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AT&S reports significant increase in earnings

AT&S posted a considerable rise in revenue and profit in the first half of the financial year 2013/14.

In the first half of the financial year 2013/14 AT&S Group posted sales of around EUR 300 million (m), a year-on-year improvement of some 18%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) advanced by around 50% to EUR 65m. Earnings per share increased from EUR 0.09 to EUR 0.94. “The significant improvement in results is attributable to continued strong capacity utilisation at our plants and a more favourable product mix. Taking seasonality into account, as things stand we are forecasting revenue growth of five percent with an EBITDA margin of 18-20 percent for the current financial year,” explained CEO Andreas Gerstenmayer.

The results* in detail:

01/04 – 30/09/201301/04 – 30/09/2012 1)
before non-recurring itemsafter non-recurring itemsbefore non-recurring itemsafter non-recurring items
Revenue299.93254.77
Gross profit60.4630.67
EBITDA68.4265.4143.9143.91
EBITDA margin22.8%21.8%17.2%17.2%
EBIT33.5730.578.538.53
EBIT margin11.2%10.2%3.4%3.4%
Profit before tax24.322.66
Consolidated net income24.9621.962.062.06
Earnings per share**1.060.940.090.09
No. of shares outstanding (average)***23,43323,322

1) Adjusted according to IAS 19 (revised)

* In EUR m

** EUR

*** Thousands of shares

Mobile Devices continues strong performance

First half year segmental revenue was up by about 19% on the same period a year earlier thanks to an optimised product mix, continued strong demand for high-value HDI printed circuit boards and high capacity utilisation at the Shanghai plant.

Industrial & Automotive report sustained high demand

The trend towards increased use of high-value printed circuit boards in automotive technology remains unbroken. The medical technology sector also continued its positive development. Overall, revenue for Industrial & Automotive was up by about 15% or EUR 17m on the same period of 2012/13. The Industrial & Automotive segment now accounts for 44% of consolidate revenue.

Advanced Packaging

Revenue generated by sales of AT&S’s patented ECP® technology tripled year on year, a development driven by further expansion of the customer portfolio.