AT & S Austria Technologie und Systemtechnik Aktiengesellschaft

EANS-Adhoc: AT & S Austria Technologie und Systemtechnik Aktiengesellschaft / AT&S adapts outlook for the financial year 2016/17

  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 solely responsible for the content of this announcement.
Earnings Forecast

The current business development of AT&S is characterized by good capacity
utilization and demand in all relevant customer segments. Existing production
capacities are limited though, and combined with current lower prices and the
product mix, this will have an influence on the revenue development for the
financial year 2016/17.

Moreover, based on relevant customer demand, AT&S is preparing the next
technology generation in the core business for the segment Mobile Devices &
Substrates, earlier than originally planned. The start of serial production for
this technology is scheduled for the beginning of the second half of calendar
year 2017. The required technological adjustments of the production equipment
will lead to temporarily reduced capacities at the Shanghai plant and decrease
the revenue potential for the financial year 2016/17. Based on this technology,
AT&S is positioning itself as a high-end supplier in continuously growing
customer segments.

The flatter ramp of the IC substrates plant in Chongqing, China, will
additionally negatively influence the original guidance for revenue and
profitability for the financial year 2016/17.

The Management Board now assumes revenue growth of 4-6% for the financial year
2016/17 (original guidance: 10-12%) and an EBITDA margin of 15-16% (original
guidance: 18-20%). AT&S expects - unchanged and as originally forecast - higher
depreciation for the financial year 2016/17 of an additional EUR 40 million from
the Chongqing project compared to the financial year 2015/16.
AT&S will strictly pursue the cost reduction and optimization programs already
introduced. The Management Board is convinced that the appropriate technology
investments will secure the long-term profitable growth course - despite the
temporary challenges.

Further inquiry note:
Elke Koch, Director Investor Relations & Communications 
Tel: +43 3842 200-5925; Mobile: +43 676 8955 5925;

end of announcement                               euro adhoc 

issuer:      AT & S Austria Technologie und Systemtechnik Aktiengesellschaft
             Fabriksgasse  13
             A-8700 Leoben
phone:       03842 200-0
sector:      Technology
ISIN:        AT0000969985
indexes:     WBI, Prime Market, VÖNIX, ATX GP
stockmarkets: official market: Wien 
language:   English

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