AT&S World

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Consolidated Financial Statements as of 31 March 2011 102 VI. Other Disclosures 24. Earnings per share Earnings per share is calculated in accordance with IAS 33 “Earnings Per Share”. Weighted average of outstanding shares The number of shares issued is 25,900,000, At 31 March 2011 2,577,412 treasury shares were held, which were deducted in the calculation of earnings per share. The weighted average number of outstanding shares for the basic earnings per share calculation amounted to 23.3 million in the financial year 2010/11 and to 23.3 million in the financial year 2009/10. The weighted average number of outstanding shares for the diluted earnings per share calculation amounted to 23.4 million in the financial year 2010/11 and to 23.4 million in the financial year 2009/10. The following table shows the composition of the diluted weighted average number of outstanding shares in the respective periods: Financial year (in 1,000) Weighted average number of 2010/11 2009/10 shares outstanding - basic 23,323 23,323 Diluting effect of options Weighted average number of 121 71 shares outstanding - diluted 23,444 23,394 Basic earnings per share Basic earnings per share are calculated by dividing the profit for the period attributed to the equity holders of the Company by the weighted average number of outstanding ordinary shares of the same period. Financial year 2010/11 2009/10 Profit for the year (in EUR 1,000) Weighted average number of 35,168 (37,271) outstanding shares - basic (in 1,000) 23,323 23,323 Basic earnings per share (in EUR) 1.51 (1.60) Diluted earnings per share Diluted earnings per share are calculated by dividing the profit for the period attributed to the equity holders of the Company by the weighted average number of outstanding shares including the number of potentially outstanding ordinary shares of the respective period. Potentially outstanding ordinary shares comprise the additional shares to be issued for exercisable options and are included in diluted earnings per share under the assumption that these shares are diluted. Financial year 2010/11 2009/10 Profit for the year (in EUR 1,000) Weighted average number of outstanding 35,168 (37,271) shares - diluted (in 1,000) 23,444 23,394 Diluted earnings per share (in EUR) 1.50 (1.59) According to IAS 33 the treasury shares which are held to fulfil the stock option plan do not dilute the outstanding shares. 25. Proposal on profit distribution According to the provisions of the Austrian Stock Corporation Act (“Aktiengesetz”) the local financial statements of AT & S Austria Technologie & Systemtechnik Aktiengesellschaft as of 31 March 2011 prepared under Austrian GAAP serve as the basis for the distribution of dividends. These financial statements report retained earnings amounting to TEUR 24,755 at 31 March 2011 (TEUR 14,144 at 31 March 2010). The distribution is subject to the approval of the General Meeting. The Management Board proposes to the General Meeting to distribute a dividend of EUR 0.36 per outstanding share from the retained earnings of TEUR 24,755, and to carry forward the remaining balance. 26. Material events after the balance sheet date Establishment of AT&S (Chongqing) Company Limited Already on 1 March 2011, an agreement was signed between the Group and the competent authority in Chongqing, Western China, on the purchase of usage rights relating to a property of approximately the same size as the plant in Shanghai. According to the respective resolutions and authorisations by the Management Board and Supervisory Board, the application for registration of AT&S (Chongqing) Company Limited was filed with the
authority in China on 1 April 2011. The business license required for commencement of operations was obtained on 8 April 2011. The extension of the HDI plant in Chongqing will be carried out gradually, and the respective stage of expansion will be based on market demand and technological developments. First it is planned to construct buildings and infrastructure, for which an approximate EUR 50 million is estimated. Establishment of a business-unit structure In April 2011 the Management Board, with the approval of the Supervisory Board, decided to develop the organisational structure in order to enhance flexibility in the Group and to better align operating processes with customer needs. For the purpose of strengthening market orientation, three business units – Mobile Devices, Industrial & Automotive Solutions and Embedded Component Packaging – shall be established. The new organisational structure is designed to allocate as many operating group functions as possible to the business units in order to align business processes with the specific needs of the individual business segments. Furthermore, by doing so, optimisations and efficiency increases are to be achieved in order to implement an organisational form in line with the growth strategy of the Group. From today’s perspective, no restructuring expenses or other non-recurring expenses are expected to be incurred in connection with this organisational alignment. In the course of establishing the business unit structure it is planned, among other things, to adjust the internal reporting system, which will have a corresponding impact on external segment reporting. 27. Related party transactions In connection with various projects the Group received services from consulting companies, which are held by the chairman of the Supervisory Board (AIC Androsch International Management Consulting GmbH, Vienna) as well as by Supervisory Board members (Dörflinger Management & Beteiligungs GmbH, Vienna, and Rechtsanwälte Riedl & Ringhofer, Vienna) respectively. The fees charged are as follows: Financial year (in EUR 1,000) AIC Androsch International Management 2010/11 2009/10 Consulting GmbH 411 365 Rechtsanwälte Riedl & Ringhofer Dörflinger Management & Beteiligungs 11 – GmbH 2 10 424 375 Consolidated Financial Statements as of 31 March 2011 At the balance sheet date, there are no outstanding balances or obligations to the above-mentioned consulting companies. Furthermore, in the past parts of the manufacturing processes outsourced by AT&S Korea were performed by related parties and amount to TEUR 0 in the financial year 2010/11 (2009/10: TEUR 7). Members of the Management Board and the Supervisory Board In the financial year 2010/11 and until the date of issuance of these consolidated financial statements the following persons served on the Management Board: Andreas Gerstenmayer (Chairman) Heinz Moitzi Steen Ejlskov Hansen (until 8 October 2010) Thomas Obendrauf (since 29 October 2010) In the financial year 2010/11 the following persons were elected members of the Supervisory Board: Hannes Androsch (Chairman) Willibald Dörflinger (Deputy Chairman) Karl Fink Albert Hochleitner Gerhard Pichler Georg Riedl Delegated by the Works Council: Wolfgang Fleck Johann Fuchs Günther Wölfler 103
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Lighting Solutions Smartphones Medi
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Highlights 2010/11 AT&S relocates h
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Table of Contents Table of Contents
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AT&S’s positioning AT&S has three
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Competent Partner for Navigation Sy
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Letter to our Shareholders Innovati
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Competent Partner for Medical Devic
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Our Mission and Strategy for Contin
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AT&S - a Global Player Austrian pro
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* The RIM and BlackBerry families o
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Industrial Services The Industrial
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The enormous simplification of proc
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Competent Partner for Tablets 25
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Supporting the Next Generation AT&S
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13 participants completed the AT&S
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is complete, the array will have a
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Industrial Services Order intake an
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120% 100% 80% 60% 40% 20% 0% 01/04/
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Financing maturities Maturities in
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Our Asian facilities produced 69% o
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Outlook and Guidance The wider appl
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Table of Contents Corporate Governa
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Corporate Governance Report Princip
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AT&S AG Supervisory Board Corporate
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Independence of Supervisory Board M
Page 51 and 52: Remuneration Report Corporate Gover
Page 53 and 54: Directors’ Holdings & Dealings (i
Page 55 and 56: Table of Contents Consolidated Fina
Page 57 and 58: Consolidated Balance Sheet Consolid
Page 59 and 60: Consolidated Statement of Changes i
Page 61 and 62: The acquisition method of accountin
Page 63 and 64: From the time of their availability
Page 65 and 66: At the time of acquisition they are
Page 67 and 68: For employees of the companies in I
Page 69 and 70: On 31 March 2011 a reduction of the
Page 71 and 72: Due to its Asian subsidiaries the G
Page 73 and 74: Marketing risks Currently, the Grou
Page 75 and 76: With regard to significant effects
Page 77 and 78: The non-recurring items in the fina
Page 79 and 80: Income taxes in connection with the
Page 81 and 82: The value of the land included in
Page 83 and 84: Impairments The impairments in the
Page 85 and 86: Financial assets at fair value thro
Page 87 and 88: The carrying amounts of the reporte
Page 89 and 90: 16. Financial liabilities (in EUR 1
Page 91 and 92: The bonds, export loans, loans from
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Page 95 and 96: The aggregate movement in funded an
Page 97 and 98: Consolidated Financial Statements a
Page 99 and 100: Valuation hierarchies of financial
Page 101: Treasury shares At the 16th Annual
Page 105 and 106: Total remuneration for services ren
Page 107 and 108: Group Management Report 2010/11 Gro
Page 109 and 110: through current operations. The rem
Page 111 and 112: 5. Research and development Within
Page 113 and 114: eporting, regular reporting is made
Page 115 and 116: Statement of all Legal Representati
Page 117 and 118: Glossary 2.5DTM technology New tech
Page 119 and 120: Imprint/Contact Contacts AT&S Austr
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