LEOBEN, AUSTRIA – AT&S Austria Technologie & Systemtechnik now anticipates revenue of roughly €2.2 billion in the fiscal year 2022/23, up from previous guidance of €2 billion.

The startup of new production capacities at the company’s plant in Chongqing, China, is proceeding faster than previously expected, and customer orders show a higher-quality product mix, involving higher revenue and improved margins.

The Covid-related lockdown in Shanghai, China, had significantly lower negative effects on the Shanghai plant than expected in the company’s planning.

The expected exchange rate for the current year has been adjusted to 1.07 €/US dollar (previously 1.17 €/US dollar) and 6.9 €/RMB (previously 7.5 €/RMB).

The assumptions regarding startup costs (€75 million) and investment volume (€1.25 billion) remain unchanged.

The outlook is based on the assumption that the global economy will not enter a recession; no direct negative financial effects of the geopolitical upheavals will result from the war in Ukraine; and the Covid situation in China will not lead to any long-term production downtimes.