Over the first nine months of the financial year 2013/14 AT&S increased revenue by about 11% to EUR 451m and earnings before interest, taxes, depreciation and amortisation (EBITDA) by some 34% to EUR 100m. The group also confirmed its full-year guidance.
In the first three quarters of the financial year 2013/14 AT&S Group posted sales of around EUR 451m, a year-on-year improvement of around 11%. EBITDA advanced by around 34% from EUR 75m to EUR 100m and earnings per share climbed by EUR 0.24 to EUR 1.08. “Our continued strong performance in the third quarter was chiefly attributable to the excellent capacity utilisation at all plants, and to sustained demand for high-value applications from our mobile devices and automotive customers. Taking seasonal factors into account, we expect developments in the next few months to be in step with our guidance,” explained CEO Andreas Gerstenmayer.
The results* in detail:
|01.04. 31.12.2013||01.04. 31.12.2012 1)|
|Before non-recurring items||After non-recurring items||Before non-recurring items||After non-recurring items|
|Profit before tax||34.37||8.21|
|Consolidated net income||33.44||30.44||5.59||5.59|
|Earnings per share**||1.18||1.08||0.24||0.24|
|No. of shares outstanding (average)***||28,193||23,322|
1) Adjusted according to IAS 19 (revised)
* in accordance with IFRS; in EUR m.
*** Thousands of shares
Mobile Devices scores with outstanding quality and high-end technology
The Shanghai plant reported strong capacity utilisation once again in the third quarter. Overall, revenue for the first nine months of the year was up by about 10% or EUR 23m on the same period of 2012/13. The importance of the AT&S’s stringent quality standards was recently reflected in the Best Quality Performance 2013 award presented to the group in its capacity as lead supplier for smartphones to one of the world’s largest smartphone manufacturers, ZTE.
Strong performance in Industrial & Automotive
Demand remained high, particularly for high-value printed circuit boards from automotive customers. Total revenue for Industrial and Automotive rose by about 12% or around EUR 21m year on year.
There were indications of significant market interest in AT&S’s patented ECP® technology, which confirms the correctness of the decision to address one of the most important current technology trends, while setting the signal for revenue gains in the medium term.
IC substrate plant in Chongqing
Strategic alignment of the Chongqing plant to the new integrated circuit (IC) substrates business is progressing according to plan. Over the past nine months the group’s investment activities have focused mainly on infrastructure projects.