AT&S ends financial year with strong fourth-quarter results

Leoben (pts045/07.05.2013/19:30)

AT&S finished the financial year 2012/13 with total sales of around EUR 542 million (m), about 5% higher than a year ago. The group posted earnings before interest, tax, depreciation and amortisation (EBITDA) of around EUR 102m as at 31 March 2013 thanks to significantly improved capacity utilisation in the second half of the year.

AT&S Group's sales for the financial year 2012/13 reached EUR 542m, an improvement of around 5% on the previous year's total. Consolidated net income for the financial year 2012/13 dropped to about EUR 14m compared with EUR 27m a year ago, chiefly as a result of increased depreciation. Strong capacity utilisation in the second half of the financial year helped drive EBITDA to around EUR 102m, leading to a reduction in the net gearing ratio to around 70%, as against some 86% in the financial year 2011/12.

"Capacity utilisation has been strong at our plants over the past six months. We have seen a significant upturn in demand for Mobile Devices' high-value HDI printed circuit boards. Automotive recorded an increase in demand and we continued to build on our strong performance in the medical component segment. We are also delighted that demand for our ECP® technology picked up in the financial year just ended," said CEO Andreas Gerstenmayer.

The results* in detail:

	Q4 2012/13	Margin	Total 2012/13	Margin	Total 2011/12	Margin
Revenues	136.6		541.7		514.2
Gross profit	19.8	14.5%	76.9	14.2%	83.5	16.2%
EBIT	9.9	7.3%	30.9	5.7%	42.1	8.2%
EBITDA	27.5	20.1%	101.9	18.8%	103.4	20.1%
Profit before tax	8.0	5.9%	16.1	3.0%	32.3	6.3%
Consolidated net income	8.7		14.1		26.5
Earnings per share**	0.37		0.60		1.14
No. of shares outstanding (average)***	23,322		23,322		23,322

* In EUR m
** EUR
*** Thousands of shares (end)