2014/15财报： 奥特斯销售额与盈利显著增长，年度业绩喜人 | Preliminary Results 2014/15: AT&S reports exceptionally positive annual results with significant increases in revenue and earnings

财年同比（13/14 与14/15）

• 创纪录的67亿欧元销售额（上涨13.1%）
• 息税折旧及摊销前利润升至676亿欧元，涨幅31.8%
• 息税折旧及摊销前利润率从6%上升至25.1%
• 本财年利润为6930万欧元，上涨5%
• 每股收益：78欧元（13/14财年为1.24欧元）

全球领先的印制电路板（PCBs）制造商奥特斯再次刷新上一财年的业绩。受益于第四季度极其出色的发展势头，2014/15财年业绩显示，奥特斯销售额与盈利再创新高。

奥特斯集团董事会主席葛思迈先生表示：“受益于移动通讯产业尤其是智能手机市场的强劲需求，以及电子元件在汽车产业的比重持续增长，我们公司创下集团有史以来最高的销售记录。”

“产能高利用率，更多的高端产品以及对效率持续的改进，我们实现创纪录的盈利水平，成为全球盈利最为丰厚的印制电路板制造商之一，”葛思迈先生表示。“我们希望未来能够继续保持这一佳绩，新型半导体封装载板业务以及新一代的印制电路板，将会帮助我们进一步挖掘潜力，通过扩建目前在建中的重庆工厂，在高端市场中获得长期的增长。”

资产、财务及盈利状况

2014/15财年销售额上涨13.1%，达6.67亿欧元，几乎没有受到季节性因素影响，而通常第四季度的销售易受中国农历新年以及上海工厂停工期的影响。受益于移动设备及封装载板事业部的良好业务发展，2014/15财年第四季度的业绩远超公司的预期。与上一财年相比，增长源自利好汇率带来的2140万欧元收入，65.1%的销售收入不以欧元结算，公司在亚洲制造的产品在销售总额中占比上升至79%（上一财年为75.9%）。

息税折旧及摊销前利润(EBITDA)增长31.8%，达1.676亿欧元，2013/14财年同期数据为1.272亿欧元。除了持续提高产能利用率，这一增长还得益于更优化的产品结构以及相关的原材料、管理、销售成本方面的改善，同时汇率利好带来560万欧元收益。建设中的重庆半导体封装载板工厂的470万欧元的启动资金投入（13/14财年的投入为490万欧元）对财报期内息税折旧及摊销前利润产生了负面的影响，而去年关闭克拉根福特（Klagenfurt）工厂所耗费的300万欧元也拉低了息税折旧及摊销前利润。

息税折旧及摊销前利润率从上一财年的21.6%升至25.1%。

本财年盈利增长81.5%，达到了史无前例的6930万欧元（2013/14财年为3820万欧元）。尽管流通股数量增加到了3890万股（2013/14财年为3080万股），但每股平均收益依然上涨了0.54欧元，涨幅为43.5%，达到了1.78欧元。

现金流及财务状况

由于盈利状况非常良好，从经营活动产生的现金流显著增长，从1.048亿欧元上升至1.439亿欧元。

由于建设中的重庆工厂以及现有其他工厂的技术投资，公司用于投资的净现金达到了1.648亿欧元（13/14财年为9030万欧元）。

合并股本上涨54.7%，截止2015年3月31日，总计达6.044亿欧元。与2014年3月31日的数据相比，这一增长主要得益于年利润的增加以及极其有利的汇率差带来的1.614亿欧元，这主要受益于下半年人民币、印度卢比以及韩元对欧元汇率的大幅升值。2015年3月31日的权益比率也上升至49.5%（2014年3月31日为42.7%）。

大规模的投资活动使得净负债从2014年3月31日的1.109亿欧元上升至2015年3月31日的1.305亿欧元。由于股本的增加，净负债率下降至21.6%，这一数字大大低于上一财年的28.4%。

奥特斯集团财报数据如下表：

依照国际财务报告准则 以百万欧元计	2014/15财年 01.04.2014-31.03.2015	2013/14财年 01.04.2013-31.03.2014	百分比 %
销售额	667.0	589.9	+ 13.1%
毛利	155.4	118.8	+ 30.8%
息税折旧及摊销前利润	167.6	127.2	+ 31.8%
息税折旧及摊销前利润率(%)	25.1 %	21.6 %	–
息税前利润	90.1	53.9	+ 67.0%
息税前利润率(%)	13.5 %	9.1 %	–
税前利润	84.9	42.8	+ 98.4%
年利润	69.3	38.2	+ 81.5%
流通股每股平均收益（以欧元计）1)	1.78	1.24	+ 43.5%
加权平均流通股数（以千股计）	38,850	30,820	+ 26.1%

¹⁾ 13/14财年加权股数量：30,820,545

移动设备及封装载板事业部销售额及盈利持续走高

在本财报年度内，移动设备及封装载板事业部销售额创历史新高，达4.552亿欧元，与2013/14财年相比，涨幅高达20.3%。

这一增长主要得益于二、三、四季度持续强劲的市场需求、现有的高端产品结构以及汇率利好。息税折旧及摊销前利润增长19.4%,从前一年的1.068亿欧元攀升到1.275亿欧元，息税折旧及摊销前利润率为28.0%，与去年的28.2%基本持平。

工业&汽车（包括医疗业务）事业部盈利能力进一步提升

工业&汽车（包括医疗业务）事业部的销售额在2013/14财年2.729亿欧元的基础上增长了2890万欧元，达到了3.018亿欧元，涨幅达10.6%。汽车电子如先进驾驶辅助系统，以及工业应用如物联网、在线病患监护领域不断增长的需求推动了销售额的增长。由于产能利用率的持续改进以及提效措施的实行，同时没有受到任何负面因素影响，该事业部息税折旧及摊销前利润上涨61.7%，达到了3480万欧元，息税折旧及摊销前利润率也达到11.5%（13/14财年为7.9%）。

重庆工厂将在半导体封装载板的基础上增加新一代印制电路板的制造

以生产半导体封装载板为战略重点的重庆工厂建设正在按计划进行。在2014/15财年，第一条产线已经安装完毕，目前处于设备技术参数设定及资质认证阶段。重庆工厂预计于2016年批量投产，并将于同年实现产品销售。管理层计划在未来数月内完成关于产品结构以及投产计划的研讨。截止2015年3月31日，奥特斯在重庆的投资额已达1.671亿欧元。

在财报期后的2015年4 月28日，奥特斯宣布增资扩建重庆工厂，截止至2017年中，投资额从原先的3.5亿欧元增至约4.8亿欧元。奥特斯目标指向下一代印制电路板，从2016年起重庆工厂将会在半导体封装载板的基础上增加系统级封装印制电路板的制造。奥特斯从行业微型化和模块化的趋势中挖掘潜能，确保长期盈利增长。

2015/16财年展望

只要宏观经济环境稳定以及客户需求持续，管理层预计奥特斯将保持良好的产能利用率。基于当前产能，公司对销售额的预期与2014/15财年持平。考虑到重庆工厂投产的启动成本，息税折旧及摊销前利润率预计为18-20%。相较而言，核心业务的息税折旧及摊销前利润率将会与2014/15财年维持在同一水平线上。

奥地利科技与系统技术股份公司——旨在成为先进技术应用的首选供应商

奥地利科技与系统技术股份公司（AT&S）简称奥特斯，是欧洲以及全球领先的高端印制电路板制造商。集团致力于生产具有前瞻性技术的产品，并将工业领域的核心市场定位于：移动设备、汽车和航天、工业电子、医疗与健康以及先进封装领域。2013年集团迈出了其高科技战略的下一步行动，与全球领先的半导体生产商合作开发半导体封装载板。作为一家飞速发展的跨国公司，AT&S 分别在奥地利（利奥本、菲岭）、印度（南燕古德）、中国（上海、重庆在建））和韩国（安山）拥有生产基地。目前集团拥有员工约8,500人。

更多资讯，请浏览公司网站www.ats.net。

媒体联络人：

Elke Koch, 投资者关系&传播总监

奥特斯科技与系统技术股份公司

电话：+43 3842 200-5925; 手机：+43 676 8955 5925; 邮箱：e.koch@ats.net, www.ats.net

姜晓青

企业事务与公共事务总监

奥特斯(中国)有限公司

电话：+86 21 2408 0108；邮箱： korie.jiang@ats.net, www.ats.net

Year on year comparison (13/14 vs. 14/15):

• Record revenue of EUR 667.0 million (+ 13.1%)
• EBITDA up 31.8% to EUR 167.6 million
• EBITDA margin improves from 21.6% to 25.1%
• Profit for the year grows by 81.5% to EUR 69.3 million
• Earnings per share: EUR 1.78 (vs. EUR 1.24 in FY 13/14)

 

The leading manufacturer of printed circuit boards (PCBs) again significantly exceeded the very positive business development of the previous year, based on the extraordinary positive development of the fourth quarter, presenting a new all-time high in revenue and earnings in the preliminary results for financial year 2014/15.

“We saw a disproportional high benefit from the strong growth in the area of mobile devices, especially smartphones, and from the constantly increasing share of electronics in the automotive sector throughout the year. This led to the highest revenue in the company’s history to date“, says Andreas Gerstenmayer, Chairman of the Management Board of AT&S AG.

“Based on very high capacity utilisation, more high-end products and continuous measures to improve efficiency, we increased our high profitability level further. Therefore, we are one of the world’s most profitable manufacturers of printed circuit boards“, Gerstenmayer adds. “That’s what we want to maintain, also in the future: with a new generation of printed circuit boards in addition to the new business segment IC substrates, we will tap further potential for long-term growth in the high-end segment by expanding our site in Chongqing, China, which is currently under construction.“

Development of the asset, financial and earnings position

Revenue was increased by 13.1% to EUR 667.0 million in the past financial year and showed extraordinary few seasonal effects: especially revenue in the fourth quarter, which is usually affected by the Chinese New Year and temporary production downtimes at the plant in Shanghai, significantly exceeded the company’s own expectations due to the continuously positive development in the segment Mobile Devices & Substrates. The increase in revenue compared to the previous year includes positive currency effects of EUR 21.4 million. 65.1% of revenue was not invoiced in euro. The contribution of products manufactured in Asia to revenue rose to 79.0% (vs. 75.9% in the previous year).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 31.8% to EUR 167.6 million, compared with EUR 127.2 million in the financial year 2013/14. In addition to the continued high capacity utilisation, this was primarily attributable to further improvements in product mix, improvements in material, administration and distribution costs in relation to revenue as well as positive currency translation effects amounting to EUR 5.6 million. In the reporting period EBITDA was adversely affected by start-up costs of EUR 4.7 million for the new IC substrate facility in Chongqing (FY 13/14: EUR 4.9 million). In the previous year, EBITDA had been additionally burdened by costs of EUR 3.0 million related to the closure of the site in Klagenfurt.
The EBITDA margin rose from 21.6% in the previous year to 25.1%.

Profit for the period, at EUR 69.3 million and an increase by 81.5%, reached a new peak level (FY 2013/14: EUR 38.2 million). Earnings per share rose by EUR 0.54, or 43.5%, to EUR 1.78 although the average number of shares outstanding increased and totalled 38.9 million shares (FY 2013/14: weighted 30.8 million shares).

Cash flow and statement of financial position

Based on the very positive earnings development, a significant increase in cash flow from operating activities from EUR 104.8 million to EUR 143.9 million was accomplished.
Net cash used in investing activities rose to EUR 164.8 million (FY 13/14: EUR 90.3 million) because of the Chongqing plant, which is currently under construction, and technology investments at other sites.

Consolidated equity rose by 54.7% and amounted to EUR 604.4 million at 31 March 2015. This increase compared with 31 March 2014 is attributable to both the increase in profit for the year and the above-average positive currency differences of EUR 161.4 million, which primarily resulted from a massive strengthening of the Chinese renminbi, the Indian rupee and the South Korean won against the euro in the second half of the year. The equity ratio at 31 March 2015 improved to 49.5%, versus 42.7% at 31 March 2014.

Net debt rose from EUR 110.9 million at 31 March 2014 to EUR 130.5 million at 31 March 2015. This increase is based on the high level of investment activities. The net gearing ratio declined to 21.6% due to the increase in equity and was thus substantially lower than the level of 28.4% in the previous year.

The figures in detail:

According to IFRS; in EUR million	FY 2014/15 01.04.2014-31.03.2015	FY 2013/14 01.04.2013-31.03.2014	Change in %
Revenue	667.0	589.9	+ 13.1%
Gross profit	155.4	118.8	+ 30.8%
EBITDA	167.6	127.2	+ 31.8%
EBITDA margin (in %)	25.1 %	21.6 %	–
EBIT	90.1	53.9	+ 67.0%
EBIT margin (in %)	13.5 %	9.1 %	–
Profit before tax	84.9	42.8	+ 98.4%
Profit for the year	69.3	38.2	+ 81.5%
Earnings per average number of shares outstanding (in EUR)1)	1.78	1.24	+ 43.5%
Weighted average number of shares outstanding (in 1,000 units)	38,850	30,820	+ 26.1%

¹⁾ Number of weighted shares in FY 13/14: 30,820,545

Business Unit Mobile Devices & Substrates with continued revenue and earnings growth at high level

In the Business Unit Mobile Devices & Substrates, AT&S recorded revenue of EUR 455.2 million in the reporting year, which corresponds to an increase by 20.3% compared with the financial year 2013/14.

This development is primarily attributable to the continued strong demand in the second, third and fourth quarters, with a concurrent high-end product mix and positive currency translation effects. EBITDA, at EUR 127.5 million, exceeded the prior-year figure of EUR 106.8 million by 19.4%. The EBITDA margin, at 28.0%, remained similar to the level of the previous year (28.2%).

Business Unit Industrial & Automotive (incl. Medical) with further improvement in profitability

With an increase in revenue by EUR 28.9 million to EUR 301.8 million (FY 2013/14: EUR 272.9 million), the Business Unit Industrial & Automotive (incl. Medical) achieved growth of 10.6%. The positive development was predominantly based on the ongoing growing demand for electronic components in cars, for example for Advanced Driver Assistance Systems, but also for applications in industry, for example for machine-to-machine communication or in online patient monitoring. As capacity utilisation continued to improve, efficiency-enhancing measures were implemented and there were no negative one-off effects, EBITDA rose by 61.7% to EUR 34.8 million. The EBITDA margin improved to 11.5% (FY 13/14: 7.9%).

Chongqing site will be extended by new generation of printed circuit boards in addition to IC substrates

The set-up of the plant in Chongqing, with a strategic focus on the production of IC substrates (Integrated Circuit Substrates), is proceeding according to plan. In the financial year 2014/15 the first production line was installed and the equipment characterisation and certification were started and continued. The ramp-up will be started in the calendar year 2016; first revenues are also expected for the calendar year 2016. Negotiations regarding the product mix and ramp scenarios are currently underway. The Management Board expects the talks to be completed in the coming months. At 31 March 2015, AT&S EUR invested EUR 167.1 million in Chongqing.
After the reporting date, on 28 April 2015, AT&S announced the expansion of the Chongqing site with investments of EUR 350 million to roughly EUR 480 million by mid-2017. AT&S is positioning itself for the next generation of printed circuit boards and will manufacture substrate-like printed circuit boards in Chongqing in addition to IC substrates starting in 2016. AT&S will thus tap the potential arising from progressing miniaturisation and increasing modularisation in order to secure profitable growth in the long term.

Outlook for the financial year 2015/16
The management expects ongoing good capacity utilisation provided that the macroeconomic environment remains stable and customer demand continues. On the basis of limited availability of capacities, a development of revenue similar to the financial year 2014/15 is forecast. The EBITDA margin will be in the range of 18-20% based on the start-up costs to be expected in the context of the ramp-up in Chongqing; in contrast, the EBITDA margin in the core business will remain at a level comparable to the financial year 2014/15.

 

AT & S Austria Technologie & Systemtechnik AG – First choice for advanced applications

AT&S is the European market leader and one of the globally leading manufacturers of high-value printed circuit boards. AT&S industrialises leading-edge technologies for its core business segments Mobile Devices, Automotive & Aviation, Industrial Electronics, Medical & Healthcare, and Advanced Packaging. In 2013, AT&S took the next logical step in the high-tech strategy by entering the IC substrate business in cooperation with a leading global semiconductor manufacturer. As an international growth enterprise, AT&S has a global presence, with production facilities in Austria (Leoben and Fehring) and plants in India (Nanjangud), China (Shanghai, Chongqing under construction) and Korea (Ansan, near Seoul). The company currently employs about 8,500 people. For more information: www.ats.net

 

Press contact:

Elke Koch, Director Investor Relations & Communications

AT&S Austria Technologie & Systemtechnik AG

Tel: +43 3842 200-5925; Mobil: +43 676 8955 5925; e.koch@ats.net, www.ats.net