AT&S and SO.MA.CI.S. sign agreement for sale of AT&S Korea to SO.MA.CI.S.; AT&S adjusts outlook for 2024/25 and 2026/27 accordingly

Disclosure of inside information pursuant to Article 17 MAR

Leoben – AT&S and SO.MA.CI.S. S.p.A. have signed an agreement for the sale of all shares of AT&S in AT&S Korea CO., LTD. (and thus the plant in Ansan, Korea) to SO.MA.CI.S. for a purchase price of € 405 million (equity value).

In addition, an interest rate was agreed between March 31, 2024, the locked box date, and the completion of the transaction (closing). Dividend distributions to AT&S AG since the Locked Box Date will be credited against the purchase price. The transaction is offset by a book value disposal of € 73 million (as at March 31, 2024).

The transaction is subject to the closing of the acquisition of SO.MA.CI.S. by Bain Capital Private Equity (Europe) LLP and merger control clearances and is expected to be completed on or before March 2025.

Subject to the above conditions of the completion of the acquisition of SO.MA.CI.S. by Bain Capital and merger control clearances, AT&S adjusts the outlook for 2024/25 and 2026/27:

• Taking into account the transaction, AT&S expects to generate annual revenue of between € 1.6 billion and € 1.7 billion in the financial year 2024/25 (previously: € 1.7 billion and € 1.8 billion). Excluding effects from the start-up of the new production capacities in Kulim and Leoben as well as one-off costs from the implementation of the cost optimization and efficiency program of up to € 88 million and the income from the sale of the plant in Korea, the adjusted EBITDA margin is expected to be between 24 and 26 % (previously: 25 and 27 %).
• AT&S then also assumes that revenue of around € 3 billion (previously: around € 3.1 billion) will be generated in the financial year 2026/27 and that the EBITDA margin will remain between 27 and 32 %.

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced Technologies & Solutions
AT&S is a globally leading manufacturer of high-end IC substrates and printed circuit boards. AT&S industrialises
leading-edge technologies for its core business segments IC Substrates, Mobile Devices, Automotive & Aerospace, Industrial and Medical. AT&S has a global presence with production sites in Austria (Leoben, Fehring) and plants in India (Nanjangud), China (Shanghai, Chongqing) and Korea (Ansan near Seoul). A new high-end production site for IC substrates is currently being established in Kulim, Malaysia. In Leoben, a European competence centre including series production is being built.
The company employs roughly 14,000 people. For further information please visit www.ats.net