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AT&S stock gains 11.52% as earnings recovery meets outlook

Published on 11/11/2026 at 17:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
AT&S reported its strongest quarterly revenue on record and maintained its full-year targets. Expansion projects remain central to the investment case.

AT&S earnings recovery gathers pace

  • Record second-quarter revenue and stronger profitability lifted AT&S results in fiscal 2026/27.
  • Management confirmed its full-year growth, margin and capacity-expansion targets.
  • Working-capital needs and major investment spending remain key risks for cash generation.
At&S, AT0000969985, Illustration mit AI erstellt.
At&S, AT0000969985, Illustration mit AI erstellt.

AT&S stock traded at 125.80 euros on Lang & Schwarz at 17:06 CET on Wednesday, November 11, 2026, 11.52 percent above the Xetra close of Tuesday, November 10, at 112.80 euros.

What has changed since our last report

The fresh market move is the key addition since the previous report published on Tuesday, November 10. The Lang & Schwarz quote has risen from 112.90 euros at 17:12 CET that day to 125.80 euros at 17:06 CET on Wednesday, an increase of 11.43 percent. The move is separate from the Xetra day comparison above.

Record quarter resets earnings

AT&S reported its second-quarter results on Thursday, November 5, 2026. In its official release, the company said revenue reached 681.9 million euros, up from 447.4 million euros in the year-earlier quarter. Currency-adjusted growth was 52.4 percent, making it the highest quarterly revenue in AT&S history.

EBITDA rose to 244.0 million euros from 104.1 million euros, while the margin widened to 35.8 percent from 23.3 percent. EBIT reached 153.0 million euros, compared with 16.3 million euros a year earlier, and profit for the period was 125.4 million euros after a loss of 7.6 million euros.

Investment keeps cash flow in focus

For the first half of fiscal 2026/27, revenue reached 1,230.6 million euros and EBITDA 409.0 million euros. Operating cash flow was 100.4 million euros, down from 209.4 million euros, while operating free cash flow was negative at 11.0 million euros as working-capital needs, safety inventories and reduced factoring weighed on liquidity.

Management confirmed currency-adjusted revenue growth of 45 to 55 percent and an EBITDA margin of 32 to 37 percent for fiscal 2026/27. Planned capital expenditure remains between 1.0 billion and 1.2 billion euros, with capacity expansions in Kulim and other sites described as being on schedule.

Company profile and market setting

AT&S develops advanced substrates and printed circuit boards for digital industries including artificial intelligence infrastructure, automotive, aerospace, industrial and medical applications.

AT&S company facts

  • Company: AT&S Austria Technologie & Systemtechnik AG
  • ISIN: AT0000969985
  • Ticker: ATS.VI
  • Lang & Schwarz quote: 125.80 euros on November 11, 2026, at 17:06 CET
  • Xetra close: 112.80 euros on November 10, 2026
  • Fiscal period: Second quarter and first half of fiscal 2026/27

Austria's broader equity market is tracked in the ATX market overview.

Further developments can be followed in more news and analyses on AT&S stock.

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