Apple’s circuit board supplier AT&S reports 13.2% rise in Q1 core profit

Austrian chipmaker AT&S on Tuesday reported a 13.2 per cent increase in its first-quarter core profit and forecast its profitability would increase in the second quarter on strong demand from smartphone makers and industrial customers.

“Despite the downward revisions of economic forecasts, the global megatrends in the electronics industry are still intact overall – especially due to progressing digitalisation, the new 5G mobile communication standard and massive data volume growth,” the company said.

AT&S, which produces circuit boards for smartphones and tablets and supplies firms such as Apple, Intel and major European auto suppliers, said it does not expect the auto industry to quickly recover to pre-crisis levels.