Chip specialist AT&S’s full-year core profit down 22% on expansion cost

Technology

FILE PHOTO: The logo of Austrian maker of printed circuit boards (PCBs) AT&S is seen at its headquarters in Leoben, Austria, July 5, 2016. Picture taken July 5, 2016. REUTERS/Heinz-Peter Bader

VIENNA (Reuters) – Printed circuit boards maker AT&S said on Thursday that core profit and revenue in its current first quarter were on the previous year’s level after posting a 22% decline for the financial year due to investments in its expansion.

Earnings before interest, tax, depreciation and amortisation (EBITDA) reached 194.5 million euros ($210 million) on revenue of 1.0 billion euros in the business year through end-March.

The company, which produces circuit boards for smartphones and tablets and supplies firms such as Apple, Intel and major European auto suppliers, shied away from a forecast for the full year, saying it would provide one as soon as it was possible to better assess the economic environment.

Reporting by Kirsti Knolle; Editing by Michelle Martin

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