EQS-Adhoc: AT&S Austria Technologie & Systemtechnik AG: AT&S and SO.MA.CI.S. sign agreement for sale of AT&S Korea; AT&S adjusts outlook for 2024/25 and 2026/27

EQS-Ad-hoc: AT&S Austria Technologie & Systemtechnik AG / Key word(s):
Disposal/Change in Forecast
AT&S Austria Technologie & Systemtechnik AG: AT&S and SO.MA.CI.S. sign
agreement for sale of AT&S Korea; AT&S adjusts outlook for 2024/25 and
2026/27

23-Sep-2024 / 17:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.

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AT&S and SO.MA.CI.S. sign agreement for sale of AT&S Korea to SO.MA.CI.S.;
AT&S adjusts outlook for 2024/25 and 2026/27 accordingly

 

Disclosure of inside information pursuant to Article 17 MAR

 

Leoben – AT&S and SO.MA.CI.S. S.p.A. have signed an agreement for the sale
of all shares of AT&S in AT&S Korea CO., LTD. (and thus the plant in
Ansan, Korea) to SO.MA.CI.S. for a purchase price of € 405 million (equity
value).

 

In addition, an interest rate was agreed between March 31, 2024, the
locked box date, and the completion of the transaction (closing). Dividend
distributions to AT&S AG since the Locked Box Date will be credited
against the purchase price. The transaction is offset by a book value
disposal of € 73 million (as at March 31, 2024).

 

The transaction is subject to the closing of the acquisition of
SO.MA.CI.S. by Bain Capital Private Equity (Europe) LLP and merger control
clearances and is expected to be completed on or before March 2025.

 

Subject to the above conditions of the completion of the acquisition of
SO.MA.CI.S. by Bain Capital and merger control clearances, AT&S adjusts
the outlook for 2024/25 and 2026/27:

• Taking into account the transaction, AT&S expects to generate annual
revenue of between € 1.6 billion and € 1.7 billion in the financial
year 2024/25 (previously: € 1.7 billion and € 1.8 billion). Excluding
effects from the start-up of the new production capacities in Kulim
and Leoben as well as one-off costs from the implementation of the
cost optimization and efficiency program of up to € 88 million and the
income from the sale of the plant in Korea, the adjusted EBITDA margin
is expected to be between 24 and 26 % (previously: 25 and 27 %).
• AT&S then also assumes that revenue of around € 3 billion (previously:
around € 3.1 billion) will be generated in the financial year 2026/27
and that the EBITDA margin will remain between 27 and 32 %.

 

 

 

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced
Technologies & Solutions
AT&S is a globally leading manufacturer of high-end IC substrates and
printed circuit boards. AT&S industrialises
leading-edge technologies for its core business segments IC Substrates,
Mobile Devices, Automotive & Aerospace, Industrial and Medical. AT&S has a
global presence with production sites in Austria (Leoben, Fehring) and
plants in India (Nanjangud), China (Shanghai, Chongqing) and Korea (Ansan
near Seoul). A new high-end production site for IC substrates is currently
being established in Kulim, Malaysia. In Leoben, a European competence
centre including series production is being built.
The company employs roughly 14,000 people. For further information please
visit [1] www.ats.net

 

 

 

 

End of Inside Information

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23-Sep-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: AT&S Austria Technologie & Systemtechnik AG
Fabriksgasse 13
8700 Leoben
Austria
Phone: +43 (1) 3842200-0
E-mail: ir@ats.net
Internet: www.ats.net
ISIN: AT0000969985, AT0000A09S02
WKN: 922230
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Vienna Stock Exchange (Official Market)
EQS News ID: 1993715

 
End of Announcement EQS News Service

1993715  23-Sep-2024 CET/CEST

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