AT&S Projects Revenue Growth and Market Recovery in FY 2024/25

AT&S has announced a challenging fiscal year 2023/24 with revenue falling to €1,550 million, a decrease from the previous year’s €1,791 million. Despite the downturn, the company anticipates a recovery in FY 2024/25 with expected revenue ranging between €1.7 billion to €1.8 billion. The adjusted EBITDA margin is projected to lie between 25% and 27%.

The company plans to start high-volume production at its new plants in Kulim and Leoben towards the end of FY 2024/25. This expansion is part of its strategy to diversify its customer base for IC substrates and tackle the price pressures through intensified efficiency programs, which include a reduction of up to 1,000 employees.

AT&S's strategic emphasis remains on AI technology, anticipated to drive future business growth. The upcoming production capabilities are expected to bolster the company's position and enable them to cater to the increasing demand for technologically advanced IC substrates.