LEOBEN, AUSTRIA – AT&S' third quarter revenue of €391 million ($421 million) marked a 9% decrease from the third quarter of 2022.
The company saw revenue decline by 19% year over year to total €1.2 billion ($1.29 billion) for the first three quarters of its financial year.
"After a strong second quarter, demand in the third quarter was once again relatively weak in some market segments," said CEO Andreas Gerstenmayer. "The markets for mobile devices and industrial applications weakened significantly. While notebooks and PCs saw a slight recovery, the market for servers slowed down further. In this environment, we continued to push our efficiency programmes, which we intensified a year ago, to ensure a sustainable optimisation of our company’s cost structure.
"In the second half of 2024, a general market recovery is expected in our industry. We can consequently assume that capacity utilisation at our existing plants will improve and we are prepared for the rebound of the market with the go-live of our plant in Kulim, which is scheduled for the end of the year. We will therefore have a good chance to participate in a market recover with our improved cost structures."