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AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse13 | A-8700 Leoben Tel +43 (0) 3842 200-0 | E-Mail [email protected] www.ats.net AT&S first choice for advanced applications Investor and Analyst Presentation September 2016

AT&S Investor and Analyst Presentation September 2016

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AT & S Austria Technologie & Systemtechnik Aktiengesellschaft | Fabriksgasse13 | A-8700 Leoben Tel +43 (0) 3842 200-0 | E-Mail [email protected]

www.ats.net

AT&S first choice for advanced applications

Investor and Analyst Presentation

September 2016

1

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

High-End Interconnection

Solutions for

Mobile Devices, Automotive,

Industrial, Medical Applications

One of the

most profitable Players

in the Industry: EBITDA margin of 22.0%

in FY 2015/16

Continuously

Outperforming

market growth

€ 762.9m Revenue in FY 2015/16;

5.2% organic growth

# 1 manufacturer in Europe

# 3 in High-End Technology

worldwide

9,165 employees

Cost-competitive production

footprint with

6 plants in Europe and Asia

2

AT&S – a world leading high-tech PCB company

Outstanding process know-how

and process efficiency

3

Our competitive advantages

Cost advantage as first high-end IC

substrates manufacturer in

China

Strategic focus on high-end

technologies and applications

Technology leverage between

customer segments

Quality

What guides us

Vision First choice for advanced applications

Targets

Strenghtening the technology leadership

Long-term profitable growth with the target to be one of the most profitable

players in the industry

Generation of shareholder value

Strategy

Focus on high-end technologies and applications with above average

growth potential and long-term profitability

Focus on highest service-level and customer orientation

Focus on operational excellence

Focus on cash flow generation

4

5

High-end PCBs for high-end applications

Revenue Share*

Segment Selected Market

Leaders

GoPro

Sony

LG

Canon

Qualcomm

Blackberry

Lenovo

Huawei

Samsung

Xiaomi

ZTE

Intel

Apple

Selected Applications

Osram

Hella

Siemens

General Electric

Continental

Harmann

EADS

Mobile Devices & Substrates

Automotive, Industrial, Medical

Consumer Electronic

Smartphones

Wearables

Tablets, Ultrabooks, 2 in 1

Automotive: Navigation, Advanced Driver Assistance Systems, Infotainment..

Industrial: Machine-2-Machine communication, industry computer..

Medical: MRT, hearing aids, pacemaker, patient monitoring..

* based on external revenue

55%

45%

AT&S – Key Facts

Strong track record 1 Balanced portfolio / Global customer base 2

7%

Split revenue: Business Unit, Q1 2016/17

Split revenue: Customer Region, Q1 2016/17 based on sold to party

52% 27%

14%

7% Americas

Germany/Austria

Asia

Other EuropeanCountries

55% 45%

Mobile Devices &Substrates

Automotive,Industrial, Medical+5% +9% +13% +14%

* based on ramp-up effects for new plants in China

Revenue growth

€ in millions

514 542

590

667

763

194 179

103 102 127 168 168

46 19 42 31 54

90 77 24

(9)

2011/12 2012/13 2013/14 2014/15 2015/16 Q12015/16

Q12016/17

Revenue EBITDA EBIT

*

6

Global footprint ensures proximity to supply chain & cost efficiency

European production facilities: high mix/low volume Asian production facilities: high volume/low mix

Sales network spanning three continents 9,165 employees*

Plant Shanghai, China Staff: 4,556*

Plant Ansan, Korea Staff: 286*

Plant Nanjangud, India Staff: 1,108*

Plant Chongqing, China under construction Staff: 1,826*

Plant Leoben, Austria Headquarters Staff: 951*

Plant Fehring, Austria Staff: 360*

AT&S sales offices AT&S plants

*Average, FTE, Q1 2016/17; 78 employees in other locations

7

PCB market - overview

15.654 17.146

16.203 17.543

7.676

8.084 3.638

4.332 3.645

4.417 2.288

2.520

2016 2020Computing Communication

Consumer Automotive

Industrial/Medical Military/Aerospace

4.9%

4.5%

1.3%

2.3%

2.0%

Source: Prismark, Feb. 2016

Moderate growth of 2.4% forecasted for the total PCB market until 2020.

49.104 54.042 CAAGR 2016-

2020: 2.4%

2.4%

USD in billions

8

AT&S outperformed a flat market in the past 5 years and is set to continue to do so also in the future.

100.5 101.3 103.7 99.8

105.4 114.8

129.8

148.4

2011* 2012 2013 2014 2015

Index (2011 = 100)*

PCB & substrates market AT&S revenue

* Basis 2011: PCB & substrates market: USD 55.4bn AT&S revenue: € 514m

AT&S outperformed the market by scaling high-end Anylayer technology and by leveraging HDI technology to the Computer-, Consumer-, Automotive-, Industrial and Medical Market.

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

9

10

AT&S positioning - current

Strategic focus on high-end technologies

AT&S Revenue structure in 2015/16 - based on technologies

High-end HDI PCBs and IC substrates

~30%

Single-sided (SS), double-sided (DS), multilayer- (ML), flex and rigid-flex (RF) PCBs

~70%

High-end technology share > 70% HDI and Anylayer PCBs, Embedding

Complementary technology share: < 30% SS, DS, ML,

Flex, RF

Structure of general PCB market – based on technologies

11

Source: Prismark, 2015; JMS 2015; NTI 2015; AT&S Strategy

Market position HDI Technology

Revenue (US$ in millions)

Rank Country Supplier HDI Non HDI

PCBs IC

substrates Total

revenue

1 TWN Unimicron 738 634 758 2,130

2 TWN Compeq 624 486 - 1,110

3 AUT AT&S 557 329 - 886

4 JPN Ibiden 462 376 655 1,493

5 KOR SEMCO 392 200 970 1,562

6 USA TTM 376 1,046 - 1,422

7 TWN Zhen Ding 369 2,114 - 2,483

8 TWN Tripod 321 1,070 - 1,391

9 TWN Unitech 302 153 - 455

10 CHN Kingboard (E&E) 275 688 - 963

Market Player/Position HDI Technology

12

Driving Future Trends: Internet of Things (IoT) Applications Everything is going to be smart and/or connected

Healthcare & Fitness

Smart Watches and Glasses Wearable Electronics

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 61.7 billion beyond the smartphone market in 2020 Source: Gartner Inc. 2016

The world is changing – miniaturisation & modularisation as main drivers

2003/04 2013 2017 202x

?

Type Mobile Phone Smartphone Smartphone All in One

PCB 125x55mm 85x20mm 80x20mm 25x25 ?

FF 1 0.25 0.23 0.06 ?

L/S 100/100 µm 40/40µm 30/30µm 10/10µm

Techn. 1-n-1 Anylayer mSAP – Anylayer FO/SAP/mSAP

13

From vision to strategy

14

Targets/Key performance Indicators

Strategy

Strenghtening technology leadership • Leading player in the high-end core

business • Medium-term: leading player in new

business areas • Innovation Revenue Rate: > 20%

Continuous innovation and focus on high-end technologies and applications

Focus on innovative solutions

Long term profitable growth/to be one of the most profitable players in the industry • Medium-term EBITDA margin target of

18–20% • Medium-term revenue target of ~€ 1 billion

Focus on technologies and applications with above- average growth potential and long-term profitability

Focus on highest service-level and customer orientation

Focus on operational excellence

Focus on cash flow generation

Generation of shareholder value • Medium term ROCE of 12%

Sustainable development focusing on ROCE

Stable dividend policy

Vision: “First choice for advanced

applications”

The best employees and executives • Talent Programs • Trainings • Leadership Excellence Programme

Sustainable management To be the benchmark of the industry by reduction of: • 5% CO2 emissions p.a. • 3% freshwater consumption p.a.

Capital Excellence • Equity ratio: > 40% • Financing costs of < 2% (in a

corresponding interest environment)

• Payback period of < 3 years

19.6% of AT&S‘ total revenue in 2015/16 is generated by products with new, innovative

technologies introduced to the market within the last three years (Innovation Revenue

Rate). IRR decreased due to a generation of mature products.

162 patent families, resulting in 212 patents.

R&D expenses: € 95.5m in the financial year 2015/16.

R&D quota (i.e. relation to revenue): 12.5% (vs. 8.7% in the previous year). Adjusted for

project IC substrates: 4.5%

32.9

24.7 31.8

57.9

95.5

2011/12 2012/13 2013/14 2014/15 2015/16

15.0

19.2

26.5

29.2

19.6

2011/12 2012/13 2013/14 2014/15 2015/16

101

124

153

174

212

2011/12 2012/13 2013/14 2014/15 2015/16

IRR (Innovation Revenue Rate)

€ in millions in % Quantity

Patents R&D expenses

Research and development as the key for technological leadership

15

„New interconnection solutions“ > supporting miniaturization and

modularisation

„High-end Toolbox“

New and existing Application Areas

New and existing customers Semiconductors Packaging

companies (OSATS) Original Electronic

Manufacturers (OEMs)

Tier 1 suppliers

Future positionining as leading high-end interconnection solutions provider

Mobile Devices

Automotive

Industrial

Medical

INTERNET of

THINGS

NEW TECHNOLOGIES

IC substrates Advanced Packaging

Substrate-like PCBs

EXISTING TECHNOLOGIES

Multilayer PCBs HDI Anylayer PCBs

Embedding Flexible PCBs

CORE BUSINESS Multilayer PCBs, HDI Anylayer PCBS, Embedding, Flexible PCBs

e- IC substrate Advanced Packaging /SLP (SiB) Advanced Packaging / (SiP) e- Interposer

16

„More comprehensive positioning in the value chain“

17

AT&S’ advanced technology solutions

General Description & Technology Application Areas Customer Base

High-End (HDI) PCBs

PCBs are the interconnection platform for electric, electronic & mechanical components (such as resistors , capacitors, IC’s,

connectors; etc.) Density: Line/ Space > 35 micron

Computer, Consumer, Communication, Automotive

Industrial, Medical

OEM´s Tier 1 Tier 2

Substrate-like PCBs

Substrate-like PCBs are the next evolution of high-end HDI PCBs with higher density: Line/Space < 30micron

Mobile Applications like Wearables

OEM’s Tier 1 Tier 2

18

General Description & Technology Application Areas Customer Base

IC substrates

IC substrates serve as interconnection platform with higher density (Line/Space < 15 micron) between

semiconductors (Chips) & PCBs

High-end processors for Computer, Communication,

Automotive, Industrial

OEM’s Semiconductor

Industry

Embedded Component Packaging

(ECP®)

Embedded Component Packaging allows to embed active/passive components (e.g. wafer level dies) within the

layers of a PCB – contributes to miniaturisation

Power Electronics, e.g. for

Automotive, Industrial

OEM’s

Semiconductor Industry

AT&S’ advanced technology solutions

Growth Project Chongqing

IC substrate project Investment* Phase 1: ~ € 280m Investment* as of 30/06/2016: € 221.8m

Substrate-like PCB project Investment*Phase 1: ~ € 200m Investment* as of 30/06/2016: € 119.6m

19

Total investment: € 480m* in first phase (until mid 2017) Depreciation & Amortisation: average of 10 years; roughly additional € 40m in FY 2016/17

* CAPEX for tangible fixed assets

Q4 2015/16 (January – March 2016)

Challenge: Ramp of three production lines within 12 months

Ramp: PRODUCTION LINE 1 - IC SUBSTRATES

Q1 2016/17 (April – June 2016)

Q2 2016/17 (July – September 2016)

Q3 2016/17 (October – December 2016)

Q4 2016/17 (January – March 2017)

Ramp: PRODUCTION LINE 1 – SUBSTRATE-LIKE PCBs

Ramp: PRODUCTION LINE 2 - IC SUBSTRATES

FY 2015/16 FY 2016/17

20

21

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

Sound top-line growth, above industry margins and increasing cash conversion

87

72

105

144 137

38

(12)

Revenue Y-O-Y growth

Operating Cash Flow Y-O-Y development

EBITDA and EBITDA-margin

Revenue decline in Q1 2016/17 based on normal, expected seasonality (Q1 2015/16: no seasonality) and expected price pressure.

EBITDA impacted by negative effects from ramp-up of new plants in Chongqing.

EBITDA margin adjusted for Chongqing effects almost on high level of Q1 2015/16.

Decrease is based on lower EBIT and higher depreciation.

€ in millions

514 542

590

667

763

194 179

€ in millions

103 102 127

168 168

45

19

38*

€ in millions; % * Adjusted for Chongqing effects

20.1% 18.9% 21.6% 25.1% 22.0% 23.4% 10.5%

25.8%* 23.7%* 23.3%* 21.9%*

22

Normal seasonality in Q1 2016/17

Continuous diversification: > new projects for high-end computing and consumer applications for US and Japanese customers > further strengthening of position with fast growing high-end Chinese smart phone manufacturers > Qualified supplier for wireless providers

Business Development – Mobile Devices & Substrates

68.0

88.7

120.9 104.5

115.9 112.2 123.4

101.0 97.7

Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16 Q4 15/16 Q1 16/17

€ in millions (unless otherwise indicated)

Q1 2015/16 Q1 2016/17 Change in %

Revenue 138.2 120.4 (12.9%)

Revenue with external customers 115.9 97.7 (15.6%)

EBITDA 33.3 8.7 (73.8%)

EBITDA margin 24.1% 7.3% -

€ in millions * Revenue with external customers

Revenue per quarter*

23

72.6 71.7 65.9 72.6 77.8 79.5 72.7 76.6 80.4

Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16 Q4 15/16 Q1 16/17

Overall: good position in all technologies provided by this Business Unit, based on strategically chosen applications

Automotive: continuous high demand for HDI PCBs for driver assistance systems and gearbox control units

Medical: solid growth based on new technologies and functionalities (e.g. communication modules)

Industrial: similar level than last years quarter, development more stable than expected, new projects ramping

Business Development – Automotive, Industrial, Medical

Revenue per quarter*

24

€ in millions (unless otherwise indicated)

Q1 2015/16 Q1 2016/17 Change in %

Revenue 84.8 86.7 2.3%

Revenue with external customers 77.8 80.4 3.3%

EBITDA 8.7 8.9 1.6%

EBITDA margin 10.3% 10.2% -

€ in millions * Revenue with external customers

Capex & Staff

CAPEX * CAPEX spending includes investments in Chongqing project (whereof € 51.8m) and technology investments in existing locations.

STAFF** The increased headcount is based on Chongqing.

€ in millions

* Net CAPEX

40.3

57.9

78.7 77.4

66.3

Q1 2015/16 Q2 2015/16 Q3 2015/16 Q4 2015/16 Q1 2016/17

7,341 7,403 7,399 7,379 7,339

1,049 1,152 1,289 1,380 1,826

8,390 8,555 8,688 8,759

9,165

Q1 2015/16 Q2 2015/16 Q3 2015/16 Q4 2015/16 Q1 2016/17

Core business Employees Chongqing

** incl. leased personnel, FTE, average for the period

25

Financials Q1 2016/17

26

Difference due to FX; interest expense on prior year level despite higher gross debt

€ in thousands (unless otherwise

stated)Q1 2015/16 Q1 2016/17

Change

YoY

STATEMENT OF PROFIT OR LOSS

Revenue 194,392 178,867 (8.0%)

produced in Asia 80% 79% (1pp)

produced in Europe 20% 21% 1pp

EBITDA 45,518 18,831 (58.6%)

EBITDA margin 23.4% 10.5% (12.9pp)

EBITDA adjusted 45,243 38,084 (15.8%)

EBITDA adjusted margin 23.3% 21.9% (1.4pp)

EBIT 23,813 (9,169) (>100%)

EBIT margin 12.3% (5.1%) (17.4pp)

EBIT adjusted 25,657 19,118 (25.5%)

EBIT adjusted margin 13.2% 11.0% (2.2pp)

Finance costs – net (170) (5,718) (>100%)

Income taxes (3,993) 1,253 >100%

Profit for the period 19,650 (13,634) (>100%)

Earnings per share € 0.50 (€ 0.35) (>100%)

Financials Q1 2016/17

Increase from additions in tangible and intangible assets of € 81.4m

Equity decrease mainly due to net loss of € 13.6m

27

Increase due to promissory note loans of € 150.0m

Increase mainly due to CAPEX of € 66.3m

€ in thousands (unless otherwise

stated)31 Mar 2016 30 Jun 2016

Change

QoQ

STATEMENT OF FINANCIAL

POSITION

Non-current assets 866,338 930,772 7.4%

Current assets 478,312 557,581 16.6%

Equity 568,936 553,533 (2.7%)

Non-current liabilities 421,407 581,734 38.0%

Current liabilities 354,307 353,086 (0.3%)

Total assets 1,344,650 1,488,353 10.7%

Net debt 263,192 342,372 30.1%

Net gearing 46.3% 61.9% 15.6pp

Net working capital 88,427 99,614 12.7%

Net working capital per revenue 11.6% 13.9% 2.3pp

Equity ratio 42.3% 37.2% (5.1pp)

273 299

372 405

523

651

31

82

261 274

260

309

243 217

111 131

263

342

2011/12 2012/13 2013/14 2014/15 2015/16 Q1 2016/17

Gross debt Financial assets and cash Net debt

2.3

2.1

0.9 0.8

1.6

2011/12 2012/13 2013/14 2014/15 2015/16

Expected multiple in temporary peak of Chongqing investments: < 3.5x

Net debt/EBITDA

Financial debt, financial assets and cash, net debt

Based on € 309m financial assets and cash: repayment of the bond in November 2016, financing the start-up phase and outstanding payments for investments of the first phase of Chongqing are secured

€ in millions

28

Overview Debt Portfolio Duration

Average debt portfolio duration: 3.5 years (2015/16: 3.9 years)

Average financing costs: 2.6% (as of 30/06/2016)

€ 177m of credit lines not utilised (as of 30/06/2016)

Currency mix of EUR and USD to support natural hedging strategy

29

85.0%

14.5%

0.5%

EUR USD RMB

Currency mix of debt portfolio

Maturity

€ in millions* < 1 Year 1-5 Years > 5 Years Total

Bond 2011-2016 77.8 - - 77.8

Promissory note loans 2014 0.8 61.1 5.0 66.9

Promissory note loans 2015 1.6 154.2 66.3 222.1

Promissory note loans 2016 0.3 49.9 100.0 150.2

Subsidised loans 43.9 34.9 - 78.8

Bank Borrowings and others 5.2 43.5 6.3 55.0

Total 30/06/2016 129.6 343.6 177.6 650.8

Total 31/03/2016 161.4 285.3 76.3 523.0

* including accrued interest and placement costs

Financials Q1 2016/17

30

Increase mainly due to other receivables

Includes cash from payout of promissory note loan net of repayment of loans

€ in thousandsQ1 2015/16 Q1 2016/17

Change

YoY

STATEMENT OF CASH FLOWS

Operating result (EBIT) 23,813 (9,169) (>100%)

Paid/received interests (362) (1,414) (>100%)

Paid taxes (2,926) (5,145) (75.8%)

Non cash bearing of profit or loss 24,203 24,293 0.4%

Cash flow from operating activities

before changes in working capital44,728 8,565 (80.9%)

Changes in working capital (7,041) (20,363) (>100%)

Cash flow from operating activities 37,687 (11,798) (>100%)

Cash flow from investing activities (40,331) (101,527) (>100%)

Cash flow from financing activities 3,320 125,671 >100%

Change in cash and cash equivalents 676 12,346 >100%

31

Net Working Capital Management

Net Working Capital Development - € in millions and in % of revenue

92

103

92 95 88

100

18.0% 19.0%

15.6%

14.3%

11.6%

13.9%

2011/12 2012/13 2013/14 2014/15 2015/16 Q1 2016/17

Net Working Capital development Net Working Capital % of revenue

AT&S - Stock Profile

Listing: Vienna Stock Exchange,

Prime Standard

Indices: ATX Prime, WBI

Thomson Reuters (A): ATSV.VI

Bloomberg (A): ATS:AV

Results for the first half-year 2016/17 03 November 2016

Results for the first three quarters 2016/17 31 January 2017

Annual results 2016/17 09 May 2017

Record Date Annual General Meeting 26 June 2017

23rd Annual General Meeting 06 July 2017

Ex-Dividend Day 25 July 2017

Record Date Dividend 26 July 2017

Dividend Payment Day 27 July 2017

32

Financial Calendar Shareholder structure

# of shares outstanding 38.85m

Avg. daily volume: 76,900 shares*

Performance ytd: -25.82%*

Dividend 2015/16: EUR 0.36/per share

Dividend yield: 2.8%

* 01/01/2016 – 31/08/2016

33

Outlook FY 2016/17

Focus on capacity utilisation of first production line of IC substrates and ramp of two further

production lines (second production line of IC substrates, first production line of substrate-like

PCB)

Slower growth dynamic expected in certain customer segments, particularly in Mobile Devices &

Substrates as well as stronger seasonality in Q1 and Q4 and continuous low visibility

Based on a macroeconomic stable environment, FX relation of USD-EUR on a similar level than FY

2015/16 and a stable demand in the core business, management expects revenue growth of 10-

12%. EBITDA margin should be on a level of 18-20%, based on costs related to the ramp of

Chongqing. EBITDA margin in core business should be on a similar level than in FY 2015/16.

Higher depreciation for the project Chongqing of additional ~ € 40m in FY 2016/17 will have a

clear impact on EBIT level.

34

Company Overview

Strategy & Market

Annex

Financials

Table of Contents

AT&S Product Portfolio - I

ECP: Embedded Component Packaging

IC substrates Substrate-like printed circuit boards

Embedded Component Packaging allows to embed active/passive components (e.g. wafer level dies) within the layers of a PCB – contributes to miniaturisation.

IC substrates serve as interconnection platform with higher density (Line/Space < 15 micron) between semiconductors (Chips) & PCBs .

Substrate-like PCBs are the next evolution of high-end HDI PCBs with higher density: Line/Space < 30micron.

Production site Leoben

Chongqing

Chongqing, Shanghai

Applications Devices such as smartphones, tablets, digital cameras and hearing aids

High-end processors for Computer, Communication, Automotive, Industrial

Mobile applications like wearables

35

AT&S Product Portfolio - II

HDI any-layer printed circuit

boards

HDI microvia printed circuit boards – high density interconnect

Multilayer printed circuit boards

Double-sided printed circuit boards

IMS printed circuit boards – insulated

metal substrate

Further technological enhancement to HDI microvia: All electrical connections in HDI any-layer boards consist of laser-drilled microvias. Advantage: further miniaturisation, and higher performance and reliability. AT&S produces HDI any-layer in 4 to 12 layers.

HDI: high density interconnect, meaning laser-drilled connections (microvias). HDI is first step towards miniaturisation. AT&S can produce 4-layer laser PCBs up to 6-n-6 HDI multi layer PCBs.

Found in almost every area of industrial electronics. AT&S produces printed circuit boards with 4 to 28 layers, in quantities from individual prototypes to small batches and mass production.

Used in all areas of electronics. AT&S focuses on double-sided printed circuit boards with thicknesses in the range of 0.1-3.2 mm.

IMS: insulated metal substrate. Primary function: heat dissipation for use mainly with LEDs and power components.

Production site Shanghai

Shanghai, Leoben

Leoben, Nanjangud, Fehring

Fehring, Nanjangud

Fehring

Applications Smartphones, Tablets, Notebooks

Mobile phones and nearly all electronic applications including automotive (navigation, infotainment and driver assistance systems)

Used in all electronic applications including touch panels, and in products ranging from aircraft to motorcycles, from storage power plants to solar arrays

Primarily industrial and automotive applications

Lighting industry

36

AT&S Product Portfolio - III

Flexible printed circuit boards

Semi-flexible printed circuit boards

Rigid-flex printed circuit boards

Flexible printed circuit boards on aluminium

AT&S patented technologies

Used to replace wiring and connectors, allowing for connections and geometries that are not possible with rigid printed circuit boards.

More limited bend radius than flexible printed circuit boards. The use of a standard thin laminate makes them a cost-effective alternative.

Combine the advantages of flexible and rigid printed circuit boards, yielding benefits for signal transmission, size and stability.

Used when installing LEDs in car headlights, for example, where the printed circuit board is bonded to an aluminium heat sink to which the LEDs are then attached.

Production site Ansan, Fehring

Fehring

Leoben, Ansan

Ansan

Applications Nearly all areas of electronics, including measuring devices and medical applications

Automotive applications

Industrial electronics, such as production machines and industrial robots

Lighting, automotive, building lighting

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 more powerful devices, such as smartphones, tablets, digital cameras and hearing aids. Production site: Leoben

2.5D® Technology Platform Combines mechanical and electronic miniaturisation, and enables partial reduction of the thickness of a circuit board. Advantage: populated assemblies have a thinner profile. Can be also used to make cavities in the printed circuit board, e.g. for acoustic channels. Major application for this technology is the 2.5D® rigid-flex printed circuit board, a lower cost alternative for flex-to install applications. Production sites: Leoben, Shanghai

37

Management

Andreas Gerstenmayer, CEO Born 1965; joined AT&S as CEO in 2010 Previous positions include:

18 years of work experience at Siemens, including Managing Director with Siemens Transportation Systems GmbH Austria and CEO of the Drive Technology business unit in Graz from 2003 to 2008

Partner at FOCUSON Business Consulting GmbH after leaving Siemens Education and other positions:

Member of the Research Council of Styria Degree in Production Engineering from Rosenheim University of

Applied Sciences

Heinz Moitzi, COO Born 1956; COO since 2005; with AT&S since 19811) Previous positions include:

Various management positions within AT&S Measurement engineer with Leoben University of Mining and

Metallurgy Education:

Degree from Higher Technical College of Electrical Engineering

Karl M. Asamer, CFO Born 1970; joined AT&S as CFO in 2014 Previous positions include:

Managing Director of GEKA Group in Germany Managing Director of Sell GmbH in Germany

Education: Degree: doctorate in business administration in Linz, Austria

1) He was already with the founding company of AT&S

Responsibilities: Sales and Marketing Human Resources Investor Relations, Public Relations and

Internal Communications Business Development & Strategy Compliance CSR & Sustainability

Responsibilities: Finance and Accounting, Treasury Controlling Legal Affairs, Risk Management and

Internal Audit IT and Organisation Procurement

Responsibilities: Research & Development (R&D) Operations Quality Management Business Process Excellence Environment Safety

38

Milestones in the Group’s history

1987 Founding of the Group, emerging

from several companies owned by

the Austrian State Owned

Industries

1994 Privatisation and

acquisition by Messrs

Androsch, Dörflinger, Zoidl

1999 Initial public offering on Frankfurt Stock Exchange

(„Neuer Markt“). Acquisition of Indal Electronics

Ltd., largest Indian printed circuit board plant

(Nanjangud) – today, AT&S India Private Limited

2002 Start of production at new Shanghai

facility – one of the leading HDI

production sites in the world

2010 Start of production

at plant II in India

2009 New production direction: Austrian

plants produce for high-value niches

in the automotive and industrial

segment; Shanghai focuses on the

high-end mobile devices segment

2008 AT&S change

to Vienna Stock

Exchange 2006 Acquisition of Korean

flexible printed circuit

board manufacturer,

Tofic Co. Ltd. – today,

AT&S Korea Co., Ltd.

2015 AT&S again achieves recordhigh sales and earnings for

financial year 2014/15 and decides to increase the investment

program in Chongqing from € 350 million to € 480 million

2011 Construction starts on new

plant in Chongqing, China

Capacity increase in

Shanghai by 30%

2013 AT&S enters the IC substrate

market in cooperation with a

leading manufacturer of

semiconductors 2016 AT&S receives certification for

the serial production of IC

substrates at the plant in

Chongqing

AT&S shares are admitted to

the Austrian lead index ATX

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Five core dimensions of sustainability within AT&S

Energy and carbon footprint

Water

AT&S – a learning organisation

Resources

Thinking ahead – shaping the future

CSR gains importance in long term success Improving efficiency Motivated and qualified staff

CSR as a key to sustainable business success

The importance of sustainability is rising within:

Authorities (basis for securing operation licences)

Customers (relevant for placing orders)

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AT&S saves CO2 and Water…

Sustainability – Figures and Fields of Action

AT&S aims to minimise its environmental footprint by reducing the CO2 emissions per m2 PCB attributable to production processes by 5% a year.

AT&S aims to reduce the Group‘s annual fresh water consumption per m2

PCB by 3%.

765.2

834.7

783.9

734.0 718.6

2011/12 2012/13 2013/14 2014/15 2015/16

Freshwater consumption**

** in liters per sqm weighted PCB

1)

47.4

51.0 50.7

49.0

50.7

2011/12 2012/13 2013/14 2014/15 2015/16

CO2-Footprint*

1)

* in kg per sqm weighted PCB

1) Since 2012/13 calculation according to EICC standards; before that AT&S internal calculation

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AT&S – first choice for advanced applications

IR Contact: Elke Koch Fabriksgasse 13, 8700 Leoben/Austria Tel: +43 3842 200 5925 Mobile: +43 676 8955 5925 Fax: +43 3842 200 15909 [email protected] www.ats.net

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Disclaimer

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.

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