© AT&S PCB | May 14, 2020
AT&S: revenue exceeds the one-billion-euro mark again
The Austrian PCB manufacturer made solid business developments during its financial year – this despite the US – China trade conflict, Brexit and COVID-19.
AT&S delivered solid results for the financial year 2019/20 despite a challenging operating environment. Globally the past financial year was heavily influenced by a significant slowdown of the economy and the outbreak of the COVID-19 pandemic. While the company was successful at reducing the effects of the COVID-19 outbreak on the ongoing production activity to a minimum at all locations, the economic implications could not be fully avoided. On the market side, it was above all a change in product mix in the Mobile Devices segment and the declining demand in the Industrial segment that had an impact on earnings. The increase in sales volume of IC substrates and in the Medical & Healthcare segment generated a positive effect. Consolidated revenue again exceeded the one-billion-euro mark for the company, however declined slightly by 2.7% year-on-year to EUR 1,000.6 million (previous year: EUR 1,028.0 million). The catch-up effects expected for the fourth quarter failed to occur after the outbreak of the COVID-19 pandemic. EBITDA, at EUR 194.5 million, was lower than in the previous year at EUR 250.1 million. The EBITDA margin declined to 19.4% (previous year: 24.3%) and was within the target range of 18% to 20%, which had been adjusted in the third quarter. EBIT dropped to EUR 47.4 million (previous year: EUR 117.2 million). The EBIT margin amounted to 4.7% (previous year: 11.4%).