pts20130121035 Companies/Finance, Science/Technology
Third quarter: AT&S posts record revenues and improved operating results
Leoben (pts035/21.01.2013/18:45) - The launch of new models by leading smartphone manufacturers, and stronger demand for high-end printed circuit boards in the premium class automotive segment resulted in an improvement in operating results compared with the first half of the financial year 2012/13. In addition, sales reached new record highs for both segments.
In the third quarter AT&S Group achieved record revenues of EUR 150m and earnings before interest, tax, depreciation and amortisation (EBITDA) of around EUR 30.5m. As a result, revenues for the first nine months of the financial year 2012/13 increased to about EUR 405m, while earnings per share rose to EUR 0.23.
This rise in revenues is predominantly attributable to improved capacity utilisation at the Group's HDI plant in Shanghai. Although utilisation was below expectations in the first half of this year, order intake picked up sharply in the third quarter following the successful launch of several new products in the Mobile Devices market. HDI printed circuit boards are also increasingly being used for high-end, premium class automotive applications. Demand for high-quality printed circuit boards from European industrial customers dropped, in line with the overall economic situation. "We could not fully make up for our slow start to the year, but strong sales performance in the Mobile Devices segment in the run-up to Christmas and the continuing steady demand for high-value interconnection solutions in the Automotive segment contributed to an improvement in operating income and record revenues in the third quarter. Our strategy of increasing our presence in the medical sector is now bearing fruit and revenues from this segment are up by 50% in the financial year to date," explained CEO Andreas Gerstenmayer.
The results* in detail:
|Gross profit||57.16 ||14.11%||62.37 ||16.78%|
|EBITDA||74.43 ||18.37%||75.91 ||20.42%|
|Profit before tax||8.06||1.99%||26.07||7.01%|
|Consolidated net income||5.44||1.34%||21.86 ||5.88%|
|Earnings per share**||0.23 ||0.94 |
* EUR m
*** Thousands of shares
The Excel-format financial statements (not including notes) for the third quarter of the financial year 2012/13 are available online at http://www.ats.net/investors/downloadcentre/ . The quarterly report will be available in .pdf format from late February.
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