AT&S              Company Presentation                           February 2013www.ats.net
Disclaimer                                                     AT&S Austria Technologie & Systemtechnik                   ...
Overview           2
Business model Austria Technologie & Systemtechnik AG (AT&S) is the largest producer of printed circuit boards in  Europe...
Locations   6 production facilities worldwide   Purchasing & Sales Office: Hong Kong, China   Design-Center: Nörvenich,...
We operate in an atractive market                                    5
Historical Cycles in the PCB Production    Growth Rates   4% 10% 37% 15% -5% 12% 47% 10% 1% 7% -12% -4% 14% 10% 16% 13% 10...
We only focus on high end technology                                                                                      ...
Highly Fragmented Market  Overall Market Situation (2011)                                                  Comments*)     ...
Our Strategy – an Austrian successstory                                     9
The complexity and density of our productsincrease every yearAbb. 1: Motorola 3200 International (1982), first GSMmobile d...
Chip designs drives the our PCBtechnology      Yesterday                            Today                     Tomorrow    ...
Construction of Chongqing Plant       Phase 3                                                      Phase 2                ...
Half – Year Results
Distribution of Turnover   Distribution of Turnover                                                                 Distri...
Segment Turnover Mobile Devices                                                                       Distribution of Segm...
Financial Figures Q3 2012/13     In EUR 000                                        Q1 - Q3 2012/13           Q1 - Q3 2011/...
Financial Figures Q3 2012/13    In EUR 000                                                   Q1 - Q3 2012/13          Q1 -...
Development of Capital Investment     Net investments relates to Shanghai and                                             ...
Investment Highlights                        19
Investment Highlights Technology leader in HDI* any-layer printed circuit boards Close technology partnerships with inte...
To find out more – visit www.ats.netDanke für Ihre Aufmerksamkeit!
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At&s company internet presentation february 2013

  1. 1. AT&S Company Presentation February 2013www.ats.net
  2. 2. Disclaimer AT&S Austria Technologie & Systemtechnik Aktiengesellschaft Martin Theyer Director of Strategy & IR/PR Fabriksgasse 13 A-8700 Leoben Tel: +43 3842 200 5909 Email: m.theyer@ats.netDespite a diligent preparation of this presentation we assume no liability for the content or any action basedon this presentation. We do not give any warranty, guarantee or commitment, neither explicitly nor implicitly.Neither AT&S nor any of its employees assume responsibility for the completeness or accuracy of theinformation contained or not in this presentation. The presentation does not include and does not constituteor form part of any offer whatsoever, nor does it constitute or form part of any kind of prospectus.This presentation contains certain forward-looking statements. Actual results may differ materially fromthose projected or implied in such forward-looking statements. Forward-looking information involves risksand uncertainties that could significantly affect expected results. 1
  3. 3. Overview 2
  4. 4. Business model Austria Technologie & Systemtechnik AG (AT&S) is the largest producer of printed circuit boards in Europe and India, and also ranks among the industry leaders worldwide in innovation and the continuing development of printed circuit board manufacturing technologies. The AT&S Group employs more than 7,500 people around the world. AT&S’s main business divisions are Mobile Devices, Industrial & Automotive. Its core activity is the manufacture of high-end printed circuit boards – the nerve centres of so many electronic appliances. AT&S is headquartered in Austria and carries out research and development in Austria and China. It has production facilities in Austria, China, India and Korea, a sales service and design centre in Germany, and a sales network spanning four continents. 3
  5. 5. Locations 6 production facilities worldwide Purchasing & Sales Office: Hong Kong, China Design-Center: Nörvenich, Germany Chongqing 16 Sales Offices on four continents ~ under construction About 7 500 employees R&D: Hinterberg and Shanghai – Cooperation with well-known partners from Industry and Science Fehring: ~380 people Shanghai: Leoben-Hinterberg: ~4.900 people Head Quarter ~755 people Klagenfurt: Nanjangud-Indien: ~110 people ~1.040 people Ansan-Korea: ~235 people 4
  6. 6. We operate in an atractive market 5
  7. 7. Historical Cycles in the PCB Production Growth Rates 4% 10% 37% 15% -5% 12% 47% 10% 1% 7% -12% -4% 14% 10% 16% 13% 10% 5% 5% 18% -22% -3% 7% 12% 9% 12% 6% 1% -13% 24% 3% 5% 7% 7% 7%Source: Prismark (2012) 6
  8. 8. We only focus on high end technology OverallOverall Market developmentMarket per Segments 2011 – 2016 [Mio. US $] Market per Technology 2011 – 2016 [Mio. US $] 74.087 Segment CAGR 74.087 Segment CAGR 11.829 11.829 IC Substrate 6,5% IC Substrate 6,5% 5,8% 5,8% Av. & Security 2,5% 2.425 13.237 1.462 Medical 6,0% 55.794 5.486 55.794 Flex/R-Flex 7,5% 8.636 3.816 Industrial 13,0% 8.636 8.268 Automotive 4,5% 11.019 2.146 9.205 HDI 1.090 Consumer 2,6% 8,2% 2.975 3.067 18.331 27.646 7.278 Communication 7.423 6,6% 13.312 22.458 ML 4,2% 22.471 17.290 Computing 5,4% DS 4,5% 6.762 5.420 SS 6,3% 2.652 3.593 2011 2016 2011 2016Market Data 2012. Source: Prismark (2012); AT&S 7
  9. 9. Highly Fragmented Market Overall Market Situation (2011) Comments*) • % of the overall PCB sales • Top 10: >28% • Top 25: >50% • Top 50: >69% • Top 100: >85% • Median growth [%] (2009 to 2010): • Top 10: 35% • Top 25: 26% • Top 50: 24% • Top 100: 26% *) Base: 2011 revenuesSource: Nakahara (2011); Strategy 8
  10. 10. Our Strategy – an Austrian successstory 9
  11. 11. The complexity and density of our productsincrease every yearAbb. 1: Motorola 3200 International (1982), first GSMmobile device, Abb. 2: Abb. 4: Samsung Galaxy Skin mit Flex-Quelle: © REUTERS / Lou Dematteis Screen, - market entry planned 2013 Quelle: Samsung
  12. 12. Chip designs drives the our PCBtechnology Yesterday Today Tomorrow Chips Package-on Package System in Package Subst. DesignMajor Impact on Design Chain: Concurrent Design Sequential Design Chip Substrate PCB Module Design Design Design Design Chip PCB Design Design® ATS AG 11
  13. 13. Construction of Chongqing Plant Phase 3 Phase 2 Phase 1 admin. building under construction under constructionAT&S is taking the next logical step by expanding its portfolio with the production ofIntegrated Circuit (IC) Substrates in Chongqing (Capex approx. EUR 350 mln ) © AT&S AG 12
  14. 14. Half – Year Results
  15. 15. Distribution of Turnover Distribution of Turnover Distribution of Turnover by Ship to Party Headquarter 50% Austria+Germany 55% Austria+Germany Rest of Europe 13% Rest of Europe Asia 13% 11% Asia Canada/USA 7% 26% 25% Canada/USA Turnover YTD 2012/13 Turnover YTD 2012/13Figures are based on internal management information systems and are subject to change | Source: AT&S AG 14
  16. 16. Segment Turnover Mobile Devices Distribution of Segment Turnover First 9 months revenues up from EUR 211m to EUR in EURm 229m 100.0 Q1 FY11/12  sales reached new record high Q2 FY11/12 90.7  new products launched successfully 90.0 Q3 FY11/12 85.8  good loading in Shanghai during the last 3 months 81.4 Q4 FY11/12 80.0 Q1 FY12/13  new OEMs added to customer portfolio 75.1 69.8 Q2 FY12/13 70.0 68.7 Q3 FY12/13 59.6 Industrial & Automotive 60.0 56,2 55.9 59.1 54.7 55.5 56.3 First 9 months revenues up from EUR 159m to EUR 175m 50.0 .47,7  automotive growth rate of 10% YoY, HDI growth of 50% (HDI boards for Multimedia, driver assistance 40.0 and lighting applications)  medical segment grows by more than 50% => 30.0 applications for medical therapy doubled within the last fiscal year especially for flex boards 20.0  Hinterberg shows sustainable performance due to growing prototype business 10.0  industrial development in line with the overall European economic environment 0.0 Mobile Devices Industrial & Automotive 15Figures are based on internal management information systems and are subject to change | Source: AT&S AG 15
  17. 17. Financial Figures Q3 2012/13 In EUR 000 Q1 - Q3 2012/13 Q1 - Q3 2011/12 CONSOLIDATED INCOME STATEMENT Revenues 405,121 371,754 Produced in Asia (in %) 75 72 Produced in Europe (in %) 25 28 EBITDA 74,426 75,913 EBITDA margin (in %) 18.4 20.4 EBIT 20,981 31,644 EBIT margin (in %) 5.2 8.5 Net income 5,439 21,864 Cash Earnings 58,883 66,159Figures are based on internal management information systems and are subject to change | Source: AT&S AG 16
  18. 18. Financial Figures Q3 2012/13 In EUR 000 Q1 - Q3 2012/13 Q1 - Q3 2011/12 CONSOLIDATED BALANCE SHEET Total assets 709,546 722,209 Total equity 289,225 289,293 Net debt 252,143 255,727 Net gearing (in %) 87.2 88.4 Net working capital 120,774 108,184 Net working capital / revenues (in %) 22.4 21.8 Equity ratio (in %) 40.8 40.1Figures are based on internal management information systems and are subject to change | Source: AT&S AG 17
  19. 19. Development of Capital Investment Net investments relates to Shanghai and No material changes in net debt and net gearing. construction activities for Chongqing Phase I. 270 244 255 252 100% 243 30 240 85% Net Debt (in EURm) Net CAPEX ( in EURm) 25 210 Net Gearing 70% 180 20 21 150 55% 15 16 120 40% 90 10 25% 9 60 5 8 10% 30 - - -5% Q4 11/12 Q1 12/13 Q2 12/13 Q3 12/13 Q4 11/12 Q1 12/13 Q2 12/13 Q3 12/13Figures are based on internal management information systems and are subject to change | Source: AT&S AG 18
  20. 20. Investment Highlights 19
  21. 21. Investment Highlights Technology leader in HDI* any-layer printed circuit boards Close technology partnerships with international corporations Leading supplier to all big-name manufacturers of smartphones and tablets Leading supplier to the European automotive industry Successful high-end niche-strategy Largest European printed circuit board manufacturer Competitive manufacturing capacities in Asia – most highly automated HDI plant in China Largest printed circuit board manufacturer in India High social and ethical standards in all facilities worldwide* High Density Interconnect (laser-drilled printed circuit 20boards)
  22. 22. To find out more – visit www.ats.netDanke für Ihre Aufmerksamkeit!

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