AT&S posts Q4 after-tax loss on weaker demand and cuts dividend

AT&S Austria Technologie & Systemtechnik will propose a lower dividend for fiscal year 2023 after reporting an after-tax loss for the fourth quarter due to lower sales caused by declining demand.

The Austrian semiconductor components maker posted an after-tax loss of 85 million euros ($92.5 million) for the quarter to March 31, compared with a profit of 42 million euros in the same period a year ago.

Earnings before interest, taxes, depreciation and amortization for the quarter were 0 euros, compared with 106 million euros in the year-ago fourth quarter. The company's quarterly adjusted Ebitda margin was 5.7% for the quarter, down from 26.2% in the same period last year.

AT&T

T

$16.85 $0.03 +0.18%

Capital Structure

Market Cap

120.5B

Enterpr. Val.

267.2B

Valuation

P/E

9.1

P/S

1.0

Dividends

Yield

6.6%

Payout

59.9%

Open $16.82

Day range $16.73 - $16.92

52 week range $13.43 - $18.16

Revenue in the quarter declined 32% to €302 million from €443 million.

The company said the results were partly due to lower demand for integrated circuit substrates.

AT&S ended fiscal 2023 with Ebitda of €417 million, up 19% from fiscal 2022, it said. Revenue for the full fiscal year rose 13% to $1.8 billion.

The board proposed a dividend of EUR0.40 per share, down from EUR0.78 in the previous fiscal year, which was supplemented by a special dividend of EUR0.12 per share.

The company's outlook for fiscal year 2024 calls for sales in the range of EUR1.7 billion to EUR1.9 billion. AT&S assumes an adjusted Ebitda margin in the range of 25% to 29%