Austria's AT&S Q2 revenue jumps on capacity expansion, maintains full-year forecast

Overview

• Austria's high-end PCB maker reported record fiscal Q2 revenue, up 52% yr/yr

• Company posted fiscal Q2 net profit of €125 mln, reversing a loss a year ago

• Company confirmed full-year outlook, citing strong demand and capacity expansions

Outlook

• AT&S confirms FY 2026/27 revenue growth of 45–55% at constant currency

• Company expects FY 2026/27 EBITDA margin of 32–37%

• AT&S plans FY 2026/27 CAPEX of €1.0–1.2 bln and positive operating free cash flow

Result Drivers

• CAPACITY EXPANSION - Co said record Q2 revenue was mainly driven by higher utilization and ramp-up of new capacities

• HIGHER VOLUMES AND PRICING - Co attributed improved EBITDA to higher volumes, better product mix and improved pricing environment

• STRONG DEMAND - Co said strong demand across key end markets supported results

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy"

• Wall Street's median 12-month price target for AT & S Austria Technologie & Systemtechnik AG is €302.50, about 131.6% above its November 4 closing price of €130.60

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 17 three months ago

Reuters Recommended Reads

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• Nov 3 - Arista Networks Q3 revenue beats estimates on strong momentum across customer sectors

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)