AT & S Austria Technologie & Systemtechnik AG

AT&S announced an expanded long-term collaboration with Marvell Technology to increase advanced IC substrate capacity for next-generation AI and cloud infrastructure. Marvell Technology is the additional customer identified in AT&S's previously announced expansion of its Kulim manufacturing site in Malaysia, which includes the fit-out of Plant 2 and the construction of a new manufacturing facility for IC substrate cores and advanced packaging. The agreement builds on the companies' existing relationship and is supported by long-term customer commitments that AT&S said provide visibility for future growth while supporting a disciplined investment strategy. AT&S CEO Michael Mertin called the deal an important milestone and said the two companies are well positioned to capture opportunities created by the global build-out of AI infrastructure, while Marvell Senior Vice President and Chief Supply Chain Officer Vinay Krishna said the expanded collaboration strengthens Marvell's supply chain foundation as its data center business expands. AT&S, which employs around 15,000 people and operates production sites in Austria, China, Malaysia and India, said the expansion responds to industry shifts including the move from monolithic chips to chiplet-based designs and rising demand for larger substrate formats, higher integration density and increased layer counts.

AT&S Austria Technologie & Systemtechnik AG reported first-quarter revenue of approximately EUR 550 million, a 40% increase in constant currency year-on-year, and a turnaround in earnings per share to EUR 1.93 from a negative EUR 1.55 in the prior year. EBITDA rose 134% to EUR 165 million, yielding an EBITDA margin of just over 30%, while EBIT surged more than 500% to EUR 73 million with an EBIT margin of over 13%. The Microelectronics segment saw revenue jump 93% and its EBITDA margin improve to more than 42%. The company confirmed full-year guidance for revenue growth of 45% to 55% and an EBITDA margin of 32% to 37%.