AT&S First choice for advanced applications - Investor and Analyst Presentation March 2018 - AT&S
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AT&S
First choice for advanced applications
Investor and Analyst Presentation
March 2018
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
Strategy & Market
Financials
Annex
Investor and Analyst Presentation 1
AT&S – a world leading high-tech PCB & IC substrates company
High-end interconnect solutions Continuously
for outperforming
Mobile Devices, Automotive, Industrial,
Medical Applications and Semiconductor market growth #3
Industry in high-end technology
worldwide
#1 € 814.9m
manufacturer in revenue in FY
2016/17 Cost-competitive production
Europe footprint with
6
10,039 plants in Europe and Asia
employees
Investor and Analyst Presentation 2
What guides us
VISION
FIRST CHOICE FOR ADVANCED APPLICATIONS
MISSION
We set the highest quality standards in our industry
We industrialize leading-edge technology
We care about people
We reduce our ecological footprint
We create value
Investor and Analyst Presentation 3
4
Market Segments & Product Applications served by AT&S
Computer,
Communication, IC substrates Automotive Industrial Medical
Consumer
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 4
Our competitive advantages
Strategic focus on high-end technologies and applications
Scale innovation and technology leverage between customer segments
Outstanding process know-how and process efficiency
Highest quality
First high-end IC substrates manufacturer in China
Investor and Analyst Presentation 5
AT&S – Key Facts
1 Good track record 2 Balanced portfolio/Global customer base
Split revenue: Business Unit, Q1-3 2017/18
815
€ in millions 763 766 Mobile Devices & Substrates
33%
667
615
590
542 67% Automotive, Industrial, Medical
+9% +13% +14% +7% +24.5%
190 Split revenue: Customer Region, Q1-3 2017/18
168 168
102
127 131*
102* based on sold to party
90 77*
31 54
7* 12* 89
6% Americas
2012/13 2013/14 2014/15 2015/16 2016/17 Q1-3 Q1-3
2016/17 2017/18
10%
Germany/Austria
Revenue EBITDA EBIT Revenue growth 21% 7% Asia
63%
Other European countries
* Based on ramp-up effects for new plants in China
Investor and Analyst Presentation 6
Global footprint ensures proximity
to supply chain & cost efficiency
AT&S plant & sales office
AT&S sales office
AT&S Headquarters
1,012* 394* 1,136* 2,388* 4,725* 309*
Plant Leoben, Headquarters Plant Fehring Plant Nanjangud Plant Chongqing Plant Shanghai Plant Ansan
Austria Austria India China China Korea
*Staff, Average, FTE, Q1-3 2017/18; 73 employees in other locations
Investor and Analyst Presentation 7
Table of Contents
Company Overview
Strategy & Market
Financials
Annex
Investor and Analyst Presentation 8
From vision to strategy
Targets/Key Performance Strategy
Indicators
Expansion of technology leadership Focus on high-end technologies and applications
• Leading provider of new interconnect solutions Focus on innovative solutions
Vision: • Innovation revenue rate: > 20%
“First choice
for advanced Long-term profitable growth Focus on fast-growing and profitable applications
application” • Medium-term EBITDA margin target of > 20% Highest service level and customer orientation
• Short-term revenue target of € 1 billion Operational excellence
Focus on cash flow generation
Creation of shareholder value Sustainable business development with focus on
• Long-term ROCE of 12% ROCE
Transparent dividend payout
The best employees and Sustainable business leadership Capital Excellence
management team members Benchmark in the industry through • Equity ratio: > 40%
• Talent programs reduction of: • Financing costs of < 2% (in a
• Training and continuing development • 5% in CO2 emissions p.a. corresponding interest environment)
• Leadership Excellence program • 3% in freshwater consumption p.a. • Payback period of debt of < 3 years
Investor and Analyst Presentation 9Strategic focus on high-end technologies
AT&S Revenue structure in H1 2017/18 – based on technologies
High-end technology share > 75%
HDI and any-layer PCBs, Embedding
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 PCB Report 2Q17/ August 2017; AT&S Controlling
Investor and Analyst Presentation 10PCB market – Overview
Forecast for the total PCB market until 2021: AT&S outperformed a flat market in the past 6 years and is set to
CAAGR of 2.5% continue to do so also in the future.
53.9
48.8 2.8
3.8% 4.5
2.4 5.0%
Index (2011 = 100)*
158.5
3.7 6.1 148.4
160 129.8
5.2 4.0%
140 114.8
120 105.4
3.5% 8.7
7.6 100
80 100.5 101.3 103.7 96.9 95.1
3.0% 60
15.3 17.3 2011* 2012 2013 2014 2015 2016
PCB & substrates market AT&S revenue
(0.2%)
14.6 14.5 AT&S outperformed the market by scaling high-end any-layer technology and by leveraging
USD in
HDI technology to the Computer-, Consumer-, Automotive-, Industrial and Medical market.
billions
2017 2021
Computing Communication
Consumer Automotive
Industrial/Medical Military/Aerospace * Basis 2011:
PCB & substrates market: USD 55.4bn
Source: Prismark, February 2017, Yole April 2017 AT&S revenue: € 514m
Investor and Analyst Presentation 11 1112
Market Player/Position HDI Technology
Market position HDI Technology
Revenue (USD in millions)
Rank Country Supplier HDI Non HDI PCBs IC substrates Total revenue
1 TWN Unimicron 802 490 830 2,122
2 TWN Compeq 679 716 - 1,395
3 AUT AT&S 596 248 -* 844
4 USA TTM 501 1,987 - 2,488
5 JPN Ibiden 368 - 929 1,297
6 TWN Tripod 316 1,052 - 1,368
7 TWN Unitech 311 123 - 434
8 KOR SEMCO 296 204 844 1,344
9 JPN Meiko 251 474 - 725
10 KOR DAP 226 - - 226
Source: Prismark 2016; NTI 2016; AT&S Strategy
* N/A due to single customer
Investor and Analyst Presentation 12Driving the future: Internet of Things (IoT) Applications
Wearable Electronics Healthcare & Fitness
Smart Watches and Glasses
Smart Mobility Autonomous Driving
Car2X Communication
Smart City Smart Lighting
Smart Buildings Home/Building Automatization
Smart Home Devices
Smart Production/Industry 4.0 Automatization/Robotics
Machine-to-Machine Communication
Smart Healthcare Connected Patient Monitoring Systems
Connected Consumer Healthcare Devices
Smart Energy Smart Metering
Building Blocks of IoT Modules: Sensing, Connectivity, Energy Storage/Harvesting, Power Management
30-50 billion of „Things“ will be connected in 2020
Wearable electronic devices offer revenue opportunities of USD 61.7bn beyond the smartphone market in 2020
Source: Gartner Inc. 2016
Investor and Analyst Presentation 13Driving the industry: miniaturization & modularization
2003/04 2013 2017 202X
?
TYPE Mobile Phone Smartphone Smartphone All in One
PCB 125x55mm 85x20mm 80x20mm 25x25mm?
FORM FACTOR 1 0.25 0.23 0.06?
LINE/SPACE 100/100µm 40/40µm 30/30µm 10/10µm
TECHNOLOGY 1-n-1 Any-layer mSAP – Any-layer FO/SAP/mSAP
Investor and Analyst Presentation 14R&D as the key for technological leadership
7.7%
R&D Quota
(in % in relation to revenue)
227
Patents
International
R&D Partners
R&D 21.8%
Headquarters
Innovation Revenue Rate *
Austria
Industrialization at the respective
production site
As of FY 2016/17 (ended 31/03/2017)
* Revenue generated with products with new, innovative technologies introduced to the market within the last three years
Investor and Analyst Presentation 15Future positioning
as leading high-end interconnect solutions provider
More than AT&S
Overview of the transformation from a high-end
Extended technology
PCB manufacturer to a high-end interconnect toolbox
solutions provider:
Additional customers
New technologies
Core business + and interconnect
solutions
Additional applications
Broader positioning in the
value chain
Investor and Analyst Presentation 16Table of Contents
Company Overview
Strategy & Market
Financials
Annex
Investor and Analyst Presentation 17Strong top-line growth and profitability, improved Cash Flow
Revenue EBITDA and EBITDA margin Operating Cash Flow
YoY growth YoY development
18.9% 21.6% 25.1% 22.0% 16.1% 16.6% 24.8%
814.9
762.9 765.9 143.9 136.9
136.4
667.0
589.9 615.1 121.0
541.7 104.8
190.3 71.7
167.6 167.5
127.2 130.9
102.4 102.1
16.8
€ in millions € in millions; % € in millions
High demand, additional revenue General high operational performance,
Solid operating cash flow reflects strong
contribution from both plants in Chongqing. successful implementation & optimization
earnings in first nine months.
Negative FX impact of € 23.9m. of mSAP technology.
Investor and Analyst Presentation 18Business Development – Mobile Devices & Substrates
€ in millions (unless Revenue increase mainly on the back of
Q1-3 2016/17 Q1-3 2017/18 Change in %
otherwise indicated) the two plants in Chongqing
Revenue 438.6 580.0 32.2% EBITDA improvements as a result of general
Revenue with external
372.9 510.8 37.0% efficiency measures and higher contribution
customers
margin
EBITDA 56.1 155.3 177.0%
Price pressure on IC substrates remains
EBITDA margin 12.8% 26.8% -
197.6 199.6
Revenue per quarter*
148.6 Trendline expressing
120.9 115.9 123.4 113.7 seasonality
104.5 112.2 101.0 97.7 126.6 113.6
88.7
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2014/15 2014/15 2014/15 2015/16 2015/16 2015/16 2015/16 2016/17 2016/17 2016/17 2016/17 2017/18 2017/18 2017/18
€ in millions; * Revenue with external customers
Investor and Analyst Presentation 19Business Development – Automotive, Industrial, Medical
€ in millions (unless Continued growth path in all sub-segments,
Q1-3 2016/17 Q1-3 2017/18 Change in %
otherwise indicated) particularly in Industrial and Medical
Revenue 262.0 270.8 3.4%
EBITDA below last year’s level which included a
Revenue with external reversal of provision of € 3.3m for previously
239.2 251.6 5.2%
customers
unused space – EBITDA margin impacted by
EBITDA 37.0 32.3 (12.6%)
negative FX effects, higher raw material prices
EBITDA margin 14.1% 11.9% -
Revenue per quarter* 84.9 85.0 87.3
79.5 76.6 80.4 79.9 78.9 79.3
77.8 72.7
71.7 72.6
65.9
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2014/15 2014/15 2014/15 2015/16 2015/16 2015/16 2015/16 2016/17 2016/17 2016/17 2016/17 2017/18 2017/18 2017/18
€ in millions; * Revenue with external customers
Investor and Analyst Presentation 20Net CAPEX & Staff
Net CAPEX STAFF*
Q1-Q3: € 124.6m for maintenance incl. technology The increased headcount is primarily based on
upgrades and Chongqing phase 1 Chongqing.
254.3 10,039
240.7 9,526
8,759
7,638
7,321 7,027
164.8
124.6
90.3
40.5
2012/13 2013/14 2014/15 2015/16 2016/17 Q1-3 2017/18 2012/13 2013/14 2014/15 2015/16 2016/17 Q1-3 2017/18
€ in millions * incl. contractors, FTE, average for the period
Investor and Analyst Presentation 21Financials Q1-3 2017/18
€ in thousands (unless otherwise stated) Change
Q1-3 2016/17 Q1-3 2017/18
YoY
STATEMENT OF PROFIT OR LOSS
High demand, additional revenue
Revenue 615,063 765,900 24.5% contribution from both plants in Chongqing.
Negative FX impact of € 23.9m.
produced in Asia 82% 85% 3pp
produced in Europe 18% 15% (3pp)
General high operational performance,
EBITDA 102,108 190,276 86.3% successful implementation & optimization of
mSAP technology.
EBITDA margin 16.6% 24.8% 8.2pp
EBIT 11,840 88,801 >100%
EBIT margin 1.9% 11.6% 9.7pp
Positive FX effects of € 2.0m (Q1-Q3 2016/17:
Finance costs – net (18,551) (11,283) 39.2% FX expense 8.2m.
Income taxes (13,038) (29,742) (>100%) Reduced tax scheme in Shanghai still pending.
Profit for the period (19,749) 47,776 >100%
Earnings per share (€ 0.51) € 1.21 >100%
Investor and Analyst Presentation 22Financials Q1-3 2017/18
€ in thousands (unless otherwise stated)
31 Mar 2017 31 Dec 2017 Change
STATEM ENT OF FINANCIAL
POSITION
Non-current assets 1,029,363 953,813 (7.3%)
Current assets 407,331 579,581 42.3%
Negative FX effects (mainly RMB-EUR and
Equity 540,094 699,129 29.4% USD-EUR) of € 57.9m. Positive: Hybrid bond
issue (€ 173.0m)
Non-current liabilities 569,849 556,116 (2.4%)
Current liabilities 326,751 278,149 (14.9%)
Total assets 1,436,694 1,533,394 6.7%
Net debt 380,549 217,028 (43.0%) Hybrid bond issue
Net gearing 70.5% 31.0% (39.5pp)
Net working capital 24,374 73,412 >100% Ususal seasonal increase in BU MS
Net working capital per revenue 3.0% 7.2% 4.2pp
Increase as a result of hybrid bond issue
Equity ratio 37.6% 45.6% 8.0pp
and net profit
Investor and Analyst Presentation 23Key credit figures
Gross debt, financial assets and cash, net debt Net debt/EBITDA
593
523 545
2.9
405
372 2.1
381 328
299 1.6
261 274 263
217
260 0.9
212 217 0.8
111
131
82
2012/13 2013/14 2014/15 2015/16 2016/17 Q1-3 2017/18 2012/13 2013/14 2014/15 2015/16 2016/17
Gross debt Financial assets and cash Net debt
€ in millions Multiple
Net debt decrease based on lower net capex Target: < 3x
(Chongqing phase I finished) & Hybrid bond issue
Investor and Analyst Presentation 24Overview Debt Portfolio Duration
Maturity Currency mix of debt
€ in millions* < 1 Year 1-5 Years > 5 Years Total portfolio
Promissory note loans 2014 1.6 48.6 5.0 55.2
Promissory note loans 2015 0.7 217.6 - 218.3 16.3%
Promissory note loans 2016 0.3 49.9 100.0 150.2
Subsidized loans 24.6 45.6 - 70.2
Bank Borrowings and others 16.4 34.5 - 50.9
Total 31/12/2017 43.6 396.2 105.0 544.8
83.7%
Total 31/03/2017 73.0 348.3 171.5 592.8
* Including accrued interest and placement costs
EUR USD
Average debt portfolio duration: 3.3 € 191m of credit lines not utilized
years (2016/17: 3.7 years) (31/03/2017: € 201m)
Average financing costs: 2.5% Currency mix of EUR and USD to support
(31/03/2017: 2.6%) natural hedging strategy
Investor and Analyst Presentation 25Financials Q1-3 2017/18
€ in thousands Change
Q1-3 2016/17 Q1-3 2017/18
YoY
STATEM ENT OF C ASH FL OWS
Operating result (EBIT) 11,840 88,801 >100%
Paid/received interests (11,628) (10,446) 10.2%
Paid taxes (10,706) (14,697) (37.3%)
Non cash bearing of profit or loss 85,004 106,647 25.5%
Cash flow from operating activities
74,509 170,305 >100%
before changes in working capital
Changes in working capital (57,705) (49,293) 14.6%
Main drivers: increase of inventory by € 30.5m
and increase of receivables by € 34.2m
Cash flow from operating activities 16,804 121,012 >100%
Cash flow from investing activities (108,650) (246,612) (>100%)
Cash flow from financing activities 78,440 135,419 72.6% Hybrid bond issue
Change in cash and cash equivalents (13,406) 9,819 >100%
Operating free cash flow1) (175,473) (3,631) 97.9%
Free cash flow 2)
(91,846) (125,600) (36.8%)
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 26Net Working Capital Management
19.0% Net Working Capital development
15.6%
14.3%
103 11.6%
92 95
88
7.3%
73
3.0%
24
2012/13 2013/14 2014/15 2015/16 2016/17 Q1-3 2017/18
Net working capital Net working capital per revenue
€ in millions; % of revenue
Investor and Analyst Presentation 27AT&S – Stock Profile
Listing: Vienna Stock Exchange, # of shares outstanding 38.85m
Prime Standard Average daily volume*: ~ 102,690 shares
Indices: ATX Prime, WBI Performance 1 year*: +124%
Thomson Reuters (A): ATSV.VI Dividend 2016/17: € 0.10 per share
Bloomberg (A): ATS:AV Dividend yield: 1.0%
* 01/03/2017 – 28/02/2018
Financial Calendar Shareholder structure
Annual results 2017/18 08 May 2018
Record date Annual General Meeting 25 June 2018
24th Annual General Meeting 05 July 2018
Ex-dividend day 24 July 2018
Record date dividend 25 July 2018
Dividend payment day 26 July 2018
Investor and Analyst Presentation 28Outlook FY 2017/18
For Q4:
> usual seasonality
> continuous price pressure – particularly for IC substrates
FY 2017/18 – provided a stable market environment and exchange rate development:
> revenue growth of 20-25%
> EBITDA margin: based on strong Q1-Q3 earnings - slightly above given forecast
of 19-22%
> additional depreciation of € ~15m
Investor and Analyst Presentation 29Table of Contents
Company Overview
Strategy & Market
Financials
Annex
Investor and Analyst Presentation 30AT&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 31AT&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 32AT&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 Leoben, 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 33Management
Andreas Monika Stoisser- Heinz Moitzi,
Gerstenmayer, CEO Göhring, CFO COO
Joined AT&S as CEO in 2010 CFO since 2017 COO since 2005; with AT&S since
Previous positions include: 19811)
Previous positions include:
Since 2011 with AT&S in senior Previous positions include:
18 years of work experience at Siemens, positions in Finance and Human Various management positions
including Managing Director with Resources within AT&S
Siemens Transportation Systems GmbH Various positions at international Measurement engineer with Leoben
Austria and CEO of the Drive Technology accounting and tax consulting University of Mining and Metallurgy
business unit in Graz from 2003 to 2008 companies Education:
Partner at FOCUSON Business Education: Degree from Higher Technical
Consulting GmbH after leaving Siemens Training as Tax Consultant College of Electrical Engineering
Degree in Business Administration
Education: from Karl-Franzens University Graz
Degree in Production Engineering from
Rosenheim University of Applied 1)He was already with the founding company of AT&S
Sciences
Investor and Analyst Presentation 34Milestones 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
2016
AT&S starts serial production of
IC substrates at the plant in
Chongqing
2015
AT&S again achieves record high sales and earnings for
financial year 2014/15 and decides to increase the investment
program in Chongqing from € 350 million to € 480 million
Investor and Analyst Presentation 3536
A sustainability benchmark in the industry
“Highest resource “Highest standards at all “Highest
efficiency“ locations worldwide“ transparency“
Revenue growth Environment: ISO 14001 Sustainability reporting since 2012/13
Resource Safety: OHSAS 18001 Gold recognition from the Responsible
consumption Energy: ISO 50001 Business Alliance
stable/declining Quality: ISO 9001, ISO/TS 16949 Conflict minerals reporting
AS/EN 9100, DS/EN 13485 Public CDP reporting on climate change
(C score) and water (B score)
* Basis for CO2 output: 2015/16
Investor and Analyst Presentation 36AT&S – First choice for advanced applications
IR contact
Johannes Mattner
Fabriksgasse 13,
8700 Leoben/Austria
Tel: +43 3842 200 5450
Mobile: +43 676 8955 6093
Fax: +43 3842 200 15909
j.mattner@ats.net
www.ats.net
Visit: www.ats.net; @AT&S IR_PR; AtundS
Investor and Analyst Presentation 37Disclaimer 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 38
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