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:      [email protected]
   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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