Atotech Ltd. (ATC) Reports Q4 Loss of $0.12 on Revenues of $365M

Atotech Ltd. (NYSE: ATC) reported Q4 EPS of ($0.12), versus ($0.38) reported last year. Revenue for the quarter came in at $365 million, versus $310.4 million reported last year.

• Reports fourth quarter revenue of $365 million, an increase of 18% over the fourth quarter of 2019, including organic chemistry revenue growth of 5%
• Delivers net income of $22 million, up significantly over the fourth quarter of 2019
• Posts adjusted EBITDA of $106 million, a 5% increase over the fourth quarter of 2019
• Reduces net leverage to 5.1x at year end 2020 (before IPO completion on February 8, 2021)
• Expects total full year 2021 organic revenue growth to be in the range of 10% to 12%, including full year organic chemistry revenue growth in the range of 8% to 9%
• Anticipates full year 2021 adjusted EBITDA1 to be in the range of $405 million to $425 million, an increase of approximately 14%, at the mid-point

Geoff Wild, Atotech’s Chief Executive Officer said, “We are very pleased with our fourth quarter performance. We leveraged the continued strength of our Electronics end-markets, as well as the ongoing recovery in global automotive markets, to deliver strong organic growth. In particular, demand for our comprehensive solutions addressing the technical requirements related to the 5G smartphone replacement cycle, including next-generation semiconductor packaging, was robust. Other areas of strength include 5G infrastructure, automotive electrification, and growing demand for sustainable solutions in surface-finishing applications.”

“These secular trends not only provided a constructive backdrop in the fourth quarter, but also present a multi-year opportunity to grow our business, expand share, and deliver strong returns to our shareholders.”

“Throughout 2020, we continued to invest in our business and made decisions in the long-term best interests of our customers, while carefully managing costs.”

“We completed a new chemistry manufacturing facility in China, invested in multiple digitalization initiatives, including IoT solutions, and maintained our highly trained customer-facing workforce. As we enter this high-growth period in our industry, we believe these decisions have positioned Atotech to take advantage of the many market opportunities in front of us.”

For earnings history and earnings-related data on Atotech Ltd. (ATC) click here.

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