The company announced in a press release on Friday that discussions with potential investors had ended. The state holding company ÖBAG will not get involved. AT&S is also lowering its forecast for the 2026/2027 financial year. Annual sales of 3.1 billion euros are now expected, compared to the previous 3.5 billion euros.
Management also expects an equity ratio of around 20 percent for 2026/2027, after previously more than 30 percent. The board of directors wants to forego a dividend for the 2023/24 financial year, as the statement continued. In the previous year, 0.40 euros per share had been distributed.
Last November, the company announced that it was preparing a large capital increase and further capital measures “to support the company’s further development”. There was talk of a possible entry by ÖBAG. Recently there was silence, but with the canceled discussions this option is now off the table. ÖBAG did not want to comment on this when asked by the APA.
“AT&S will now obtain binding offers”
Instead of the capital increase, AT&S now intends to sell the plant in Ansan, Korea, which primarily serves the medical market. In the 2023/24 financial year, the plant’s sales amounted to 76 million euros, and the EBITDA amounted to 38 million euros. “Based on existing, non-binding offers and the existing high level of interest in the transaction, AT&S will now obtain binding offers,” said the release.
The circuit board manufacturer was recently confronted with economic difficulties and the associated lower sales and slumps in profits. The sales forecast for the 2023/24 financial year has already been revised downwards. The annual results will be published on May 14, 2024 and the annual report on June 6, 2024.
The AT&S share price went on a rollercoaster ride after the company’s announcement. Initially, the shares rose sharply and peaked at a gain of over six percent to 23 euros, before they quickly fell again and slipped into the loss zone by over two percent. The shares were last listed on the Vienna Stock Exchange on Friday afternoon with a loss of 1.2 percent at 21.36 euros.
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