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EANS-News AT & S Austria Technologie & Systemtechnik Aktiengesellschaft / AT&S reports increase in revenue and excellent profitability in the first nine months

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30.01.2019, 20:15  |  564   |   |   
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Quarterly Report

Leoben - AT&S reports increase in revenue and excellent profitability in the
first nine months


* Broad product portfolio supports positive business development
* Very strong demand for IC substrates and in the Medical & Healthcare segment
* Weaker demand in Mobile Devices in the third quarter
* Slight increase in revenue to EUR 790.1 million
* EBITDA up nearly 16% mainly due to efficiency increases
* Better profitability with an EBITDA margin of 27.9% and an EBIT margin of
15.4%
* Outlook for 2018/19: revenue growth of around 3% and EBITDA margin of 24 to
26%


In comparison with the same period of the previous year, AT&S increased revenue
and significantly improved earnings. "After a very positive first half-year, the
demand for mobile devices declined towards the end of the third quarter. Thanks
to the broad product, technology and customer portfolio, we were nevertheless
able to match the exceptionally high level of the previous year," AT&S CEO
Andreas Gerstenmayer commented on the current development.

Accumulated revenue rose by 3.2% from EUR 765.9 million to EUR 790.1 million.
Sales increases for IC substrates and in the Medical & Healthcare segment
partially offset the decline in demand recorded in the Mobile Devices,
Automotive and Industrial segments in the third quarter. Exchange rate effects,
especially the weaker US dollar, had a negative impact on the revenue
development. Positive effects resulted from the application of the new
accounting standard (IFRS 15).

EBITDA increased by 15.9% from EUR 190.3 million to EUR 220.5 million. The
increase primarily results from efficiency and productivity improvements, the
absence of the start-up costs incurred in Chongqing in the previous year and a
favourable product mix. This result was supported by positive currency effects.
The EBITDA margin amounted to 27.9% in the first nine months, an increase of 3.1
percentage points compared to the previous year level of 24.8%.

EBIT improved from EUR 88.8 million to EUR 121.5 million. The EBIT margin
amounted to 15.4% (previous year: 11.6%).
Finance costs - net improved significantly from EUR -11.3 million to EUR -2.6
million. Although gross debt was substantially higher than in the previous year,

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