21st Austria weekly - AT&S, Vienna Insurance Group (17/05/2022)

AT&S: AT&S significantly increased revenue and earnings in the financial year 2021/22 and continues its strong growth course as part of its strategy implementation. Consolidated revenue increased by 34% to Euro 1,590 mn in the financial year 2021/22 (PY: Euro 1,118 mn). Adjusted for currency effects, consolidated revenue rose by 33%. Revenue grew on a broad basis, with the additional capacity for ABF substrates in Chongqing, China, proving to be the main driver. In addition, the broader application portfolio for mobile devices and module printed circuit boards also contributed to revenue growth. In the AIM business unit, all three segments benefited disproportionately from the dynamic market environment, with the Industrial segment recording the strongest growth. The Automotive segment also saw an increase in revenue despite the shortage of semiconductors. EBITDA rose by 42% from Euro 246 mn to Euro 349 mn. The good result was positively influenced mainly by the significant increase in revenue, which more than compensated for burdening effects such as the start-up costs in Chongqing and Kulim, Malaysia, as well as higher material, transport and energy costs. CEO Andreas Gerstenmayer: “This strong performance once again confirms our growth strategy and gives us reason to be optimistic about the future in the new financial year. We expect revenue of roughly Euro 2 bn and an EBITDA margin between 23 and 26%. The growth course will also continue in the years to come: in the financial year 2025/26, we will generate revenue of approximately Euro 3.5 bn and increase the EBITDA margin to 27 to 32%."
AT&S: weekly performance: 11.16%

Vienna Insurance Group: Cienna Insurance Group has continued last year’s positive performance into the first quarter of 2022. With premium growth of Euro 348 mn, the total premium volume for the first three months of 2022 was up significantly by 11.2% to Euro 3.45 bin. There has been premium growth across all business lines and segments of VIG. In motor third-party liability (+18.8%), other property and casualty insurance (+15.2%) and health insurance (+11.6%), premium growth is in the double digits. The strong premium growth was driven primarily by the Czech Republic (+Euro 103 mn) and Extended CEE (+Euro 148 mn) segments, and here in particular Romania, the Baltic states, Serbia, Ukraine and Hungary. At Euro 123.8 mn, profit before taxes was down by around 3.3% on the same period of the previous year. This is due to the precautionary measures taken in relation to the ongoing war in Ukraine, which have reduced the financial result. The financial result (excl. the result from at-equity consolidated companies) was EUR 148.1 million in the first quarter of 2022, which is 15.7% less than in the same period of the previous year. Net profit was Euro 91.3 min, which is 7.7% below the previous year. "Looking at 2022 as a whole, we expect operating performance to remain positive, buoyed by our strong capital position, our diverse business model and the optimisation measures that we have been consistently implementing for years”, explains Elisabeth Stadler, CEO of Vienna Insurance Group.
VIG: weekly performance: -1.07%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (17/05/2022)

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