AT&S Austria Technologie & Systemtechnik AG

Earnings Release • Oct 21, 2009

News Details

Ad-hoc | 21 October 2009 07:40

AT&S announces results for second quarter of FY 2009/10, ended 30 September 2009

AT&S Austria Technologie & Systemtechnik AG / Half Year Results

21.10.2009

Dissemination of an Ad hoc announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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• The results for the second quarter show a definite upwards trend. Sales
  revenues rose from EUR 25.5 million (m) in July to EUR 27.7m in August
  and EUR 34.8m in September. Second-quarter sales were 6% up on the
  first quarter. All plants were working at full capacity in September.

• The restructuring and strategic realignment of the Leoben-Hinterberg
  plant has been successfully completed. Business focused on the needs of
  European customers has more than doubled year on year, despite the fact
  that market analyses show that total production in the European printed
  circuit board industry will shrink by more than half in 2009.

• Restructuring and a groupwide cost reduction programme have slimmed
  AT&S's cost base significantly. Despite a EUR 4.8m increase in sales in
  the second quarter, production costs dropped by EUR 8.0m compared with
  the first quarter.

• Equity fell by EUR 11m in the most recent quarter, mainly as a result
  of the distribution of dividends and exchange rate effects, to stand at
  EUR 173.5m or EUR 7.40 per share, at 30 September 2009.

• Since the beginning of the financial year net debt has fallen by EUR
  8.8m. However, the gearing ratio has risen to 95% reflecting the
  decrease in equity.

• It seems that the losses of the first quarter can be made up in the
  course of the financial year 2009/10.

  * 1H 09/10 1H 08/09 Change
  Revenues 171.3 234.2 -62.9
  Gross profit 11.3 39.1 -27.9
  Gross profit margin 6.6% 16.7%
  EBITDA -5.1 41.3 -46.4
  Operating result (EBIT) -45.3 20.6 -65.9
  EBIT margin -26.4% 8.8%
  Profit before tax -51.1 20.3 -71.4
  Profit/Loss for the period -49.9 18.6 -68.5
  Earnings per share (EUR) -2.13 0.80 -2.93

  * Q2 09/10 Q1 09/10 Change
  Revenues 88.0 83.2 4.8
  Gross profit 12.0 -0.8 12.8
  Gross profit margin 13.7% -0.9%
  EBITDA 15.2 -20.3 35.5
  Operating result (EBIT) 4.8 -50.1 54.9
  EBIT margin 5.5% -60.2%
  Profit before tax 2.1 -53.2 55.3
  Profit/loss for the period 2.3 -52.2 54.5
  Earnings per share (EUR) 0.10 -2.23 2.33
  30/09/2009 31/03/2009 Change
  Net debt** 165.6 174.4 -8.8
  Net gearing 95.4% 69.1%

* Except as otherwise specified, all amounts in EUR million

** Financial liabilities less cash and cash equivalents and financial
assets

The results and the Excel format interim financial statements (not
including notes) for the second quarter of 2009/10 were posted today at 8am
(CET) in the investors section of www.ats.net (Investors > Publications),
where the financial report for the first half of 2009/10 will also be
available from the middle of November.

For more information contact Hans Lang, IRO
Tel: +43 (1) 68300 9259, e-mail: h.lang@ats.net

21.10.2009 financial News transmitted by DGAP

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Language: English
Company: AT&S Austria Technologie & Systemtechnik AG
Fabriksgasse 13
8700 Leoben
Österreich
Phone: +43 (1) 3842200-0
Fax: +43 (1) 3842200-216
E-mail: info@ats.net
Internet: www.ats.net
ISIN: AT0000969985, AT0000A09S02
WKN: 922230
Listed: Freiverkehr in Berlin, Hannover, München, Hamburg,
Düsseldorf, Stuttgart; Open Market in Frankfurt; Foreign
Exchange(s) Wien

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