(PR title cont'd) ... no impact on stated growth and operating margin targets given available market capacity
Premstaetten, Austria (16 December 2016) - ams (SIX: AMS), a leading worldwide manufacturer of high performance sensor and analog solutions, has decided to withdraw from the envisaged wafer fabrication facility project where ams was project partner to the State of New York (USA) amid further delays outside of ams’ control.
This decision will have no impact on ams’ stated financial targets of 30% CAGR (compound annual growth rate) revenue growth for the coming three years and 30% operating (EBIT) margin from 2019 onwards. ams has access to sufficient and cost-attractive external capacity at its technology manufacturing partners to support this expected growth.
Alexander Everke, CEO of ams, commented, we received a warm welcome from day one from the State of New York, the Utica community, Oneida County, and Mohawk Valley EDGE. The relationship with Mohawk Valley EDGE and Empire State Development was a very positive experience and we remain open to future opportunities for cooperation. However, this decision was taken after thorough evaluation of the wafer fabrication project and its current status. We see no impact to our financial targets including our stated profitability expectations as we have a strong mix of internal and ample external capacity available to implement our strategy.