This document provides an investor and analyst presentation for AT&S Austria Technologie & Systemtechnik Aktiengesellschaft. The following key points are summarized:
- AT&S achieved record results in FY 2017/18 with revenue of €991.8 million (+21.7%) and EBITDA of €226 million (+72.6%). This was driven by strong demand across all business segments.
- AT&S focuses on high-end interconnect solutions for applications in mobile devices, automotive, industrial, medical, and semiconductor industries. Miniaturization and modularization trends continue to drive the market.
- The strategy is to expand technology leadership, achieve profitable growth, and create shareholder value
AT&S Investor and Analyst Presentation September 2019 AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates. The summary is:
1) AT&S provides an overview of the company, its global footprint, investment highlights including its technology leadership position and financial results for Q1 2019/20.
2) Revenue was flat for Q1 2019/20 at €222.7 million due to diversified products compensating for market fluctuations, though EBITDA declined due to seasonal effects and a challenging market environment.
3) The presentation discusses the company's strategic focus on high-end technologies and driving future trends through innovation and expansion to achieve medium-term targets.
AT&S Investor and Analyst Presentation August 2018AT&S_IR
- AT&S is a leading provider of printed circuit boards and IC substrates headquartered in Austria.
- In Q1 2018/19, AT&S saw revenue increase 11.2% to €222.1 million due to additional contributions from its new plant in Chongqing, China and higher demand for IC substrates.
- EBITDA margin increased significantly to 23.4% in Q1 2018/19 from 14.9% in the prior year period, driven by the higher contribution from Chongqing as well as one-time valuation effects.
AT&S Investor and Analyst Presentation March 2018AT&S_IR
- AT&S is a leading global manufacturer of printed circuit boards and IC substrates headquartered in Austria.
- The presentation provides an overview of AT&S's strategy, markets, and financial results for investors and analysts.
- Key points include outlining AT&S's focus on high-end technologies, strategic goals of long-term growth and profitability, and financial results showing increased revenue and strong earnings in the first three quarters of FY 2016/17.
AT&S Investor and Analyst Presentation August 2019 von AT&S_IRAT&S_IR
AT&S presented its investor and analyst presentation for August 2019. Some key points:
- AT&S is a leading provider of high-end printed circuit boards and IC substrates.
- In Q1 2019/20, revenue was flat at €222.7 million but EBITDA declined due to challenging market conditions and higher R&D costs.
- Growth opportunities exist across all segments due to trends like 5G, AI, and electric vehicles. However, some segments like automotive currently face temporary slowdowns.
- AT&S is initiating its next growth step with a planned €1 billion investment over 5 years in a new IC substrate plant in China and expansion in Austria to capture demand for high
AT&S Investor and Analyst Presentation February 2018AT&S_IR
- AT&S is a leading global manufacturer of printed circuit boards and IC substrates headquartered in Austria.
- They provide high-end interconnect solutions for applications in mobile devices, automotive, industrial, and medical sectors.
- In their investor presentation, they outline their strategy to expand their technology leadership position and achieve long-term profitable growth through focusing on fast-growing applications and maintaining highest service levels for customers.
AT&S Investor and Analyst Presentation August 2018AT&S_IR
AT&S presented its strategy and financial results for investors and analysts. Key points include:
- AT&S aims to become the leading provider of high-end interconnect solutions through innovation, profitable growth, and shareholder value creation.
- The company is expanding into new technologies like IC substrates to diversify beyond PCBs.
- In Q1 2018/19, AT&S grew revenue 11% to €222 million and improved its EBITDA margin to 23%, driven by contributions from its new Chongqing plant.
- AT&S has a global footprint across 6 plants and aims to reach €1.5 billion in revenue through focus on fast-growing applications like medical devices and autom
- AT&S is a leading provider of printed circuit boards and IC substrates for applications such as mobile devices, automotive, industrial, medical, and more.
- In fiscal year 2019/20, AT&S achieved over €1 billion in revenue but saw declines in EBITDA and earnings per share due to lower sales volume, unfavorable product mix, and impacts of COVID-19.
- However, AT&S remained profitable with an EBITDA margin within its guided range of 18-20% and continues investing in expanding IC substrate capacities for future growth opportunities in high-performance computing.
This document provides an investor and analyst presentation for AT&S, a leading producer of printed circuit boards and IC substrates. It summarizes that AT&S has a unique market position as a provider of high-end PCBs and substrates for growth applications in mobile devices, automotive, industrial, and medical industries. It also outlines AT&S' global production footprint and technology leadership through continuous R&D efforts. The presentation discusses the company's growth strategy through incremental investments to capture opportunities in megatrend markets and its goal of sustainable profitability above industry averages.
AT&S Investor and Analyst Presentation September 2019 AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates. The summary is:
1) AT&S provides an overview of the company, its global footprint, investment highlights including its technology leadership position and financial results for Q1 2019/20.
2) Revenue was flat for Q1 2019/20 at €222.7 million due to diversified products compensating for market fluctuations, though EBITDA declined due to seasonal effects and a challenging market environment.
3) The presentation discusses the company's strategic focus on high-end technologies and driving future trends through innovation and expansion to achieve medium-term targets.
AT&S Investor and Analyst Presentation August 2018AT&S_IR
- AT&S is a leading provider of printed circuit boards and IC substrates headquartered in Austria.
- In Q1 2018/19, AT&S saw revenue increase 11.2% to €222.1 million due to additional contributions from its new plant in Chongqing, China and higher demand for IC substrates.
- EBITDA margin increased significantly to 23.4% in Q1 2018/19 from 14.9% in the prior year period, driven by the higher contribution from Chongqing as well as one-time valuation effects.
AT&S Investor and Analyst Presentation March 2018AT&S_IR
- AT&S is a leading global manufacturer of printed circuit boards and IC substrates headquartered in Austria.
- The presentation provides an overview of AT&S's strategy, markets, and financial results for investors and analysts.
- Key points include outlining AT&S's focus on high-end technologies, strategic goals of long-term growth and profitability, and financial results showing increased revenue and strong earnings in the first three quarters of FY 2016/17.
AT&S Investor and Analyst Presentation August 2019 von AT&S_IRAT&S_IR
AT&S presented its investor and analyst presentation for August 2019. Some key points:
- AT&S is a leading provider of high-end printed circuit boards and IC substrates.
- In Q1 2019/20, revenue was flat at €222.7 million but EBITDA declined due to challenging market conditions and higher R&D costs.
- Growth opportunities exist across all segments due to trends like 5G, AI, and electric vehicles. However, some segments like automotive currently face temporary slowdowns.
- AT&S is initiating its next growth step with a planned €1 billion investment over 5 years in a new IC substrate plant in China and expansion in Austria to capture demand for high
AT&S Investor and Analyst Presentation February 2018AT&S_IR
- AT&S is a leading global manufacturer of printed circuit boards and IC substrates headquartered in Austria.
- They provide high-end interconnect solutions for applications in mobile devices, automotive, industrial, and medical sectors.
- In their investor presentation, they outline their strategy to expand their technology leadership position and achieve long-term profitable growth through focusing on fast-growing applications and maintaining highest service levels for customers.
AT&S Investor and Analyst Presentation August 2018AT&S_IR
AT&S presented its strategy and financial results for investors and analysts. Key points include:
- AT&S aims to become the leading provider of high-end interconnect solutions through innovation, profitable growth, and shareholder value creation.
- The company is expanding into new technologies like IC substrates to diversify beyond PCBs.
- In Q1 2018/19, AT&S grew revenue 11% to €222 million and improved its EBITDA margin to 23%, driven by contributions from its new Chongqing plant.
- AT&S has a global footprint across 6 plants and aims to reach €1.5 billion in revenue through focus on fast-growing applications like medical devices and autom
- AT&S is a leading provider of printed circuit boards and IC substrates for applications such as mobile devices, automotive, industrial, medical, and more.
- In fiscal year 2019/20, AT&S achieved over €1 billion in revenue but saw declines in EBITDA and earnings per share due to lower sales volume, unfavorable product mix, and impacts of COVID-19.
- However, AT&S remained profitable with an EBITDA margin within its guided range of 18-20% and continues investing in expanding IC substrate capacities for future growth opportunities in high-performance computing.
This document provides an investor and analyst presentation for AT&S, a leading producer of printed circuit boards and IC substrates. It summarizes that AT&S has a unique market position as a provider of high-end PCBs and substrates for growth applications in mobile devices, automotive, industrial, and medical industries. It also outlines AT&S' global production footprint and technology leadership through continuous R&D efforts. The presentation discusses the company's growth strategy through incremental investments to capture opportunities in megatrend markets and its goal of sustainable profitability above industry averages.
AT&S Investor and Analyst Presentation February 2019AT&S_IR
The document is an investor and analyst presentation from AT&S, a leading provider of printed circuit boards and IC substrates.
In the first 3 sentences:
AT&S reported revenue growth of 3.2% to €790.1 million for the first nine months of the fiscal year, with strong demand for IC substrates and in medical applications. EBITDA increased 15.9% to €220.5 million due to efficiency improvements and the absence of start-up costs in Chongqing. The presentation discusses AT&S' financial results, markets, strategy to become a leading high-end interconnect solutions provider, and outlook.
AT&S Investor and Analyst Presentation January 2019AT&S_IR
This document provides an investor and analyst presentation for AT&S Austria Technologie & Systemtechnik Aktiengesellschaft. Some key points:
- AT&S is a leading global provider of printed circuit boards and IC substrates, serving growing end markets like mobile devices, automotive, industrial, and medical.
- In the first nine months of FY 2018/19, AT&S achieved revenue growth to €790.1 million and an increase in EBITDA to €220.5 million, demonstrating strong financial performance.
- The company is well positioned in high-end technologies through its focus on miniaturization and modularization. Its technology leadership and quality are keys to outperforming the broader
The document is a company presentation for AT&S, a leading manufacturer of printed circuit boards and IC substrates. It provides an overview of AT&S, including its strategy, competitive advantages, global footprint, key financials, and positioning in high-end interconnection technologies. AT&S focuses on advanced applications in mobile devices, automotive, industrial, and medical sectors. It aims to strengthen its technology leadership and achieve long-term profitable growth through operational excellence.
AT&S Investor and Analyst Presentation January 2019AT&S_IR
This document provides an investor and analyst presentation from AT&S, a leading provider of high-end printed circuit boards and IC substrates. The summary is:
1) AT&S has a global footprint with 6 plants in Europe and Asia and provides high-end interconnect solutions for mobile devices, automotive, industrial, and medical applications.
2) The presentation outlines AT&S' strategy to position itself as a leading provider of advanced interconnect solutions through a focus on high-end technologies and applications with growth targets of €1.5 billion in revenue and an EBITDA margin of 20-25%.
3) In the first half of the 2018/19 fiscal year, AT&S strengthened its technology
AT&S Investor and Analyst Präsentation September 2018AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates.
The presentation summarizes that AT&S has outperformed the flat PCB market in recent years through scaling high-end technologies. It outlines AT&S' strategy to position itself as a leading provider of high-end interconnect solutions beyond PCBs. Key targets include medium-term revenue of €1.5 billion and an EBITDA margin of 20-25%.
The presentation reviews AT&S' financial results for the first half of the 2018/2019 fiscal year, noting a 6.4% increase in revenue and 32.5% increase in EBITDA compared to the
AT&S Investor and Analyst Presentation December 2018AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates.
The presentation summarizes that AT&S has outperformed the flat PCB market in recent years through scaling high-end technologies. It outlines AT&S' strategy to position itself as a leading provider of high-end interconnect solutions beyond PCBs. Key targets include reaching €1.5 billion in revenue and maintaining an EBITDA margin of 20-25% in the medium term.
Financial highlights of the first half of the 2018/19 fiscal year show revenue growth of 6.4% and a significant 32.5% increase in EBITDA, driven by additional output from
1) The document is an annual report from AT&S, a leading manufacturer of printed circuit boards and IC substrates, reporting on the 2019/20 fiscal year.
2) It highlights key figures such as revenue declining 2.7% year-over-year to €1 billion, EBITDA falling 22.2% to €195 million, and profit for the period declining 75.9% to €21.5 million.
3) AT&S discusses major trends in the industry like 5G mobile networks, increasing data volumes, and growing markets for IC substrates that the company is positioned to capture through expansion.
The document provides an overview of AT&S, a leading manufacturer of printed circuit boards and IC substrates. Some key points:
- AT&S focuses on high-end technologies for applications in mobile devices, automotive, industrial, and medical sectors.
- They have production facilities in Europe and Asia, with the majority of revenue now coming from Asian production.
- Their strategic focus is on innovative interconnect solutions to support trends like miniaturization and the Internet of Things.
- A new plant in Chongqing, China will allow them to expand into new technologies like IC substrates and substrate-like PCBs.
AT&S Investor and Analyst Presentation October 2017AT&S_IR
AT&S is a leading manufacturer of printed circuit boards and IC substrates, focusing on high-end technologies. The company has 6 production plants across Europe and Asia. In Q1 2017/18, AT&S reported revenue growth of 14% year-over-year driven by contributions from its new Chongqing plant in China. EBITDA margins declined due to start-up costs associated with new plants but showed improvements over the previous quarter. AT&S remains focused on expanding its technology leadership position and driving long-term profitable growth through its strategic focus on innovative, high-end applications.
AT&S Investor and Analyst Presentation October 2016AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has six production plants in Europe and Asia. In the past fiscal year, AT&S achieved revenue of €762.9 million with continuous above-market growth and an EBITDA margin of 22%. The company is focusing on high-end technologies and applications with a strategic investment of €480 million in its new Chongqing, China plant to expand production of IC substrates and substrate-like PCBs. While revenue declined in the most recent quarter due to seasonal factors and price pressure, AT&S remains profitable with a adjusted EBITDA margin of over 20% excluding ramp-up costs in Chongqing.
AT&S Investor and Analyst Presentation March 2017 AT&S_IR
AT&S presented an investor and analyst presentation covering the company's strategy and financials. The presentation included:
1) An overview of AT&S' position as a leading manufacturer of high-end printed circuit boards and IC substrates for applications in mobile devices, automotive, industrial, medical, and semiconductors.
2) Details on AT&S' strategic focus on high-end technologies and applications with above average growth potential and long-term profitability.
3) Financial highlights showing AT&S' track record of revenue growth and margins above industry levels, as well as investments in new production capacity, particularly in Chongqing, China.
This document provides an overview of AT&S, a leading high-tech printed circuit board company. It discusses AT&S' strategy of focusing on high-end technologies for growth markets like mobile devices and advanced packaging. The company has a global footprint with production facilities in Europe and Asia. It aims to enter new high-end business segments and expand its share of high-end technology markets, which currently make up over 70% of its revenue. A key part of AT&S' strategy is a new plant in Chongqing, China that will produce IC substrates and substrate-like PCBs, addressing growing demand in applications like wearables and the Internet of Things.
AT&S presented financial results for Q1-3 2019/20. Revenue declined slightly to €753.2 million from challenging market conditions, though remained within target margins. EBITDA fell to €156.4 million due to higher R&D and preparation costs for future applications. The automotive segment performed steadily despite difficulties, while industrial was weaker. Ongoing investments in IC substrate capacity will support long-term growth opportunities in high-performance computing.
This document provides an overview of AT&S, a leading manufacturer of high-end printed circuit boards and IC substrates. It discusses AT&S' strategy, market position, technologies, and financials. Key points:
- AT&S focuses on high-end technologies for mobile devices, automotive, industrial, and medical applications.
- It has a global footprint with plants in Europe and Asia and is #1 in Europe and #3 worldwide for high-end PCB technology.
- The company is investing €480 million in a new plant in Chongqing, China to expand its IC substrate and substrate-like PCB production capabilities.
AT&S Investor and Analyst Presentation August 2017AT&S_IR
This document provides an overview of AT&S Austria Technologie & Systemtechnik Aktiengesellschaft, a leading manufacturer of printed circuit boards and IC substrates. It discusses the company's strategy, market position, financial performance, and expansion plans. Key points include:
- AT&S focuses on high-end technologies and applications with above average growth potential.
- It has the #1 market position in Europe and #3 globally for high-end PCB technology.
- In Q1 2017/18, revenue grew 9% to €814.9 million driven by contributions from new plants in China.
- Margin was impacted by start-up costs for new plants but improvements are expected as
AT&S Investor and Analyst Presentation September 2017AT&S_IR
AT&S is a leading provider of high-end printed circuit boards and IC substrates. It has 6 production plants across Europe and Asia. The company focuses on advanced interconnect solutions for applications in mobile devices, automotive, industrial, medical, and semiconductor industries. AT&S aims to strengthen its technology leadership position and achieve long-term profitable growth through operational excellence and a focus on high-end technologies and cash flow generation. Recent investments in new plants in China will help expand the company's product portfolio and customer base.
This document provides an overview of AT&S, a leading high-tech printed circuit board and IC substrate manufacturer. Some key points:
- AT&S has a global footprint with production facilities in Europe and Asia, and a focus on high-end applications.
- They serve growing end markets like mobile devices, automotive, industrial, and
AT&S is a leading high-tech printed circuit board company with a global footprint. It has production facilities in Europe and Asia focused on high mix/low volume and high volume/low mix respectively. In the first half of 2014/15, AT&S continued its sound top-line growth and above industry margins. It is entering a new high-end business segment of IC substrates with a new plant in Chongqing, China starting production in 2016. AT&S aims to leverage its technological leadership to capitalize on growing trends in areas like the Internet of Things.
AT&S Investor and Analyst Presentation September 2018AT&S_IR
- AT&S is a leading global provider of high-end printed circuit boards and IC substrates, serving growing end markets including mobile devices, automotive, industrial, and medical.
- In the first quarter of FY2018/19, AT&S achieved revenue growth of 11.2% to €222 million driven by additional contributions from its new Chongqing plant in China and higher demand for IC substrates.
- EBITDA margin improved significantly to 23.4% in Q1 FY2018/19 compared to 14.9% in the prior year period, benefiting from higher margins in Chongqing and one-time valuation effects.
- AT&S reported lower revenue and earnings for the first nine months of the 2019/20 financial year compared to the same period last year, due to market upheavals and the economic climate. Revenue was down 4.7% and EBITDA declined 29.1%.
- While some segments like IC substrates and medical saw increases, declines were seen in the mobile devices and industrial segments due to changes in product mix and price pressure.
- AT&S adjusted its outlook for the full financial year due to the effects of the coronavirus, and now expects revenue of €960 million and an EBITDA margin of 18-20%. Medium-term growth targets were maintained.
AT&S Investor and Analyst Presentation December 2018AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates.
The presentation summarizes that AT&S has outperformed the flat PCB market in recent years through scaling high-end technologies. It outlines AT&S' strategy to position itself as a leading provider of high-end interconnect solutions beyond PCBs. Key targets include medium-term revenue of €1.5 billion and an EBITDA margin of 20-25%.
The presentation reviews AT&S' financial results for the first half of the 2018/2019 fiscal year, noting a 6.4% increase in revenue and 32.5% increase in EBITDA compared to the
AT&S Investor and Analyst Presentation November 2017AT&S_IR
This document is an investor and analyst presentation by AT&S, a leading manufacturer of printed circuit boards and IC substrates.
The presentation provides an overview of AT&S, their strategic focus on high-end technologies, key financial figures, and an update on their new plant in Chongqing, China. In the first half of 2017/18, AT&S achieved revenue growth of 26% and EBITDA growth of 227.7% compared to the same period last year, driven by the ramp-up of their new mSAP technology and IC substrate plant in Chongqing. Their continued focus is on expanding their technology leadership position and driving long-term profitable growth.
AT&S Investor and Analyst Presentation February 2019AT&S_IR
The document is an investor and analyst presentation from AT&S, a leading provider of printed circuit boards and IC substrates.
In the first 3 sentences:
AT&S reported revenue growth of 3.2% to €790.1 million for the first nine months of the fiscal year, with strong demand for IC substrates and in medical applications. EBITDA increased 15.9% to €220.5 million due to efficiency improvements and the absence of start-up costs in Chongqing. The presentation discusses AT&S' financial results, markets, strategy to become a leading high-end interconnect solutions provider, and outlook.
AT&S Investor and Analyst Presentation January 2019AT&S_IR
This document provides an investor and analyst presentation for AT&S Austria Technologie & Systemtechnik Aktiengesellschaft. Some key points:
- AT&S is a leading global provider of printed circuit boards and IC substrates, serving growing end markets like mobile devices, automotive, industrial, and medical.
- In the first nine months of FY 2018/19, AT&S achieved revenue growth to €790.1 million and an increase in EBITDA to €220.5 million, demonstrating strong financial performance.
- The company is well positioned in high-end technologies through its focus on miniaturization and modularization. Its technology leadership and quality are keys to outperforming the broader
The document is a company presentation for AT&S, a leading manufacturer of printed circuit boards and IC substrates. It provides an overview of AT&S, including its strategy, competitive advantages, global footprint, key financials, and positioning in high-end interconnection technologies. AT&S focuses on advanced applications in mobile devices, automotive, industrial, and medical sectors. It aims to strengthen its technology leadership and achieve long-term profitable growth through operational excellence.
AT&S Investor and Analyst Presentation January 2019AT&S_IR
This document provides an investor and analyst presentation from AT&S, a leading provider of high-end printed circuit boards and IC substrates. The summary is:
1) AT&S has a global footprint with 6 plants in Europe and Asia and provides high-end interconnect solutions for mobile devices, automotive, industrial, and medical applications.
2) The presentation outlines AT&S' strategy to position itself as a leading provider of advanced interconnect solutions through a focus on high-end technologies and applications with growth targets of €1.5 billion in revenue and an EBITDA margin of 20-25%.
3) In the first half of the 2018/19 fiscal year, AT&S strengthened its technology
AT&S Investor and Analyst Präsentation September 2018AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates.
The presentation summarizes that AT&S has outperformed the flat PCB market in recent years through scaling high-end technologies. It outlines AT&S' strategy to position itself as a leading provider of high-end interconnect solutions beyond PCBs. Key targets include medium-term revenue of €1.5 billion and an EBITDA margin of 20-25%.
The presentation reviews AT&S' financial results for the first half of the 2018/2019 fiscal year, noting a 6.4% increase in revenue and 32.5% increase in EBITDA compared to the
AT&S Investor and Analyst Presentation December 2018AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates.
The presentation summarizes that AT&S has outperformed the flat PCB market in recent years through scaling high-end technologies. It outlines AT&S' strategy to position itself as a leading provider of high-end interconnect solutions beyond PCBs. Key targets include reaching €1.5 billion in revenue and maintaining an EBITDA margin of 20-25% in the medium term.
Financial highlights of the first half of the 2018/19 fiscal year show revenue growth of 6.4% and a significant 32.5% increase in EBITDA, driven by additional output from
1) The document is an annual report from AT&S, a leading manufacturer of printed circuit boards and IC substrates, reporting on the 2019/20 fiscal year.
2) It highlights key figures such as revenue declining 2.7% year-over-year to €1 billion, EBITDA falling 22.2% to €195 million, and profit for the period declining 75.9% to €21.5 million.
3) AT&S discusses major trends in the industry like 5G mobile networks, increasing data volumes, and growing markets for IC substrates that the company is positioned to capture through expansion.
The document provides an overview of AT&S, a leading manufacturer of printed circuit boards and IC substrates. Some key points:
- AT&S focuses on high-end technologies for applications in mobile devices, automotive, industrial, and medical sectors.
- They have production facilities in Europe and Asia, with the majority of revenue now coming from Asian production.
- Their strategic focus is on innovative interconnect solutions to support trends like miniaturization and the Internet of Things.
- A new plant in Chongqing, China will allow them to expand into new technologies like IC substrates and substrate-like PCBs.
AT&S Investor and Analyst Presentation October 2017AT&S_IR
AT&S is a leading manufacturer of printed circuit boards and IC substrates, focusing on high-end technologies. The company has 6 production plants across Europe and Asia. In Q1 2017/18, AT&S reported revenue growth of 14% year-over-year driven by contributions from its new Chongqing plant in China. EBITDA margins declined due to start-up costs associated with new plants but showed improvements over the previous quarter. AT&S remains focused on expanding its technology leadership position and driving long-term profitable growth through its strategic focus on innovative, high-end applications.
AT&S Investor and Analyst Presentation October 2016AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has six production plants in Europe and Asia. In the past fiscal year, AT&S achieved revenue of €762.9 million with continuous above-market growth and an EBITDA margin of 22%. The company is focusing on high-end technologies and applications with a strategic investment of €480 million in its new Chongqing, China plant to expand production of IC substrates and substrate-like PCBs. While revenue declined in the most recent quarter due to seasonal factors and price pressure, AT&S remains profitable with a adjusted EBITDA margin of over 20% excluding ramp-up costs in Chongqing.
AT&S Investor and Analyst Presentation March 2017 AT&S_IR
AT&S presented an investor and analyst presentation covering the company's strategy and financials. The presentation included:
1) An overview of AT&S' position as a leading manufacturer of high-end printed circuit boards and IC substrates for applications in mobile devices, automotive, industrial, medical, and semiconductors.
2) Details on AT&S' strategic focus on high-end technologies and applications with above average growth potential and long-term profitability.
3) Financial highlights showing AT&S' track record of revenue growth and margins above industry levels, as well as investments in new production capacity, particularly in Chongqing, China.
This document provides an overview of AT&S, a leading high-tech printed circuit board company. It discusses AT&S' strategy of focusing on high-end technologies for growth markets like mobile devices and advanced packaging. The company has a global footprint with production facilities in Europe and Asia. It aims to enter new high-end business segments and expand its share of high-end technology markets, which currently make up over 70% of its revenue. A key part of AT&S' strategy is a new plant in Chongqing, China that will produce IC substrates and substrate-like PCBs, addressing growing demand in applications like wearables and the Internet of Things.
AT&S presented financial results for Q1-3 2019/20. Revenue declined slightly to €753.2 million from challenging market conditions, though remained within target margins. EBITDA fell to €156.4 million due to higher R&D and preparation costs for future applications. The automotive segment performed steadily despite difficulties, while industrial was weaker. Ongoing investments in IC substrate capacity will support long-term growth opportunities in high-performance computing.
This document provides an overview of AT&S, a leading manufacturer of high-end printed circuit boards and IC substrates. It discusses AT&S' strategy, market position, technologies, and financials. Key points:
- AT&S focuses on high-end technologies for mobile devices, automotive, industrial, and medical applications.
- It has a global footprint with plants in Europe and Asia and is #1 in Europe and #3 worldwide for high-end PCB technology.
- The company is investing €480 million in a new plant in Chongqing, China to expand its IC substrate and substrate-like PCB production capabilities.
AT&S Investor and Analyst Presentation August 2017AT&S_IR
This document provides an overview of AT&S Austria Technologie & Systemtechnik Aktiengesellschaft, a leading manufacturer of printed circuit boards and IC substrates. It discusses the company's strategy, market position, financial performance, and expansion plans. Key points include:
- AT&S focuses on high-end technologies and applications with above average growth potential.
- It has the #1 market position in Europe and #3 globally for high-end PCB technology.
- In Q1 2017/18, revenue grew 9% to €814.9 million driven by contributions from new plants in China.
- Margin was impacted by start-up costs for new plants but improvements are expected as
AT&S Investor and Analyst Presentation September 2017AT&S_IR
AT&S is a leading provider of high-end printed circuit boards and IC substrates. It has 6 production plants across Europe and Asia. The company focuses on advanced interconnect solutions for applications in mobile devices, automotive, industrial, medical, and semiconductor industries. AT&S aims to strengthen its technology leadership position and achieve long-term profitable growth through operational excellence and a focus on high-end technologies and cash flow generation. Recent investments in new plants in China will help expand the company's product portfolio and customer base.
This document provides an overview of AT&S, a leading high-tech printed circuit board and IC substrate manufacturer. Some key points:
- AT&S has a global footprint with production facilities in Europe and Asia, and a focus on high-end applications.
- They serve growing end markets like mobile devices, automotive, industrial, and
AT&S is a leading high-tech printed circuit board company with a global footprint. It has production facilities in Europe and Asia focused on high mix/low volume and high volume/low mix respectively. In the first half of 2014/15, AT&S continued its sound top-line growth and above industry margins. It is entering a new high-end business segment of IC substrates with a new plant in Chongqing, China starting production in 2016. AT&S aims to leverage its technological leadership to capitalize on growing trends in areas like the Internet of Things.
AT&S Investor and Analyst Presentation September 2018AT&S_IR
- AT&S is a leading global provider of high-end printed circuit boards and IC substrates, serving growing end markets including mobile devices, automotive, industrial, and medical.
- In the first quarter of FY2018/19, AT&S achieved revenue growth of 11.2% to €222 million driven by additional contributions from its new Chongqing plant in China and higher demand for IC substrates.
- EBITDA margin improved significantly to 23.4% in Q1 FY2018/19 compared to 14.9% in the prior year period, benefiting from higher margins in Chongqing and one-time valuation effects.
- AT&S reported lower revenue and earnings for the first nine months of the 2019/20 financial year compared to the same period last year, due to market upheavals and the economic climate. Revenue was down 4.7% and EBITDA declined 29.1%.
- While some segments like IC substrates and medical saw increases, declines were seen in the mobile devices and industrial segments due to changes in product mix and price pressure.
- AT&S adjusted its outlook for the full financial year due to the effects of the coronavirus, and now expects revenue of €960 million and an EBITDA margin of 18-20%. Medium-term growth targets were maintained.
AT&S Investor and Analyst Presentation December 2018AT&S_IR
This document provides an investor and analyst presentation for AT&S, a leading provider of printed circuit boards and IC substrates.
The presentation summarizes that AT&S has outperformed the flat PCB market in recent years through scaling high-end technologies. It outlines AT&S' strategy to position itself as a leading provider of high-end interconnect solutions beyond PCBs. Key targets include medium-term revenue of €1.5 billion and an EBITDA margin of 20-25%.
The presentation reviews AT&S' financial results for the first half of the 2018/2019 fiscal year, noting a 6.4% increase in revenue and 32.5% increase in EBITDA compared to the
AT&S Investor and Analyst Presentation November 2017AT&S_IR
This document is an investor and analyst presentation by AT&S, a leading manufacturer of printed circuit boards and IC substrates.
The presentation provides an overview of AT&S, their strategic focus on high-end technologies, key financial figures, and an update on their new plant in Chongqing, China. In the first half of 2017/18, AT&S achieved revenue growth of 26% and EBITDA growth of 227.7% compared to the same period last year, driven by the ramp-up of their new mSAP technology and IC substrate plant in Chongqing. Their continued focus is on expanding their technology leadership position and driving long-term profitable growth.
AT&S Investor and Analyst Presentation September 2016AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has a strong focus on advanced interconnect solutions for applications in mobile devices, automotive, industrial, and medical sectors. AT&S aims to strengthen its technology leadership position and achieve long-term profitable growth and high profitability. Key strategies include focusing on high-end technologies and applications with above average growth potential.
AT&S Investor and Analyst Presentation May 2017AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. The document provides an overview of AT&S, including its strategy, technologies, market positioning, and financial performance. It focuses on AT&S strengthening its leadership in high-end interconnect solutions through innovation, a strategic focus on technologies with above-average growth, and operational excellence.
AT&S Investor and Analyst Presentation January 2017AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has 6 production plants in Europe and Asia. In the first half of 2016/17, AT&S achieved revenue of €737 million, stable compared to the previous year. EBITDA was impacted by ramping up new plants in China but was 24% when adjusted for these effects. AT&S is investing €480 million in its new Chongqing site in China to expand production capacity for IC substrates and substrate-like PCBs, with the goal of strengthening its technology leadership and achieving long-term profitable growth.
AT&S Investor and Analyst Presentation November 2016AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has 6 production plants in Europe and Asia. In the first half of 2016/17, AT&S achieved stable revenue but lower profitability due to ramping up new production lines in China. While revenue was balanced by the first contributions from China, earnings before interest, taxes, depreciation, and amortization (EBITDA) was impacted by start-up costs. Excluding these costs, the adjusted EBITDA margin remained nearly as high as the previous year. The company continues to focus on high-end technologies and applications to strengthen its technology leadership.
AT&S Investor and Analyst Presentation December 2016AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has 6 production plants across Europe and Asia. The company focuses on advanced interconnect solutions for applications in mobile devices, automotive, industrial, and medical sectors. AT&S aims to strengthen its technology leadership position and achieve long-term profitable growth. Its strategy is focused on high-end technologies, highest customer service, operational excellence, and cash flow generation. The company has outperformed the broader PCB market in recent years and intends to continue doing so in the future.
AT&S Investor and Analyst Presentation April 2017AT&S_IR
The document provides an overview of AT&S, a leading manufacturer of printed circuit boards and IC substrates. It discusses AT&S' strategy, market positioning, technologies, growth projects, and key financial figures. Specifically:
- AT&S focuses on high-end technologies for applications in mobile devices, automotive, industrial, medical, and semiconductors.
- It aims to strengthen its technology leadership, achieve long-term profitable growth, and generate shareholder value.
- Major growth projects include new IC substrate and substrate-like PCB production lines in Chongqing, China.
- Financially, AT&S has achieved sound revenue growth and margins above industry averages,
AT&S Investor and Analyst Presentation February 2017AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. The company has 6 production plants in Europe and Asia. In the past fiscal year, AT&S generated €762.9 million in revenue with 5.2% organic growth. The company is strategically focused on high-end technologies and applications with above average growth potential. AT&S aims to strengthen its technology leadership position and achieve long-term profitable growth and shareholder value.
AT&S Investor and Analyst Presentation August 2016AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. It has 9 production facilities across Europe and Asia. In the first quarter of 2016/17, AT&S' revenue declined due to normal seasonal effects and price pressures while EBITDA was impacted by ramping up new production lines in China. However, excluding start-up costs, margins were near previous levels. The company continues to focus on high-end technologies and applications to drive above-market growth long-term.
AT&S Investor and Analyst Presentation June 2017AT&S_IR
AT&S is a leading manufacturer of printed circuit boards and IC substrates headquartered in Austria. The company focuses on high-end technologies and applications with above average growth potential. It has production facilities across Europe and Asia to be close to customers and ensure cost efficiency. AT&S aims to strengthen its technology leadership position and generate long-term profitable growth and shareholder value through operational excellence and a strategic focus on innovative interconnect solutions.
AT&S Investor and Analyst Presentation July 2017AT&S_IR
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. The company has 6 production plants across Europe and Asia. AT&S focuses on advanced interconnect solutions for applications in mobile devices, automotive, industrial, medical, and semiconductor industries. In the financial year 2016/17, AT&S generated €814.9 million in revenue and employed 9,526 people worldwide. The company aims to strengthen its technology leadership position and achieve long-term profitable growth through a focus on high-end technologies and applications with above average growth potential.
AT&S is an Austrian technology group specialized in manufacturing high-end printed circuit boards and IC substrates. It has 6 manufacturing sites globally and supplies "blue chip" customers. AT&S is entering the growing IC substrate market with a new plant in Chongqing, China starting production in 2016. Key trends in electronics like miniaturization, connectivity, and the internet of things are driving demand for AT&S' complex, high-quality printed circuit board and substrate solutions. AT&S aims to strengthen its technology leadership position and enter attractive new markets.
AT&S Investor Relations Presentation September 2015AT&S_IR
This document provides an overview of AT&S, a leading high-tech printed circuit board (PCB) company. Some key points:
- AT&S has a global footprint with production facilities in Europe and Asia to ensure cost efficiency. Their focus is on high-end technologies like HDI PCBs and upcoming IC substrates.
- They have a balanced portfolio of customers in industries like mobile devices, automotive, industrial, and medical.
- AT&S is investing €480 million to expand into IC substrates with a new plant in Chongqing, China starting production in 2016.
- Financially, AT&S has shown consistent revenue growth, above industry EBITDA margins of
Similar to AT&S Investor and Analyst Presentation May 2018 (14)
- Revenue for AT&S was stable at €222.7 million for the quarter, though earnings declined as expected due to market factors and investments in strategic expansion. EBITDA was €34.9 million, down 32.9%.
- Demand was weaker in the Mobile Devices, Automotive and Industrial segments, leading to underutilization of production capacity. The IC Substrates and Medical & Healthcare segments saw sales increases.
- AT&S initiated an investment project of up to €1 billion to significantly increase IC substrate capacity, with production starting in 2021. This is expected to double revenue to €2 billion in the next 5 years and improve margins long-term.
This document contains the consolidated financial statements of AT&S Austria Technologie & Systemtechnik Aktiengesellschaft (AT&S) for the fiscal year ending March 31, 2019. It includes the consolidated statement of profit or loss, consolidated statement of financial position, notes to the consolidated financial statements, and independent auditor's reports on the consolidated and standalone financial statements. AT&S manufactures printed circuit boards and provides related services for industries including mobile devices, automotive, industrial, medical, and others.
AT&S is a leading manufacturer of high-end printed circuit boards and IC substrates. In the past fiscal year, AT&S achieved over €1 billion in revenue with approximately 9,800 employees worldwide. The company focuses on providing solutions for mobile devices, automotive, industrial, medical and other applications. Looking ahead, AT&S expects growth to continue driven by digital megatrends and increasing demand for its solutions to support areas like mobility, autonomous driving, industrial automation and more.
- Revenue for AT&S grew slightly to €790.1 million in the first three quarters of 2018/19, while EBITDA increased significantly by 15.9% to €220.5 million.
- Improved profitability was driven by efficiency gains, the absence of startup costs, and a better product mix, despite weaker demand in mobile devices and automotive.
- Earnings per share jumped 83.2% to €2.21, reflecting higher profits and stable number of shares outstanding.
- AT&S, a manufacturer of high-end printed circuit boards and IC substrates, increased revenue and profits in the first half of the 2018/19 fiscal year compared to the same period last year. Revenue grew 6.4% to €516.9 million driven by additional capacity from new Chinese plants and strong demand for IC substrates.
- EBITDA improved 32.5% to €138.3 million due to the positive contributions from the Chinese plants, and the EBITDA margin increased to 26.8%. Net profit more than tripled to €55.4 million.
- The company upgraded its full-year guidance, now expecting 6-8% revenue growth and an EBITDA margin of
The document is the consolidated financial statements of AT & S Austria Technologie & Systemtechnik Aktiengesellschaft as of March 31, 2018. It includes the consolidated statement of profit or loss, consolidated statement of financial position, notes on accounting policies, and other financial details. The consolidated financial statements were prepared in accordance with International Financial Reporting Standards and interpretations as adopted by the European Union.
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
40. Investor and Analyst Presentation 39
Disclaimer
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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
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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
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or events may vary significantly from the statements contained explicitly or implicitly herein.
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