PCB |
AT&S post profit in Q3
Third quarter of FY 2009/10 was among the most profitable since FY 2000/01. AT&S posted EBIT of EUR 13.5 million (m) on revenues of EUR 101.2m, for an EBIT margin of 13.4%.
Restructuring at the Leoben-Hinterberg plant and a Group-wide cost reduction programme have substantially
improved the cost base over the past 12 months. Although revenues were down by EUR 15.9m year on year in
the third quarter, EBIT excluding non-recurring items rose by EUR 6.0m compared to the like period of FY
2008/09.
Target of breakeven (EBIT excluding non-recurring items) for the current financial year was exceeded in the
quarter just ended. Underlying EBIT for the first nine months of the current financial year was positive by
EUR 4.8m. EBIT including non-recurring items was negative by EUR 31.8m.
Equity grew from EUR 173.5m to EUR 189.3m in the quarter just ended, resulting in a carrying value per share of
EUR 8.1. Net debt has been cut by EUR 15.5m since the start of FY 2009/10. However, the gearing ratio rose to
83.9%, reflecting the drop in equity due to restructuring expenses and exchange rate effects.
