EANS-Adhoc: AT & S Austria Technologie & Systemtechnik Aktiengesellschaft / AT&S decides further expansion of the IC Substrates division with an investment volume of approximately € 200 million EAE

3/24, 5:56 PM (Source: euro adhoc)

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24.03.2021

Leoben -

* Medium-term guidance: Two-billion-euro revenue mark to be exceeded in 2023/24
  with EBITDA margin of 25-30%
* Growing market demand for ABF substrates makes capacity expansion necessary

The strong demand for ABF substrates, which are produced at the location in
Chongqing, China, continues unabated. As demand is also expected to be strong in
the future, the Management Board made the decision to fully expand the area
available in Chongqing for the production of ABF substrates. An additional
investment volume of approximately EUR 200 million has been budgeted for this
purpose in the next four years.

This capacity expansion will continue to support company growth and enables AT&S
to position itself with new customers. Plant III in Chongqing is currently in
the installation and qualification phase. Production will already start during
the financial year 2021/22. ABF substrates are currently the dominating
technology for the application in high-performance computers, which can be found
in the heart of most servers, personal computers, 5G base stations and, in the
future, also in cars. By 2025, AT&S aims to be among the three largest ABF
substrate suppliers worldwide and to achieve its goal to become an interconnect
solution provider in line with the "More than AT&S" strategy. With this
additional capacity, the Management Board is adjusting the medium-term guidance
and now expects to exceed the two-billion-euro mark in 2023/24 already
(previously 2024/25), and an EBITDA margin of 25 to 30%.

At the same time, AT&S is reviewing suitable options for growth steps in order
to be prepared for potential market developments. The production of high-tech
interconnect solutions is one of AT&S's key pillars and is therefore crucial for
the future of the company. "We must be visionary in the way we think and we are
constantly working on the topics of technology development and production," says
AT&S CEO Andreas Gerstenmayer. "We are always on the lookout for new approaches
and opportunities, we identify and develop capabilities and skills and strive to
recognise today the technologies that will drive digitalization in the future."

Further inquiry note:
Gerald Reischl, Director Communications & Public Relations 
Mobile: +43 664 8859 2452; g.reischl@ats.net

Gerda Königstorfer, Director Investor Relations 
Mobile: +43 676 8955 5925; g.koenigstorfer@ats.net

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13
8700 Leoben / Österreich

end of announcement                         euro adhoc
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issuer:       AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
              Fabriksgasse  13
              A-8700 Leoben
phone:        03842 200-0
FAX:          
mail:         ir@ats.net
WWW:          www.ats.net
ISIN:         AT0000969985
indexes:      ATX GP, WBI, ATX, VÖNIX
stockmarkets: Wien
language:     English

EAX0017    2021-03-24/17:56

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