AT&S Announces Results for Second Quarter of Financial Year 2009/10

AT&S has recently announced its results for the second quarter of the financial year 2009/10. They are as follows:

  • The results for the second quarter show a definite upwards trend; sales revenues rose from €25.5 million in July to €27.7 million in August and €34.8 million in September, second-quarter sales were 6% up on the first quarter, and 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
    €4.8 million increase in sales in the second quarter, production costs dropped by €8.0 million compared with the first quarter
  • Equity fell by €11 million in the most recent quarter, mainly as a result of the distribution of dividends and exchange rate effects, to stand at €173.5 million or €7.40 per share, at 30 September 2009
  • Since the beginning of the financial year net debt has fallen by €8.8 million; 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

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