EANS-Adhoc: AT & S Austria Technologie & Systemtechnik Aktiengesellschaft / AT&S adjusts outlook for the financial year 2019/20 / AT&S production sites in China affected by the coronavirus
Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Leoben – The spreading of the coronavirus disease is currently impacting the production of AT&S in China. Due to this development, revenue will fall short of expectations in the fourth quarter of the current financial year. AT&S has therefore adjusted its revenue and earnings forecast (previously: revenue at the prior-year level of EUR 1,028.0 million; EBITDA margin between 20% and 25%) and expects revenue to amount to EUR 960 million, with an EBITDA margin in the range of 18% to 20%.
Subject to staff availability, the plants in Shanghai and Chongqing II will start production in the week of 10 February 2020 after extended New Year’s holidays. The Chongqing I plant resumed production at reduced capacity after the New Year’s celebrations as planned. AT&S currently considers the following aspects to influence the development in the coming months: a deterioration of the current general conditions, the provision of production materials and personnel, processes in the supply chain and the demand situation.
AT&S currently employs roughly 7,000 people in China and produces the majority of the Group’s revenue there. The objective is to resume production as soon as possible in order to process existing orders and contracts.
end of announcement euro adhoc
issuer: AT & S Austria Technologie & Systemtechnik Aktiengesellschaft Fabriksgasse 13
phone: 03842 200-0
indexes: ATX GP, WBI, ATX, VÖNIX
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AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
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