AT&S says revenue growth heavily driven by production in mainland

Source:Global Times Published: 2018/5/15 22:03:41

Austria-based high-end printed circuit board maker AT&S posted revenue growth of more than 20 percent in fiscal 2017-18 (April 1, 2017 to March 31, 2018), with significant contributions from the production of its two plants in the Chinese mainland - one in Shanghai and the other in Southwest China's Chongqing Municipality.

Revenue was 991.8 million euros ($1.18 billion), up 21.7 percent on a yearly basis, the company said at a press conference on Tuesday in Shanghai.

It said that revenue growth was mainly due to rising demand in sectors like automobiles and medical products.

The company declined to reveal its revenue statistics in the mainland market when asked by the Global Times.

Monika Stoisser-Goehring, CFO at AT&S, told the Global Times on Tuesday that most of the end customers are US-based companies, and Asian customers only account for a small portion of the total.

But Chen Jiang Phua, chairman of the board of AT&S (China), disclosed that AT&S' mainland plants have contributed a lot to revenue growth, as in the past five years 80 percent of the company's sales were in Asia, particularly from the mainland plants.

The two plants' "high utilization level" also contributed to rising revenues, the company disclosed.

Chen said that the company might increase production at its Chongqing plant in the next financial year if market demand continued to evolve in a positive way.

AT&S has invested about 1.4 billion euros in the two mainland plants, the company disclosed.

The two plants manufacture products like substrates for semiconductors and printed circuit boards.

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