LEOBEN, AUSTRIA – AT&S saw revenue decline by 3% year over year for the first quarter of its fiscal year, totaling €349 million ($380.8 million).

"As expected, we are still operating in a difficult market environment where forecasts keep changing," said CEO Andreas Gerstenmayer. "The market is recovering as projected, but the recovery is slower than anticipated. We expect the situation to stabilize towards the end of the current financial year. Thanks to the timely intensification of our efficiency and cost optimization programs and the progressing customer diversification, we were able to increase revenue slightly over the previous quarter, while EBITDA even rose by 63%. This upward trend confirms the ongoing transformation process on which we continue to work very hard.

"We are convinced that AT&S is well positioned in market segments benefiting greatly from digitalization and electrification, and that artificial intelligence will bring further opportunities. To that effect, we are swiftly driving our projects in Kulim and Leoben forward and are highly satisfied the progress achieved," Gerstenmayer continued. "We will start production at the two new plants in Malaysia and Austria in the current financial year and position our global IC substrate triangle Chongqing-Kulim-Leoben in line with market requirements."