- 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.
- 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.
- 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.
Market Research Report : Mobile Accessories Market in India 2013 Netscribes, Inc.
For the complete report, get in touch with us at : info@netscribes.com
The new report, ‘Mobile Accessories Market in India’, states that India holds immense opportunities for mobile accessory products due to enormous number of mobile device users and rapid growth in adoption of smartphones and tablets. Continual decline of prices of mobile devices is primarily aiding the growth in smartphone and tablet market penetration. Mobile accessories complement the mobile devices or enhance their usage and features. With the elevating popularity of smartphones and other mobile devices, there is significant demand for mobile accessories from consumers across India.
Rise in disposable income has revolutionized consumers’ buying and spending trend, especially in the urban areas. Mobile device adoption amongst youth population in the country and their spending pattern provide strong stimulus for growth in adoption. Online retailing plays a big part in this growth as well. It offers the convenience of cash-on-delivery payment option and lower price offers for various products as compared to physical stores.
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
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.
There are three main channels for auto aftermarket products and services to reach consumers in China: 1) Authorized 4S shops which occupy over 50% of the market, 2) Franchise and chain store channels which have lower capital requirements than 4S shops, and 3) Independent repair shops. The operating model analysis shows China domestic auto parts suppliers focus on low-cost production while foreign suppliers manufacture high-tech products. The industry/market model provides an overview of the growing Chinese aftermarket, trends in parts quality, distribution types, and consumer preferences.
The document provides an overview and initiation of coverage on Interpump Group S.p.A. (IP), a leading manufacturer of high-pressure pumps and components. Key points include:
- IP is the world leader in high-pressure plunger pumps and is expanding into new markets like food and pharmaceuticals through acquisitions.
- The company enjoys short-term growth due to an industrial market recovery and expanding end markets in food and pharmaceuticals in countries like India and China.
- IP has the ability to maintain margins by passing on increased costs to customers. Margins are higher in its waterjet division where it sells premium products.
- However, growth potential is limited due to operating in
AT&S is a leading high-tech printed circuit board and IC substrate company. It has a global footprint with production facilities in Europe and Asia. AT&S is expanding into new technologies like substrate-like PCBs and IC substrates to position itself for future growth opportunities in advanced applications and markets driven by trends like the Internet of Things. A major investment project underway is a new plant in Chongqing, China dedicated to IC substrates and substrate-like PCBs, which is expected to begin production in 2016. This will expand AT&S' technology portfolio and capabilities in high-end applications.
- 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.
- 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.
Market Research Report : Mobile Accessories Market in India 2013 Netscribes, Inc.
For the complete report, get in touch with us at : info@netscribes.com
The new report, ‘Mobile Accessories Market in India’, states that India holds immense opportunities for mobile accessory products due to enormous number of mobile device users and rapid growth in adoption of smartphones and tablets. Continual decline of prices of mobile devices is primarily aiding the growth in smartphone and tablet market penetration. Mobile accessories complement the mobile devices or enhance their usage and features. With the elevating popularity of smartphones and other mobile devices, there is significant demand for mobile accessories from consumers across India.
Rise in disposable income has revolutionized consumers’ buying and spending trend, especially in the urban areas. Mobile device adoption amongst youth population in the country and their spending pattern provide strong stimulus for growth in adoption. Online retailing plays a big part in this growth as well. It offers the convenience of cash-on-delivery payment option and lower price offers for various products as compared to physical stores.
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
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.
There are three main channels for auto aftermarket products and services to reach consumers in China: 1) Authorized 4S shops which occupy over 50% of the market, 2) Franchise and chain store channels which have lower capital requirements than 4S shops, and 3) Independent repair shops. The operating model analysis shows China domestic auto parts suppliers focus on low-cost production while foreign suppliers manufacture high-tech products. The industry/market model provides an overview of the growing Chinese aftermarket, trends in parts quality, distribution types, and consumer preferences.
The document provides an overview and initiation of coverage on Interpump Group S.p.A. (IP), a leading manufacturer of high-pressure pumps and components. Key points include:
- IP is the world leader in high-pressure plunger pumps and is expanding into new markets like food and pharmaceuticals through acquisitions.
- The company enjoys short-term growth due to an industrial market recovery and expanding end markets in food and pharmaceuticals in countries like India and China.
- IP has the ability to maintain margins by passing on increased costs to customers. Margins are higher in its waterjet division where it sells premium products.
- However, growth potential is limited due to operating in
AT&S is a leading high-tech printed circuit board and IC substrate company. It has a global footprint with production facilities in Europe and Asia. AT&S is expanding into new technologies like substrate-like PCBs and IC substrates to position itself for future growth opportunities in advanced applications and markets driven by trends like the Internet of Things. A major investment project underway is a new plant in Chongqing, China dedicated to IC substrates and substrate-like PCBs, which is expected to begin production in 2016. This will expand AT&S' technology portfolio and capabilities in high-end applications.
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.
Etude PwC marché automobile mondial (2013)PwC France
http://pwc.to/1cligbS
D’après les dernières prévisions de PwC Autofacts, institut d’analyse du marché automobile de PwC, l’assemblage de véhicules légers devrait atteindre au niveau mondial 81,8 millions d'unités en 2013, soit un gain de 3,3% sur un an.
The document summarizes ArcelorMittal's 1H 2020 financial results and strategic update. Key points include:
- Safety of employees remained the top priority during COVID-19 and the lost time injury frequency rate improved.
- Steel shipments declined 19.4% in 1H 2020 due to the pandemic but costs were reduced swiftly. Mining operations were more resilient.
- Signs of demand recovery are emerging as lockdowns ease, but the outlook remains cautious.
- The company has a strong balance sheet with net debt of $7.8 billion, the lowest level post-merger. Further debt reduction is a priority.
- ArcelorMittal is focused on creating sustainable value and
Automotive Repair and Maintenance Services Market to Reach US$ 750 Bn by 2026Ankush Nikam
Future Market Insights has announced the addition of the “Automotive Repair and Maintenance Services Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026” "report to their offering.
Automotive industry - Covid19 : How to face the crisis and build the new normalFabrizio Arena
Automotive industry is in the middle of a perfect storm.
We analyzed the current situation and provided useful insight on future scenario, in order to better understand how to face the crisis and build the “New normal”.
Feel free to contact us for any further info.
EU Competitiveness Bench marking Report 2015Yaw Appiah
The document is a benchmarking report from the European Round Table of Industrialists (ERT) that analyzes Europe's competitiveness in areas like economic growth, R&D investment, patent filings, industry production, access to capital, energy prices, and carbon pricing systems. It finds that while Europe has strengths, it faces challenges like slower growth compared to countries like China and India, lower R&D spending compared to competitors, declining shares of global patent filings, higher energy and labor costs, and uneven competitiveness across EU member states. The report calls for European leaders to take steps to ensure Europe remains an attractive business location.
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.
Arthur D. Little - Global Automotive Market Report September 2021Fabrizio Arena
Please take a look at our Automotive Report – September 2021 with Global market overview and main registrations results in Europe and Italy
Please note that this issue also includes a Focus on Supply shortage impact on Automotive Market
Arthur D. Little Automotive Report April 2021Fabrizio Arena
Please take a look at our Automotive Report – April 2021 with main registrations results in Europe and Italy and, a special focus on Covid-19 impact on Residual Value in EU & Italy
Starting from March 2020 sales have been heavily hit by Covid-19 outbreak so, to make figures comparable, this edition of Automotive Report compares 2021 and 2019 data
Metso Interim Review presentation January-September 2013Metso Group
The document provides quarterly financial results for Metso Corporation. Key highlights include orders declining 17% year-over-year due to soft demand for large equipment and projects. EBITA before non-recurring items was EUR 143 million, down from EUR 171 million last year. Profitability improved in Mining and Construction and Automation but was lower in Pulp, Paper and Power. Non-recurring costs related to restructuring and the planned demerger impacted results. The outlook cites a challenging market environment and currency impacts on orders and sales.
- 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 discusses trends in the Indian auto industry. It notes that commercial vehicle segments like light commercial vehicles saw positive growth, while medium and heavy commercial vehicles declined due to high bases of growth in the previous year. Passenger cars and utility vehicles grew by 12% and 11% respectively due to new model launches. Two-wheeler sales declined 4.9% due to economic slowdown and high interest rates. The auto components industry saw production growth of 12% but margins are expected to remain under pressure due to slowing auto demand. The budget provided some relief through reduced excise duties on certain vehicles.
The document discusses trends in the Indian auto industry. It notes that commercial vehicle segments like light commercial vehicles saw positive growth, while medium and heavy commercial vehicles declined due to high bases of growth in the previous year. Passenger car sales grew 12% due to new models. Utility vehicles also saw strong growth. However, two-wheeler sales declined 4.9% due to economic slowdown and financing issues. The auto components industry saw 12% production growth but margins are expected to remain under pressure due to slowing auto demand. The budget provided some stimulus with reduced excise duties on certain vehicles.
The document discusses trends in the Indian auto industry. It notes that commercial vehicle segments like light commercial vehicles saw positive growth, while medium and heavy commercial vehicles declined due to high bases of growth in the previous year. Passenger car sales grew 12% due to new models. Utility vehicles also saw strong growth. However, two-wheeler sales declined 4.9% due to economic slowdown and financing issues. The auto components industry saw 12% production growth but margins are expected to remain under pressure due to slowing auto demand. The budget provided some stimulus with reduced excise duties on certain vehicles.
Gartner - transform business transform indiaFabio Aguiar
According to the document, up to 80% of growth in the global sourcing market by 2020 will come from currently untapped markets rather than core markets. Business services will account for 60% of the total addressable market opportunity in 2020. The document also notes that new customer segments like SMBs and new verticals in developing countries will drive significant growth and make up a large portion of the total addressable market.
The annual report summarizes the company's financial performance in 2014/15. Some key points:
- Revenue grew 13.1% to €667 million, with strong growth in mobile devices and automotive electronics.
- Earnings also increased substantially, with EBITDA up 31.8% and profit for the period rising 81.5% to €69.3 million.
- The balance sheet remains solid, with an equity ratio of 49.5% and reduced net gearing of 21.6%, allowing continued investment in expanding production capacity.
Portugal requested financial assistance from the EU and IMF in 2011 due to macroeconomic imbalances including low GDP, high household and public debt, and a deteriorating banking sector. The assistance program aimed to restore confidence, consolidate public finances, rebalance the economy, and implement structural reforms to boost growth. Key achievements included reducing borrowing costs, improving competitiveness and the external balance, and undertaking reforms in the labor market, education, housing, and regulated professions. However, challenges remain including weak GDP growth, high unemployment and debt levels, and the need to maintain structural reform momentum.
The global economy has shifted towards Asia in recent decades. The UK runs large trade deficits in goods but surpluses in services. Germany and China are two of the UK's main trading partners for imports, while exports mainly go to other European nations. A persistent current account deficit can cause problems like lower growth and job losses if it indicates weak competitiveness. Policy options to address deficits include supply-side reforms to improve productivity and demand management policies to reduce spending on imports.
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.
Arthur D. Little - Global Automotive Market Report June 2021Fabrizio Arena
Please take a look at our Automotive Report – June 2021 with Global market overview and main registrations results in Europe and Italy
Please note that this issue also includes a Focus on EV Chinese offensive in the European market
- Revenue increased 11.2% to €222.1 million due to additional capacities in Chongqing and strong demand for IC substrates.
- EBITDA rose 75.4% to €52 million thanks to higher earnings from Chongqing and positive valuation effects. The EBITDA margin increased to 23.4%.
- Profit for the period improved to €13.5 million compared to a loss of €11.2 million in the prior year, as investments in recent years increased productivity.
Half year financial report at June 30 2019Gruppo TIM
- TIM's H1 2019 results were in line with its 3-year plan objectives, with operating free cash flow of €1.5 billion, up €604 million YoY. Net financial debt fell €539 million to €24.7 billion.
- Key agreements were signed with Vodafone to share 5G networks and infrastructure, expected to generate over €800 million in synergies each, and with Sky to distribute sports content.
- Group revenues were €9 billion, down 3.4% YoY due to lower international voice traffic. Reported EBITDA rose 8.9% to €4.1 billion from cost savings and tax benefits in Brazil. Reported EBITDA -
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.
Etude PwC marché automobile mondial (2013)PwC France
http://pwc.to/1cligbS
D’après les dernières prévisions de PwC Autofacts, institut d’analyse du marché automobile de PwC, l’assemblage de véhicules légers devrait atteindre au niveau mondial 81,8 millions d'unités en 2013, soit un gain de 3,3% sur un an.
The document summarizes ArcelorMittal's 1H 2020 financial results and strategic update. Key points include:
- Safety of employees remained the top priority during COVID-19 and the lost time injury frequency rate improved.
- Steel shipments declined 19.4% in 1H 2020 due to the pandemic but costs were reduced swiftly. Mining operations were more resilient.
- Signs of demand recovery are emerging as lockdowns ease, but the outlook remains cautious.
- The company has a strong balance sheet with net debt of $7.8 billion, the lowest level post-merger. Further debt reduction is a priority.
- ArcelorMittal is focused on creating sustainable value and
Automotive Repair and Maintenance Services Market to Reach US$ 750 Bn by 2026Ankush Nikam
Future Market Insights has announced the addition of the “Automotive Repair and Maintenance Services Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026” "report to their offering.
Automotive industry - Covid19 : How to face the crisis and build the new normalFabrizio Arena
Automotive industry is in the middle of a perfect storm.
We analyzed the current situation and provided useful insight on future scenario, in order to better understand how to face the crisis and build the “New normal”.
Feel free to contact us for any further info.
EU Competitiveness Bench marking Report 2015Yaw Appiah
The document is a benchmarking report from the European Round Table of Industrialists (ERT) that analyzes Europe's competitiveness in areas like economic growth, R&D investment, patent filings, industry production, access to capital, energy prices, and carbon pricing systems. It finds that while Europe has strengths, it faces challenges like slower growth compared to countries like China and India, lower R&D spending compared to competitors, declining shares of global patent filings, higher energy and labor costs, and uneven competitiveness across EU member states. The report calls for European leaders to take steps to ensure Europe remains an attractive business location.
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.
Arthur D. Little - Global Automotive Market Report September 2021Fabrizio Arena
Please take a look at our Automotive Report – September 2021 with Global market overview and main registrations results in Europe and Italy
Please note that this issue also includes a Focus on Supply shortage impact on Automotive Market
Arthur D. Little Automotive Report April 2021Fabrizio Arena
Please take a look at our Automotive Report – April 2021 with main registrations results in Europe and Italy and, a special focus on Covid-19 impact on Residual Value in EU & Italy
Starting from March 2020 sales have been heavily hit by Covid-19 outbreak so, to make figures comparable, this edition of Automotive Report compares 2021 and 2019 data
Metso Interim Review presentation January-September 2013Metso Group
The document provides quarterly financial results for Metso Corporation. Key highlights include orders declining 17% year-over-year due to soft demand for large equipment and projects. EBITA before non-recurring items was EUR 143 million, down from EUR 171 million last year. Profitability improved in Mining and Construction and Automation but was lower in Pulp, Paper and Power. Non-recurring costs related to restructuring and the planned demerger impacted results. The outlook cites a challenging market environment and currency impacts on orders and sales.
- 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 discusses trends in the Indian auto industry. It notes that commercial vehicle segments like light commercial vehicles saw positive growth, while medium and heavy commercial vehicles declined due to high bases of growth in the previous year. Passenger cars and utility vehicles grew by 12% and 11% respectively due to new model launches. Two-wheeler sales declined 4.9% due to economic slowdown and high interest rates. The auto components industry saw production growth of 12% but margins are expected to remain under pressure due to slowing auto demand. The budget provided some relief through reduced excise duties on certain vehicles.
The document discusses trends in the Indian auto industry. It notes that commercial vehicle segments like light commercial vehicles saw positive growth, while medium and heavy commercial vehicles declined due to high bases of growth in the previous year. Passenger car sales grew 12% due to new models. Utility vehicles also saw strong growth. However, two-wheeler sales declined 4.9% due to economic slowdown and financing issues. The auto components industry saw 12% production growth but margins are expected to remain under pressure due to slowing auto demand. The budget provided some stimulus with reduced excise duties on certain vehicles.
The document discusses trends in the Indian auto industry. It notes that commercial vehicle segments like light commercial vehicles saw positive growth, while medium and heavy commercial vehicles declined due to high bases of growth in the previous year. Passenger car sales grew 12% due to new models. Utility vehicles also saw strong growth. However, two-wheeler sales declined 4.9% due to economic slowdown and financing issues. The auto components industry saw 12% production growth but margins are expected to remain under pressure due to slowing auto demand. The budget provided some stimulus with reduced excise duties on certain vehicles.
Gartner - transform business transform indiaFabio Aguiar
According to the document, up to 80% of growth in the global sourcing market by 2020 will come from currently untapped markets rather than core markets. Business services will account for 60% of the total addressable market opportunity in 2020. The document also notes that new customer segments like SMBs and new verticals in developing countries will drive significant growth and make up a large portion of the total addressable market.
The annual report summarizes the company's financial performance in 2014/15. Some key points:
- Revenue grew 13.1% to €667 million, with strong growth in mobile devices and automotive electronics.
- Earnings also increased substantially, with EBITDA up 31.8% and profit for the period rising 81.5% to €69.3 million.
- The balance sheet remains solid, with an equity ratio of 49.5% and reduced net gearing of 21.6%, allowing continued investment in expanding production capacity.
Portugal requested financial assistance from the EU and IMF in 2011 due to macroeconomic imbalances including low GDP, high household and public debt, and a deteriorating banking sector. The assistance program aimed to restore confidence, consolidate public finances, rebalance the economy, and implement structural reforms to boost growth. Key achievements included reducing borrowing costs, improving competitiveness and the external balance, and undertaking reforms in the labor market, education, housing, and regulated professions. However, challenges remain including weak GDP growth, high unemployment and debt levels, and the need to maintain structural reform momentum.
The global economy has shifted towards Asia in recent decades. The UK runs large trade deficits in goods but surpluses in services. Germany and China are two of the UK's main trading partners for imports, while exports mainly go to other European nations. A persistent current account deficit can cause problems like lower growth and job losses if it indicates weak competitiveness. Policy options to address deficits include supply-side reforms to improve productivity and demand management policies to reduce spending on imports.
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.
Arthur D. Little - Global Automotive Market Report June 2021Fabrizio Arena
Please take a look at our Automotive Report – June 2021 with Global market overview and main registrations results in Europe and Italy
Please note that this issue also includes a Focus on EV Chinese offensive in the European market
- Revenue increased 11.2% to €222.1 million due to additional capacities in Chongqing and strong demand for IC substrates.
- EBITDA rose 75.4% to €52 million thanks to higher earnings from Chongqing and positive valuation effects. The EBITDA margin increased to 23.4%.
- Profit for the period improved to €13.5 million compared to a loss of €11.2 million in the prior year, as investments in recent years increased productivity.
Half year financial report at June 30 2019Gruppo TIM
- TIM's H1 2019 results were in line with its 3-year plan objectives, with operating free cash flow of €1.5 billion, up €604 million YoY. Net financial debt fell €539 million to €24.7 billion.
- Key agreements were signed with Vodafone to share 5G networks and infrastructure, expected to generate over €800 million in synergies each, and with Sky to distribute sports content.
- Group revenues were €9 billion, down 3.4% YoY due to lower international voice traffic. Reported EBITDA rose 8.9% to €4.1 billion from cost savings and tax benefits in Brazil. Reported EBITDA -
TIM - Financial information at March 31, 2019Gruppo TIM
- TIM Group reported financial results for Q1 2019, showing evidence that new management's focus on cost reduction and process redesign is improving cash generation. Net debt decreased by €190M and operating free cash flow increased by €541M compared to Q1 2018.
- Group revenues were €4.5B, down 2.9% YoY. Service revenues were €4.1B, down 3.0% YoY mainly due to Sparkle closing low-margin contracts. Excluding this impact, service revenues declined 2.0% at Group level and 2.7% for the Domestic business unit.
- Organic EBITDA was €1.8B, down 2.1
- ACCIONA reported revenues of €1,708 million in Q1 2019, an increase of 1.7% from Q1 2018. EBITDA was €292 million, down 8.8% due to changes in the business perimeter and the implementation of IFRS16.
- Energy revenues grew 5% while Infrastructure revenues rose 4.2%. Other Activities revenues fell 29.8% mainly due to the sale of Trasmediterránea.
- Net attributable profit increased 19.2% to €73 million due to lower depreciation, financial expenses, and improved contributions from associates.
- Net debt was €4,733 million as of March 31, 2019, up from
Metso Q3 2019 Interim Review presentationMetso Group
Metso reported its Q3/2019 results. Orders received were up 1% to EUR 894 million and sales were up 19% to EUR 933 million. Adjusted EBITA was EUR 131 million, with a margin of 14.0%. Minerals orders were down 2% but sales were up 19%. Flow Control orders were up 15% and sales up 16%. The transaction to create Metso Outotec is proceeding according to plan, with targeted closing in Q2/2020. Market activity is expected to remain at the current level for both segments in the near future.
This document provides details of Nokia's Q3 2018 conference call, including an outline, disclaimer on forward-looking statements, and financial results. Key highlights include Nokia reporting 1% year-over-year decline in net sales for Q3 2018 but growth of 1% excluding catch-up licensing sales from Q3 2017. Non-IFRS diluted EPS was €0.06 compared to €0.09 year-over-year, driven by lower gross profit across Networks segments. Nokia also provided an outlook for 2018-2020 targets and details on its cost savings program.
- Metso's orders received and sales increased in Q1 2019 compared to Q1 2018, up 18% and 17% respectively, driven by growth in both business segments.
- Profitability also improved, with EBITA up 22% and earnings per share up 30% year-over-year.
- Market activity remained high in both segments and the outlook expects demand to continue at the current level for equipment and services.
This document brings together a set of latest data points and publicly available information relevant for Automotive. We are very excited to share this content and believe that readers will benefit immensely from this periodic publication immensely.
Bayer reported Q3 2018 results and confirmed full year guidance. Key highlights included:
- Q3 sales of €9.9 billion, up 2% year-over-year on a currency and portfolio adjusted basis.
- EBITDA of €2.2 billion, down 18% due to currency effects and higher costs of goods sold.
- Integration of Monsanto is proceeding as planned and synergies are being realized.
- Net debt was further reduced to €36.5 billion at the end of Q3.
This document brings together a set of latest data points and publicly available information relevant for Manufacturing Industry. We are very excited to share this content and believe that readers will benefit immensely from this periodic publication.immensely.
- Revenue for the first quarter of 2020 was €55.8 million, down 0.9% from the previous year due to rent losses from coronavirus closures in foreign centers starting in mid-March. EBIT was €48.3 million, down 2% year-over-year.
- EBT excluding measurement gains/losses was €40.8 million, down 3.7% from the previous year partly due to a one-time interest refund in 2019 that positively impacted the prior year results.
- FFO for the quarter was €38.6 million, down 1.3% from the previous year, as the same quarter in 2019 had included the one-time tax refund. The
Telecom Italia 1H 2013 Results - Franco BernabèGruppo TIM
Telecom Italia Group reported financial results for the first half of 2013. Revenues declined 2.7% to 13.8 billion euros due to decreases in the domestic market. EBITDA fell 6.8% to 5.4 billion euros, with declines in the domestic market partially offset by growth in Brazil. Net financial debt increased slightly to 28.8 billion euros. The company updated guidance and confirmed its debt reduction target while providing details on expected regulatory developments regarding its fixed network separation project.
- Revenues totaled EUR 287.2m in Q3 2020, down from EUR 312.5m in Q3 2019, with 41% of revenues from recurring aftermarket business.
- Gross profit was up to 39.2% in Q3 2020 based on good mix and delivery performance. EBIT margin was 15.4% in Q3 2020, up from 14.2% in Q3 2019.
- Free cash flow was solid at EUR 36.6m in Q3 2020, up from EUR 29.0m in Q3 2019. Orders in Q3 2020 were on par with Q3 2019 and the order book remained stable.
The document provides financial and operational information for AT&S for the first half of the 2014/15 fiscal year. Key points include:
- Revenue was stable at €302.1 million while EBITDA increased 10.5% to €72.3 million and profit for the period rose 29.5% to €28.4 million.
- The Mobile Devices & Substrates business unit achieved stable revenue while the Industrial & Automotive unit grew revenue by 8.8%.
- Construction of the new IC substrate plant in Chongqing is proceeding on schedule.
In the 1Q 2019 results document:
- ERG reported adjusted EBITDA of €164 million, up slightly from €162 million in 1Q 2018.
- Net debt increased to €1.514 billion from €1.343 billion at the end of 2018, due to investments and acquisitions totaling €233 million in the quarter.
- Guidance for 2019 was confirmed, with expected adjusted EBITDA of €495-515 million and net debt of €1.36-1.44 billion.
SES reported solid financial results for the first half of 2020. Revenue was EUR 947.5 million, down 1.5% year-over-year due to impacts from COVID-19. Adjusted EBITDA was EUR 582.0 million, down 2.3% year-over-year. The Networks business continued to show strong growth of 7.1% year-over-year. Outlook for the full year 2020 was updated to reflect expected impacts from COVID-19, with group revenue of EUR 1,860-1,900 million and adjusted EBITDA of EUR 1,120-1,160 million.
Similar to Interrim Report Q1 2019/20 von AT&S_IR (20)
- 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 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.
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 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.
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
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 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 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 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
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 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.
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2. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
2
— Revenue stable thanks to strong development in IC Substrates and Medical & Healthcare segments
— Strong saisonality in Mobile Devices causes market-related underutilization
— Weaker demand in Automotive and Industrial
— Management confirms outlook for revenue and EBITDA for the year
— Investment project of up to € 1 billion initiated and significantly increases medium-term guidance
KEY FIGURES
Unit Q1 2018/19 Q1 2019/20
Change
in %
Revenue € in millions 222.1 222.7 0.3 %
EBITDA € in millions 52.0 34.9 (32.9 %)
EBITDA margin % 23.4% 15.7% –
EBIT € in millions 18.3 (0.6) –
EBIT margin % 8.3% (0.3%) –
Profit/(loss) for the period € in millions 13.5 (6.2) –
ROCE % 5.1% (1.8%) –
Net CAPEX € in millions 17.1 49.7 >100%
Cash flow from operating activities € in millions 4.6 28.5 >100%
Operating free cash flow € in millions (12.5) (21.2) –
Earnings per share € 0.30 (0.20) –
Employees
1)
– 9,598 9,965 3.8 %
BALANCE SHEET DATA 31 Mar 2019 30 Jun 2019
Total assets € in millions 1,784.1 1,774.9 (0.5 %)
Total equity € in millions 803.5 759.3 (5.5 %)
Equity ratio % 45.0% 42.8% (5.0%)
Net debt € in millions 150.3 208.6 38.8 %
1) incl. contract staff, average
HIGHLIGHTS Q1 2019/20
3. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
3
BUSINESS DEVELOPMENTS AND SITUATION
In the first three months of the financial year 2019/20 the
business of AT&S recorded a stable development overall:
Revenue, at € 222.1 million was stable at the prior-year level,
with revenue from the Mobile Devices and Industrial segments
decreasing. The declines were largely offset by sales volume
increases in the IC Substrates and Medical & Healthcare
segments.
Earnings for the quarter declined as expected: EBITDA
decreased by € 17.1 million or -32.9% from € 52.0 million to
€ 34.9 million. The reasons for the current earnings figures can
be found both in the market and in the substantial future
investments in the strategic expansion of the business. With
respect to the market, mobile devices were faced with
increased seasonality in the past two quarters. In addition, the
Automotive and Industrial business slowed down reflecting the
general economic situation. Both aspects lead to
underutilisation of the production capacities and a lower
operating performance.
AT&S is increasing investments in research & development to
prepare for future technology generations and to pursue the
modularisation strategy. These expenses secure the company’s
sustainability and significantly expand the earnings potential in
the medium term.
The EBITDA margin was 15.7% down 7.7 percentage points on
the prior-year value of 23.4%. Due to the above-mentioned
effects, EBIT dropped by € 18.9 million from € 18.3 million to
€ -0.6 million. The EBIT margin amounted to -0.3% (previous
year: 8.3%).
Finance costs – net declined from € 1.7 million to € -1.7 million
primarily due to foreign currency differences resulting from the
measurement of liquid foreign currency funds and debts.
Net profit/loss for the period fell by € 19.7 million from
€ 13.5 million to € -6.2 million due to the lower operating
result.
BUSINESS DEVELOPMENT BY SEGMENTS
The AT&S Group breaks its operating activities down into three
segments: Mobile Devices & Substrates, Automotive,
Industrial, Medical, and Others. For further information on the
segments and segment reporting please refer to the Annual
Report 2018/19.
Mobile Devices & Substrates segment
Segment revenue rose by € 6.3 million or 3.9% from
€ 160.2 million to € 166.4 million, with the decline recorded for
mobile devices being offset by volume increases in the IC
substrate sector. EBITDA fell by € 15.5 million or -39.4% from
€ 39.3 million to € 23.8 million due to increased seasonality in
the Mobile Devices sector and the resulting capacity
underutilisation and lower operating performance. Overall, this
led to an EBITDA margin of 14.3%, which is below the prior-
year value of 24.5%. EBIT at € -5.5 million, was € 15.9 million
lower than in the previous year, at € 10.4 million. The resulting
EBIT margin amounts to -3.3% (previous year: 6.5%).
Automotive, Industrial, Medical segment
Segment revenue, at € 88.1 million was at the level of the
previous year. In particular, the Medical & Healthcare sector
recorded strong demand in the first three months. In the
Industrial sector demand declined in line with the market
environment.
Due to the market-related underutilisation the Automotive and
Industrial business the segment’s EBITDA amounted to
€ 10.9 million, down € 1.1 million on the prior-year value of
€ 12.0 million. Due to these effects, the EBITDA margin
decreased by 1.0 percentage points from 13.4% to 12.4%. EBIT
fell by € 2.3 million or -30.3% from € 7.5 million to € 5.3 million.
FINANCIAL POSITION
Total assets decreased by € 9.2million or -0.5% from
€ 1,784.1 million to € 1,774.9 million in the first three months
of the financial year.
Cash and cash equivalents amounted to € 286.1 million
(31 March 2019: € 326.8 million). In addition to cash and cash
ECONOMIC REPORT
4. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
4
equivalents, AT&S has financial assets of € 250.4 million and
unused credit lines of € 185.3 million to secure the financing of
the future investment programme and short-term repayments.
Equity decreased by € 44.2million or 5.5% from € 803.5 million
at the balance sheet date to € 759.3 million as a result of the
net loss for the period of € -6.2 million and negative exchange
rate effects of € -35.7 million resulting from the translation of
the net asset position of the subsidiaries. The equity ratio, at
42.8%, was 2.2 percentage points lower than at 31 March
2019; it remains at a high level. Net debt increased by
€ 58.3 million or 38.8% from € 150.3 million to € 208.6 million.
Cash flow from operating activities amounted to € 28.5 million
in the first three months of 2019/20 (previous year:
€ 4.6 million). Cash inflows were offset by cash outflows for net
investments of € 49.7 million (previous year: € 17.1 million),
resulting in free cash flow from operations of € -21.2 million
(previous year: € -12.5 million).
EVENTS AFTER CLOSING DATE
To strengthen the IC substrate business, the Group decided in
July to further expand capacity at the locations in Chongqing
and Leoben. The investment volume totals up to € 1 billion and
will be distributed over the next five years. The start of
production is scheduled for 2021. First revenues from these
additional capacities are expected for early 2022. The
investment focus is on Chongqing. This decision was triggered
by the significantly growing market demand for IC substrates
for the application in high-performance modules in the coming
years. This gives AT&S the opportunity to significantly
strengthen its position in the market for IC substrates. As a
result of expanding its business volume with these applications,
AT&S will be able to further balance out the entire product
portfolio and to reduce dependencies. This capacity expansion
also provides the basis for a further diversification of the
customer portfolio in the future. The investment project will be
implemented in close cooperation with a leading
semiconductor manufacturer. In addition to production, the
partnership also comprises the technology development of
future substrate architectures.
OUTLOOK
After the first quarter, the Management Board confirms the
earnings forecast for the full year although the market
environment is very challenging and visibility is still low. Based
on the current weakness in demand in the Mobile Devices,
Automotive and Industrial segments, revenue is expected to
remain at the level of the previous year, with an EBITDA margin
expected in the range of 20 to 25%.
A volume of € 80 to 100 million is planned for maintenance and
technology upgrades. Depending on the market development,
an additional € 100 million for capacity and technology
expansions may be incurred. For the capacity expansion in the
area of IC substrates, expenses for investments will be
increased from € 80 million to up to € 180 million.
Medium-term guidance
With the current investment decision, the Management Board
is increasing its medium-term guidance: As part of the strategy
“More than AT&S”, the Group expects revenue to double to
€ 2 billion in the next five years (previous revenue guidance:
€ 1.5 billion). This corresponds to a compound annual growth
rate (CAGR) of roughly 15%. Based on the stronger focus on
high-end applications, the historical trend of a continuous and
sustainable margin improvement can be continued, and an
EBITDA margin in the range of 25% to 30% can be achieved in
the medium term. The Group’s medium-term ROCE target is
more than 12%.
Leoben-Hinterberg, 02 August 2019
The Management Board
Andreas Gerstenmayer m.p
Monika Stoisser-Göhring m.p.
Heinz Moitzi m.p.
5. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
5
CONSOLIDATED STATEMENT
OF PROFIT OR LOSS
€ in thousands 1 Apr - 30 Jun 2019 1 Apr - 30 Jun 2018
Revenue 222,739 222,081
Cost of sales (209,121) (193,676)
Gross profit 13,618 28,405
Distribution costs (7,587) (7,727)
General and administrative costs (10,145) (8,023)
Other operating income 3,983 6,162
Other operating costs (431) (494)
Other operating result 3,552 5,668
Operating result (562) 18,323
Finance income 1,994 5,620
Finance costs (3,733) (3,917)
Finance costs – net (1,739) 1,703
Profit/(loss) before tax (2,301) 20,026
Income taxes (3,903) (6,477)
Profit/(loss) for the period (6,204) 13,549
Attributable to owners of hybrid capital, net of tax 1,554 2,072
Attributable to owners of the parent company (7,758) 11,477
Earnings per share attributable to equity holders of the parent company (in € per share):
– basic (0.20) 0.30
– diluted (0.20) 0.30
Weighted average number of shares outstanding
– basic (in thousands) 38,850 38,850
Weighted average number of shares outstanding
– diluted (in thousands) 38,850 38,850
CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
in Tsd. € 01.04.-30.06.2019 01.04.-30.06.2018
Konzernergebnis (6 204) 13 549
Zu reklassifizierende Ergebnisse:
Währungsumrechnungsdifferenzen (35 666) 8 769
(Verluste) aus der Bewertung von Sicherungsinstrumenten aus
der Absicherung von Zahlungsströmen, nach Steuern
(2 277) (498)
Sonstiges Ergebnis (37 943) 8 271
Konzerngesamtergebnis (44 147) 21 820
davon vorgesehener Anteil Hybridkapitalbesitzer 1 554 2 072
davon den Eigentümern des Mutterunternehmens zuzurechnen (45 701) 19 748
6. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
6
CONSOLIDATED STATEMENT
OF FINANCIAL POSITION
€ in thousands 30 Jun 2019 31 Mar 2019
ASSETS
Property, plant and equipment 798,654 777,742
Intangible assets 54,610 60,121
Financial assets 193 193
Deferred tax assets 35,344 35,555
Other non-current assets 28,340 24,664
Non-current assets 917,141 898,275
Inventories 91,104 84,465
Trade and other receivables and contract assets 224,882 229,045
Financial assets 250,355 239,752
Current income tax receivables 5,282 5,728
Cash and cash equivalents 286,091 326,841
Current assets 857,714 885,831
Total assets 1,774,855 1,784,106
EQUITY
Share capital 141,846 141,846
Other reserves 4,501 42,444
Hybrid capital 172,887 172,887
Retained earnings 440,070 446,274
Equity attributable to owners of the parent company 759,304 803,451
Total equity 759,304 803,451
LIABILITIES
Financial liabilities 702,270 679,076
Provisions for employee benefits 48,787 48,409
Deferred tax liabilities 5,673 5,547
Other liabilities 15,663 16,196
Non-current liabilities 772,393 749,228
Trade and other payables 186,973 179,954
Financial liabilities 42,995 37,967
Current income tax payables 10,673 9,331
Other provisions 2,517 4,175
Current liabilities 243,158 231,427
Total liabilities 1,015,551 980,655
Total equity and liabilities 1,774,855 1,784,106
7. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
7
CONSOLIDATED STATEMENT
OF CASH FLOWS
€ in thousands 1 Apr - 30 Jun 2019 1 Apr - 30 Jun 2018
Operating result (562) 18,323
Depreciation, amortisation and impairment of property, plant and equipment and intangible assets 35,466 33,673
Gains/losses from the sale of fixed assets 15 22
Changes in non-current provisions 698 289
Non-cash expense/(income), net (3,886) (4,968)
Interest paid (1,593) (2,454)
Interest received 1,921 702
Income taxes paid (1,545) (7,160)
Cash flow from operating activities before changes in working capital 30,514 38,427
Inventories (9,030) (12,246)
Trade and other receivables and contract assets (3,803) (5,507)
Trade and other payables 12,360 (15,297)
Other provisions (1,536) (792)
Cash flow from operating activities 28,505 4,585
Capital expenditure for property, plant and equipment and intangible assets (49,698) (17,107)
Proceeds from the sale of property, plant and equipment and intangible assets 20 25
Capital expenditure for financial assets (18,764) (11,154)
Proceeds from the sale of financial assets 4,697 6,622
Cash flow from investing activities (63,745) (21,614)
Proceeds from borrowings 132 –
Repayments of borrowings (2,950) (1,946)
Proceeds from government grants 108 3,176
Cash flow from financing activities (2,710) 1,230
Change in cash and cash equivalents (37,950) (15,799)
Cash and cash equivalents at beginning of the year 326,841 270,729
Exchange gains/(losses) on cash and cash equivalents (2,800) 8,509
Cash and cash equivalents at end of the period 286,091 263,439
8. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
8
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY
€ in thousands
Share
capital
Other
reserves Hybrid capital
Retained
earnings
Equity
attributable
to owners
of the parent
company
Non-
controlling
interests
Total
equity
31 Mar 2018 141,846 27,505 172,887 369,153 711,391 – 711,391
Adjustments IFRS 15, IFRS 9 – – – 10,393 10,393 – 10,393
01 Apr 2018 141,846 27,505 172,887 379,546 721,784 – 721,784
Profit for the period – – – 13,549 13,549 – 13,549
Other comprehensive income for the period – 8,271 – – 8,271 – 8,271
thereof currency translation differences – 8,769 – – 8,769 – 8,769
thereof change in hedging instruments for cash flow
hedges, net of tax
– (498) – – (498) – (498)
Total comprehensive income for the period – 8,271 – 13,549 21,820 – 21,820
30 Jun 2018 141,846 35,776 172,887 393,095 743,604 – 743,604
31 Mar 2019 141,846 42,444 172,887 446,274 803,451 – 803,451
Profit for the period – – – (6,204) (6,204) – (6,204)
Other comprehensive income for the period – (37,943) – – (37,943) – (37,943)
thereof currency translation differences – (35,666) – – (35,666) – (35,666)
thereof change in hedging instruments for cash flow
hedges, net of tax
– (2,277) – – (2,277) – (2,277)
Total comprehensive income for the period – (37,943) – (6,204) (44,147) – (44,147)
30 Jun 2019 141,846 4,501 172,887 440,070 759,304 – 759,304
9. AT&S INTERIM REPORT Q1 2019/20 FIRST CHOICE
FOR ADVANCED APPLICATIONS
9
Mobile Devices &
Substrates
Automotive,
Industrial, Medical Others
Elimination/
Consolidation Group
€ in thousands
1 Apr - 30 Jun
2019
1 Apr - 30 Jun
2018
1 Apr - 30 Jun
2019
1 Apr - 30 Jun
2018
1 Apr - 30 Jun
2019
1 Apr - 30 Jun
2018
1 Apr - 30 Jun
2019
1 Apr - 30 Jun
2018
1 Apr - 30 Jun
2019
1 Apr - 30 Jun
2018
Segment revenue 166,434 160,169 88,090 89,621 – 995 (31,785) (28,704) 222,739 222,081
Internal revenue (22,625) (22,381) (9,161) (6,323) – – 31,785 28,704 – –
External revenue 143,809 137,788 78,930 83,298 – 995 – – 222,739 222,081
Operating result before
depreciation/amortisation
23,784 39,288 10,886 11,984 234 724 – – 34,904 51,996
Depreciation/amortisation
incl. appreciation
(29,257) (28,905) (5,543) (4,434) (666) (333) – – (35,466) (33,673)
Operating result (5,473) 10,383 5,343 7,549 (432) 391 – – (562) 18,323
Finance costs - net (1,739) 1,703
Profit/(loss) before tax (2,301) 20,026
Income taxes (3,903) (6,477)
Profit/(loss) for the period (6,204) 13,549
Property, plant and equipment
and intangible assets1) 697,697 711,119 148,573 122,043 6,994 4,701 – – 853,264 837,863
Additions to property, plant and
equipment and intangible assets
38,001 9,854 10,334 6,303 916 508 – – 49,251 16,665
1)
Previous year values as of 31 March 2019
INFORMATION BY GEOGRAPHIC REGION
Revenues broken down by customer region, based on customer’s headquarters:
€ in thousands 1 Apr - 30 Jun 2019 1 Apr - 30 Jun 2018
Austria 3,788 5,257
Germany 36,839 45,353
Other European countries 19,538 18,386
China 2,341 2,728
Other Asian countries 14,116 14,071
Americas 146,117 136,286
Revenue 222,739 222,081
Property, plant and equipment and intangible assets broken down by domicile:
€ in thousands 30 Jun 2019 31 Mar 2019
Austria 99,046 73,275
China 697,378 711,064
Others 56,840 53,524
Property, plant and equipment and intangible assets 853,264 837,863
SEGMENT REPORTING
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FINANCIAL CALENDAR
07/11/2019 Publication of the first half-year 2019/20
04/02/2020 Publication of the first three quarters 2019/20
14/05/2020 Publication Preliminary Annual Results 2019/20
29/06/2020 Record Date Annual General Meeting
09/07/2020 26th Annual General Meeting
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CONTACT
Gerda Königstorfer
Phone: +43 (0)3842 200-5925
g.koenigstorfer@ats.net
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DISCLAIMER
This report contains forward-looking statements which were made on the basis of the information available at the time of
publication. These can be identified by the use of such expressions as “expects”, “plans”, “anticipates”, “intends”, “could”, “will”,
“aim” and “estimation” or other similar words. These statements are based on current expectations and assumptions. Such
statements are by their very nature subject to known and unknown risks and uncertainties. As a result, actual developments may
vary significantly from the forward-looking statements made in this report. Recipients of this report are expressly cautioned not to
place undue reliance on such statements. Neither AT&S nor any other entity accept any responsibility for the correctness and
completeness of the forward-looking statements contained in this report. 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.
Percentages and individual items presented in this report are rounded, which may result in rounding differences.
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This report in no way represents an invitation or recommendation to buy or sell shares in AT&S.
The report is published in German and English. In case of doubt, the German version is binding.
No responsibility accepted for errors or omissions.
Published on 2 August 2019
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