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AT & S Austria Technologie und Systemtechnik Aktiengesellschaft / First half of 2017/18: AT&S with significant increase in revenue and earnings

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Mid Year Results

Leoben -

* Very strong demand and utilisation at the capacity limit
* Ramp-up of new technology generation mSAP better and faster than expected
* Further efficiency enhancements at IC substrate plant in Chongqing
* Revenue up 25.7% to EUR 485.7 million
* EBITDA more than doubled to EUR 104.4 million
* Profit for the period positive again at EUR 15.4 million


In the first six months of the financial year 2017/18, AT&S recorded a very
positive revenue and earnings development compared with the same period of the
previous year, which also led to an increase in the guidance for the financial
year 2017/18 on 9 October 2017.

"After some very challenging quarters, primarily due to the ramp-up of both
plants in Chongqing, China, we now see a development in the right direction
again," says CEO Andreas Gerstenmayer. "Several factors are decisive in this
context: On the one hand, we not only achieved significantly higher revenue with
IC substrates in comparison with the previous year, but also efficiency
improvements, even though the price situation is still tense. On the other hand,
the introduction of the new technology generation in the core business went
faster and better than expected, and the other business segments also developed
very positively so that nearly all our plants are working at full capacity. With
this development, we have accomplished an important step to return to an
adequate company performance again."

Asset, financial and earnings position
Revenue rose by EUR 99.2 million or 25.7% from EUR 386.5 million to EUR 485.7
million. EBITDA was up EUR 52.3 million or 100.4% from EUR 52.1 million to EUR
104.4 million. The increase is primarily attributable to general efficiency
measures and the fact that the technological challenges of the newly introduced
technologies in the core business were overcome faster than expected. This
development was supported by a positive product mix and - based on the weaker
development of the Chinese renminbi against the euro - a favourable currency
development for production costs. The EBITDA margin amounted to 21.5%, thus
exceeding the prior-year level of 13.5% by 8.0 percentage points. The
comparative figures of the previous year were characterised by the ramp-up of