AT&S First choice for advanced applications - Investor and Analyst Presentation September 2019
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AT&S
First choice for advanced applications
Investor and Analyst Presentation
September 2019
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
www.ats.net
Table of Contents
Company Overview
Financials
Market Update & Outlook
Annex
Investor and Analyst Presentation 1
Company Overview
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
Investor and Analyst Presentation www.ats.net 2
AT&S – a world leading high-tech PCB & IC substrates company
Outperforming
High-end interconnect solutions
for market growth
Mobile Devices, Automotive, Industrial,
Medical Applications and Semiconductor
over the last
decade
#1
Industry high-end PCB producer
worldwide*
Among the top € 1bn
PCB producers revenue in
worldwide FY 2018/19 Efficient global production
footprint with
6
~ 10,000 plants in Europe and Asia
Employees**
* For CY 2018
Source: Prismark
** For AT&S FY 2018/19
Investor and Analyst Presentation 3
Investment highlights
Leading provider of high-end technologies and applications
• Highly advanced position in miniaturisation and modularisation
• Technology advantage at mSAP due to timely extension of the IC substrates technology
Long-standing customer relationships with technology and market leaders
Market outperformance and high profitability
• AT&S has constantly outperformed the PCB and substrates market over the last years
• EBITDA margin of 20 – 25% above industry average
• Strong cash flow generation and therefore improved internal financing capabilities
Successful industrialisation of leading-edge technologies combined with highest quality
• Outstanding process know-how, productivity and efficiency
Solid balance sheet with strengthened equity ratio of 45.0% in 2018/19
• Attractive dividend policy
Investor and Analyst Presentation 4
Market Segments & Product Applications
Computer,
Communications, IC substrates Automotive Industrial Medical
Consumer Appliances
Smartphones, Tablets, High Performance Advanced Driver Machine-2-Machine Patient
Wearables, Ultrabooks, Computer, Microserver Assistance Systems, Communication, Monitoring, Hearing Aids,
Cameras Emergency-Call, X2X Robots, Industrial Pacemaker,
Communication Computer, Neurostimulation, Drug
X2X Communication Delivery, Prosthesis
Segment Mobile Devices & Substrates Segment Automotive, Industrial, Medical
Investor and Analyst Presentation 5
AT&S – Key Facts
1 Strong growth track record 2 Balanced portfolio/Global customer base
Revenue split by segment: Q1 2019/20**
992 1,028
815
763 35% (38%)
667 +4% Mobile Devices & Substrates
+22%
+7% 65 (62%)
Automotive, Industrial,
+14%
Medical
226 250 221 +0.3% 223
168 168
90 131* 90 117 52
Revenue split by customer: Q1 2019/20**
77* 35 (based on customer’s headquarters)
7* 18
(1) 9% (8%)
2014/15 2015/16 2016/17 2017/18 2018/19 Q1 Q1
7% (8%)
2018/19 2019/20
Americas
Revenue EBITDA EBIT Revenue growth 18% (23%)
7% Germany/Austria
66% (61%)
Asia
€ in millions
*Based on ramp-up effects for new plants in China Other European countries
6
** Figures in parentheses refer to same period last year
Investor and Analyst Presentation 6
Global footprint ensures proximity
to supply chain & cost efficiency
AT&S plant
AT&S sales support office
AT&S Headquarters
988* 396* 1,282* 2,456* 4,501* 269*
Leoben, Headquarters Fehring Nanjangud Chongqing Shanghai Ansan
Austria Austria India China China Korea
*Staff, Average, FTE, Q1 2019/20; 74 employees in other locations
Investor and Analyst Presentation 7
Strategic focus on high-end technologies
AT&S Revenue structure in FY 2018/19 – based on technologies
High-end technology share > 75%
HDI and any-layer PCBs,
Embedding, IC Substrates
High-end
HDI PCBs and
IC substrates
~ 30%
Complementary technology
share: < 25%
SS, DS, ML,
Single-sided (SS), double-sided (DS), multilayer- (ML),
Flex, RF
flex and rigid-flex (RF) PCBs
~ 70%
Structure of general PCB market – based on technologies
Source: Prismark, AT&S
Investor and Analyst Presentation 8
Driving future trends
Medium-term guidance
Expansion of technology leadership
• Leading provider of new interconnect solutions
• Innovation revenue rate: > 20%
Technology development to modul integration and capacitiy expansion
• Revenue target of € 2 billion (around 15% CAGR)
“First choice • Continuation of continuous and sustainable margin improvement
for advanced
applications” • Medium-term EBITDA margin target of 25-30%
Creation of shareholder value
• Medium-term ROCE above 12%
Sustainable management
• Fulfill and further develop standards in the areas environment, health & safety,
ethics, work conditions and quality
Investor and Analyst Presentation 9Market players in the high-end segment
Market position HDI Technology (2018)
HDI
Rank Supplier Country/Region mSAP IC Substrates
(revenue in USD millions)
1 AT&S AUT 838
2 Unimicron TWN 799
3 Compeq TWN 779
4 TTM USA 681
5 Meiko JPN 472
6 Tripod TWN 443
7 Zhen Ding TWN 349
8 DAP KOR 276
9 CMK JPN 259
10 SEMCO KOR 245
Source: Prismark
Investor and Analyst Presentation 10R&D as the key for technological leadership
7.4%
R&D Quota
(equivalent to € 75.7 million)
279
Patents
International International
R&D Partners R&D Partners
R&D 35.3%
Headquarters Innovation Revenue Rate *
Austria
Industrialization at the respective
production site
As of FY 2018/19
* Revenue generated with products with new, innovative technologies introduced to the market within the last three years
Investor and Analyst Presentation 11Financials
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
Investor and Analyst Presentation www.ats.net 12Highlights in Q1 2019/20
Solid quarter despite strong seasonality and challenging environment
Revenue flat at € 222.7 million
− Diversified product, technology and customer portfolio supported to compensate for market fluctuations
− Strong demand for IC substrates
− Robust development of Medical & Healthcare
− Demand in Mobile Devices and Industrial subdued
EBITDA lower at € 34.9 million
− Previous year period was impacted by positive product mix
− Due to challenging market environment
• Strong saisonality in Mobile Devices as well as market-related underutilization
• Weaker demand in Automotive and Industrial
• Lower manufactured value due to saisonality and visibility
− As preparation for future applications higher R&D expenses (run-up costs for modularization, miniaturization and future applications)
− EBITDA margin at 15.7% (PY: 23.4%)
EBIT at € (0.6) million in line with EBITDA
Investor and Analyst Presentation 13 13Revenue and EBITDA development
Revenue and EBITDA impacted by seasonality and market environment
Revenue split by segment: Q1 2019/20
294.8
273.3
35%
237.9 Mobile Devices & Substrates
222.1 222.7
65%
Automotive, Industrial,
Medical
Revenue split by region*: Q1 2019/20
9%
86.3 82.2 7%
Americas
52.0 18%
34.9 Germany/Austria
29.6
66% Asia
23.4% 29.3% 30.1% 12.5% 15.7% Other European countries
Q1 2018/19 Q2 2018/19 Q3 2018/19 Q4 2018/19 Q1 2019/20
€ in millions Revenue EBITDA and margin *based on customer’s headquarters 14
Investor and Analyst Presentation 14 14Business Development – Mobile Devices & Substrates
€ in millions (unless IC substrate continued to grow due to higher
Q1 2018/19 Q1 2019/20 Change in %
otherwise indicated) value portfolio and rising sales volume
Revenue 160.2 166.4 3.9% Due to stronger seasonality lower demand
Revenue with external for Mobile devices and market-related
customers 137.8 143.8 4.4%
underutilization
EBITDA 39.3 23.8 -39.5%
EBITDA margin
Unfavorable product mix and low visibility
24.5% 14.3%
impacted first quarter earnings
Revenue* and EBITDA
208.9
186.5
150.6 143.8
137.8
71.9 66.1
39.3
16.3 23.8
Q1 2018/19 Q2 2018/19 Q3 2018/19 Q4 2018/19 Q1 2019/20
Revenue EBITDA
€ in millions; * Revenue with external customers
Investor and Analyst Presentation 15Business Development – Automotive, Industrial, Medical
€ in millions (unless
Q1 2018/19 Q1 2019/20 Change in % Medical & Healthcare continued to show
otherwise indicated)
Revenue
good demand
89.6 88.1 -1.7%
Revenue with external Weaker market-related demand in Industrial
customers 83.3 78.9 -5.2%
Overall challenging market environment in
EBITDA 12.0 10.9 -9.2% Automotive
EBITDA margin 13.4% 12.4%
Revenue* and EBITDA
83.3 84.3 85.0 86.2
78.9
12.0 12.4 13.9 14.4 10.9
Q1 2018/19 Q2 2018/19 Q3 2018/19 Q4 2018/19 Q1 2019/20
Revenue EBITDA
€ in millions; * Revenue with external customers
Investor and Analyst Presentation 16Financials Q1 2019/20
STATEMENT OF PROFIT OR LOSS
Change
€ in thousands Q1 2018/19 Q1 2019/20
YoY
Revenue 222,081 222,739 0.3% Supported by IC substrates and Medical & Healthcare
EBITDA 51,996 34,905 (32.9%) Unfavourable product mix, lower manufactured
value and R&D costs for future applications
EBITDA margin 23.4% 15.7% (7.7pp)
EBIT 18,323 (562) (>100%)
EBIT margin 8.3% (0.3%) (8.6pp)
Finance costs – net 1,703 (1,739) (>100%) Lower due to FX effects
Profit for the period 13,549 (6,204) (>100%)
Earnings per share € 0.30 (€ 0.20) (>100%)
Investor and Analyst Presentation 17Financials Q1 2019/20 STATEMENT OF FINANCIAL POSITION € in thousands 31 Mar 2019 30 Jun 2019 Change Equity 803,451 759,304 (5.5%) Negative FX effects and lower earnings Total assets 1,784,106 1,774,855 (0.5%) Net debt 150,258 208,626 38.8% Higher capex and impact of IFRS 16 Net working capital 160,537 156,608 (2.4%) Equity ratio 45.0% 42.8% (2.2pp) Investor and Analyst Presentation 18
Financials Q1 2019/20
STATEMENT OF CASH FLOWS
Change
€ in thousands Q1 2018/19 Q1 2019/20
YoY
Cash flow from operating activities 4,585 28, 505 >100% Mainly due to increase in trade payables
Cash flow from investing activities (21,614) (63,745) (>100%) Higher net capex main driver
Cash flow from financing activities 1,230 (2,710) (>100%)
Change in cash and cash equivalents (15,799) (37,950) (>100%)
Operating free cash flow1) (12,497) (21,173) (69.4%) Result of higher net capex
Free cash flow2) (17,029) (35,240) (>100%)
1) Cash flow from operating activities minus Net CAPEX
2) Cash flow from operating activities minus cash flow from investing activities
Investor and Analyst Presentation 19Net CAPEX
Investment in IC substrates capacity main trigger for YoY growth
254.3
240.7
164.8
141.7
100.8
49.7
17.1
2014/15 2015/16 2016/17 2017/18 2018/19 Q1 2018/19 Q1 2019/20
€ in millions
Investor and Analyst Presentation 20Market Update &
Outlook
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
Investor and Analyst Presentation www.ats.net 21Growth opportunities in all segments
Focus on high-end applications
Communication Consumer / Computer Automotive Industrial / Medical
Increased digital New applications Autonomous driving Automation
networking (IoT) (smartwatch, speakers, RADAR, LiDAR, camera Machine-to-machine
Additional functionality robots, VR, …) 5G communication (5G)
Edge & cloud computing Artificial Intelligence
5G Artificial Intelligence
Networking Electrification of the drive
Artificial Intelligence Mobile therapy and
Increasing electronics share
Big data / data server per vehicle diagnostic devices
High end market growth ~10% CAGR (until 2024)
Investor and Analyst Presentation 22 22PCB & IC substrates market – Overview
Forecast for the total PCB & IC substrates market IC substrates
until 2024: CAGR of 5.6%
− Networking and AI processors trigger demand for high-value IC
substrates
− Cloud computing drives data center expansions
− Increase in server demand
− Processor heterogeneous integration drives further increase in IC
substrate unit size and the number of substrate layers
Automotive
− Despite a temporary slowdown, future growth is strongly driven by
autonomous driving (e.g. RADAR, LIDAR, cameras, …), “Vehicle-to-X”
communication modules and power module PCBs for electrification
Consumer
− Wireless connectivity of smart devices enabling IoT drives need for
high-end PCBs and substrates for module applications
Communication
− Despite a flat development in 2019 smartphone unit sales, high-end
PCB demand for mainboards and modules will grow due to additional
functionalities like 5G, AI and sensors
− 5G infrastructure will increase demand PCBs and substrates for
mainboards as well as modules
$ in billions
Source: Prismark, June 2019; Yole, May 2019
Investor and Analyst Presentation 23 23Investment in
the future of AT&S
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
Investor and Analyst Presentation www.ats.net 24AT&S initiates next growth step
IC substrates business becomes an even more important pillar
Required performance of future high-performance computing modules drives the
technological demands on all components of the modules including IC substrates
Production of IC substrates for high-performance computing modules
− Construction of a new plant in Chongqing and expansion of the location in Leoben
Close cooperation with a leading semiconductor player
− will drive future technology development and implementation
− should support mitigating the investment risk
Investment volume of up to one billion euro planned for the next five years
Start of production in the new plant in Chongqing end of 2021
Investor and Analyst Presentation 25 25Drivers behind the investment
Globally generated data grow by more than 30% p.a. until 2025
Explosive growth of data
Smart applications and devices with an increasing number of low cost sensors
Decreasing storage costs per Giga Byte due to memory technology advances
Data sharing (entertainment, office and production automation) enabled by higher data rates, bandwidth (3G 4G 5G)
Autonomous driving generates a flood of data due to necessary applications like RADAR, LIDAR…
Artificial Intelligence introduces machine learning for more efficient data processing and
automation and requires further dedicated „AI processors“ IC substrates for
AI / self driving car
IC substrates 10-20 layers
for PC,
server
IC substrates 4-6 layers
for mobile
2-4 layers
Investor and Analyst Presentation 26AT&S operating successfully in China Industry best-in-class for ramping new technologies and facilities Since 2001 plant in Shanghai for high-end HDI Since 2013 site in Chongqing with two plants for IC substrates and new technologies First high-end IC substrates manufacturer in China SLP main trigger for becoming No 1 at high-end PCBs ~7,000 employees in China Investor and Analyst Presentation 27
New plant in Chongqing
One of the most modern IC Substrate plants in the world
Manufacturing floors space of 65,000 m2 (equals nine football pitches)
IC substrates for HPC modules demand clean environment
− Fulfills highest design standards to guarantee necessary product quality
− High portion of cleanroom level of semiconductor production
− Any vibration (from machines, humans…) must be avoided
− Special building construction
Respective substrates panel show 30 million laser drilled holes
Hair
− Structure is reduced to 3µm (a hair ~80µm)
Investor and Analyst Presentation 28Securing profitable growth in tomorrow
Medium-term guidance
Step towards module integration and “More than AT&S”
− Group revenue to double to € 2 billion (CAGR of roughly 15%)
− EBITDA margin of 25% to 30%
− ROCE target above 12%
Significant financing capabilities and solid finance structure to manage the investment
− Strong operating cashflows
− High level of existing liquid funds (e.g. promissory note loan)
− Continuous optimization of financing structure
Investor and Analyst Presentation 29More than AT&S
Broadening the service range and opening up of new business opportunities
Leading
provider of
interconnect
Technology solutions
Innovation power
Module integration
Clear focus on dedicated applications
services
Build-up of additional
capabilities
Substrates for HPC
modules
Diversification of
PCBs/substrates application and
for modules customer portfolio
mSAP / SLP High growth
potential
IC substrates Technology leader
Printed circuit boards
One of the leading
Leading producer of high- producers
end PCB
Investor and Analyst Presentation 30Outlook for 2019/20
Revenues and EBITDA outlook continues to be confirmed
Volatile and currently weaker market environment for mobile devices, in the Automotive and Industrial
segment causes low visibility
On an annual basis the Management Board expects revenue to remain stable and an EBITDA margin in the
range of 20 to 25%
Investment (CAPEX) activity in the current financial year
− Maintenance investments and minor technology upgrades in the amount of € 80 to 100 million
− Depending on the market development, an additional € 100 million for capacity and technology expansions
− Investments in IC substrates increase from € 80 million up to € 180 million
Investor and Analyst Presentation 31Annex
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse 13 | A-8700 Leoben
Tel +43 (0) 3842 200-0
Investor and Analyst Presentation www.ats.net 32AT&S – Stock Profile
Listing: Vienna Stock Exchange, # of shares outstanding 38.85m
Prime Standard Average daily volume*: ~ 90,000 shares
Indices: ATX, Vönix, WBI Dividend for 2018/19: € 0.60 per share
Thomson Reuters (A): ATSV.VI
Bloomberg (A): ATS:AV
* 01/09/2018 – 31/08/2019
Financial Calendar Shareholder structure
Publication of the first half-year 2019/20 07 November 2019
Publication of the first nine months 2019/20 04 February 2020
Preliminary results 2019/20 14 May 2020
Investor and Analyst Presentation 33Supply chain in the electronics industry
New business opportunities through entry into the module market
Module Design Chip Chip Assembly PCB Substrate Product/ Product
Manufacturing & Test Manufacturing Manufacturing Module Ownership
(Front-end) (Back-end) Assembly
Design
03 Module Integration Service Provider
houses
02
OEMs
Module Board Manufacturer (SLP)
Fab-less
01 01
OSATs ODM/EMS/
Wafer Foundries OEMs
IC Players OSATs
PCB Substrate
Investor and Analyst Presentation 34 34Headcount
Capacity extensions require more staff
9,872 10,057 9,965
9,598 9,718
Q1 2018/19 Q2 2018/19 Q3 2018/19 Q4 2018/19 Q1 2019/20
* incl. contractors, FTE, average for the period
Investor and Analyst Presentation 35Key credit figures
Gross debt, financial assets and cash, net debt Net debt/EBITDA
717
593
523 540
2.9
567
405
372 381
263 1.6
331
274 260
261 0.9
131 212 0.8
111 209 0.6
150
2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2014/15 2015/16 2016/17 2017/18 2018/19
Gross debt Financial assets and cash Net debt
€ in millions Multiple
Net debt decrease results from positive operating Target: < 3x
free cash flow
Investor and Analyst Presentation 36AT&S Product Portfolio – I
ECP®: IC substrates Substrate-like printed circuit boards
Embedded Component Packaging mSAP
Embedded Component Packaging allows to embed IC substrates serve as interconnection platform with Substrate-like PCBs (mSAP technology) are the next
active/passive components (e.g. wafer level dies) within higher density (Line/Space < 15 micron) between evolution of high-end HDI PCBs with higher density:
the layers of a PCB – contributes to miniaturization. semiconductors (Chips) & PCBs . Line/Space < 30 micron.
Production site
Leoben, Shanghai Chongqing Chongqing, Shanghai
Applications
Devices such as smartphones, tablets, digital High-end processors for Mobile applications like smartphones
cameras and hearing aids Computer, Communication, Automotive, Industrial
Investor and Analyst Presentation 37AT&S Product Portfolio – II
HDI HDI microvia printed Multilayer printed circuit Double-sided printed IMS printed circuit boards
any-layer printed circuit circuit boards – high boards circuit boards – insulated metal
boards density interconnect substrate
Further technological HDI: high density interconnect, Found in almost every area of Used in all areas of electronics. IMS: insulated metal substrate.
enhancement to HDI microvia: meaning industrial electronics. AT&S AT&S focuses on double-sided Primary function: heat
All electrical connections in HDI laser-drilled connections produces printed circuit boards printed circuit boards with dissipation for use mainly with
any-layer boards consist of laser- (microvias). HDI is first step with 4 to 28 layers, in quantities thicknesses in the range of 0.1- LEDs and power components.
drilled microvias. Advantage: towards miniaturization. from individual prototypes to 3.2mm.
further miniaturization, and AT&S can produce 4-layer small batches and mass
higher performance and laser PCBs up to 6-n-6 production.
reliability. AT&S produces HDI HDI multi layer PCBs.
any-layer in 4 to 12 layers.
Production site
Shanghai Shanghai, Leoben Leoben, Nanjangud, Fehring Fehring, Nanjangud Fehring
Applications
Smartphones, Tablets, Mobile phones and nearly all Used in all electronic Primarily industrial and Lighting industry
Notebooks electronic applications including applications including touch automotive applications
automotive (navigation, panels, and in products ranging
infotainment and driver from aircraft to motorcycles,
assistance systems) from storage power plants to
solar arrays
Investor and Analyst Presentation 38AT&S Product Portfolio – III
Flexible printed Semi-flexible printed Rigid-flex printed Flexible printed circuit AT&S patented
circuit boards circuit boards circuit boards boards on aluminum technologies
ECP®: Embedded
Component Packaging
ECP® is a patented AT&S packaging
technology used to embed active
and passive electronic components
in the inner layers of a printed circuit
board. ECP® technology is used in
ever smaller, more efficient and
Used to replace wiring and More limited bend radius than Combine the Used when installing LEDs more powerful devices, such as
connectors, allowing for flexible printed circuit advantages of flexible in car headlights, for smartphones, tablets, digital
connections and geometries that boards. The use of a and rigid printed circuit example, where the cameras and hearing aids.
are not possible with rigid standard thin laminate boards, yielding benefits printed circuit board is Production sites: Leoben, Shanghai
printed circuit boards. makes them a cost-effective for signal transmission, bonded to an aluminum
alternative. size and stability. heat sink to which the
2.5D® Technology
LEDs are then attached.
Platform
Combines mechanical and electronic
miniaturization, and enables partial
Production site reduction of the thickness of a
Ansan, Fehring Fehring Ansan Ansan circuit board. Advantage: populated
assemblies have a thinner profile.
Can be also used to make cavities in
Applications the printed circuit board, e.g. for
Nearly all areas of Automotive applications Industrial electronics, Lighting, automotive, acoustic channels. Major application
electronics, including such as production building lighting for this technology is the 2.5D® rigid-
measuring devices and machines and industrial flex printed circuit board, a lower
medical applications robots cost alternative for flex-to install
applications.
Production sites: Leoben, Shanghai
Investor and Analyst Presentation 39Management
Andreas Gerstenmayer, CEO Monika Stoisser-Göhring, CFO Heinz Moitzi, COO
Joined AT&S as CEO in 2010 CFO since 2017 COO since 2005
Previous positions include: Previous positions include: With AT&S since 19811)
− 18 years of work experience at Siemens, − Since 2011 with AT&S in senior Previous positions include:
including Managing Director with positions in Finance and Human − Various management positions
Siemens Transportation Systems GmbH Resources within AT&S
Austria and CEO of the Drive Technology − Various positions at international − Measurement engineer with Leoben
business unit in Graz from 2003 to 2008 accounting and tax consulting University of Mining and Metallurgy
− Partner at FOCUSON Business companies Education:
Consulting GmbH after leaving Siemens Education: − Degree from Higher Technical
Education: − Certified Tax Consultant College of Electrical Engineering
− Degree in Production Engineering from − Degree in Business Administration
Rosenheim University of Applied from Karl-Franzens University Graz
Sciences
1)He was already with the founding company of AT&S
Investor and Analyst Presentation 40Milestones in the Group’s history
1987 1994 1999 2002
Founding of the Group, emerging Privatization and Initial public offering on Frankfurt Stock Exchange Start of production at new Shanghai
from several companies owned by acquisition by Messrs („Neuer Markt“). Acquisition of Indal Electronics facility – one of the leading HDI
the Austrian State Owned Androsch, Dörflinger, Zoidl Ltd., largest Indian printed circuit board plant production sites in the world
Industries (Nanjangud) – today, AT&S India Private Limited
2010 2009 2008
Start of production New production direction: Austrian AT&S change
at plant II in India plants produce for high-value niches to Vienna Stock
in the automotive and industrial
segment; Shanghai focuses on the
Exchange 2006
high-end mobile devices segment Acquisition of Korean
flexible printed circuit
board manufacturer,
2011 2013 Tofic Co. Ltd. – today,
Construction starts on new AT&S enters the IC substrate AT&S Korea Co., Ltd.
plant in Chongqing, China market in cooperation with a
Capacity increase in leading manufacturer of
Shanghai by 30% semiconductors
2018 2019
Start of the second AT&S is the global
2015 2016 2017 expansion phase at number one for high-
AT&S again achieves record high sales and AT&S starts serial production Successful introduction and plant 1 in Chongqing end printed circuit
earnings for financial year 2014/15 and of IC substrates at the plant optimisation of the mSAP technology boards
decides to increase the investment program in in Chongqing in Shanghai and Chongqing
Chongqing from € 350 million to € 480 million
Investor and Analyst Presentation 41A sustainability benchmark in the industry
“Highest resource “Highest standards at all “Highest
efficiency“ locations worldwide“ transparency“
YoY change in % Sustainability reporting since 2012/13
Revenue +3.6% Environment: ISO 14001 Gold recognition from the Responsible
Safety: OHSAS 18001 Business Alliance
Intensities
Energy: ISO 50001 Public conflict minerals reporting (in-line
CO2 footprint -5.0% Quality: ISO 9001, IATF 16949 with Responsible Minerals Initiative)
Water consumption -6.5% AS/EN 9100, DS/EN 13485 Public CDP reporting on climate change
Waste -15.8%
(C score) and water (B- score)
Investor and Analyst Presentation 42AT&S – First choice for advanced applications
IR contact
Gerda Königstorfer
Tel: +43 3842 200 5925
Mobile: +43 676 8955 5925
Fax: +43 3842 200 15909
g.koenigstorfer@ats.net
Johannes Mattner
Tel: +43 3842 200 5450
Mobile: +43 676 8955 6093
j.mattner@ats.net
Fabriksgasse 13,
8700 Leoben/Austria
www.ats.net
Visit: www.ats.net; @AT&S IR_PR; AtundS
Investor and Analyst Presentation 43Disclaimer This presentation is provided by AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, having its headquarter at Fabriksgasse 13, 8700 Leoben, Austria (“AT&S”), and the contents are proprietary to AT&S and for information only. AT&S does not provide any representations or warranties with regard to this presentation or for the correctness and completeness of the statements contained therein, and no reliance may be placed for any purpose whatsoever on the information contained in this presentation, which has not been independently verified. You are expressly cautioned not to place undue reliance on this information. This presentation may contain forward-looking statements which were made on the basis of the information available at the time of preparation and on management‘s expectations and assumptions. However, such statements are by their very nature subject to known and unknown risks and uncertainties. As a result, actual developments, results, performance or events may vary significantly from the statements contained explicitly or implicitly herein. Neither AT&S, nor any affiliated company, or any of their directors, officers, employees, advisors or agents accept any responsibility or liability (for negligence or otherwise) for any loss whatsoever out of the use of or otherwise in connection with this presentation. AT&S undertakes no obligation to update or revise any forward-looking statements, whether as a result of changed assumptions or expectations, new information or future events. This presentation does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities, and neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. This presentation does not constitute any financial analysis or financial research and may not be construed to be or form part of a prospectus. This presentation is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Investor and Analyst Presentation 44
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