Atotech (NYSE: ATC), a leading specialty chemicals technology
company and a market leader in advanced electroplating solutions,
today announced that it has filed its 2021 annual report on Form
20-F, including its audited financial statements for the year ended
December 31, 2021, with the U.S. Securities and Exchange Commission
on EDGAR. The Form 20-F is also available under the Investor
Relations section of Atotech’s website and a hard copy will be
provided to shareholders free of charge upon written request to
investor.relations@atotech.com.
Atotech’s audited financial statements for the full-year ended
December 31, 2021 are consistent with the unaudited full-year 2021
financial results reported by the company on April 4, 2022.
Highlights include:
- Record full-year 2021 revenues of $1.5 billion, an increase of
21% over the prior-year period, including chemistry organic revenue
growth of 11%;
- 2021 net income of $7.5 million, compared to a net loss of $289
million in 2020, the latter including impairment charges of $279.5
million of the company’s GMF segment as a result of changed market
conditions caused by the COVID-19 pandemic;
- Record 2021 Adjusted EBITDA of $458 million, a 26% increase
over the prior-year period;
- Year-end net debt leverage decreased to 2.8x.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains “forward-looking statements” within
the meaning of the federal securities laws, including Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In this context,
forward-looking statements often address expected future business
and financial performance and financial condition, and often
contain words such as “expect,” “anticipate,” “intend,” “plan,”
“believe,” “seek,” “see,” “will,” “would,” “target,” and similar
expressions and variations or negatives of these words.
These forward-looking statements, which are subject to risks,
uncertainties, and assumptions about us, may include projections of
our future financial performance, our anticipated growth
strategies, and anticipated trends in our business. These
statements are only predictions based on our current expectations
and projections about future events. There are important factors
that could cause our actual results, level of activity, performance
or achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements, and such differences could be material.
We undertake no obligation to publicly update or revise any
forward-looking statements to reflect subsequent events or
circumstances.
More information on potential factors that could affect
Atotech’s financial results is available in “Forward-Looking
Statements”, the “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” within
Atotech’s most recent Annual Report on Form 20-F, and in other
documents that we have filed with, will file with, have furnished
to, or will furnish to the U.S. Securities and Exchange Commission
(the “SEC”), and such factors include, but are not limited to: the
uncertainty of the magnitude, duration, geographic reach, impact on
the global economy of the COVID-19 pandemic, as well as the current
and potential travel restrictions, stay-at-home orders, and other
economic restrictions implemented to address it; uncertainty,
downturns, and changes in our target markets; foreign currency
exchange rate fluctuations; reduced market acceptance and inability
to keep pace with evolving technology and trends; loss of
customers; increases in costs or reductions in the supplies of raw
materials that may materially adversely affect our business,
financial condition, and results of operations; our ability to
provide products and services in light of changing environmental,
health and safety, product liability, financial, and other
legislation and regulation; our failure to compete successfully in
product development; our ability to successfully execute our growth
initiatives, business strategies, and operating plans; whether the
secular trends we expect to drive growth in our business
materialize to the degree we expect them to, or at all; material
costs relating to environmental and health-and-safety requirements
or liabilities; underfunded defined benefit pension plans; risk
that the insurance we maintain may not fully cover all potential
exposures; failure to comply with the anti-corruption laws of the
United States and various international jurisdictions; tariffs,
border adjustment taxes, or other adverse trade restrictions and
impacts on our customers’ value chains; political, economic, and
legal uncertainties in China, the Chinese government’s control of
currency conversion and expatriation of funds, and the Chinese
government’s policy on foreign investment in China; regulations
around the production and use of chemical substances that affect
our products; the United Kingdom’s withdrawal from the European
Union; weak intellectual property rights in jurisdictions outside
the United States; intellectual property infringement and product
liability claims; our substantial indebtedness; our ability to
obtain additional capital on commercially reasonable terms may be
limited; risks related to our derivative instruments; our ability
to attract, motivate, and retain senior management and qualified
employees; increased risks to our global operations including, but
not limited to, political instability, acts of terrorism, taxation,
and unexpected regulatory and economic sanctions changes,
including, for example, the recent Russia/Ukraine crisis and
resulting sanctions against Russia and its economy and other
impacts on the global economy, among other things; natural
disasters that may materially adversely affect our business,
financial condition, and results of operations; the inherently
hazardous nature of chemical manufacturing that could result in
accidents that disrupt our operations and expose us to losses or
liabilities; damage to our brand reputation; Carlyle’s ability to
control our common shares; risks relating to the pending
acquisition of Atotech by MKS Instruments, Inc. (the “MKS
Transaction”), including that such transaction may not be
consummated; any statements of belief and any statements of
assumptions underlying any of the foregoing; and other factors
beyond our control.
Additional Information and Where to Find It
Shareholders may obtain a free copy of the scheme document
published by Atotech on September 28, 2021 in relation to the MKS
Transaction (the “Scheme Document”) and other documents Atotech
files with the SEC (when available) through the website maintained
by the SEC at www.sec.gov. The Scheme Document is also available
free of charge on Atotech’s investor relations website at
investors.atotech.com together with copies of materials it files
with, or furnishes to, the SEC.
No Offer or Solicitation
This communication is for information purposes only and is not
intended to and does not constitute, or form part of, an offer,
invitation or the solicitation of an offer or invitation to
purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities, or the solicitation of any vote or
approval in any jurisdiction, pursuant to the proposed MKS
Transaction or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law.
The proposed MKS Transaction will be implemented solely pursuant
to the scheme of arrangement, subject to the terms and conditions
of the definitive agreement between MKS Instruments, Inc. and
Atotech, dated July 1, 2021, which contains the full terms and
conditions of the proposed MKS Transaction.
Non-IFRS Financial Measures
This communication contains certain non-IFRS financial measures
designed to complement the financial information presented in
accordance with IFRS because management believes such measures are
useful to investors. However, our use of these non-IFRS financial
measures may vary from that of others in our industry. Our non-IFRS
metrics have limitations as analytical tools, and you should not
consider them in isolation or as alternatives to consolidated net
income (loss) or other performance measures derived in accordance
with IFRS as measures of operating performance, operating cash
flows or liquidity. The Company believes that these measures are
important and supplement discussions and analysis of its results of
operations and enhances an understanding of its operating
performance. See the Appendix for a reconciliation of the non-IFRS
financial measures.
About Atotech
Atotech is a leading specialty chemicals technology company and
a market leader in advanced electroplating solutions. Atotech
delivers chemistry, equipment, software, and services for
innovative technology applications through an integrated
systems-and-solutions approach. Atotech solutions are used in a
wide variety of end-markets, including smartphones and other
consumer electronics, communications infrastructure, and computing,
as well as in numerous industrial and consumer applications such as
automotive, heavy machinery, and household appliances.
Atotech’s team of 4,000 experts in over 40 countries generated
revenues of $1.5 billion in 2021. Atotech, headquartered in Berlin,
Germany, has manufacturing operations across Europe, the Americas,
and Asia. With its well-established innovative strength and
industry-leading global TechCenter network, Atotech delivers
pioneering solutions combined with unparalleled on-site support for
over 8,000 customers worldwide. For more information about Atotech,
please visit us at atotech.com.
Contacts:
Susanne Richter
+49 30 349 85 418
press@atotech.com
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