PCB | October 21, 2009
AT&S: revenue declined with €62.9 million in 1H/2009
The Austrian PCB manufacturer AT&S reported a revenue decline for the 1H/2009 of €62.9 million. However, the company believes that a 'definite upwards trend' during the fiscal 2Q is encouraging.
Sales revenues rose from €25.5 million (m) in July to €27.7m in August and €34.8m in September. Second-quarter sales were 6% up on the first quarter. All plants were working at full capacity in September. The restructuring and strategic realignment of the Leoben-Hinterberg plant has been successfully completed. Business focused on the needs of European customers has more than doubled year on year, despite the fact that market analyses show that total production in the European printed circuit board industry will shrink by more than half in 2009. Restructuring and a groupwide cost reduction programme have slimmed AT&S’s cost base significantly. Despite a €4.8m increase in sales in the second quarter, production costs dropped by €8.0m compared with the first quarter. Equity fell by €11m in the most recent quarter, mainly as a result of the distribution of dividends and exchange rate effects, to stand at €173.5m or €7.40 per share, at 30 September 2009. Since the beginning of the financial year net debt has fallen by €8.8m. However, the gearing ratio has risen to 95% reflecting the decrease in equity. It seems that the losses of the first quarter can be made up in the course of the financial year 2009/10, a press release states.