© AT&S PCB | August 11, 2020
AT&S with a strong start to the new financial year
Austrian PCB manufacturer is reporting a very stable first quarter. Even though the current pandemic has changed a lot of things on the market and for the company, AT&S was able to compensate the effects on ongoing production at the locations and consequently the economic impact.
“In these turbulent times, marked by economic and market uncertainty, the stability of AT&S’s successful business structure and the excellent market position have become evident. Close cooperation with customers, the focus on high-end technologies and high quality standards prove to be the basis of AT&S’s success,” the company states in a press release. During the company’s first quarter of the new fiscal year, AT&S generated consolidated revenue of EUR 247.9 million, compared to EUR 222.7 million during the same period last year. The broader customer and application portfolio as well as increases in sales volume of IC substrates, mobile devices and in the Industrial segment had a positive impact. Revenue in the Automotive segment however declined due to difficult market conditions broth forth by the pandemic. EBITDA rose from EUR 34.9 million to EUR 39.5 million. The company explains that the increase in earnings is primarily due to the higher consolidated revenue, taking into account that investments in R&D were intensified to prepare for future technology generations and to pursue the modularisation strategy. The EBITDA margin amounted to 15.9% and was therefore at the prior-year level of 15.7%. EBIT improved from EUR -0.6 million to EUR 0.2 million. While the quarter was solid in terms of revenue, the Austrian company did add to its loss recording a first quarter loss of -7.5 million, compared to EUR -6.2 million during the same period last year. Despite the downward revisions of economic forecasts, the global megatrends in the electronics industry are still intact overall – especially due to progressing digitalisation, the new 5G mobile communication standard and massive data volume growth. And AT&S believes themselves to be positioned very well to overcome the crisis.