AT&S boss: “We are only at the beginning when it comes to AI”

“We are growing at all locations and will need all of them in the future. Production at the headquarters in Leoben/Styria is at full capacity, “we are currently having to turn down customers,” says Mertin. More could be produced, but there are currently shortages at some suppliers due to the geopolitical situation. These should be resolved by the middle of the second quarter thanks to the diversification of the supply chain.

High demand for IC substrates

There is currently high demand, especially from new customers in the area of ​​chip systems. All the big hyperscalers, roughly Amazon, Google or Microsoftwould upgrade their AI data centers and so would chip manufacturers like AMD or Ampere require so-called IC substrates from AT&S.

The tiny ones Connecting parts between high-performance chip and all electronic functionalities are used in data centers to keep growing electricity consumption in check. Other areas of application include power plants, smartphones or cars. Smartphones require IC substrates as an interface to data storage and power supply. “It’s no longer just about the chip alone, but about overall integration and communication,” explains Mertin.

Expansion of the Chongqing plant in China

In order to be able to fulfill a large order from a US customer, AT&S is planning the capacity at the location in Chongqing, Chinato expand. The costs for this would be financed within the framework of long-term customer agreements. In the Work Kulim in Malaysia capacity could be expanded at any time. Mertin also sees himself as well positioned geopolitically. “We have a positive reputation in China and the USA.”

Strong increase in sales, but slight loss in 2025/2026

In the past 2025/26 financial year, AT&S was able to increase sales thanks to high demand by 12.7 percent on a tight note 1.8 billion euros increase. The pre-tax result was positive at 66 million euros, but the bottom line was that the company wrote down Minus of 25.6 million euros. Therefore, the dividend will be canceled this time too. In 2024/25, AT&S made a profit of almost 90 million euros due to the sale of a plant. The number of employees remained stable at 13,250 despite the strict austerity measures.

High cost savings

Overall, AT&S was able to achieve this in the past financial year Cost base around 170 million euros reduce and thus significantly exceeded the target. The previous year, costs had already been reduced by 120 million euros. A further cost reduction of 110 million euros is planned for the current year.

An increase in sales of up to 35 percent is expected this year

For this year, the company is aiming for a currency-adjusted result Increase in sales by 30 to 35 percent to. Furthermore, one will EBITDA margin of 25 to 29 percent targeted. The investment volume is expected to increase to 400 million euros, after 178 million euros in the 2025/26 financial year. On the one hand, investments have been postponed, but on the other hand, they are reacting to the increasing demand for IC substrates AT&S CFO Gerrit Steen. A “significant proportion” of this should also go to Leoben.

Mertin on the stock market rally: “Don’t promise what I can’t deliver”

The strong performance on the stock market – the price has risen again since the beginning of the year after soaring last year by 200 percent to – explains Mertin with the trust of investors. “I don’t promise what I can’t deliver and I’ve never broken my promises.” Mertin, who has now been CEO for a year, has streamlined the board and brought in Steen as chief financial officer. Both have plenty of experience, says Mertin, “we already know what we shouldn’t do.”