SlideShare a Scribd company logo
1 of 40
Download to read offline
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
www.ats.net
AT&S
First choice for advanced applications
Investor and Analyst Presentation
May 2018
Investor and Analyst Presentation 1
Table of Contents
Company Overview
Strategy & Market
FY 2017/18 & Outlook
Annex
Investor and Analyst Presentation 2
AT&S – outstanding 2017/18 results
High-end interconnect solutions
for
Mobile Devices, Automotive, Industrial, Medical
Applications and Semiconductor Industry
Highest revenue
in AT&S history
€ 991.8 m (+21.7%)
EBITDA
€ 226.0 (+72.6%)
22.8%
EBITDA margin
46.5%
Equity ratio
9,981
employees
Dividend proposal
0.36 €
Investor and Analyst Presentation 3
Market Segments & Product Applications served by AT&S
3
Computer,
Communication,
Consumer
Smartphones, Tablets,
Wearables, Ultrabooks,
Cameras
…
Industrial
Machine-2-Machine
Communication,
Robots, Industrial
Computer,
X2X Communication
…
Automotive
Advanced Driver
Assistance Systems,
Emergency-Call, X2X
Communication
…
Medical
Patient
Monitoring,HearingAids,
Pacemaker,
Neurostimulation, Drug
Delivery, Prosthesis
…
IC substrates
High Performance
Computer, Microserver
…
Segment Mobile Devices & Substrates Segment Automotive, Industrial, Medical
Investor and Analyst Presentation 4
Our competitive advantages
Strategic focus on high-end technologies and applications
Outstandingprocess know-how and process efficiency
First high-end IC substrates manufacturer in China
Scale innovation and technology leverage between customer segments
Highest quality
Investor and Analyst Presentation 5
AT&S – Key Facts
542
590
667
763
815
992
102 127
168 168
131*
226
31 54
90 77*
7*
90
2012/13 2013/14 2014/15 2015/16 2016/17 2017/18
Revenue EBITDA EBIT
Good track record1 Balanced portfolio/Global customer base2
7%
Split revenue: Business Unit, FY 2017/18
Split revenue: Customer Region, FY 2017/18
based on sold to party
+9%
+13%
+14%
+7%
* Based on ramp-up effects for new plants in China
Revenue growth
€ in millions
66%
34%
Mobile Devices & Substrates
Automotive, Industrial, Medical
63%
21%
10%
6% Americas
Germany/Austria
Asia
Other European countries
+21.7%
Investor and Analyst Presentation 6
Global footprint ensures proximity
to supply chain & cost efficiency
1,008* 394* 1,143* 2,361* 4,694* 307*
Plant Shanghai
China
Plant Ansan
Korea
Plant Chongqing
China
Plant Leoben, Headquarters
Austria
Plant Fehring
Austria
Plant Nanjangud
India
AT&S plant & sales office
AT&S sales office
AT&S Headquarters
*Staff, Average, FTE, FY 2017/18; 73 employees in other locations
Investor and Analyst Presentation 7
Table of Contents
Company Overview
Strategy & Market
FY 2017/18 & Outlook
Annex
Investor and Analyst Presentation 8
From vision to strategy
Targets/Key Performance
Indicators
Strategy
Expansion of technology leadership
• Leading provider of new interconnect solutions
• Innovation revenue rate: > 20%
 Focus on high-end technologies and applications
 Focus on innovative solutions “More than AT&S”
Medium-term profitable growth
• Medium-term revenue target of € 1.5 billion
• Medium-term EBITDA margin target of 20-25%
 Focus on fast-growing and profitable applications
 Highest service level and customer orientation
 Operational excellence
 Focus on cash flow generation
Creation of shareholder value
• Long-term ROCE ≥ 12%
 Sustainable business development with focus on ROCE
 Transparent dividend payout
Vision:
“First choice
for advanced
application”
Sustainable Management
• Fulfill and further develop standards in the area
of quality, environment, health & safety…
 Human resource development
 Uphold business ethics
Investor and Analyst Presentation 9
Strategic focus on high-end technologies
AT&S Revenue structure in FY 2017/18 – based on technologies
High-end
HDI PCBs and
IC substrates
~ 30%
Single-sided (SS), double-sided (DS), multilayer- (ML),
flex and rigid-flex (RF) PCBs
~ 70%
High-end technology share > 75%
HDI and any-layer PCBs, Embedding, IC
Substrates
Complementary technology
share: < 25%
SS, DS, ML,
Flex, RF
Structure of general PCB market – based on technologies
Source: Prismark PCB Report 2Q17/ August 2017; AT&S Controlling
Investor and Analyst Presentation 10
Market trends
Miniaturization and modularization still the main trends
10
Yole , AT&S AG (2018)
Mobile Phone
Desktop
Notebook
Smartphone
Tablet
Convertible
Internet
of
Things
AR&VR
Virtual
Reality
Artificial
Intelligence
(AI)
Smart Home
Smart Cities
Smart Speaker
Smartwatch
Datacenter/
Server
Vehicle
electrification
Autonomous
driving
“real time”
Connectivity
(5G)
~ 2000 ~ 2010
COMPUTING &
CONNECTIVITY
+ SENSING + ACTUATING
~ 2020+
Investor and Analyst Presentation 11
PCB & IC substrates market – Overview
15.3 16.4
18.6
21.4
8.3
9.8
5.5
6.43.9
4.4
2.5
2.7
5.6
6.1
2018 2022
IC Substrates
Military/Aerospace
Industrial/Medical
Automotive
Consumer
Communication
Computing
3.1%
3.9%
4.3%
1.8%
3.5%
2.3%
59.7
67.2
Forecast for the total PCB & IC substrates market
until 2022: CAAGR of 3.0%
2.2%
USD in
billions
11
AT&S outperformed a flat market in the past 6 years and is set to
continue to do so also in the future.
100.8 103.2 96.4 94.6 103.2
108.9
123.1
140.8 150.4
183.0
60
80
100
120
140
160
180
200
2012* 2013 2014 2015 2016 2017
Index (2012 = 100)*
PCB & substrates market AT&S revenue
* Basis 2012:
PCB & substrates market: USD 55.7bn
AT&S revenue: € 542m
AT&S outperformed the market by scaling high-end any-layer technology and by leveraging
HDI technology to the Computer-, Consumer-, Automotive-, Industrial and Medical market.
Source: Prismark, February 2018, Yole April 2017
Investor and Analyst Presentation 12
Driving the industry: miniaturization & modularization
?
2003/04 2013 2017 202X
TYPE Mobile Phone Smartphone Smartphone All in One
PCB 125x55mm 85x20mm 80x20mm 25x25mm?
FORM FACTOR 1 0.25 0.23 0.06?
LINE/SPACE 100/100µm 40/40µm 30/30µm 10/10µm
TECHNOLOGY 1-n-1 Any-layer mSAP – Any-layer FO/SAP/mSAP
Investor and Analyst Presentation 13
Future positioning
as leading high-end interconnect solutions provider
Core business
New technologies
and interconnect
solutions
Extended technology
toolbox
Additional customers
Additional applications
Broader positioning in the
value chain
+
MorethanAT&S
Overview of the transformation from a high-end
PCB manufacturer to a high-end interconnect
solutions provider:
Investor and Analyst Presentation 14
Table of Contents
Company Overview
Strategy & Market
FY 2017/18 & Outlook
Annex
Investor and Analyst Presentation 15
Highlights in the financial year 2017/18
 Very successful year 2017/18
 Growth in all business segments above market average
 High operating performance (utilization, yield, efficiency)
 Position as technology leader in a challenging industry strengthened
 Ramp-up of the new mSAP lines in record time
 Operational improvement in the area of IC substrates
 Successful positioning in the high-frequency segment
 Balance sheet structure significantly strengthened through hybrid bond (€ 173.0 million)
 AT&S again listed on the Austrian lead index ATX
 Among the top performers of the Vienna Stock Exchange with share price gaining 113.8 % in FY 2017/18
Record levels for revenue, EBITDA and EBIT
15
Investor and Analyst Presentation 16
Preliminary results for the financial year 2017/18
 Revenue up 21.7% to € 991.8 million
 High-end printed circuit boards for mobile devices, especially mSAP and IC substrates, contributed to revenue growth
 Strong demand in the automotive, industrial, medical segments
 Negative exchange rate effects amounting to €-46.8 million had an impact on revenue
 Generally high operating performance and product mix improve earnings
 EBITDA margin: 22.8% (PY: 16.1%)
 EBIT margin: 9.1% (PY: 0.8%)
 EPS improved from €-0.59 to €1.38
 Capex of € 141.7 million financed from cash flow from operating activities
 Equity ratio increased to 46.5% due to issue of hybrid bond
 Debt repayment period (net debt/EBITDA) improved to 0.9 years
 Dividend of € 0.36 (PY: € 0.1) proposed
Record levels for revenue and EBITDA
16
Investor and Analyst Presentation 17
Revenue and EBITDA development
€ in millions
17
Split revenue FY 2017/18: Business Unit
Split revenue FY 2017/18: Customer Region
17
66%
34%
Mobile Devices & Substrates
Automotive, Industrial,
Medical
63%
21%
10%
6%
Americas
Germany/Austria
Asia
Other European countries
Revenue: YoY: + 21.7%: very good product mix, high demand and additional revenue from all plants
EBITDA: YoY: + 72.6 %: expansion capex, high operational performance, successful introduction & optimization of mSAP
199.8 199.6
286.0 280.2
225.9
814.9
991.8
28.8 29.7
74.7 85.9
35.7
130.9
226.0
Q4
2016/17
Q1
2017/18
Q2
2017/18
Q3
2017/18
Q4
2017/18
FY
2016/17
FY
2017/18
Revenue EBITDA and margin
16.1%30.7%26.1%14.9%14.4% 15.8% 22,8%
Investor and Analyst Presentation 18
Net CAPEX & Staff
Net CAPEX
FY 2017/18: CAPEX at a high level due to mSAP
upgrade and Chongqing phase 1
€ in millions
90.3
164.8
254.3
240.7
141.7
2013/14 2014/15 2015/16 2016/17 2017/18
* incl. contractors, FTE, average for the period
Staff*
Increase in number of employees by more than 2,900
7,027
7,638
8,759
9,526
9,981
2013/14 2014/15 2015/16 2016/17 2017/18
Investor and Analyst Presentation 19
Business Development – Mobile Devices & Substrates
113.7 113.6
197.6 199.6
137.2
486.5
648.0
12.4 20.9
59.4 75.0
23.7
68.5
179.0
Q4 2016/17 Q1 2017/18 Q2 2017/18 Q3 2017/18 Q4 2017/18 FY 2016/17 FY 2017/18
Revenue EBITDA
 Successful introduction of mSAP technology
 Operational improvements in IC substrates
 EBITDA improvements as a result of product mix
 Very strong Q2 and Q3, seasonality in Q4
 Price pressure on IC substrates remains
€ in millions (unless
otherwise indicated)
FY 2016/17 FY 2017/18 Change in %
Revenue 573.0 738.9 29.0%
Revenue with external
customers
486.5 648.0 33.2%
EBITDA 68.5 179.0 161.3%
EBITDA margin 12.0% 24.2% -
€ in millions; * Revenue with external customers
Revenue* and EBITDA
Investor and Analyst Presentation 20
84.9 85.0 87.3 79.3 87.7
324.1 339.3
14.5 9.7 13.2 9.3 14.5
51.5 46.8
Q4 2016/17 Q1 2017/18 Q2 2017/18 Q3 2017/18 Q4 2017/18 FY 2016/17 FY 2017/18
Revenue EBITDA
Business Development – Automotive, Industrial, Medical
 Continued growth path in all sub-segments,
particularly in Industrial and Medical
 EBITDA 2016/17: € 44.3 m (included a reversal
of provision of € 7.2 m)
 EBITDA margin impacted by negative FX effects,
higher raw material prices
€ in millions (unless
otherwise indicated)
FY 2016/17 FY 2017/18 Change in %
Revenue 351.5 364.9 3.8%
Revenue with external
customers
324.1 339.3 4.7%
EBITDA 51.5 46.8 (9.1%)
EBITDA margin 14.6% 12.8% -
Revenue* and EBITDA
€ in millions; * Revenue with external customers
Investor and Analyst Presentation 21
Outlook for 2018/19
 Seasonality expected for mobile devices segment, especially in Q1
 Technology development projects in CHQ I as preparation of second phase in implementation
 Further expansion in CHQ II depending on market development – next evaluation in mid-2018
 Technology expansion and capacity increase in the area of autonomous driving at the sites in Nanjangud (India)
and Fehring (Austria) currently implemented
 Maintenance investments and minor technology upgrades of roughly € 70 to 100 million
 Investments in capacity and technology expansion by another € 100 million depending on market development
 Outlook 2018/19: Revenue growth by up to 6% and EBITDA margin at 20 to 23%
Core business with stable and growing demand in a competitive environment
Investor and Analyst Presentation 22
Medium-term strategy – More than AT&S
 Path of value-added growth will be pursued consistently
 Focus on leading position in terms of technology, quality and results
 New revenue target of € 1.5 billion
 EBITDA margin of 20 to 25%
Positioning as a leading high-end interconnect provider
Investor and Analyst Presentation 23
Table of Contents
Company Overview
Strategy & Market
FY 2017/18 & Outlook
Annex
Investor and Analyst Presentation 24
AT&S – Stock Profile
Listing: Vienna Stock Exchange,
Prime Standard
Indices: ATX Prime, WBI
Thomson Reuters (A): ATSV.VI
Bloomberg (A): ATS:AV
Publication of the Annual Report 2017/18 06 June 2018
Record date Annual General Meeting 25 June 2018
24th Annual General Meeting 05 July 2018
Ex-dividend day 24 July 2018
Record date dividend 25 July 2018
Dividend payment day 26 July 2018
Results for the first quarter 2018/19 31 July 2018
Results for the second quarter 2018/19 31 July 2018
Financial Calendar Shareholder structure
# of shares outstanding 38.85m
Average daily volume*: ~ 115,000 shares
Performance 1 year*: +107%
Dividend proposal 2017/18: € 0.36 per share
* 02/05/2017 – 30/04/2018
Investor and Analyst Presentation 25
Market development
 Communication
 Decline in smartphone sales volume by 2.3% for the first time in 2017
 2018 – 2020 5G-capable smartphones provide for above-average growth of 2.8% p.a.
 Computer
 Slight decline of overall market by approx. 2.5% in 2017
 Slight increase forecast for servers in 2018, while tablet sales stagnate
 2018 – 2020 average growth of roughly 1.8% p.a.
 Consumer
 Market trend is the interconnection of devices (“Connected Devices”, “Internet of Things” – “IoT”)
 2018 – 2020 average annual growth of roughly 4.3% p.a.
 IC substrates
 2017 slight growth with a total market volume of $ 5.4 billion
 “System-in-package” or “all-in-one” modules for the integration of functions are the growth drivers for the future
 2018 – 2020 growth rate of 2.8% p.a.
Development in the customer segments in the calendar year 2017
Investor and Analyst Presentation 26
Market development
 Automotive electronics
 Strong growth due to continuous increase in the proportion of electronics in vehicles
 Electrification, interconnection and autonomous driving are the growth drivers
 2018 – 2020 growth of 3.9% p.a.
 Industrial electronics
 Stable growth in 2017 at 2.9% due to automation and energy efficiency
 Driven by robotics, automation and Industry 4.0 activities
 2018 – 2020 growth by up to 3.4% p.a.
 Medical electronics
 Growth in 2017 by roughly 4.8% in mobile diagnostic equipment and therapy devices
 High complexity in applications such as diagnostic and imaging devices, mobile devices on and in the body
 2018 – 2020 growth rates of 2.1% p.a.
Development in the customer segments in the calendar year 2017
26
Investor and Analyst Presentation 27
Financials FY 2017/18
Hybrid bond issue (€ 173.0m)
Full Capex financed from operating cash flow
€ in thousands
01 Apr 2016 – 31 Mar 2017 01 Apr 2017 – 31 Mar 2018
Change
YoY
STATEMENT OF CASH FLOWS
Operating result (EBIT) 6,649 90,286 >100%
Paid/received interests (15,962) (13,875) 13.1%
Income taxes paid (12,370) (26,015) (>100%)
Non cash bearing of profit or loss 112,207 141,705 26.3%
Cash flow from operating activities
before changes in working capital
90,524 192,101 >100%
Changes in working capital 45,892 (48,910) (>100%)
Cash flow from operating activities 136,416 143,191 5.0%
Cash flow from investing activities (161,148) (193,389) (20.0%)
Cash flow from financing activities 54,872 135,547 >100%
Change in cash and cash equivalents 30,140 85,349 >100%
Operating free cash flow1)
(104,253) 1,492 >100%
Free cash flow2)
(24,732) (50,198) (>100%)
1)
Cash flow from operating activities minus Net CAPEX
2)
Cash flow from operating activities minus cash flow from investing activities
Investor and Analyst Presentation 28
Financials FY 2017/18
Increase as a result of hybrid bond issue and
net profit
Negative FX effects (mainly RMB-EUR and
USD-EUR) of € 53.5 m. Positive: Hybrid bond
issue (€ 173.0m)
In 2016/17 special net debt optimization
program
Hybrid bond issue (€ 173.0m)
€ in thousands (unless otherwise stated)
31 Mar 2017 31 Mar 2018 Change
STATEMENT OF FINANCIAL
POSITION
Non-current assets 1,029,363 944,267 (8.3%)
Current assets 407,331 586,172 43.9%
Equity 540,094 711,391 31.7%
Non-current liabilities 569,849 515,276 (9.6%)
Current liabilities 326,751 303,772 (7.0%)
Total assets 1,436,694 1,530,439 6.5%
Net debt 380,549 209,237 (45.0%)
Net debt/EBITDA 2.9x 0.9x (2.0pp)
Net gearing 70.5% 29.4% (41.1pp)
Net working capital 24,374 72,437 >100%
Net working capital per revenue 3.0% 7.3% 4.3pp
Equity ratio 37.6% 46.5% 8.9pp
Investor and Analyst Presentation 29
Financials FY 2017/18
High demand, additional revenue contribution
mainly from both plants in Chongqing,
Negative FX impact of € 46.8 m.
Generally high operational performance,
successful implementation & optimization of
mSAP technology
Further reduction mainly due to positive FX
impact
Significantly higher earnings
Capitalization of deferred taxes in Austria
Reduced tax scheme in Shanghai effected
€ in thousands (unless otherwise stated)
01 Apr 2016 – 31 Mar 2017 01 Apr 2017 – 31 Mar 2018
Change
YoY
STATEMENT OF PROFIT OR LOSS
Revenue 814,906 991,843 21.7%
produced in Asia 82% 84% 2pp
produced in Europe 18% 16% (2pp)
EBITDA 130,933 225,977 72.6%
EBITDA margin 16.1% 22.8% 6.7pp
EBIT 6,649 90,286 >100%
EBIT margin 0.8% 9.1% 8.3pp
Finance costs – net (17,499) (14,775) 15.6%
Income taxes (12,047) (18,992) (57.6%)
Profit/(loss) for the year (22,897) 56,519 >100%
Cash earnings 101,764 192,211 88.9%
Earnings per share (€ 0.59) € 1.38 >100%
Investor and Analyst Presentation 30
Key credit figures
299
372
405
523
593
540
82
261 274
260
212
331
217
111
131
263
381
209
2012/13 2013/14 2014/15 2015/16 2016/17 2017/18
Gross debt Financial assets and cash Net debt
0.9 0.8
1.6
2.9
0.9
2013/14 2014/15 2015/16 2016/17 2017/18
 Target: < 3x
Net debt/EBITDA
 Net debt decrease based on lower net capex
(Chongqing phase I finished) & Hybrid bond issue
€ in millions
Gross debt, financial assets and cash, net debt
Multiple
Investor and Analyst Presentation 31
Net Working Capital Management
€ in millions; % of revenue
Net Working Capital development
103
92 95
88
24
72
19.0%
15.6%
14.3%
11.6%
3.0%
7.3%
2012/13 2013/14 2014/15 2015/16 2016/17 2017/18
Net working capital Net working capital per revenue
Investor and Analyst Presentation 32
AT&S Product Portfolio – I
ECP®:
Embedded Component Packaging IC substrates Substrate-like printed circuit boards
mSAP
Embedded Component Packaging allows to embed
active/passive components (e.g. wafer level dies) within
the layers of a PCB – contributes to miniaturization.
IC substrates serve as interconnection platform with
higher density (Line/Space < 15 micron) between
semiconductors (Chips) & PCBs .
Substrate-like PCBs (mSAP technology) are the next
evolution of high-end HDI PCBs with higher density:
Line/Space < 30 micron.
Production site
Leoben, Shanghai Chongqing Chongqing, Shanghai
Applications
Devices such as smartphones, tablets, digital
cameras and hearing aids
High-end processors for
Computer, Communication, Automotive, Industrial
Mobile applications like smartphones
Investor and Analyst Presentation 33
HDI
any-layer printed circuit
boards
HDI microvia printed
circuit boards – high
density interconnect
Multilayer printed circuit
boards
Double-sided printed
circuit boards
IMS printed circuit boards
– insulated metal
substrate
Further technological
enhancement to HDI microvia:
All electrical connections in HDI
any-layer boards consist of laser-
drilled microvias. Advantage:
further miniaturization, and
higher performance and
reliability. AT&S produces HDI
any-layer in 4 to 12 layers.
HDI: high density interconnect,
meaning
laser-drilled connections
(microvias). HDI is first step
towards miniaturization.
AT&S can produce 4-layer
laser PCBs up to 6-n-6
HDI multi layer PCBs.
Found in almost every area of
industrial electronics. AT&S
produces printed circuit boards
with 4 to 28 layers, in quantities
from individual prototypes to
small batches and mass
production.
Used in all areas of electronics.
AT&S focuses on double-sided
printed circuit boards with
thicknesses in the range of 0.1-
3.2mm.
IMS: insulated metal substrate.
Primary function: heat
dissipation for use mainly with
LEDs and power components.
Production site
Shanghai Shanghai, Leoben Leoben, Nanjangud, Fehring Fehring, Nanjangud Fehring
Applications
Smartphones, Tablets,
Notebooks
Mobile phones and nearly all
electronic applications including
automotive (navigation,
infotainment and driver
assistance systems)
Used in all electronic
applications including touch
panels, and in products ranging
from aircraft to motorcycles,
from storage power plants to
solar arrays
Primarily industrial and
automotive applications
Lighting industry
AT&S Product Portfolio – II
Investor and Analyst Presentation 34
Flexible printed
circuit boards
Semi-flexible printed
circuit boards
Rigid-flex printed
circuit boards
Flexible printed circuit
boards on aluminum
AT&S patented
technologies
Used to replace wiring and
connectors, allowing for
connections and geometries that
are not possible with rigid
printed circuit boards.
More limited bend radius than
flexible printed circuit
boards. The use of a
standard thin laminate
makes them a cost-effective
alternative.
Combine the
advantages of flexible
and rigid printed circuit
boards, yielding benefits
for signal transmission,
size and stability.
Used when installing LEDs
in car headlights, for
example, where the
printed circuit board is
bonded to an aluminum
heat sink to which the
LEDs are then attached.
Production site
Ansan, Fehring Fehring Leoben, Ansan Ansan
Applications
Nearly all areas of
electronics, including
measuring devices and
medical applications
Automotive applications Industrial electronics,
such as production
machines and industrial
robots
Lighting, automotive,
building lighting
AT&S Product Portfolio – III
ECP®: Embedded
Component Packaging
ECP® is a patented AT&S packaging
technology used to embed active
and passive electronic components
in the inner layers of a printed circuit
board. ECP® technology is used in
ever smaller, more efficient and
more powerful devices, such as
smartphones, tablets, digital
cameras and hearing aids.
Production sites: Leoben, Shanghai
2.5D® Technology
Platform
Combines mechanical and electronic
miniaturization, and enables partial
reduction of the thickness of a
circuit board. Advantage: populated
assemblies have a thinner profile.
Can be also used to make cavities in
the printed circuit board, e.g. for
acoustic channels. Major application
for this technology is the 2.5D® rigid-
flex printed circuit board, a lower
cost alternative for flex-to install
applications.
Production sites: Leoben, Shanghai
Investor and Analyst Presentation 35
Management
Andreas
Gerstenmayer, CEO
 Joined AT&S as CEO in 2010
 Previous positions include:
 18 years of work experience at Siemens,
including Managing Director with
Siemens Transportation Systems GmbH
Austria and CEO of the Drive Technology
business unit in Graz from 2003 to 2008
 Partner at FOCUSON Business
Consulting GmbH after leaving Siemens
 Education:
 Degree in Production Engineering from
Rosenheim University of Applied
Sciences
Monika Stoisser-
Göhring, CFO
 CFO since 2017
 Previous positions include:
 Since 2011 with AT&S in senior
positions in Finance and Human
Resources
 Various positions at international
accounting and tax consulting
companies
 Education:
 Training as Tax Consultant
 Degree in Business Administration
from Karl-Franzens University Graz
Heinz Moitzi,
COO
 COO since 2005; with AT&S since
19811)
 Previous positions include:
 Various management positions
within AT&S
 Measurement engineer with Leoben
University of Mining and Metallurgy
 Education:
 Degree from Higher Technical
College of Electrical Engineering
1)He was already with the founding company of AT&S
Investor and Analyst Presentation 36
Milestones in the Group’s history
1987
Founding of the Group, emerging
from several companies owned by
the Austrian State Owned
Industries
1994
Privatization and
acquisition by Messrs
Androsch, Dörflinger, Zoidl
1999
Initial public offering on Frankfurt Stock Exchange
(„Neuer Markt“). Acquisition of Indal Electronics
Ltd., largest Indian printed circuit board plant
(Nanjangud) – today, AT&S India Private Limited
2002
Start of production at new Shanghai
facility – one of the leading HDI
production sites in the world
2010
Start of production
at plant II in India
2009
New production direction: Austrian
plants produce for high-value niches
in the automotive and industrial
segment; Shanghai focuses on the
high-end mobile devices segment
2008
AT&S change
to Vienna Stock
Exchange 2006
Acquisition of Korean
flexible printed circuit
board manufacturer,
Tofic Co. Ltd. – today,
AT&S Korea Co., Ltd.
2015
AT&S again achieves record high sales and earnings for
financial year 2014/15 and decides to increase the investment
program in Chongqing from € 350 million to € 480 million
2011
 Construction starts on new
plant in Chongqing, China
 Capacity increase in
Shanghai by 30%
2013
AT&S enters the IC substrate
market in cooperation with a
leading manufacturer of
semiconductors
2016
AT&S starts serial production of
IC substrates at the plant in
Chongqing
Investor and Analyst Presentation 37
A sustainability benchmark in the industry
37
“Highest resource
efficiency“
“Highest standards at all
locations worldwide“
“Highest
transparency“
* Basis for CO2 output: 2015/16
 Sustainability reporting since 2012/13
 Gold recognition from the Responsible
Business Alliance
 Conflict minerals reporting
 Public CDP reporting on climate change
(C score) and water (B score)
Resource
consumption
stable/declining
Revenue growth  Environment: ISO 14001
 Safety: OHSAS 18001
 Energy: ISO 50001
 Quality: ISO 9001, ISO/TS 16949
AS/EN 9100, DS/EN 13485
Investor and Analyst Presentation 38
AT&S – First choice for advanced applications
IR contact
Gerda Königstorfer
Tel: +43 3842 200 5925
Mobile: +43 676 8955 5925
Fax: +43 3842 200 15909
g.koenigstorfer@ats.net
Johannes Mattner
Tel: +43 3842 200 5450
Mobile: +43 676 8955 6093
Fabriksgasse 13,
8700 Leoben/Austria
www.ats.netVisit: www.ats.net; @AT&S IR_PR; AtundS
Investor and Analyst Presentation 39
Disclaimer
This presentation is provided by AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, having its headquarter at Fabriksgasse 13, 8700 Leoben, Austria (“AT&S”), and the
contents are proprietary to AT&S and for information only.
AT&S does not provide any representations or warranties with regard to this presentation or for the correctness and completeness of the statements contained therein, and no
reliance may be placed for any purpose whatsoever on the information contained in this presentation, which has not been independently verified. You are expressly cautioned not
to place undue reliance on this information.
This presentation may contain forward-looking statements which were made on the basis of the information available at the time of preparation and on management‘s expectations
and assumptions. However, such statements are by their very nature subject to known and unknown risks and uncertainties. As a result, actual developments, results, performance
or events may vary significantly from the statements contained explicitly or implicitly herein.
Neither AT&S, nor any affiliated company, or any of their directors, officers, employees, advisors or agents accept any responsibility or liability (for negligence or otherwise) for any
loss whatsoever out of the use of or otherwise in connection with this presentation. AT&S undertakes no obligation to update or revise any forward-looking statements, whether as
a result of changed assumptions or expectations, new information or future events.
This presentation does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities, and neither this presentation
nor anything contained herein shall form the basis of any contract or commitment whatsoever. This presentation does not constitute any financial analysis or financial research and
may not be construed to be or form part of a prospectus. This presentation is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or
resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would
require any registration or licensing within such jurisdiction.

More Related Content

What's hot

AT&S Investor and Analyst Presentation February 2019
AT&S Investor and Analyst Presentation February 2019AT&S Investor and Analyst Presentation February 2019
AT&S Investor and Analyst Presentation February 2019AT&S_IR
 
AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019AT&S_IR
 
AT&S Company Presentation July 2016
AT&S  Company Presentation July 2016AT&S  Company Presentation July 2016
AT&S Company Presentation July 2016AT&S_IR
 
AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019AT&S_IR
 
AT&S Investor and Analyst Präsentation September 2018
AT&S Investor and Analyst Präsentation September 2018AT&S Investor and Analyst Präsentation September 2018
AT&S Investor and Analyst Präsentation September 2018AT&S_IR
 
AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018AT&S_IR
 
AT&S Annual Report 2019/20
AT&S Annual Report 2019/20AT&S Annual Report 2019/20
AT&S Annual Report 2019/20AT&S_IR
 
AT&S Company Presentation May 2016
AT&S Company Presentation May 2016AT&S Company Presentation May 2016
AT&S Company Presentation May 2016AT&S_IR
 
AT&S Investor and Analyst Presentation October 2017
AT&S Investor and Analyst Presentation October 2017AT&S Investor and Analyst Presentation October 2017
AT&S Investor and Analyst Presentation October 2017AT&S_IR
 
AT&S Investor and Analyst Presentation October 2016
AT&S Investor and Analyst Presentation October 2016AT&S Investor and Analyst Presentation October 2016
AT&S Investor and Analyst Presentation October 2016AT&S_IR
 
AT&S Investor and Analyst Presentation March 2017
AT&S Investor and Analyst Presentation March 2017 AT&S Investor and Analyst Presentation March 2017
AT&S Investor and Analyst Presentation March 2017 AT&S_IR
 
AT&S Company Presentation April 2016
AT&S Company Presentation April 2016AT&S Company Presentation April 2016
AT&S Company Presentation April 2016AT&S_IR
 
AT&S IR Presentation 9M_2019_20
AT&S IR Presentation 9M_2019_20AT&S IR Presentation 9M_2019_20
AT&S IR Presentation 9M_2019_20AT&S_IR
 
AT&S Company Presentation June 2016
AT&S Company Presentation June 2016AT&S Company Presentation June 2016
AT&S Company Presentation June 2016AT&S_IR
 
AT&S Investor and Analyst Presentation August 2017
AT&S Investor and Analyst Presentation August 2017AT&S Investor and Analyst Presentation August 2017
AT&S Investor and Analyst Presentation August 2017AT&S_IR
 
AT&S Investor and Analyst Presentation September 2017
AT&S Investor and Analyst Presentation September 2017AT&S Investor and Analyst Presentation September 2017
AT&S Investor and Analyst Presentation September 2017AT&S_IR
 
AT&S Compay Presetation January 2015
AT&S Compay Presetation January 2015AT&S Compay Presetation January 2015
AT&S Compay Presetation January 2015AT&S_IR
 
AT&S Company Presentation January 2015
AT&S Company Presentation January 2015AT&S Company Presentation January 2015
AT&S Company Presentation January 2015AT&S_IR
 
AT&S Investor and Analyst Presentation September 2018
AT&S Investor and Analyst Presentation September 2018AT&S Investor and Analyst Presentation September 2018
AT&S Investor and Analyst Presentation September 2018AT&S_IR
 
AT&S Interim Report Q3 2019_20
AT&S Interim Report Q3 2019_20AT&S Interim Report Q3 2019_20
AT&S Interim Report Q3 2019_20AT&S_IR
 

What's hot (20)

AT&S Investor and Analyst Presentation February 2019
AT&S Investor and Analyst Presentation February 2019AT&S Investor and Analyst Presentation February 2019
AT&S Investor and Analyst Presentation February 2019
 
AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019
 
AT&S Company Presentation July 2016
AT&S  Company Presentation July 2016AT&S  Company Presentation July 2016
AT&S Company Presentation July 2016
 
AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019AT&S Investor and Analyst Presentation January 2019
AT&S Investor and Analyst Presentation January 2019
 
AT&S Investor and Analyst Präsentation September 2018
AT&S Investor and Analyst Präsentation September 2018AT&S Investor and Analyst Präsentation September 2018
AT&S Investor and Analyst Präsentation September 2018
 
AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018
 
AT&S Annual Report 2019/20
AT&S Annual Report 2019/20AT&S Annual Report 2019/20
AT&S Annual Report 2019/20
 
AT&S Company Presentation May 2016
AT&S Company Presentation May 2016AT&S Company Presentation May 2016
AT&S Company Presentation May 2016
 
AT&S Investor and Analyst Presentation October 2017
AT&S Investor and Analyst Presentation October 2017AT&S Investor and Analyst Presentation October 2017
AT&S Investor and Analyst Presentation October 2017
 
AT&S Investor and Analyst Presentation October 2016
AT&S Investor and Analyst Presentation October 2016AT&S Investor and Analyst Presentation October 2016
AT&S Investor and Analyst Presentation October 2016
 
AT&S Investor and Analyst Presentation March 2017
AT&S Investor and Analyst Presentation March 2017 AT&S Investor and Analyst Presentation March 2017
AT&S Investor and Analyst Presentation March 2017
 
AT&S Company Presentation April 2016
AT&S Company Presentation April 2016AT&S Company Presentation April 2016
AT&S Company Presentation April 2016
 
AT&S IR Presentation 9M_2019_20
AT&S IR Presentation 9M_2019_20AT&S IR Presentation 9M_2019_20
AT&S IR Presentation 9M_2019_20
 
AT&S Company Presentation June 2016
AT&S Company Presentation June 2016AT&S Company Presentation June 2016
AT&S Company Presentation June 2016
 
AT&S Investor and Analyst Presentation August 2017
AT&S Investor and Analyst Presentation August 2017AT&S Investor and Analyst Presentation August 2017
AT&S Investor and Analyst Presentation August 2017
 
AT&S Investor and Analyst Presentation September 2017
AT&S Investor and Analyst Presentation September 2017AT&S Investor and Analyst Presentation September 2017
AT&S Investor and Analyst Presentation September 2017
 
AT&S Compay Presetation January 2015
AT&S Compay Presetation January 2015AT&S Compay Presetation January 2015
AT&S Compay Presetation January 2015
 
AT&S Company Presentation January 2015
AT&S Company Presentation January 2015AT&S Company Presentation January 2015
AT&S Company Presentation January 2015
 
AT&S Investor and Analyst Presentation September 2018
AT&S Investor and Analyst Presentation September 2018AT&S Investor and Analyst Presentation September 2018
AT&S Investor and Analyst Presentation September 2018
 
AT&S Interim Report Q3 2019_20
AT&S Interim Report Q3 2019_20AT&S Interim Report Q3 2019_20
AT&S Interim Report Q3 2019_20
 

Similar to AT&S Investor and Analyst Presentation May 2018

AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018AT&S_IR
 
AT&S Investor and Analyst Presentation November 2017
AT&S Investor and Analyst Presentation November 2017AT&S Investor and Analyst Presentation November 2017
AT&S Investor and Analyst Presentation November 2017AT&S_IR
 
AT&S Investor and Analyst Presentation September 2016
AT&S Investor and Analyst Presentation September 2016AT&S Investor and Analyst Presentation September 2016
AT&S Investor and Analyst Presentation September 2016AT&S_IR
 
AT&S Investor and Analyst Presentation May 2017
AT&S Investor and Analyst Presentation May 2017AT&S Investor and Analyst Presentation May 2017
AT&S Investor and Analyst Presentation May 2017AT&S_IR
 
AT&S Investor and Analyst Presentation January 2017
AT&S Investor and Analyst Presentation January 2017AT&S Investor and Analyst Presentation January 2017
AT&S Investor and Analyst Presentation January 2017AT&S_IR
 
AT&S Investor and Analyst Presentation November 2016
AT&S Investor and Analyst Presentation November 2016AT&S Investor and Analyst Presentation November 2016
AT&S Investor and Analyst Presentation November 2016AT&S_IR
 
AT&S Investor and Analyst Presentation December 2016
AT&S Investor and Analyst Presentation December 2016AT&S Investor and Analyst Presentation December 2016
AT&S Investor and Analyst Presentation December 2016AT&S_IR
 
AT&S Investor and Analyst Presentation April 2017
AT&S Investor and Analyst Presentation April 2017AT&S Investor and Analyst Presentation April 2017
AT&S Investor and Analyst Presentation April 2017AT&S_IR
 
AT&S Investor and Analyst Presentation February 2017
AT&S Investor and Analyst Presentation February 2017AT&S Investor and Analyst Presentation February 2017
AT&S Investor and Analyst Presentation February 2017AT&S_IR
 
AT&S Investor and Analyst Presentation August 2016
AT&S Investor and Analyst Presentation August 2016AT&S Investor and Analyst Presentation August 2016
AT&S Investor and Analyst Presentation August 2016AT&S_IR
 
AT&S Investor and Analyst Presentation June 2017
AT&S Investor and Analyst Presentation June 2017AT&S Investor and Analyst Presentation June 2017
AT&S Investor and Analyst Presentation June 2017AT&S_IR
 
AT&S Investor and Analyst Presentation July 2017
AT&S Investor and Analyst Presentation July 2017AT&S Investor and Analyst Presentation July 2017
AT&S Investor and Analyst Presentation July 2017AT&S_IR
 
AT&S Company Presentation Nov. 2014
AT&S Company Presentation Nov. 2014AT&S Company Presentation Nov. 2014
AT&S Company Presentation Nov. 2014AT&S_IR
 
AT&S Investor Relations Presentation September 2015
AT&S Investor Relations Presentation September 2015AT&S Investor Relations Presentation September 2015
AT&S Investor Relations Presentation September 2015AT&S_IR
 

Similar to AT&S Investor and Analyst Presentation May 2018 (14)

AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018AT&S Investor and Analyst Presentation December 2018
AT&S Investor and Analyst Presentation December 2018
 
AT&S Investor and Analyst Presentation November 2017
AT&S Investor and Analyst Presentation November 2017AT&S Investor and Analyst Presentation November 2017
AT&S Investor and Analyst Presentation November 2017
 
AT&S Investor and Analyst Presentation September 2016
AT&S Investor and Analyst Presentation September 2016AT&S Investor and Analyst Presentation September 2016
AT&S Investor and Analyst Presentation September 2016
 
AT&S Investor and Analyst Presentation May 2017
AT&S Investor and Analyst Presentation May 2017AT&S Investor and Analyst Presentation May 2017
AT&S Investor and Analyst Presentation May 2017
 
AT&S Investor and Analyst Presentation January 2017
AT&S Investor and Analyst Presentation January 2017AT&S Investor and Analyst Presentation January 2017
AT&S Investor and Analyst Presentation January 2017
 
AT&S Investor and Analyst Presentation November 2016
AT&S Investor and Analyst Presentation November 2016AT&S Investor and Analyst Presentation November 2016
AT&S Investor and Analyst Presentation November 2016
 
AT&S Investor and Analyst Presentation December 2016
AT&S Investor and Analyst Presentation December 2016AT&S Investor and Analyst Presentation December 2016
AT&S Investor and Analyst Presentation December 2016
 
AT&S Investor and Analyst Presentation April 2017
AT&S Investor and Analyst Presentation April 2017AT&S Investor and Analyst Presentation April 2017
AT&S Investor and Analyst Presentation April 2017
 
AT&S Investor and Analyst Presentation February 2017
AT&S Investor and Analyst Presentation February 2017AT&S Investor and Analyst Presentation February 2017
AT&S Investor and Analyst Presentation February 2017
 
AT&S Investor and Analyst Presentation August 2016
AT&S Investor and Analyst Presentation August 2016AT&S Investor and Analyst Presentation August 2016
AT&S Investor and Analyst Presentation August 2016
 
AT&S Investor and Analyst Presentation June 2017
AT&S Investor and Analyst Presentation June 2017AT&S Investor and Analyst Presentation June 2017
AT&S Investor and Analyst Presentation June 2017
 
AT&S Investor and Analyst Presentation July 2017
AT&S Investor and Analyst Presentation July 2017AT&S Investor and Analyst Presentation July 2017
AT&S Investor and Analyst Presentation July 2017
 
AT&S Company Presentation Nov. 2014
AT&S Company Presentation Nov. 2014AT&S Company Presentation Nov. 2014
AT&S Company Presentation Nov. 2014
 
AT&S Investor Relations Presentation September 2015
AT&S Investor Relations Presentation September 2015AT&S Investor Relations Presentation September 2015
AT&S Investor Relations Presentation September 2015
 

More from AT&S_IR

AT&S Jahresfinanzbericht 2019/20
AT&S Jahresfinanzbericht 2019/20AT&S Jahresfinanzbericht 2019/20
AT&S Jahresfinanzbericht 2019/20AT&S_IR
 
AT&S Geschäftsbericht 2019/20
AT&S Geschäftsbericht 2019/20AT&S Geschäftsbericht 2019/20
AT&S Geschäftsbericht 2019/20AT&S_IR
 
AT&S Zwischenmitteilung Q3 2019_20
AT&S Zwischenmitteilung Q3 2019_20AT&S Zwischenmitteilung Q3 2019_20
AT&S Zwischenmitteilung Q3 2019_20AT&S_IR
 
Interrim Report Q1 2019/20 von AT&S_IR
Interrim Report Q1 2019/20  von AT&S_IR Interrim Report Q1 2019/20  von AT&S_IR
Interrim Report Q1 2019/20 von AT&S_IR AT&S_IR
 
Zwischenmitteilung Q1 2019/20 von AT&S_IR
Zwischenmitteilung Q1 2019/20   von AT&S_IR Zwischenmitteilung Q1 2019/20   von AT&S_IR
Zwischenmitteilung Q1 2019/20 von AT&S_IR AT&S_IR
 
AT&S Annual financial report 2018/19
AT&S Annual financial report 2018/19AT&S Annual financial report 2018/19
AT&S Annual financial report 2018/19AT&S_IR
 
AT&S Jahresfinanzbericht 2018/19
AT&S Jahresfinanzbericht 2018/19AT&S Jahresfinanzbericht 2018/19
AT&S Jahresfinanzbericht 2018/19AT&S_IR
 
AT&S Annual Report 2018/19
AT&S Annual Report 2018/19AT&S Annual Report 2018/19
AT&S Annual Report 2018/19AT&S_IR
 
AT&S Geschäftsbericht 2018/19
AT&S Geschäftsbericht 2018/19AT&S Geschäftsbericht 2018/19
AT&S Geschäftsbericht 2018/19AT&S_IR
 
Q3 Financial Report 2018/19
Q3 Financial Report 2018/19Q3 Financial Report 2018/19
Q3 Financial Report 2018/19AT&S_IR
 
Quartalsfinanzbericht Q3 2018/19
Quartalsfinanzbericht Q3 2018/19 Quartalsfinanzbericht Q3 2018/19
Quartalsfinanzbericht Q3 2018/19 AT&S_IR
 
Half-Year Financial Report 2018/19
Half-Year Financial Report 2018/19Half-Year Financial Report 2018/19
Half-Year Financial Report 2018/19AT&S_IR
 
Halbjahresfinanzbericht 2018/19
Halbjahresfinanzbericht 2018/19Halbjahresfinanzbericht 2018/19
Halbjahresfinanzbericht 2018/19AT&S_IR
 
AT&S Annual financial report 2017/18
AT&S Annual financial report 2017/18AT&S Annual financial report 2017/18
AT&S Annual financial report 2017/18AT&S_IR
 

More from AT&S_IR (14)

AT&S Jahresfinanzbericht 2019/20
AT&S Jahresfinanzbericht 2019/20AT&S Jahresfinanzbericht 2019/20
AT&S Jahresfinanzbericht 2019/20
 
AT&S Geschäftsbericht 2019/20
AT&S Geschäftsbericht 2019/20AT&S Geschäftsbericht 2019/20
AT&S Geschäftsbericht 2019/20
 
AT&S Zwischenmitteilung Q3 2019_20
AT&S Zwischenmitteilung Q3 2019_20AT&S Zwischenmitteilung Q3 2019_20
AT&S Zwischenmitteilung Q3 2019_20
 
Interrim Report Q1 2019/20 von AT&S_IR
Interrim Report Q1 2019/20  von AT&S_IR Interrim Report Q1 2019/20  von AT&S_IR
Interrim Report Q1 2019/20 von AT&S_IR
 
Zwischenmitteilung Q1 2019/20 von AT&S_IR
Zwischenmitteilung Q1 2019/20   von AT&S_IR Zwischenmitteilung Q1 2019/20   von AT&S_IR
Zwischenmitteilung Q1 2019/20 von AT&S_IR
 
AT&S Annual financial report 2018/19
AT&S Annual financial report 2018/19AT&S Annual financial report 2018/19
AT&S Annual financial report 2018/19
 
AT&S Jahresfinanzbericht 2018/19
AT&S Jahresfinanzbericht 2018/19AT&S Jahresfinanzbericht 2018/19
AT&S Jahresfinanzbericht 2018/19
 
AT&S Annual Report 2018/19
AT&S Annual Report 2018/19AT&S Annual Report 2018/19
AT&S Annual Report 2018/19
 
AT&S Geschäftsbericht 2018/19
AT&S Geschäftsbericht 2018/19AT&S Geschäftsbericht 2018/19
AT&S Geschäftsbericht 2018/19
 
Q3 Financial Report 2018/19
Q3 Financial Report 2018/19Q3 Financial Report 2018/19
Q3 Financial Report 2018/19
 
Quartalsfinanzbericht Q3 2018/19
Quartalsfinanzbericht Q3 2018/19 Quartalsfinanzbericht Q3 2018/19
Quartalsfinanzbericht Q3 2018/19
 
Half-Year Financial Report 2018/19
Half-Year Financial Report 2018/19Half-Year Financial Report 2018/19
Half-Year Financial Report 2018/19
 
Halbjahresfinanzbericht 2018/19
Halbjahresfinanzbericht 2018/19Halbjahresfinanzbericht 2018/19
Halbjahresfinanzbericht 2018/19
 
AT&S Annual financial report 2017/18
AT&S Annual financial report 2017/18AT&S Annual financial report 2017/18
AT&S Annual financial report 2017/18
 

Recently uploaded

Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service AvailableCall Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service AvailableSheetaleventcompany
 
Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024CollectiveMining1
 
Call Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In Amritsar
Call Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In AmritsarCall Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In Amritsar
Call Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In Amritsaronly4webmaster01
 
VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...
VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...
VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...SUHANI PANDEY
 
Corporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdfCorporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdfProbe Gold
 
CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service 🧦
CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service  🧦CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service  🧦
CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service 🧦anilsa9823
 
VIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call Girl
VIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call GirlVIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call Girl
VIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call Girladitipandeya
 
Diligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage StartupsDiligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage StartupsTILDEN
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024CollectiveMining1
 
Editing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxEditing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxMollyBrown86
 
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...mriyagarg453
 
Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024nicola_mining
 
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort ServiceBDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort ServiceDelhi Call girls
 
Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024TeckResourcesLtd
 
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...SUHANI PANDEY
 

Recently uploaded (20)

Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service AvailableCall Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
Call Girls Chandigarh Just Call 8868886958 Top Class Call Girl Service Available
 
Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024
 
Call Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In Amritsar
Call Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In AmritsarCall Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In Amritsar
Call Girls In Amritsar 💯Call Us 🔝 76967 34778🔝 💃 Independent Escort In Amritsar
 
VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...
VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...
VVIP Pune Call Girls Sopan Baug WhatSapp Number 8005736733 With Elite Staff A...
 
(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7
(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7
(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7
 
@9999965857 🫦 Sexy Desi Call Girls Karol Bagh 💓 High Profile Escorts Delhi 🫶
@9999965857 🫦 Sexy Desi Call Girls Karol Bagh 💓 High Profile Escorts Delhi 🫶@9999965857 🫦 Sexy Desi Call Girls Karol Bagh 💓 High Profile Escorts Delhi 🫶
@9999965857 🫦 Sexy Desi Call Girls Karol Bagh 💓 High Profile Escorts Delhi 🫶
 
(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...
(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...
(👉゚9999965857 ゚)👉 Russian Call Girls Aerocity 👉 Delhi 👈 : 9999 Cash Payment F...
 
Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...
Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...
Russian Call Girls Rohini Sector 22 💓 Delhi 9999965857 @Sabina Modi VVIP MODE...
 
Corporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdfCorporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdf
 
CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service 🧦
CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service  🧦CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service  🧦
CALL ON ➥8923113531 🔝Call Girls Vineet Khand Lucknow best Night Fun service 🧦
 
VIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call Girl
VIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call GirlVIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call Girl
VIP 7001035870 Find & Meet Hyderabad Call Girls Miyapur high-profile Call Girl
 
Diligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage StartupsDiligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage Startups
 
Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024Collective Mining | Corporate Presentation - April 2024
Collective Mining | Corporate Presentation - April 2024
 
Editing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxEditing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxx
 
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
 
Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024
 
Call Girls 🫤 East Of Kailash ➡️ 9999965857 ➡️ Delhi 🫦 Russian Escorts FULL ...
Call Girls 🫤 East Of Kailash ➡️ 9999965857  ➡️ Delhi 🫦  Russian Escorts FULL ...Call Girls 🫤 East Of Kailash ➡️ 9999965857  ➡️ Delhi 🫦  Russian Escorts FULL ...
Call Girls 🫤 East Of Kailash ➡️ 9999965857 ➡️ Delhi 🫦 Russian Escorts FULL ...
 
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort ServiceBDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
BDSM⚡Call Girls in Hari Nagar Delhi >༒8448380779 Escort Service
 
Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024Teck Investor Presentation, April 24, 2024
Teck Investor Presentation, April 24, 2024
 
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
 

AT&S Investor and Analyst Presentation May 2018

  • 1. AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben Tel +43 (0) 3842 200-0 www.ats.net AT&S First choice for advanced applications Investor and Analyst Presentation May 2018
  • 2. Investor and Analyst Presentation 1 Table of Contents Company Overview Strategy & Market FY 2017/18 & Outlook Annex
  • 3. Investor and Analyst Presentation 2 AT&S – outstanding 2017/18 results High-end interconnect solutions for Mobile Devices, Automotive, Industrial, Medical Applications and Semiconductor Industry Highest revenue in AT&S history € 991.8 m (+21.7%) EBITDA € 226.0 (+72.6%) 22.8% EBITDA margin 46.5% Equity ratio 9,981 employees Dividend proposal 0.36 €
  • 4. Investor and Analyst Presentation 3 Market Segments & Product Applications served by AT&S 3 Computer, Communication, Consumer Smartphones, Tablets, Wearables, Ultrabooks, Cameras … Industrial Machine-2-Machine Communication, Robots, Industrial Computer, X2X Communication … Automotive Advanced Driver Assistance Systems, Emergency-Call, X2X Communication … Medical Patient Monitoring,HearingAids, Pacemaker, Neurostimulation, Drug Delivery, Prosthesis … IC substrates High Performance Computer, Microserver … Segment Mobile Devices & Substrates Segment Automotive, Industrial, Medical
  • 5. Investor and Analyst Presentation 4 Our competitive advantages Strategic focus on high-end technologies and applications Outstandingprocess know-how and process efficiency First high-end IC substrates manufacturer in China Scale innovation and technology leverage between customer segments Highest quality
  • 6. Investor and Analyst Presentation 5 AT&S – Key Facts 542 590 667 763 815 992 102 127 168 168 131* 226 31 54 90 77* 7* 90 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 Revenue EBITDA EBIT Good track record1 Balanced portfolio/Global customer base2 7% Split revenue: Business Unit, FY 2017/18 Split revenue: Customer Region, FY 2017/18 based on sold to party +9% +13% +14% +7% * Based on ramp-up effects for new plants in China Revenue growth € in millions 66% 34% Mobile Devices & Substrates Automotive, Industrial, Medical 63% 21% 10% 6% Americas Germany/Austria Asia Other European countries +21.7%
  • 7. Investor and Analyst Presentation 6 Global footprint ensures proximity to supply chain & cost efficiency 1,008* 394* 1,143* 2,361* 4,694* 307* Plant Shanghai China Plant Ansan Korea Plant Chongqing China Plant Leoben, Headquarters Austria Plant Fehring Austria Plant Nanjangud India AT&S plant & sales office AT&S sales office AT&S Headquarters *Staff, Average, FTE, FY 2017/18; 73 employees in other locations
  • 8. Investor and Analyst Presentation 7 Table of Contents Company Overview Strategy & Market FY 2017/18 & Outlook Annex
  • 9. Investor and Analyst Presentation 8 From vision to strategy Targets/Key Performance Indicators Strategy Expansion of technology leadership • Leading provider of new interconnect solutions • Innovation revenue rate: > 20%  Focus on high-end technologies and applications  Focus on innovative solutions “More than AT&S” Medium-term profitable growth • Medium-term revenue target of € 1.5 billion • Medium-term EBITDA margin target of 20-25%  Focus on fast-growing and profitable applications  Highest service level and customer orientation  Operational excellence  Focus on cash flow generation Creation of shareholder value • Long-term ROCE ≥ 12%  Sustainable business development with focus on ROCE  Transparent dividend payout Vision: “First choice for advanced application” Sustainable Management • Fulfill and further develop standards in the area of quality, environment, health & safety…  Human resource development  Uphold business ethics
  • 10. Investor and Analyst Presentation 9 Strategic focus on high-end technologies AT&S Revenue structure in FY 2017/18 – based on technologies High-end HDI PCBs and IC substrates ~ 30% Single-sided (SS), double-sided (DS), multilayer- (ML), flex and rigid-flex (RF) PCBs ~ 70% High-end technology share > 75% HDI and any-layer PCBs, Embedding, IC Substrates Complementary technology share: < 25% SS, DS, ML, Flex, RF Structure of general PCB market – based on technologies Source: Prismark PCB Report 2Q17/ August 2017; AT&S Controlling
  • 11. Investor and Analyst Presentation 10 Market trends Miniaturization and modularization still the main trends 10 Yole , AT&S AG (2018) Mobile Phone Desktop Notebook Smartphone Tablet Convertible Internet of Things AR&VR Virtual Reality Artificial Intelligence (AI) Smart Home Smart Cities Smart Speaker Smartwatch Datacenter/ Server Vehicle electrification Autonomous driving “real time” Connectivity (5G) ~ 2000 ~ 2010 COMPUTING & CONNECTIVITY + SENSING + ACTUATING ~ 2020+
  • 12. Investor and Analyst Presentation 11 PCB & IC substrates market – Overview 15.3 16.4 18.6 21.4 8.3 9.8 5.5 6.43.9 4.4 2.5 2.7 5.6 6.1 2018 2022 IC Substrates Military/Aerospace Industrial/Medical Automotive Consumer Communication Computing 3.1% 3.9% 4.3% 1.8% 3.5% 2.3% 59.7 67.2 Forecast for the total PCB & IC substrates market until 2022: CAAGR of 3.0% 2.2% USD in billions 11 AT&S outperformed a flat market in the past 6 years and is set to continue to do so also in the future. 100.8 103.2 96.4 94.6 103.2 108.9 123.1 140.8 150.4 183.0 60 80 100 120 140 160 180 200 2012* 2013 2014 2015 2016 2017 Index (2012 = 100)* PCB & substrates market AT&S revenue * Basis 2012: PCB & substrates market: USD 55.7bn AT&S revenue: € 542m AT&S outperformed the market by scaling high-end any-layer technology and by leveraging HDI technology to the Computer-, Consumer-, Automotive-, Industrial and Medical market. Source: Prismark, February 2018, Yole April 2017
  • 13. Investor and Analyst Presentation 12 Driving the industry: miniaturization & modularization ? 2003/04 2013 2017 202X TYPE Mobile Phone Smartphone Smartphone All in One PCB 125x55mm 85x20mm 80x20mm 25x25mm? FORM FACTOR 1 0.25 0.23 0.06? LINE/SPACE 100/100µm 40/40µm 30/30µm 10/10µm TECHNOLOGY 1-n-1 Any-layer mSAP – Any-layer FO/SAP/mSAP
  • 14. Investor and Analyst Presentation 13 Future positioning as leading high-end interconnect solutions provider Core business New technologies and interconnect solutions Extended technology toolbox Additional customers Additional applications Broader positioning in the value chain + MorethanAT&S Overview of the transformation from a high-end PCB manufacturer to a high-end interconnect solutions provider:
  • 15. Investor and Analyst Presentation 14 Table of Contents Company Overview Strategy & Market FY 2017/18 & Outlook Annex
  • 16. Investor and Analyst Presentation 15 Highlights in the financial year 2017/18  Very successful year 2017/18  Growth in all business segments above market average  High operating performance (utilization, yield, efficiency)  Position as technology leader in a challenging industry strengthened  Ramp-up of the new mSAP lines in record time  Operational improvement in the area of IC substrates  Successful positioning in the high-frequency segment  Balance sheet structure significantly strengthened through hybrid bond (€ 173.0 million)  AT&S again listed on the Austrian lead index ATX  Among the top performers of the Vienna Stock Exchange with share price gaining 113.8 % in FY 2017/18 Record levels for revenue, EBITDA and EBIT 15
  • 17. Investor and Analyst Presentation 16 Preliminary results for the financial year 2017/18  Revenue up 21.7% to € 991.8 million  High-end printed circuit boards for mobile devices, especially mSAP and IC substrates, contributed to revenue growth  Strong demand in the automotive, industrial, medical segments  Negative exchange rate effects amounting to €-46.8 million had an impact on revenue  Generally high operating performance and product mix improve earnings  EBITDA margin: 22.8% (PY: 16.1%)  EBIT margin: 9.1% (PY: 0.8%)  EPS improved from €-0.59 to €1.38  Capex of € 141.7 million financed from cash flow from operating activities  Equity ratio increased to 46.5% due to issue of hybrid bond  Debt repayment period (net debt/EBITDA) improved to 0.9 years  Dividend of € 0.36 (PY: € 0.1) proposed Record levels for revenue and EBITDA 16
  • 18. Investor and Analyst Presentation 17 Revenue and EBITDA development € in millions 17 Split revenue FY 2017/18: Business Unit Split revenue FY 2017/18: Customer Region 17 66% 34% Mobile Devices & Substrates Automotive, Industrial, Medical 63% 21% 10% 6% Americas Germany/Austria Asia Other European countries Revenue: YoY: + 21.7%: very good product mix, high demand and additional revenue from all plants EBITDA: YoY: + 72.6 %: expansion capex, high operational performance, successful introduction & optimization of mSAP 199.8 199.6 286.0 280.2 225.9 814.9 991.8 28.8 29.7 74.7 85.9 35.7 130.9 226.0 Q4 2016/17 Q1 2017/18 Q2 2017/18 Q3 2017/18 Q4 2017/18 FY 2016/17 FY 2017/18 Revenue EBITDA and margin 16.1%30.7%26.1%14.9%14.4% 15.8% 22,8%
  • 19. Investor and Analyst Presentation 18 Net CAPEX & Staff Net CAPEX FY 2017/18: CAPEX at a high level due to mSAP upgrade and Chongqing phase 1 € in millions 90.3 164.8 254.3 240.7 141.7 2013/14 2014/15 2015/16 2016/17 2017/18 * incl. contractors, FTE, average for the period Staff* Increase in number of employees by more than 2,900 7,027 7,638 8,759 9,526 9,981 2013/14 2014/15 2015/16 2016/17 2017/18
  • 20. Investor and Analyst Presentation 19 Business Development – Mobile Devices & Substrates 113.7 113.6 197.6 199.6 137.2 486.5 648.0 12.4 20.9 59.4 75.0 23.7 68.5 179.0 Q4 2016/17 Q1 2017/18 Q2 2017/18 Q3 2017/18 Q4 2017/18 FY 2016/17 FY 2017/18 Revenue EBITDA  Successful introduction of mSAP technology  Operational improvements in IC substrates  EBITDA improvements as a result of product mix  Very strong Q2 and Q3, seasonality in Q4  Price pressure on IC substrates remains € in millions (unless otherwise indicated) FY 2016/17 FY 2017/18 Change in % Revenue 573.0 738.9 29.0% Revenue with external customers 486.5 648.0 33.2% EBITDA 68.5 179.0 161.3% EBITDA margin 12.0% 24.2% - € in millions; * Revenue with external customers Revenue* and EBITDA
  • 21. Investor and Analyst Presentation 20 84.9 85.0 87.3 79.3 87.7 324.1 339.3 14.5 9.7 13.2 9.3 14.5 51.5 46.8 Q4 2016/17 Q1 2017/18 Q2 2017/18 Q3 2017/18 Q4 2017/18 FY 2016/17 FY 2017/18 Revenue EBITDA Business Development – Automotive, Industrial, Medical  Continued growth path in all sub-segments, particularly in Industrial and Medical  EBITDA 2016/17: € 44.3 m (included a reversal of provision of € 7.2 m)  EBITDA margin impacted by negative FX effects, higher raw material prices € in millions (unless otherwise indicated) FY 2016/17 FY 2017/18 Change in % Revenue 351.5 364.9 3.8% Revenue with external customers 324.1 339.3 4.7% EBITDA 51.5 46.8 (9.1%) EBITDA margin 14.6% 12.8% - Revenue* and EBITDA € in millions; * Revenue with external customers
  • 22. Investor and Analyst Presentation 21 Outlook for 2018/19  Seasonality expected for mobile devices segment, especially in Q1  Technology development projects in CHQ I as preparation of second phase in implementation  Further expansion in CHQ II depending on market development – next evaluation in mid-2018  Technology expansion and capacity increase in the area of autonomous driving at the sites in Nanjangud (India) and Fehring (Austria) currently implemented  Maintenance investments and minor technology upgrades of roughly € 70 to 100 million  Investments in capacity and technology expansion by another € 100 million depending on market development  Outlook 2018/19: Revenue growth by up to 6% and EBITDA margin at 20 to 23% Core business with stable and growing demand in a competitive environment
  • 23. Investor and Analyst Presentation 22 Medium-term strategy – More than AT&S  Path of value-added growth will be pursued consistently  Focus on leading position in terms of technology, quality and results  New revenue target of € 1.5 billion  EBITDA margin of 20 to 25% Positioning as a leading high-end interconnect provider
  • 24. Investor and Analyst Presentation 23 Table of Contents Company Overview Strategy & Market FY 2017/18 & Outlook Annex
  • 25. Investor and Analyst Presentation 24 AT&S – Stock Profile Listing: Vienna Stock Exchange, Prime Standard Indices: ATX Prime, WBI Thomson Reuters (A): ATSV.VI Bloomberg (A): ATS:AV Publication of the Annual Report 2017/18 06 June 2018 Record date Annual General Meeting 25 June 2018 24th Annual General Meeting 05 July 2018 Ex-dividend day 24 July 2018 Record date dividend 25 July 2018 Dividend payment day 26 July 2018 Results for the first quarter 2018/19 31 July 2018 Results for the second quarter 2018/19 31 July 2018 Financial Calendar Shareholder structure # of shares outstanding 38.85m Average daily volume*: ~ 115,000 shares Performance 1 year*: +107% Dividend proposal 2017/18: € 0.36 per share * 02/05/2017 – 30/04/2018
  • 26. Investor and Analyst Presentation 25 Market development  Communication  Decline in smartphone sales volume by 2.3% for the first time in 2017  2018 – 2020 5G-capable smartphones provide for above-average growth of 2.8% p.a.  Computer  Slight decline of overall market by approx. 2.5% in 2017  Slight increase forecast for servers in 2018, while tablet sales stagnate  2018 – 2020 average growth of roughly 1.8% p.a.  Consumer  Market trend is the interconnection of devices (“Connected Devices”, “Internet of Things” – “IoT”)  2018 – 2020 average annual growth of roughly 4.3% p.a.  IC substrates  2017 slight growth with a total market volume of $ 5.4 billion  “System-in-package” or “all-in-one” modules for the integration of functions are the growth drivers for the future  2018 – 2020 growth rate of 2.8% p.a. Development in the customer segments in the calendar year 2017
  • 27. Investor and Analyst Presentation 26 Market development  Automotive electronics  Strong growth due to continuous increase in the proportion of electronics in vehicles  Electrification, interconnection and autonomous driving are the growth drivers  2018 – 2020 growth of 3.9% p.a.  Industrial electronics  Stable growth in 2017 at 2.9% due to automation and energy efficiency  Driven by robotics, automation and Industry 4.0 activities  2018 – 2020 growth by up to 3.4% p.a.  Medical electronics  Growth in 2017 by roughly 4.8% in mobile diagnostic equipment and therapy devices  High complexity in applications such as diagnostic and imaging devices, mobile devices on and in the body  2018 – 2020 growth rates of 2.1% p.a. Development in the customer segments in the calendar year 2017 26
  • 28. Investor and Analyst Presentation 27 Financials FY 2017/18 Hybrid bond issue (€ 173.0m) Full Capex financed from operating cash flow € in thousands 01 Apr 2016 – 31 Mar 2017 01 Apr 2017 – 31 Mar 2018 Change YoY STATEMENT OF CASH FLOWS Operating result (EBIT) 6,649 90,286 >100% Paid/received interests (15,962) (13,875) 13.1% Income taxes paid (12,370) (26,015) (>100%) Non cash bearing of profit or loss 112,207 141,705 26.3% Cash flow from operating activities before changes in working capital 90,524 192,101 >100% Changes in working capital 45,892 (48,910) (>100%) Cash flow from operating activities 136,416 143,191 5.0% Cash flow from investing activities (161,148) (193,389) (20.0%) Cash flow from financing activities 54,872 135,547 >100% Change in cash and cash equivalents 30,140 85,349 >100% Operating free cash flow1) (104,253) 1,492 >100% Free cash flow2) (24,732) (50,198) (>100%) 1) Cash flow from operating activities minus Net CAPEX 2) Cash flow from operating activities minus cash flow from investing activities
  • 29. Investor and Analyst Presentation 28 Financials FY 2017/18 Increase as a result of hybrid bond issue and net profit Negative FX effects (mainly RMB-EUR and USD-EUR) of € 53.5 m. Positive: Hybrid bond issue (€ 173.0m) In 2016/17 special net debt optimization program Hybrid bond issue (€ 173.0m) € in thousands (unless otherwise stated) 31 Mar 2017 31 Mar 2018 Change STATEMENT OF FINANCIAL POSITION Non-current assets 1,029,363 944,267 (8.3%) Current assets 407,331 586,172 43.9% Equity 540,094 711,391 31.7% Non-current liabilities 569,849 515,276 (9.6%) Current liabilities 326,751 303,772 (7.0%) Total assets 1,436,694 1,530,439 6.5% Net debt 380,549 209,237 (45.0%) Net debt/EBITDA 2.9x 0.9x (2.0pp) Net gearing 70.5% 29.4% (41.1pp) Net working capital 24,374 72,437 >100% Net working capital per revenue 3.0% 7.3% 4.3pp Equity ratio 37.6% 46.5% 8.9pp
  • 30. Investor and Analyst Presentation 29 Financials FY 2017/18 High demand, additional revenue contribution mainly from both plants in Chongqing, Negative FX impact of € 46.8 m. Generally high operational performance, successful implementation & optimization of mSAP technology Further reduction mainly due to positive FX impact Significantly higher earnings Capitalization of deferred taxes in Austria Reduced tax scheme in Shanghai effected € in thousands (unless otherwise stated) 01 Apr 2016 – 31 Mar 2017 01 Apr 2017 – 31 Mar 2018 Change YoY STATEMENT OF PROFIT OR LOSS Revenue 814,906 991,843 21.7% produced in Asia 82% 84% 2pp produced in Europe 18% 16% (2pp) EBITDA 130,933 225,977 72.6% EBITDA margin 16.1% 22.8% 6.7pp EBIT 6,649 90,286 >100% EBIT margin 0.8% 9.1% 8.3pp Finance costs – net (17,499) (14,775) 15.6% Income taxes (12,047) (18,992) (57.6%) Profit/(loss) for the year (22,897) 56,519 >100% Cash earnings 101,764 192,211 88.9% Earnings per share (€ 0.59) € 1.38 >100%
  • 31. Investor and Analyst Presentation 30 Key credit figures 299 372 405 523 593 540 82 261 274 260 212 331 217 111 131 263 381 209 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 Gross debt Financial assets and cash Net debt 0.9 0.8 1.6 2.9 0.9 2013/14 2014/15 2015/16 2016/17 2017/18  Target: < 3x Net debt/EBITDA  Net debt decrease based on lower net capex (Chongqing phase I finished) & Hybrid bond issue € in millions Gross debt, financial assets and cash, net debt Multiple
  • 32. Investor and Analyst Presentation 31 Net Working Capital Management € in millions; % of revenue Net Working Capital development 103 92 95 88 24 72 19.0% 15.6% 14.3% 11.6% 3.0% 7.3% 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 Net working capital Net working capital per revenue
  • 33. Investor and Analyst Presentation 32 AT&S Product Portfolio – I ECP®: Embedded Component Packaging IC substrates Substrate-like printed circuit boards mSAP Embedded Component Packaging allows to embed active/passive components (e.g. wafer level dies) within the layers of a PCB – contributes to miniaturization. IC substrates serve as interconnection platform with higher density (Line/Space < 15 micron) between semiconductors (Chips) & PCBs . Substrate-like PCBs (mSAP technology) are the next evolution of high-end HDI PCBs with higher density: Line/Space < 30 micron. Production site Leoben, Shanghai Chongqing Chongqing, Shanghai Applications Devices such as smartphones, tablets, digital cameras and hearing aids High-end processors for Computer, Communication, Automotive, Industrial Mobile applications like smartphones
  • 34. Investor and Analyst Presentation 33 HDI any-layer printed circuit boards HDI microvia printed circuit boards – high density interconnect Multilayer printed circuit boards Double-sided printed circuit boards IMS printed circuit boards – insulated metal substrate Further technological enhancement to HDI microvia: All electrical connections in HDI any-layer boards consist of laser- drilled microvias. Advantage: further miniaturization, and higher performance and reliability. AT&S produces HDI any-layer in 4 to 12 layers. HDI: high density interconnect, meaning laser-drilled connections (microvias). HDI is first step towards miniaturization. AT&S can produce 4-layer laser PCBs up to 6-n-6 HDI multi layer PCBs. Found in almost every area of industrial electronics. AT&S produces printed circuit boards with 4 to 28 layers, in quantities from individual prototypes to small batches and mass production. Used in all areas of electronics. AT&S focuses on double-sided printed circuit boards with thicknesses in the range of 0.1- 3.2mm. IMS: insulated metal substrate. Primary function: heat dissipation for use mainly with LEDs and power components. Production site Shanghai Shanghai, Leoben Leoben, Nanjangud, Fehring Fehring, Nanjangud Fehring Applications Smartphones, Tablets, Notebooks Mobile phones and nearly all electronic applications including automotive (navigation, infotainment and driver assistance systems) Used in all electronic applications including touch panels, and in products ranging from aircraft to motorcycles, from storage power plants to solar arrays Primarily industrial and automotive applications Lighting industry AT&S Product Portfolio – II
  • 35. Investor and Analyst Presentation 34 Flexible printed circuit boards Semi-flexible printed circuit boards Rigid-flex printed circuit boards Flexible printed circuit boards on aluminum AT&S patented technologies Used to replace wiring and connectors, allowing for connections and geometries that are not possible with rigid printed circuit boards. More limited bend radius than flexible printed circuit boards. The use of a standard thin laminate makes them a cost-effective alternative. Combine the advantages of flexible and rigid printed circuit boards, yielding benefits for signal transmission, size and stability. Used when installing LEDs in car headlights, for example, where the printed circuit board is bonded to an aluminum heat sink to which the LEDs are then attached. Production site Ansan, Fehring Fehring Leoben, Ansan Ansan Applications Nearly all areas of electronics, including measuring devices and medical applications Automotive applications Industrial electronics, such as production machines and industrial robots Lighting, automotive, building lighting AT&S Product Portfolio – III ECP®: Embedded Component Packaging ECP® is a patented AT&S packaging technology used to embed active and passive electronic components in the inner layers of a printed circuit board. ECP® technology is used in ever smaller, more efficient and more powerful devices, such as smartphones, tablets, digital cameras and hearing aids. Production sites: Leoben, Shanghai 2.5D® Technology Platform Combines mechanical and electronic miniaturization, and enables partial reduction of the thickness of a circuit board. Advantage: populated assemblies have a thinner profile. Can be also used to make cavities in the printed circuit board, e.g. for acoustic channels. Major application for this technology is the 2.5D® rigid- flex printed circuit board, a lower cost alternative for flex-to install applications. Production sites: Leoben, Shanghai
  • 36. Investor and Analyst Presentation 35 Management Andreas Gerstenmayer, CEO  Joined AT&S as CEO in 2010  Previous positions include:  18 years of work experience at Siemens, including Managing Director with Siemens Transportation Systems GmbH Austria and CEO of the Drive Technology business unit in Graz from 2003 to 2008  Partner at FOCUSON Business Consulting GmbH after leaving Siemens  Education:  Degree in Production Engineering from Rosenheim University of Applied Sciences Monika Stoisser- Göhring, CFO  CFO since 2017  Previous positions include:  Since 2011 with AT&S in senior positions in Finance and Human Resources  Various positions at international accounting and tax consulting companies  Education:  Training as Tax Consultant  Degree in Business Administration from Karl-Franzens University Graz Heinz Moitzi, COO  COO since 2005; with AT&S since 19811)  Previous positions include:  Various management positions within AT&S  Measurement engineer with Leoben University of Mining and Metallurgy  Education:  Degree from Higher Technical College of Electrical Engineering 1)He was already with the founding company of AT&S
  • 37. Investor and Analyst Presentation 36 Milestones in the Group’s history 1987 Founding of the Group, emerging from several companies owned by the Austrian State Owned Industries 1994 Privatization and acquisition by Messrs Androsch, Dörflinger, Zoidl 1999 Initial public offering on Frankfurt Stock Exchange („Neuer Markt“). Acquisition of Indal Electronics Ltd., largest Indian printed circuit board plant (Nanjangud) – today, AT&S India Private Limited 2002 Start of production at new Shanghai facility – one of the leading HDI production sites in the world 2010 Start of production at plant II in India 2009 New production direction: Austrian plants produce for high-value niches in the automotive and industrial segment; Shanghai focuses on the high-end mobile devices segment 2008 AT&S change to Vienna Stock Exchange 2006 Acquisition of Korean flexible printed circuit board manufacturer, Tofic Co. Ltd. – today, AT&S Korea Co., Ltd. 2015 AT&S again achieves record high sales and earnings for financial year 2014/15 and decides to increase the investment program in Chongqing from € 350 million to € 480 million 2011  Construction starts on new plant in Chongqing, China  Capacity increase in Shanghai by 30% 2013 AT&S enters the IC substrate market in cooperation with a leading manufacturer of semiconductors 2016 AT&S starts serial production of IC substrates at the plant in Chongqing
  • 38. Investor and Analyst Presentation 37 A sustainability benchmark in the industry 37 “Highest resource efficiency“ “Highest standards at all locations worldwide“ “Highest transparency“ * Basis for CO2 output: 2015/16  Sustainability reporting since 2012/13  Gold recognition from the Responsible Business Alliance  Conflict minerals reporting  Public CDP reporting on climate change (C score) and water (B score) Resource consumption stable/declining Revenue growth  Environment: ISO 14001  Safety: OHSAS 18001  Energy: ISO 50001  Quality: ISO 9001, ISO/TS 16949 AS/EN 9100, DS/EN 13485
  • 39. Investor and Analyst Presentation 38 AT&S – First choice for advanced applications IR contact Gerda Königstorfer Tel: +43 3842 200 5925 Mobile: +43 676 8955 5925 Fax: +43 3842 200 15909 g.koenigstorfer@ats.net Johannes Mattner Tel: +43 3842 200 5450 Mobile: +43 676 8955 6093 Fabriksgasse 13, 8700 Leoben/Austria www.ats.netVisit: www.ats.net; @AT&S IR_PR; AtundS
  • 40. Investor and Analyst Presentation 39 Disclaimer This presentation is provided by AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, having its headquarter at Fabriksgasse 13, 8700 Leoben, Austria (“AT&S”), and the contents are proprietary to AT&S and for information only. AT&S does not provide any representations or warranties with regard to this presentation or for the correctness and completeness of the statements contained therein, and no reliance may be placed for any purpose whatsoever on the information contained in this presentation, which has not been independently verified. You are expressly cautioned not to place undue reliance on this information. This presentation may contain forward-looking statements which were made on the basis of the information available at the time of preparation and on management‘s expectations and assumptions. However, such statements are by their very nature subject to known and unknown risks and uncertainties. As a result, actual developments, results, performance or events may vary significantly from the statements contained explicitly or implicitly herein. Neither AT&S, nor any affiliated company, or any of their directors, officers, employees, advisors or agents accept any responsibility or liability (for negligence or otherwise) for any loss whatsoever out of the use of or otherwise in connection with this presentation. AT&S undertakes no obligation to update or revise any forward-looking statements, whether as a result of changed assumptions or expectations, new information or future events. This presentation does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities, and neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. This presentation does not constitute any financial analysis or financial research and may not be construed to be or form part of a prospectus. This presentation is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.