AT&S Austria Technologie & Systemtechnik AG

Earnings Release • Oct 29, 2002

News Details

Ad-hoc | 29 October 2002 07:30

AT&S Austr. T. & Systemt. english

Results for the First Half of FY 2002-2003 ended September 30, 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Results for the First Half of FY 2002-2003 ended September 30, 2002 AT&S AG, Leoben, October 29, 2002. In the first half of the 2002-2003 fiscal year, despite the prevailing pricing pressure and the start-up costs for the new plant in China, AT&S was able, in a still very difficult economic environment, to achieve clearly improved operating income in comparison to the same period of fiscal 2001-2002, as well as a considerably higher net income for the period (EUR 6.8 million in comparison to EUR 4.6 million in the first half of the 2001- 2002 fiscal year). Total revenues in the first half of 2002-2003 amounted to EUR 128.8 million and were thus lower than the same figure of the previous fiscal year (EUR 135.3 million). The gross profit margin was 18.2% in comparison to 13.7% in the same period of the previous fiscal year. The level of net debt has increased in comparison to the previous quarter mainly due to the financing needs for building up the Chinese plant and the continued stock repurchase program. Key figures (in EUR million, earnings/share in EUR): HY 2002-2003 Margin HY 2001-2002 Margin EBIT 9.6 7.4% 7.6 5.6% EBITDA 29.5 22.9% 26.2 19.4% Earnings/share 0.25 0.16 CF from operating activities 30.3 17.3 Net debt 48.0 50.5 Net gearing 24.5% 22.7% Visibility and capacity utilization currently appears slightly improved – amongst other things against the background of the increased demand of the hand- held telecom industry until the end of the calendar year. However, management does not yet view this as an indication of a sustained improvement in this market segment in the coming year. On the basis of current information available total group revenues for the full fiscal year 2002-2003 are anticipated to be roughly equal to or slightly above the previous year’s level, however, operating results should significantly improve. The Half Year 2002-2003 Report (PDF) as well as the result presentation can be retrieved from our website, http://www.ats.net (IR, Downloads, Letters/Shareholders and Conference Calls, resp.), as of today at 08h00 (CET). For any inquiries please contact Manfred Weierer, Investor Relations, Tel: +43-3842-200-211, E-Mail: m.weierer@ats.net. end of ad-hoc-announcement (c)DGAP 29.10.2002 ——————————————————————————– WKN: 922 230; ISIN: AT0000969985; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 290730 Okt 02