-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
AT&S Reports 28.2% Revenue Increase in H1 2014/15
October 29, 2015 | AT&SEstimated reading time: 6 minutes
Comparison with H1 2014/15:
- Increase in revenue by 28.2% to EUR 387.1 million
- EBITDA at EUR 93.2 million, up 29% on prior year / EBITDA margin improved to 24.1%
- Profit for the period rose by 48.1% to EUR 42.1 million
- Revenue expectations for 2015/16 increased to EUR 740 million
- Set-up of plants in Chongqing, China, proceeds according to plan
- Promissory note loan of EUR 220 million issued
AT&S, one of the global technology leaders for high-end printed circuit boards (PCB), continued its strong growth by 28.2% in the first six months of the financial year 2015/16, thus clearly outperforming the market average, which only just recorded single-digit growth. “We recorded very high demand for high-end PCB solutions in the customer segments in the first six months – clearly a result of our high-end positioning“, says CEO Andreas Gerstenmayer and adds: “The usual seasonality did not occur in these six months. Currency effects had an additional positive impact on revenue growth, while the positive and negative effects of exchange rates on earnings were largely balanced out.”
Gerstenmayer is satisfied with the progress made in Chongqing: “The setting-up of the plant in Chongqing is still proceeding according to plan – we expect certification at the end of this year. It is the kick-off for the gradual launch of serial production at the beginning of next year.” Based on the organic growth in the first half of the year, an expected positive development in the next six months and an expected EUR-USD exchange rate of 1.16, the Management Board increases the outlook for revenues from EUR 725 million to EUR 740 million. In this context Andreas Gerstenmayer again points out that “the expected start-up costs will influence our fourth quarter and, consequently, the result of the full year, which has already been taken into account in our outlook.”
Higher revenue – increase in all earnings categories
In the first six months of the financial year 2015/16, revenue increased by 28.2%, from EUR 302.1 million to EUR 387.1 million. Organic growth amounted to EUR 43.8 million or 14.5%. Exchange rates, which were higher compared to the previous year, contributed EUR 41.2 million or 13.7% to the increase. 73.0% of revenue were not invoiced in euros. The share in revenue of products manufactured in Asia rose to 80.0% (vs. 76.0% in the previous year).
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 29.0% in the first six months, from EUR 72.3 million to EUR 93.2 million. In addition to a very high capacity utilisation in the first half of the year, this was attributable to a good product mix, continuous measures to improve costs and efficiency as well as positive exchange rate effects of EUR 5.8 million. Negative currency effects from euro revenue and the related manufacturing costs denominated in Indian rupees, Korean won and Chinese renminbi, were overcompensated by positive effects of the USD – EUR exchange rate.
The EBITDA margin rose by 0.2 percentage points year-on-year, from 23.9% to 24.1%, thus slightly exceeding the prior year level.
Due to the positive business development, the excellent net finance costs and the low tax rate, profit for the period rose by EUR 13.7 million or 48.1%, from EUR 28.4 million to EUR 42.1 million. This results in an improvement of earnings per share from EUR 0.73 to EUR 1.08.
Page 1 of 3
Suggested Items
Benchmark Reports Q1 2024 Results
05/03/2024 | PRNewswireRevenue decreased quarter over quarter and year over year primarily due to decreases in Medical, Advanced Computing and Next-Generation Communication sales, which were partially offset by an increase in Complex Industrials sales quarter-over-quarter and increases in Semi-Cap and A&D sales year-over-year.
TTM Technologies Reports First Quarter 2024 Results
05/02/2024 | TTM TechnologiesTTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards , reported results for the first quarter 2024, which ended on April 1, 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
Celestica Announces Q1 2024 Financial Results
05/01/2024 | CelesticaCelestica Inc., a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended March 31, 2024 (Q1 2024).
NASA’s Optical Comms Demo Transmits Data Over 140 Million Miles
04/30/2024 | NASA JPLNASA’s Deep Space Optical Communications experiment also interfaced with the Psyche spacecraft’s communication system for the first time, transmitting engineering data to Earth.