AT&S Austria Technologie & Systemtechnik AG

Quarterly Report • Feb 12, 2001

News Details

Ad-hoc | 12 February 2001 08:04

Ad hoc-Service: AT&S Austr.T. & Systemt.

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— AGENDA: 1) Nine month Result for the fiscal year 2000/2001 2) China project 3) Expansion Fehring plant 4) Augsburg 5) Order situation 6) Outlook for the full year result AD 1) Nine month Result for the fiscal year 2000/2001 —————————————————- AT&S Austria Technologie und Systemtechnik AG announces herewith its nine month result for the fiscal year 2000/2001: Consolidated statements of income pursuant to US-GAAP For the period April 1 – December 31 in thousand EURO (Extracts of the full P&L) April 1 – December 31 2000 1999 Net Sales 222,953 160,990 Total revenues 224,089 162,076 Cost of sales (173,190) (131,626) Gross profit 50,899 30,450 Total operating expenses (14,768) (12,121) Operating income 36,131 18,329 Financial results 129 (243) Income taxes (11,051) 2,170 Income from continuing operations 25,209 20,256 Loss from discontinued operations — (1,528) Net income 25,209 18,728 Earnings per share for the period pursuant US-GAAP 0.90 0.75 Weighted average number of shares outstanding 28,000,000 24,946,000 Consolidated Statements of cash flow (US-GAAP) For the period April 1 – December 31 in thousand EURO (Extracts of the full cash flow statement) April 1 – December 31 2000 1999 Operating Cash Flow 46,144 31,685 Change in working capital (10,677) (1,644) Net cash provided by operating activities 35,467 30,041 Net cash used in investing activities (38,323) (111,828) Net cash provided by financing activities 33,804 105,067 Increase in cash and cash equivalents 30,920 23,320 Key figures for the nine month result pursuant to US-GAAP December 31 2000 1999 EBIT margin 16.1 % 11.3 % EBITDA margin 25.4 % 19.8 % Percentage of own funds 52.9 % 55.3 % Gearing 19.3 % 8.5 % ROE 16.4 % 19.3 % Net Debt in Euro million 41.3 15.9 The full nine month report can be retrieved from the home page of AT&S at www.atspcb.com or ordered by mail from AT&S at: Fabriksgasse 13, A-8700 Leoben The financial result for the period March 1, 2000 – December31, 2000 is attributable to the following: – An almost complete collapse of the Indian PCB market was only partially offset by concentration on export business – A very positive result of operations in Hinterberg especially regarding the ramp-up of the Hinterberg II facility AD 2) China project ——————- The negotiations with the Chinese authorities should be completed within the next few weeks. Pursuant to the current planning, construction is scheduled for the end of the first, at the latest at the beginning of the second quarter of 2001. AD 3) Expansion Fehring plant —————————– The Fearing facility will be expanded, with total investments of EUR 18 million, to the production of HDI/Microvia boards. AD 4) Augsburg ————– Augsburg was refocused in summer 2000 to products for the telecommunication- infrastructure industry. This additional technology step into high layer count, complex HDI/Microvia PCBs led to deterioration in yield and profitability in the Augsburg plant. This deterioration is a result of bottlenecks in the production. Through investments in the 4th quarter of EUR 6 million these bottlenecks should be cleared step by step. AD 5) Order situation ——————— Next to a EUR 15 Million one year contract with Ericsson infrastructure division,a EUR 14 million contract in the segment embedded technologies was signed to produce PCBs with integrates resistors. Through the expansion of the Fehring facility we expect from existing contracts an additional sales volume of EUR 8 million in the financial year 2001/2002 and of EUR 20 million in the following financial years. AD 6) Outlook for the full year result ————————————– In view of the highly satisfactory development in the first nine months we expect that AT&S will achieve the following result for the full year: EPS 1.30 Euro (basis 28 million shares) For the fiscal year 2001/2001 we expect a top line (revenue) growth of 40%. If you have any inquiries please contact Nicolas Pawloff Investor Relations Tel: +43 384 220 0211 Ende der Mitteilung