.
- The introduction of new technologies like CoWoP presents technical challenges and uncertainties about future market adoption.
- AT&S Austria Technologie & Systemtechnik AG's equity ratio decreased to 20.8% due to FX headwinds, mainly from the US dollar.
Ladies and gentlemen, thank you for standing by. I'm Manish Makabir, your operator today. Welcome, and thank you for joining the AT&S conference call on the results for the first three quarters of 2025-'26. (Operator Instructions)
I would now like to turn the conference over to Mr. Philipp Gebhardt.
Thank you, Mandy. Good morning or afternoon, ladies and gentlemen. Welcome to the AT&S nine months '25-'26 conference call. I'm delighted to welcome our new CFO, Gerrit Steen, to his quarterly -- first quarterly call for AT&S. As he has just officially joined us yesterday, our VP of Finance, Silvo Leitner, as in the previous call, will present the figures and answer any financial questions.
However, in the recent months, we have received an increasing number of questions about current technical developments. We see that as a positive sign that the focus is shifting from our balance sheet back to our core business. Therefore, we would like
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