AT&S 3Q 19/20 Conference Call Notes
How does the shutdown affect the short-term outlook? Management presented details of the current shutdowns, which affect mainly the Chongqing II and Shanghai plants, while Chongqing I is up and running, albeit at lower capacity utilisation as not all personnel was able to return. Suppliers would need to ramp-up production within the next two weeks for keep Chongqing I running for the remainder of February. We remind that the new FY guidance implies 4Q 19/20 revenues of EUR 207 mn, down 13% yoy, and EBITDA of EUR 16-36 mn (from down 45% to up 20% yoy). The high end of the range would mark a margin not seen in the past few years, but not unheard of either at AT&S in the early 2010s. As the end of the factory shutdowns in Chinese manufacturing regions will likely get worldwide attention, we expect in-time news flow on the situation1300 Smiles is engaged in the provision of dentistry services in Australia. Co. provides the use of dental surgeries, practice management and other services to self employed dentists who carry on their own dental practices. The services provided by Co. allow the dentists to focus on the delivery of dental services rather than on the administrative aspects of carrying on their businesses. The dentists pay fees to Co. for the provision of these services under a Dental Service Agreement with Co. Co. provides services in the areas of marketing, administration, billing and collections, and facilities certificates and licensing to all participating dentists.
AT&S Austria Technologie und Systemtechnik is engaged in the production of printed circuit boards. Co. has three core printed circuit board businesses: Mobile Devices, Automotive and Industrial. Co.'s product assortment ranges from single and double-sided printed circuit boards to multilayer, flexible and rigid, insulated metallic substrate, nucleus, to laser drilled circuit boards. Co.'s products are used as electromechanical linking elements, mainly in the telecommunication sector, automobile industry and medical technology applications, defense and aerospace.
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