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14.05.2009

DGAP-Adhoc: AT&S announces the results for the financial year 2008/09 and the 4th quarter ending 31 March 2009

AT&S Austria Technologie & Systemtechnik AG / Final Results 14.05.2009 Release of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- - Difficult economic environment caused decline of revenues by 7.4% and under-utilisation of all plants, in particular in the 4th quarter of financial year 2008/09 - Printed circuit board business is fixed costs intensive. Therefore, under-utilisation causes pressure on margins. Gross profit fell by 25,7%; the gross profit margin from 18,4% to 14,7% - Financial year 2008/09 earnings adversely affected by restructuring at Leoben-Hinterberg facility and write downs at AT&S Korea. Adjusted for non-recurring items and considering the current market environment, solid results have been achieved: - EBIT was EUR 26.6m, with an EBIT margin of 6% - EBITDA amounted to EUR 70.8m, the EBITDA margin 16% - Consolidated net income was EUR 24.8m - Earnings per share were EUR 1.08 - Strong equity base of EUR 252.7m, i.e. EUR 10.8 per share - No longer any goodwill in AT&S balance sheet - Management Board of AT&S will propose a dividend of EUR 0.18 to the Annual General Meeting on 2 July 2009 |[![CDATA[|[pre|]]]|] * FY 08/09 FY 07/08 Change Revenues 449.9 485.7 -7.4% Gross profit 66.4 89.3 -25.7% Gross profit margin 14.7% 18.4% EBITDA 52.4 79.8 -34.4% Operating result (EBIT) -1.1 42.1 -102.5% EBIT margin -0.2% 8.7% Profit before tax 0.2 45.2 -99.5% Profit/loss for the period -5.8 41.3 -114.0% Earnings per share (EUR) -0.23 1.83 Net debt** 174.4 139.9 Net gearing 69.1% 62.0% |[![CDATA[|[/pre|]]]|] |[![CDATA[|[pre|]]]|] * Q4 08/09 Q4 07/08 Change Revenues 98.5 117.4 -16.1% Gross profit 7.2 21.7 -66.9% Gross profit margin 7.3% 18.5% EBITDA 8.5 19.7 -56.8% Operating result (EBIT) -3.4 8.3 -140.9% EBIT margin -3.4% 7.1% Profit before tax 0.9 8.9 -90.4% Profit/Loss for the period -0.9 8.0 -111.5% Earnings per share (EUR) -0.03 0.37 |[![CDATA[|[/pre|]]]|] * Unless otherwise stated, all amounts in EUR million. ** Calculated: financial liabilities - cash and cash equivalents - financial assets Outlook: Focus on cash-flow Analysts expect the global printed circuit board industry's sales to fall by around 16% in 2009. It cannot be expected that AT&S will be able to retreat from this trend. The reorientation of the Mobile Devices strategy will entail loss of market share. Hence, the production capacities already installed allow AT&S to limit investments (CAPEX). For financial year 2009/10 investments of up to EUR 30 million are scheduled. However, approximately half of which result from projects already started in business year 2008/09. AT&S expects the first quarter of financial 2009/10 to show lower revenues and weaker ordinary results than in the previous quarter. The results and the Excel format financial statements (excl. notes) for FY 2008/09 will be posted on the Investors section of www.ats.net today, at 8am (CET). The 2008/09 annual report will be available in pdf-format by mid-June. For more information contact Hans Lang, IRO, Tel. +43 (1) 68300 9259, e-mail: h.lang@ats.net 14.05.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: 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 WKN: 922230 Listed: Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart; Open Market in Frankfurt; Foreign Exchange(s) Wien End of News DGAP News-Service =--------------------------------------------------------------------------

AT&S Austria Technologie & Systemtechnik AG / Final Results 14.05.2009 Release of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- - Difficult economic environment caused decline of revenues by 7.4% and under-utilisation of all plants, in particular in the 4th quarter of financial year 2008/09 - Printed circuit board business is fixed costs intensive. Therefore, under-utilisation causes pressure on margins. Gross profit fell by 25,7%; the gross profit margin from 18,4% to 14,7% - Financial year 2008/09 earnings adversely affected by restructuring at Leoben-Hinterberg facility and write downs at AT&S Korea. Adjusted for non-recurring items and considering the current market environment, solid results have been achieved: - EBIT was EUR 26.6m, with an EBIT margin of 6% - EBITDA amounted to EUR 70.8m, the EBITDA margin 16% - Consolidated net income was EUR 24.8m - Earnings per share were EUR 1.08 - Strong equity base of EUR 252.7m, i.e. EUR 10.8 per share - No longer any goodwill in AT&S balance sheet - Management Board of AT&S will propose a dividend of EUR 0.18 to the Annual General Meeting on 2 July 2009 |[![CDATA[|[pre|]]]|] * FY 08/09 FY 07/08 Change Revenues 449.9 485.7 -7.4% Gross profit 66.4 89.3 -25.7% Gross profit margin 14.7% 18.4% EBITDA 52.4 79.8 -34.4% Operating result (EBIT) -1.1 42.1 -102.5% EBIT margin -0.2% 8.7% Profit before tax 0.2 45.2 -99.5% Profit/loss for the period -5.8 41.3 -114.0% Earnings per share (EUR) -0.23 1.83 Net debt** 174.4 139.9 Net gearing 69.1% 62.0% |[![CDATA[|[/pre|]]]|] |[![CDATA[|[pre|]]]|] * Q4 08/09 Q4 07/08 Change Revenues 98.5 117.4 -16.1% Gross profit 7.2 21.7 -66.9% Gross profit margin 7.3% 18.5% EBITDA 8.5 19.7 -56.8% Operating result (EBIT) -3.4 8.3 -140.9% EBIT margin -3.4% 7.1% Profit before tax 0.9 8.9 -90.4% Profit/Loss for the period -0.9 8.0 -111.5% Earnings per share (EUR) -0.03 0.37 |[![CDATA[|[/pre|]]]|] * Unless otherwise stated, all amounts in EUR million. ** Calculated: financial liabilities - cash and cash equivalents - financial assets Outlook: Focus on cash-flow Analysts expect the global printed circuit board industry's sales to fall by around 16% in 2009. It cannot be expected that AT&S will be able to retreat from this trend. The reorientation of the Mobile Devices strategy will entail loss of market share. Hence, the production capacities already installed allow AT&S to limit investments (CAPEX). For financial year 2009/10 investments of up to EUR 30 million are scheduled. However, approximately half of which result from projects already started in business year 2008/09. AT&S expects the first quarter of financial 2009/10 to show lower revenues and weaker ordinary results than in the previous quarter. The results and the Excel format financial statements (excl. notes) for FY 2008/09 will be posted on the Investors section of www.ats.net today, at 8am (CET). The 2008/09 annual report will be available in pdf-format by mid-June. For more information contact Hans Lang, IRO, Tel. +43 (1) 68300 9259, e-mail: h.lang@ats.net 14.05.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: 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 WKN: 922230 Listed: Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart; Open Market in Frankfurt; Foreign Exchange(s) Wien End of News DGAP News-Service =--------------------------------------------------------------------------

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