Outlook & Key Figures

AT&S expects the good demand to continue in the most important customer segments in the coming six months; at the same time the usual seasonality of the fourth quarter and low visibility as well as continued price pressure, especially for IC substrates, are expected.

Provided that the macroeconomic environment remains stable and the USD/EUR currency relation stays at a similar level as in the past financial year, AT&S expects an increase in revenue of 20-25% for the financial year 2017/18. The EBITDA margin should range between 19-22%. Higher depreciation for predominantly new production lines of roughly € 15.0 million in the financial year 2017/18 will have an influence on EBIT.

According to IFRS;H1 2016/17H1 2017/18Change
in EUR million01.04.-30.09.201601.04.-30.09.2017
EBITDA52.1104.4> 100%
EBITDA margin (in %)13.521.5-
EBIT-5.836.9> 100%
EBIT margin (in %)-1.57.6-
Profit/loss for the period-14.815.4> 100%
Cash flows from operating activities before changes in working capital36.987.2> 100%
Net CAPEX142.595.0-33.4%
Equity ratio37.6*36.1-
Net debt380.5*435.714.5%
Earnings per average number of shares outstanding (in EUR)-0.380.40> 100%
*As of 31/03/2017

According to IFRS; € in millions2015/162016/17Change
01.04.2015 - 31.03.201601.04.2016 - 31.03.2017
EBITDA margin (%)22.016.1-
EBITDA adjusted*180.2194.88.1%
EBITDA margin adjusted (%)*23.725.4-
EBIT margin (%)10.10.8-
EBIT adjusted*103.2119.015.3%
EBIT margin adjusted (%)*13.615.5-
Profit/loss for the year56.0-22.9> -100%
Cash flow from operating activities before changes in working capital145.990.5-38.0%
Net CAPEX254.3240.7-5.3%
Equity ratio (%)42.337.6-
Net debt263.2380.544.6%
Earnings per average number of shares outstanding (EUR)1.44-0.59> -100%
Number of shares, weighted average (thousands of shares)38,85038,850-
* Adjusted for Chongqing effects and release of provision for restructuring