PCB |
AT&S keeps expanding in Shanghai
The Management for the PCB producer AT&S is assuming that revenues will be around EUR 372m for the financial year 2009/10.
Based on strong customer demand for large volumes of HDI printed circuit boards, AT&S will further expand the production capacities of its Shanghai plant in the current financial year. The respective investments will amount
to about EUR 55m.
Currently, machinery is being installed in the new plant in India so that production can be ramped-up in autumn 2010 to meet the increased demand for double-sided and multilayer PCBs. The relevant investments will amount to around EUR 10m. With additional investments of around EUR 5m in maintenance and investments in new technologies of
around EUR 10m, a total of roughly EUR 80m will be invested in the future growth of AT&S. Around two thirds of that
amount will be spent in the first half of financial year 2010/11. As a consequence of these investments and assuming stable foreign exchange rates, net gearing might be up to 100%.
With the additional capacities in place, revenues in the current financial year 2010/11 are expected to be in the region of
EUR 435m. The EBIT margin should exceed 7%, with profitability significantly higher in the second half of the financial year, i.e. after having ramped-up the new capacities in Asia. The effective tax rate will be approximately 25%.
