AT&S World

Our Asian facilities produced 69% of total sales in
the period under review, up from 67% a year earlier
(before the relocation of volume production from
Austria to Asia). Asia’s contribution to revenue will
continue to grow as the planned expansion in capacity
there is implemented.
Revenue generated in Europe and Asia
39% 33%
61% 67%
2008/09 2009/10
Europe Asia
31%
69%
2010/11
100%
50%
The breakdown by countries shows that 47% of
revenues were generated in Europe. The largest
markets in the region were Germany (EUR 128.5m),
Hungary (EUR 41.1m) and Austria (EUR 24.6m).
Asia accounted for 27% of revenues, while the USA,
Canada and Mexico contributed 25% to the total.
Around 1% was attributable to other countries.
Earnings
The restructuring measures of the past two years,
painful though they were, proved to be both necessary
and right, as the operating results for the
financial year 2010/11 clearly show. With excellent
capacity utilisation in all AT&S Group facilities
and strong demand for high-end printed circuit
boards, operating results moved vigorously
back into profit. In addition, the full benefits
0%
of the cost reduction measures were felt for the
first time. The associated non-recurring items
consisted of staff costs of EUR 1.952m in connection
with the premature termination of a Management
Board appointment, include expenses
for severance and separation compensation and
attributable pensionable service and other entitlements.
The other non-recurring expenses were
attributable to the closure of the Vienna office.
Earnings excluding non-recurring items
(in EUR m) 2010/11
as % of
total
revenues
Operating profit 46.5 9.5%
Non-recurring items
EBIT excluding non-recur-
2.7
ring expenses 49.2 10.1%
Financial result (3.2)
Profit before tax 46.0 9.4%
Income tax expense
Consolidated net profit
excluding non-recurring
(8.3)
expenses 37.7 7.2%
Earnings per share (EUR) 1.62
Dividends
AT&S remains committed to its dividend policy –
the distribution of around 10% of cash earnings. In
line with this policy, the Management Board will
propose a dividend of EUR 0.36 per share at the
Annual General Meeting on 7 July 2011.
Business Developments
Management Board
to propose dividend
of EUR 0.36 at the
Annual General Meeting
on 7 July 2011
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