EANS-News

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft / First half of 21/22 - AT&S continues strong growth course

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Earnings

Leoben -

* Half-year revenue increases by 30% to EUR 698 million (PY: EUR 538 million)
* Adjusted EBITDA at EUR 140 million, up 23% on the previous year
* Guidance for FY 21/22 increased: revenue growth of 21-23% (previously: 17-
19%), adjusted EBITDA margin expected in the range of 21-23%
* Even more favourable impact of positive market environment and major projects
in China and Malaysia on medium-term guidance



Leoben - AT&S reports a very positive revenue development in the first half of
2021/22.

"Our performance in the first half of the year once again shows the positive
dynamics in our sector and proves that we are consistently implementing the
right strategy. Despite the volatility in some of our markets, we see a
continued sharp increase in demand for our products. As we expand our capacity,
we will be able to serve this demand even better in the future," says CEO
Andreas Gerstenmayer. "We expect our revenue to increase by 21 to 23 percent
already this year. Our strategy is also proving successful in the medium term,
so that we now anticipate revenue of EUR 3.5 billion in the financial year 2025/
26 due to positive product mix developments," Gerstenmayer comments on the
further development.

Consolidated revenue rose by 29.7% to EUR 697.6 million in the first half of
2021/22 (PY: EUR 537.8 million). Adjusted for currency effects, the increase in
consolidated revenue even amounted to 34.8%. As expected, the additional
capacity in Chongqing to cover growing demand for ABF substrates directly
contributed to this growth. The broader application portfolio for mobile devices
and the demand for module printed circuit boards also supported the growth
trend. In the AIM segment, all three areas contributed to revenue growth, with
the Industrial segment recording the sharpest increase. In the Automotive
segment, the shortage of semiconductors has so far not led to any significant
limitations on revenue, but the company will continue to monitor the development
in this segment very closely.

EBITDA increased by 17.7% from EUR 111.2 million to EUR 130.9 million. While
revenue growth had a positive impact on earnings, the start-up costs in
Chongqing and higher material, transport and energy costs reduced earnings. In