AT&S

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AT & S Austria Technologie & Systemtechnik Aktiengesellschaft

logo
legal form Corporation
ISIN AT0000969985
founding 1987
Seat Leoben , AustriaAustriaAustria 
management Andreas Gerstenmayer ( CEO )
Number of employees 9981 (2017/18)
sales EUR 992 million (2017/18)
Branch electronics
Website www.ats.net
As of March 31, 2018

The AT & S Austria Technologie & Systemtechnik Aktiengesellschaft shortly AT & S , is a leading PCB manufacturer . Core competencies are in particular printed circuit boards in HDI microvia technology. The AT & S is a major supplier for the mobile communications industry , automotive electronics , industrial electronics , and medical technology .

structure

The Group's headquarters are in Leoben in Styria. AT&S currently has two production facilities for printed circuit boards in Austria (Leoben, Fehring ; until 2013 also Klagenfurt ) and operates other printed circuit board plants in India ( Nanjangud near Mysore ), China ( Shanghai , as well as a plant for IC substrates and mSAP in Chongqing ) and South Korea ( Ansan near Seoul). In addition, there are numerous sales offices worldwide in Germany, Hong Kong, India, Japan, Taiwan and the USA.

Each of AT & S's worldwide plants is focused on a dedicated technology portfolio: The Austrian plants primarily supply the European but increasingly also the American market. Overall, the plants in Austria, India and Korea focus on small and medium-sized series for the industrial and automotive sectors. In China, large series are produced for customers in the field of mobile devices .

Shanghai and Leoben, with their research units, are also key technology drivers within the AT&S Group.

history

1987-1998

The company was founded in 1987 from three sub-companies founded in the 1970s: a Körting Elektronik facility in Fehring, which was previously taken over by Elin in 1979 and was called Steirische Elektronik (television and circuit boards), a subsidiary of Eumig in Fohnsdorf and a facility of Voest Alpine in Leoben , since 1990 with E + E Leiterplattenholding as the parent company. Until it was privatized in November 1994, the company was owned by the state holding company ÖIAG . After the sale to the Androsch / Dörflinger / Zoidl bidding consortium , it was converted into a stock corporation in 1995. In 1998 AT&S put out its feelers internationally for the first time and bought the then Indian-Canadian company Indal Electronics in Nanjangud in the greater Bangalore area in India.

1999-2004

AT&S main building

From 1999 to 2008 AT&S was listed on the Deutsche Börse in Frankfurt am Main , and from 2003 to 2008 it was listed on the TecDAX .

In 2000 the new logistics center was opened in Nörvenich in Germany. It was closed again around 2012. In the same year, the newly built Leoben-Hinterberg II plant was gradually put into operation. In 2001, the AT&S plant in Augsburg , which had been bought by Siemens and a Chinese investor two years earlier , was closed. In 2002 production started in the new plant in Shanghai , PR China . At the same time, AT&S established itself among the top 3 companies in the HDI / Microvia sector worldwide. Since 2002 AT&S has also been a global supplier for Nokia and Siemens. In 2003, the focus was on three business areas: telecommunications , automobiles , industrial and medical technology and the Asia offensive, with the investment in an Indian plant. In 2004, it was decided to build Plant II in Shanghai.

2005-2010

The AT & TACK project started in 2005: customer orientation in the European market, concentration on the areas of medical technology and industrial electronics. This was followed by the specialization of the plants in Fohnsdorf (rigid-flexible printed circuit boards) and Fehring (flexible printed circuit boards) on European niche markets. Willi Dörflinger moved from the executive board to the supervisory board. Harald Sommerer ( CEO ), Steen Hansen ( CFO ) and Heinz Moitzi ( CTO ) became the new board team. In 2006 the second plant was opened in Shanghai and the plant in Fohnsdorf was closed and merged with Leoben (areas HDI and SPP / special products prototypes). The Korean company Tofic Co. Ltd., manufacturer of flexible printed circuit boards, was also acquired. In 2007, the ramp-up of the third AT & S plant in Shanghai. The company was listed on the Frankfurt Stock Exchange until 2008. After a transitional phase with double listings in Frankfurt and Vienna, AT&S is now only listed on the Vienna Stock Exchange . In 2009 there was a new production direction. Since then, Austrian production has concentrated on high-quality niches in the automotive and industrial segment and the plant in Shanghai on the high-end mobile device segment. Production started at Plant II in India in 2010.

2011 until today

The new plant in Chongqing (China) has been under construction since 2011 . This plant was originally planned as another HDI PCB plant, but this plan was changed at the end of 2012 when Intel was won as a new customer in 2013 . Since then, half of the plant has been designed as a production site for IC substrates for desktops and notebooks and the other half for the next generation of technology mSAP (substrate-like circuit boards) in the core business for mobile devices . The installation of the first machines began in February 2014.

At the beginning of 2016, AT&S fulfilled the conditions for admission to the ATX , which took effect on March 21, 2016. In September of the same year, however, the space had to be cleared again for the catering company Do & Co.

The construction of the new plant in Chongqing is divided into two construction phases. After the partial series production of IC substrates had already started in 2016, the first phase was completely completed in June 2017. Since July 2017, IC substrates (plant 1) for server and computing applications ( desktop and notebooks ) for semiconductor customers and the new technology generation mSAP (plant 2) for mobile devices can be produced on two production lines each. After the company decided in 2015 to increase total investments in the Chongqing location from EUR 350 million to around EUR 480 million by 2017, around 510 million euros were invested for this. Due to the ongoing technology evaluation in Plant 1, AT&S decided not to start the expansion in the current 2017/2018 financial year. Another expansion plan for Plant 2 in Chongqing is currently being evaluated. The plant in Chongqing still offers space for two production lines each in plant 1 and 2.

On March 19, 2018, the AT&S share was re-listed in the ATX . The company is therefore among the 20 largest companies listed on the Vienna Stock Exchange in terms of stock exchange turnover and free float capitalization.

Company figures

In the 2017/18 financial year, sales of 991.8 million euros were achieved. The result of ordinary business activities ( EBIT ) was 90.3 million euros and the group result was 56.6 million euros.

The company employs 9,526 people worldwide (as of June 30, 2018).

Key figures for the current 2018/19 financial year

Result according to IFRS Q1 17/18 Q1 18/19 Changes in %
Sales in EUR million 199.6 222.1 + 11.2%
EBITDA in million euros 29.7 52.0 + 75.4%
EBITDA margin 14.9% 23.4% -
EBIT in million euros −3.4 18.3 -
EBIT margin −1.7% 8.3% -
Consolidated earnings in EUR million −11.2 13.5 -

outlook

With the publication of the figures for the first quarter of 2018, the management confirmed a sales growth of up to 6% with an EBITDA margin in the range of 20-23% for the financial year 2018/19. Due to the good development in the first quarter, AT&S expects to reach the upper end of the ranges mentioned at this point in time. The forecast sales for the 2018/19 financial year are therefore up to 1.051 billion euros, which means that an expected EBITDA in the range of 198.4 to 241.8 million euros can be derived.

Annual comparison of key figures from 2007–2018

Result according to IFRS FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18
Sales in EUR million 485.7 449.9 372.2 487.9 514.2 541.7 589.9 667.0 762.9 814.9 991.8
EBITDA in million euros 79.8 52.4 34.5 95.9 103.4 102.4 127.2 167.6 167.5 130.9 226
EBITDA margin 16.4% 11.6% 9.3% 19.7% 20.1% 18.9% 21.6% 25.1% 22.0% 16.1% 22.8%
EBIT in million euros 42.1 −1.1 −25.6 46.5 42.1 31.4 53.9 90.1 77.0 6.6 90.3
EBIT margin 8.7% −0.2% −6.9% 9.5% 8.2% 5.8% 9.1% 13.5% 10.1% 0.8% 9.1%
Consolidated earnings in EUR million 41.3 −5.8 −37.6 35.0 26.5 14.6 38.2 69.3 56.0 −22.9 56.5

Products - business units

AT&S divides its segments into the areas of "Mobile Devices & Substrates", "Automotive, Industrial, Medical" and "Other (including the Advanced Packaging Business Unit)".

The "Mobile Devices & Substrates" segment has a share of around 65% of sales and short product cycles. The portfolio includes IC substrates, HDI anylayer circuit boards, HDI circuit boards and multilayer circuit boards. These products are built into smartphones, wearables, tablets, notebooks, PCs, cameras, smart homes, artificial intelligence devices and game consoles.

The "Automotive, Industrial, Medical" segment has a share of approx. 35% of sales and a longer product cycle. For this purpose, HDI microvia circuit boards, multilayer circuit boards, flexible and semi-flexible circuit boards are installed, which are required in assistance systems for cars or in control solutions for industry.

The smallest segment "Other (including the Advanced Packaging Business Unit)" includes embedded component packaging, which is used, for example, in SSD memory cards.

Customers

From 1992 Nokia was a customer of AT&S. AT&S was also able to win Motorola , Siemens and Sony Ericsson as customers.

The declining sales due to the decline of Nokia were first taken over by RiM and, after its declining sales figures, later by Apple .

The AT&S plants in Shanghai and Chongqing have been among the top 200 global suppliers to Apple since 2008 and 2016, respectively .

In 2015, AT&S also supplied their circuit boards to Fairphone .

Shareholder structure

After a capital increase took place in 2013, the number of shares issued increased to 38.85 million. As part of the capital increase, the world's largest chip manufacturer, Intel, intended to acquire shares worth five million euros.

Main shareholders proportion of
Free float 65.9%
Dörflinger private foundation 17.8%
Androsch private foundation 16.3%

Web links

Commons : AT&S  - collection of images, videos and audio files

Individual evidence

  1. Board of Directors
  2. AT&S: AT&S Annual Report. August 9, 2018, accessed October 22, 2017 .
  3. Die Presse: Printed circuit boards: AT&S doubles investments in China , article from October 21, 2011
  4. AT&S closes Klagenfurt site. In: ats.net. AT&S printed circuit boards, accessed April 21, 2016 .
  5. a b AT&S Worldwide. In: ats.net. AT&S printed circuit boards, accessed April 21, 2016 .
  6. a b AT&S: AT&S Worldwide. Retrieved October 23, 2017 .
  7. a b c d e f g Gerald Reischl: The AT&S Story . Linde International, ISBN 978-3-7093-0620-8 .
  8. a b c d e f g h AT&S: AT&S history. Retrieved October 23, 2017 .
  9. DerStandard.at: AT&S leaves TecDAX. Retrieved October 30, 2017 .
  10. AT&S: AT&S reorganized in Leoben. Retrieved October 23, 2017 .
  11. AT&S: AT&S expands the Chinese Chongqing site with the next generation of high-tech printed circuit boards. Retrieved October 23, 2017 .
  12. AT&S: AT&S is included in the Austrian leading stock exchange index ATX. Retrieved October 23, 2017 .
  13. a b AT&S: Outlook and key figures. Retrieved October 22, 2017 .
  14. AT&S: AT&S expands the Chinese Chongqing site with the next generation of high-tech printed circuit boards. Retrieved October 23, 2017 .
  15. a b AT&S: Company Presentation October 2017. Accessed on October 22, 2017 (English).
  16. AT&S returns to the Austrian leading stock exchange index ATX. Retrieved August 9, 2018 .
  17. AT&S: AT&S Annual Report. August 9, 2018, accessed August 9, 2018 .
  18. a b AT&S: Quarterly Report 1st Quarter 18/19. Retrieved August 9, 2018 .
  19. AT&S: https://ats.net/de/investoren/ausblick-kennzahlen/. Retrieved August 9, 2018 .
  20. AT&S: Annual Report 2018/2019. Retrieved August 9, 2018 .
  21. a b c d e AT&S: Annual Report 2017/2018. Retrieved August 9, 2018 .
  22. AT&S: AT&S receives supplier award from Sony-Ericsson. Retrieved October 23, 2017 .
  23. Apple: Supplier List 2015. Retrieved on October 23, 2017 (English).
  24. Apple: Supplier List 2016. Retrieved on October 23, 2017 (English).
  25. ^ Fairphone: Supplier List. Retrieved October 23, 2017 .
  26. AT&S: The share - basic information. Retrieved October 23, 2017 .
  27. Die Presse: Chip giant Intel joins AT&S. Retrieved October 23, 2017 .