LEOBEN, AUSTRIA — AT&S reported that it saw record revenues of €1.07 billion (US$1.05 billion) in the first half of its financial year, an increase of 50% from the previous year's EUR 698 million. The company said the positive development was primarily driven by the additional capacity for ABF substrates in Chongqing, China.

After the good development in the first half of the year, AT&S expects the market environment to deteriorate in the second half of the year and now anticipates revenue in the mid-single-digit percentage range below the previous projection of EUR 2.2 billion.

“We monitor the different developments in our target markets very closely and are preparing to manage volatilities and limited visibility, as we did in comparable situations in the past. Among other things, we are preparing for different scenarios regarding our cost position and our investment projects,” said CEO Andreas Gerstenmayer. “In general, we are convinced that the major digitalisation and electrification trends are still intact. Depending on the further development of the overall environment, delays may occur."

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