EQS-News: AT&S Austria Technologie & Systemtechnik AG / Key word(s):
Strategic Company Decision/Change in Forecast
AT&S expands Kulim site to support long-term customer demand and deepen
strategic technology partnerships
15.06.2026 / 13:11 CET/CEST
The issuer is solely responsible for the content of this announcement.
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AT&S expands Kulim site to support long-term customer demand and deepen
strategic technology partnerships
• Strategic investment positions AT&S to capture sustained AI-driven
demand while maintaining financial discipline
• Total investment of € 1.5 to 2.0 billion planned, supported by
long-term customer commitments
Leoben, June 15, 2026 – AT&S announced the expansion of its Kulim
manufacturing site, based on agreements with its customer AMD and another
leading technology company. This reinforces AT&S’s strong technological
position and deepens long-standing partnerships with leading customers in
the semiconductor industry. Building on the successful ramp-up of plant 1,
the expansion includes the fit-out of the existing structure of plant 2
and the construction of a new manufacturing site for IC substrate cores
and advanced PCBs.
“Our technological leadership, strong partnerships with the global players
in the semiconductor industry, and proven ability to scale advanced
manufacturing facilities positions us as the partner of choice for the
next wave in growth,” says AT&S CEO Michael Mertin. “The expansion of our
site in Kulim underscores the trust our customers place in our
capabilities and our shared commitment to long-term profitable growth.”
Responding to structural industry shifts
The expansion comes amid unprecedented demand driven by the global
build-out of an artificial intelligence (AI) infrastructure. While the
semiconductor industry has historically been cyclical, the current
AI-driven cycle stands out in both scale and durability, reflecting a
structural shift in how computing systems are designed, developed, and
scaled. The rapid evolution of semiconductor architecture is fundamentally
reshaping demand for IC substrates. The transition from monolithic chips
to chiplet-based designs has already driven significant demand growth. The
shift is now being further accelerated by AI, which is emerging as a
long-term growth driver for the industry.
Demand is expanding beyond GPUs to include CPUs, memory, and increasingly
complex heterogeneous system architectures. The rise of agentic AI is
intensifying computational requirements, driving the need for larger, more
advanced substrate solutions. At the same time, customers are placing
increasing emphasis on performance per watt, energy efficiency, and new
system architectures. This drives demand for higher integration density,
larger substrate form factors, increased layer counts, and faster
innovation cycles.
Financial discipline and risk mitigation
Based on agreed upon key terms, the € 1.5 to 2.0 billion investment is
fully supported and financed by long-term customer commitments. “We are
structuring these agreements to support long-term growth while maintaining
financial discipline,” says AT&S CFO Gerrit Steen. “At the same time, they
support our objective of further strengthening our balance sheet and
financial flexibility.”
Increased outlook
Key financial elements of the agreements, which remain subject to final
negotiation and execution, include payments from customers, which are
expected to positively impact revenue and earnings in the current year.
Full operational impact will materialize over the next couple of years.
In the financial year 2026/27, AT&S now expects constant-currency revenue
growth of 45 to 55% compared to the previous year (previously: 30 to 35%).
The expected EBITDA margin of 32 to 37% means another significant increase
in profitability (previously: 25 to 29%). Driven by the expansions, the
management plans now CAPEX of roughly € 1.0 to 1.2 billion for 2026/27
(previously: € 400 million) with a positive operating free cash flow.
The forecast assumes no significant deterioration of the geopolitical
situation or in the currently tight supply of key materials such as
fiberglass mats. The management continues to closely monitor these
developments and remains prepared to adapt as needed.
AT&S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced
Technologies & Solutions
AT&S is a leading global manufacturer of high-end IC substrates and
printed circuit boards. AT&S develops and produces leading-edge
interconnect technologies for key digital industries: mobile devices,
automotive & aerospace, industrial, medical and high-performance computing
for AI applications. With production sites in Austria (Leoben, Fehring),
China (Shanghai, Chongqing), Malaysia (Kulim), India (Nanjangud) and a
European competence center for R&D and IC substrate production in Leoben,
AT&S is actively shaping the digital transformation – through
forward-looking investments in research and development and the
responsible use of resources. The company currently employs around 14,000
people. Further information can also be found at [1] www.ats.net
Media download:
In the AT&S media portal [2] https://ats.canto.de/v/press you find media
material on AT&S.
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15.06.2026 CET/CEST This Corporate News was distributed by [3]EQS Group
View original content: [4]EQS News
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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 Dusseldorf, Frankfurt,
Hamburg, Hanover, Munich, Stuttgart, Tradegate BSX; Vienna
Stock Exchange (Official Market)
EQS News ID: 2346182
End of News EQS News Service
2346182 15.06.2026 CET/CEST
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