AT & S Austria Technologie & Systemtechnik (ATS) Q2 2027 earnings summary

Executive summary

• Record Q2 revenue of €681.9m, up 52.4% YoY; EBITDA was €244.0m, EBIT €153.0m and profit €125.4m.

• H1 revenue rose 45.4% to €1,230.6m and EBITDA increased to €409.0m; FY guidance was confirmed.

Financial highlights

• Q2 EBITDA margin reached 35.8% versus 23.3% YoY; EPS was €3.05 versus a loss of €0.31.

• H1 EBITDA margin was 33.2%; EBIT was €226.4m versus €0m, and profit was €166.2m versus a €63.5m loss.

• Q2 revenue grew 52% YoY and 23% QoQ; H1 growth was 45.4% reported and 46% at constant currency.

• More than 30% of Q2 growth was volume-driven, led by high-performance computing and Microelectronics; pricing and improved mix also contributed.

• New customer agreements contributed €35m directly to Q2 P&L, adding a high-single-digit percentage to growth.

Outlook and guidance

• FY 2026/27 guidance confirmed: constant-currency revenue growth of 45–55%, EBITDA margin of 32–37%, net CAPEX of ~€1.0–1.2bn and net debt/EBITDA below 2.

• Positive operating free cash flow is expected for the full year; spending is weighted to H2.

• Electronics Solutions expects significant YoY growth acceleration in H2; expansion projects are expected to contribute increasingly from next year.

• Guidance depends on supply, geopolitical conditions and currency developments.