LEOBEN, AUSTRIA – AT&S is projecting less revenue than originally anticipated for its 2024/2025 financial year due to the volatile European market and production delays at two new plants.

The company said it anticipates the price pressure and volatile ordering behavior of a key customer will continue, as well as the weakness in the European automotive and industrial markets. In addition, high-volume production at the new plants will start one to two quarters later than originally planned, meaning that they are no longer expected to contribute to revenue in the financial year.

For those reasons, the company now projects revenue of €1.5 billion to €1.6 billion ($1.6 billion to $1.7 billion) for the year after previously expecting between €1.6 and €1.7 billion ($1.7 billion and $1.8 billion).