AT&S announces results for the financial year 2009/10 and fourth quarter to 31 March 2010

AT&S Austria Technologie & Systemtechnik AG / Final Results

11.05.2010 07:28 

Dissemination of an Ad hoc announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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  - AT&S responded to the losses in the first quarter of the financial year
    by implementing a Group-wide cost-reduction programme, restructuring
    the Leoben-Hinterberg plant and intensifying its sales activities.
    These measures have significantly reduced the Company's cost base.
    Signs of improvement began to emerge in the second quarter, when the
    Group again recorded positive earnings. The third quarter was one of
    the most profitable in AT&S's history.

  - In the final quarter of the financial year 2009/10 the Company saw a
    sharp year-on-year rise in the EBIT margin to 6.2% (Q4 2008/09: -1.5%).
    The sequential decline in the EBIT margin was mainly due to lower
    manufactured value at the volume production site Shanghai (as a
    consequence of Chinese New Year), higher material and energy costs and
    a less attractive product mix.

  - Already in the third quarter, AT&S surpassed its goal of breakeven EBIT
    (excluding one-time effects of EUR -36.5 million) for the financial
    year 2009/10. Even profit before tax (excluding one-time effects)
    turned positive in 2009/10.

  - Net debt fell by EUR 26.4 million in the financial year 2009/10. As a
    result of the losses sustained in the first quarter, equity slipped
    from EUR 252.7 million to EUR 208.8 million, but the gearing ratio (net
    debt/equity) went up only slightly to 71%. However, it remained well
    below the target of 80%.

  - Management Board of AT&S will propose a dividend of EUR 0.10 to the
    Annual General Meeting on 7 July 2010.

<pre>

*                                  FY 2009/10     FY 2008/09     Change
Revenues                           372.2          449.9          -77.7
Gross profit                       44.9           66.4           -21.5
Gross profit margin                12.1%          14.7%
EBITDA                             52.6           70.8           -18.2
Operating result (EBIT)            11.0           26.6           -15.6
EBIT margin                        2.9%           5.9%
Profit before tax                  2.6            27.8           -25.2
Profit/Loss for the period         -1.1           24.8           -25.9
Earnings per share (EUR)           -0.03          1.08           -1.11


</pre>

<pre>

*                                  Q4 09/10       Q4 08/09       Change
Revenues                           99.7           98.5           1.2
Gross profit                       12.9           7.2            5.7
Gross profit margin                12.9%          7.3%
EBITDA                             15.7           10.3           5.4
Operating result (EBIT)            6.2            -1.5           7.7
EBIT margin                        6.2%           -1.5%
Profit before tax                  4.5            2.7            1.8
Profit/loss for the period         2.7            2.5            0.2
Earnings per share (EUR)           0.12           0.11           0.01
                                   31/03/2010     31/03/2009     Change
Net debt**                         148.0          174.4          -26.4
Net gearing                        71.0%          69.1%


</pre>

* All values in EUR million unless otherwise specified; figures from the
income statement excluding one-time effects.
(FY 2009/10: EUR -36.5 million; FY 2008/09: EUR -27.6 million & EUR -2.9
million special tax expenses;
Q4 2009/10: EUR 0; Q4 2008/09: EUR -1.9 million & EUR -1.5 million
special tax expenses)

** Financial liabilities - Cash and cash equivalents - Financial assets


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Information and Explaination of the Issuer to this News:

The results and the Excel-format financial statements (not including notes)
for the financial year 2009/10 are posted today at 8 a.m. (CET) under
Investors/Publications on www.ats.net. From 16 June 2010, the 2009/10
Annual Report will also be available there for download.


For more information contact Hans Lang, IRO
Tel: +43 (0)1 68300 9259, e-mail: h.lang@ats.net



11.05.2010 07:28 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at <a href="http://www.dgap-medientreff.de">www.dgap-medientreff.de</a> and <a href="http://www.dgap.de">www.dgap.de</a>

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Language:     English
Company:      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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