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DGAP-Adhoc: AT&S announces the results for the 1st quarter 2009/10 ending 30 June 2009

23.07.2009
AT&S Austria Technologie & Systemtechnik AG / Quarter Results 23.07.2009 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 27.7% compared to the 1st quarter of the last financial year and under-utilisation of all plants - Printed circuit board business is fixed costs intensive. Therefore, under-utilisation causes significant pressure on margins - 1st quarter 2009/10 earnings adversely affected by restructuring activities - in particular at Leoben-Hinterberg facility. Adjusted for non-recurring items the following results have been generated: - EBIT: EUR -11.8m - EBITDA: EUR -0.5m - Consolidated net income: EUR -13.9m - Earnings per share: EUR -0.59 - Total equity amounted to EUR 184.5m as of 30 June 2009, i.e. EUR 7.9 per share |[![CDATA[|[pre|]]]|] * Q1 09/10 Q1 08/09 Change Revenues 83.2 115.2 -27.7% Gross profit -0.8 15.9 -16.7 Gross profit margin -0.9% 13.8% EBITDA -20.3 15.7 -36.0 Operating result (EBIT) -50.1 5.6 -55.7 EBIT margin -60.2% 4.9% Profit before tax -53.2 5.3 -58.5 Profit/Loss for the period -52.2 5.0 -57.2 Earnings per share (EUR) -2.23 0.22 -2.5 |[![CDATA[|[/pre|]]]|] |[![CDATA[|[pre|]]]|] * Q1 09/10 Q4 08/09 Change Revenues 83.2 98.5 -15.5% Gross profit -0.8 7.2 -8.0 Gross profit margin -0.9% 7.3% EBITDA -20.3 8.5 -28.8 Operating result (EBIT) -50.1 -3.4 -46.7 EBIT margin -60.2% -3.4% Profit before tax -53.2 0.9 -54.1 Profit/loss for the period -52.2 -0.9 -51.3 Earnings per share (EUR) -2.23 -0.03 -2.2 30.06.2009 31.03.2009 Change Net debt** 159.5 174.4 -14.9 Net gearing 86.7% 69.1% |[![CDATA[|[/pre|]]]|] * Unless otherwise stated, all amounts in EUR million. ** Calculated: financial liabilities - cash and cash equivalents - financial assets Outlook We assume that the first quarter marked the low point in the present financial year. For AT&S, the second and third quarters are traditionally the strongest. Therefore, despite the generally unfavourable economic climate, we expect an improvement in the order book, capacity utilisation and earnings. In the light of the economic situation, however, it is not to be expected that the first quarter's operating losses (even excluding restructuring expenses) can be entirely made good during the rest of financial 2009/10. The process of strategic adjustment will be completed with the current restructuring activities. Then, AT&S will be ideally positioned for the future. The three Austrian plants will focus on European markets exclusively. The factory in India will support European business with medium-sized PCB series using standard technologies. In addition to its home market, AT&S Korea will increasingly focus on Europe, where flexible and rigid-flex circuit boards are of growing importance. AT&S's plant in Shanghai, the largest HDI production facility in China, manufactures high volume HDI circuit boards for the global market. With such an excellent market positioning, a customer portfolio that is unique in the industry, technological leadership and the continuing soundness of its finances, AT&S can be expected to emerge as a winner from the economic crisis. Today, at 8am (CET), the results and the Excel format financial statements (excl. notes) for the 1st quarter 2009/10 will be posted on www.ats.net (Section: Investors > Publications) where also the quarterly report in pdf-format will be available for download from mid-August. For more information contact Hans Lang, IRO, Tel. +43-1-68300 9259, e-mail: h.lang@ats.net 23.07.2009 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, AT0000A09S02 WKN: 922230 Listed: Freiverkehr in Berlin, Hannover, München, Hamburg, Düsseldorf, Stuttgart; Open Market in Frankfurt; Foreign Exchange(s) Wien End of News DGAP News-Service =--------------------------------------------------------------------------

AT&S Austria Technologie & Systemtechnik AG / Quarter Results 23.07.2009 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 27.7% compared to the 1st quarter of the last financial year and under-utilisation of all plants - Printed circuit board business is fixed costs intensive. Therefore, under-utilisation causes significant pressure on margins - 1st quarter 2009/10 earnings adversely affected by restructuring activities - in particular at Leoben-Hinterberg facility. Adjusted for non-recurring items the following results have been generated: - EBIT: EUR -11.8m - EBITDA: EUR -0.5m - Consolidated net income: EUR -13.9m - Earnings per share: EUR -0.59 - Total equity amounted to EUR 184.5m as of 30 June 2009, i.e. EUR 7.9 per share |[![CDATA[|[pre|]]]|] * Q1 09/10 Q1 08/09 Change Revenues 83.2 115.2 -27.7% Gross profit -0.8 15.9 -16.7 Gross profit margin -0.9% 13.8% EBITDA -20.3 15.7 -36.0 Operating result (EBIT) -50.1 5.6 -55.7 EBIT margin -60.2% 4.9% Profit before tax -53.2 5.3 -58.5 Profit/Loss for the period -52.2 5.0 -57.2 Earnings per share (EUR) -2.23 0.22 -2.5 |[![CDATA[|[/pre|]]]|] |[![CDATA[|[pre|]]]|] * Q1 09/10 Q4 08/09 Change Revenues 83.2 98.5 -15.5% Gross profit -0.8 7.2 -8.0 Gross profit margin -0.9% 7.3% EBITDA -20.3 8.5 -28.8 Operating result (EBIT) -50.1 -3.4 -46.7 EBIT margin -60.2% -3.4% Profit before tax -53.2 0.9 -54.1 Profit/loss for the period -52.2 -0.9 -51.3 Earnings per share (EUR) -2.23 -0.03 -2.2 30.06.2009 31.03.2009 Change Net debt** 159.5 174.4 -14.9 Net gearing 86.7% 69.1% |[![CDATA[|[/pre|]]]|] * Unless otherwise stated, all amounts in EUR million. ** Calculated: financial liabilities - cash and cash equivalents - financial assets Outlook We assume that the first quarter marked the low point in the present financial year. For AT&S, the second and third quarters are traditionally the strongest. Therefore, despite the generally unfavourable economic climate, we expect an improvement in the order book, capacity utilisation and earnings. In the light of the economic situation, however, it is not to be expected that the first quarter's operating losses (even excluding restructuring expenses) can be entirely made good during the rest of financial 2009/10. The process of strategic adjustment will be completed with the current restructuring activities. Then, AT&S will be ideally positioned for the future. The three Austrian plants will focus on European markets exclusively. The factory in India will support European business with medium-sized PCB series using standard technologies. In addition to its home market, AT&S Korea will increasingly focus on Europe, where flexible and rigid-flex circuit boards are of growing importance. AT&S's plant in Shanghai, the largest HDI production facility in China, manufactures high volume HDI circuit boards for the global market. With such an excellent market positioning, a customer portfolio that is unique in the industry, technological leadership and the continuing soundness of its finances, AT&S can be expected to emerge as a winner from the economic crisis. Today, at 8am (CET), the results and the Excel format financial statements (excl. notes) for the 1st quarter 2009/10 will be posted on www.ats.net (Section: Investors > Publications) where also the quarterly report in pdf-format will be available for download from mid-August. For more information contact Hans Lang, IRO, Tel. +43-1-68300 9259, e-mail: h.lang@ats.net 23.07.2009 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, AT0000A09S02 WKN: 922230 Listed: Freiverkehr in Berlin, Hannover, München, Hamburg, Düsseldorf, Stuttgart; Open Market in Frankfurt; Foreign Exchange(s) Wien End of News DGAP News-Service =--------------------------------------------------------------------------

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