Added to YB: 2026-06-18
Pitch date: 2026-06-16
ATS.VI [neutral]
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Author Info
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Company Info
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, together with its subsidiaries, manufactures, distributes, and sells printed circuit boards in Austria, Germany, rest of Europe, China, rest of Asia, and the Americas.
Market Cap
EUR 7.6B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
20.94
P/E
-176.58
EV/Sales
5.00
Sector
Electronic Equipment, Instruments and Components
Category
growth
AT&S (ATV Austria): AI demand rewrites the economics of the business
ATS.VI (update): AI substrate demand transforms thesis. New guidance: FY rev +45-55% (vs prior 30-35%), EBITDA +~50%, margins 32-37%, plus positive FCF despite ~€2bn capex. AMD + hyperscaler deals with prepayments/LT commitments de-risk Malaysia expansion. Stock +350% YTD, no longer cheap. Risks: cyclicality, Ibiden/Unimicron capacity adds, glass substrate tech shift.
Read full article (2 min)