AT&S posts increased sales and profitability in first three quarters

Published On: January 22, 20141.8 min read366 words

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. – 31.12.201301.04. – 31.12.2012 1)
Before non-recurring itemsAfter non-recurring itemsBefore non-recurring itemsAfter non-recurring items
Gross profit93.6157.30
EBITDA margin22.9%22.2%18.4%18.4%
EBIT margin10.3%9.6%5.2%5.2%
Profit before tax34.378.21
Consolidated net income33.4430.445.595.59
Earnings per share**
No. of shares outstanding (average)***28,19323,322

1) Adjusted according to IAS 19 (revised)

* in accordance with IFRS; in EUR m.

** EUR

*** 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.

Advanced Packaging

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.