AT&S

I'm Manish Meghabir, your operator today. Welcome and thank you for joining the AT&T conference call on the results for the first three quarters 2025-26. Throughout today's recorded presentation, all participants will be in a listen-only mode. The presentation will be followed by a question and answer session. If you would like to ask a question, you may press 9 and star on the telephone. If any participant has difficulty hearing the conference, please press 0 in the hashtag for the operator assistant. I would now like to turn the conference over to Mr. Philipp Gebhardt.

Thank you, Mandy. Good morning or afternoon, ladies and gentlemen. Welcome to the 18S 9 Months 2526 conference call. I'm delighted to welcome our new CFO, Gerrit Steen, to his first quarterly call for 18S. As he has just officially joined us yesterday, our VP of Finance, Silvo Leitner, as in the previous call, will present the figures and answer any financial questions. However, in the recent months, we have received an increasing number of questions about current technical developments. We see that as a positive sign that the focus is shifting from our Ben and Chief back to our core business. Therefore, we would like to use this call to answer these technical questions in a more qualified manner than if they were addressed to me. I am therefore particularly pleased to welcome our CTO, Peter Giesnig, today. He will address the two current trends directly in the presentation and will also be available to answer your questions afterwards. So after this introduction, please allow me to begin on page two. As planned, Kulim and Hinterberg are now contributing to revenue. This marks an important milestone in our capacity expansion and supports our top-line growth, bringing us up to 1.3 billion in revenue. We also see positive momentum on profitability. Product mix improvements and a more favorable pricing environment in Q3 have supported the margin recovery. In addition, Our efficiency programs continue to contribute to earnings and make a significant impact on our EBIT of €35 million. On the downside, currency fluctuations, in particular the weak US dollar, created notable FX headwinds, partially offsetting those top-line and operational improvements. Nevertheless, supported by the restart of our factoring program, we achieve a positive operating free cash flow of €223 million. demonstrating the strong cash discipline. And while global dynamics remain uncertain, we are seeing sentiment in our core markets becoming more positive. So based on the current performance and the outlook ahead, we have confirmed our full year guidance, as well as the guidance 26-27. Moving on to slide number three. The PCB market grew by 15% year over year, or 11% in Euro terms from 24 to 25. This growth is driven primarily by increased demand in high-end computing, networking, and advanced packaging applications. The IC substrate market also expanded last year, growing 18% or 14% in Euro. This continues to be supported by strong AI-related investments and ongoing data center build-out, which remain the growth engine. I'm continuing on page number four. After adjusting the number of our supervisory board members last year, we now have, as of February the 1st, also reorganized the management board. Instead of five members, the company will be led now by three. Our CEO, Michael Mertin, our CTO, Peter Giesnig, and our CFO, Gerrit Steen, to whom I would like now to give the floor.

Thank you Philip and good morning, good afternoon, good evening wherever you are everybody. My name is Gerrit Steen and I'm very happy and proud to have joined AT&T as CFO actually yesterday. So my immediate focus now is on gaining a detailed understanding of the business, the markets and the financial position of the company. But I can tell you already now that I have had very positive first impressions of the commitment and dedication I have seen across the organization. But for today, As Philipp already alluded to, I will primarily listen and leave the explanations about our last quarter in the very capable hands of my new colleagues. Certainly happy to support the discussion later where relevant. So thank you and over to you, Philipp, to guide us through the numbers.