S&T AG

EANS-News: S&T AG achieves rises in sales and earnings in the first six months of 2015 - gross margin increasing strongly

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6-month report

* Sales rise by 14% to EUR 188.2 million (PY: EUR 164.8 million)
* Gross margin increases to 36.6% (PY: 32.9%)
* Consolidated income rises by 21% to EUR 6.0 million (PY: EUR 4.9 million)
* Orders backlog grows even larger to EUR 171.8 million (PY: EUR 106.5 million)

 
Linz, 05.08.2015. S&T AG (www.snt.at) was able to accelerate its growth of sales
and earnings in the second quarter of 2015. Sales increased to EUR 95.4 million,
as opposed to EUR 85.6 million in the previous year's period of comparison,
corresponding to a rise of 11.5%. Corresponding to the growth in sales, gross
margin rose even more strongly, climbing to EUR 35.5 million (37.2%), as opposed
to EUR 28.5 million (33.3%) in 2014. The growth joined with the costs whose
increase arose from the entry into the smart energy market in enabling the
achieving of an EBITDA of EUR 5.0 million, as opposed to EUR 5.2 million in the
previous year. The consolidated income amounted to EUR 3.3 million, as opposed
to EUR 2.5 million in 2014.
Sales in the first six months of 2015 came to EUR 188.2 million, as opposed to
EUR 164.8 million in the previous year's period of comparison. Manifesting the
portfolio mix, which is heavy on higher-margin items, gross margin amounted to
EUR 69.0 million (36.6%), as opposed to EUR 54.2 million (32.9%) in the first
six months of 2014. EBITDA increased to EUR 10.8 million (PY: EUR 10.0 million).
This led as a whole to a 21% rise in consolidated income, which amounted to EUR
6.0 million (PY: EUR 4.9 million). Earnings per Share amounted to 13 cents, as
opposed to 12 cents in the first half of 2014.
Strongest driver of growth were the "Appliances Security" and "Appliances Smart
Energy" segments. This was partially caused by the acquisitions made in 2014. In
the first six months of 2015, the sales achieved in the two segments increased
from EUR 26.2 million to EUR 54.6 million.  "Appliances Smart Energy" as a new
segment recorded start-up-losses of EUR 1.0 million in the first six months of
2015, after it recorded profits of EUR 0.1 million in the previous year's period
of comparison. The "Appliances Security" segment, conversely, recorded profits -
EUR 4.8 million (PY: EUR 3.9 million) - exceeding those planned for it. The
positive development in the "Services Eastern Europe" segment will accelerate in
the months to come. This is due to the large amount of orders booked in the
second quarter.  The "Services Germany, Austria and Switzerland" segment
registered in the first six months of 2015 - in a change - positive operating
results. This result came despite its sales having declined - as had been
planned - by EUR 8 million (less low-margin hardware).
The operative cash flow came in the second quarter to EUR 16.0 million. This
enabled the near-offsetting of the negative cash flow registered in the first
quarter of EUR 17.0 million. Cash and cash equivalents amounted to EUR 36.9
million, as compared to EUR 39.5 million as of 31.12.2014 and EUR 26.8 million
as of the commencement of the quarter. Financial liabilities came to EUR 47.8
million (31.12.2014: EUR 41.0 million and EUR 47.1 million as of the beginning
of the quarter), whereas next to the acquisitions investments into the company's
headquarters had been paid from existing cash and credit lines. The equity
increased as of 30.6.2015 to EUR 93.0 million, as opposed to EUR 89.7 million as
of 31.12.2014. The equity rate amounted to 35.8% (31.12.2014: 32.9%).
The growth being registered by the "Appliances Security" and "Appliances Smart
Energy" technology segments is causing management to expect for the current
financial year for the Group as a whole a strong 20% rise in sales, which will
come to EUR 465 million. Also forecast for financial year 2015 is a consolidated
income of EUR 15 million - notwithstanding start-up losses being experienced in
the smart energy segment. Planned for 2016 are double-digit sales growth and
profits outpacing that rise. The orders backlog has increased still further, and
now comes to EUR 172 million. The amount of projects in the pipeline amounts to
EUR 708 million - a record. These facts emphasize the feasibility of these
ambitious objectives for growth.
 
On S&T AG:
S&T AG (www.snt.at, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is a high-tech
corporation. It employs some 2,300 employees, and maintains subsidiaries and
offices in 19 countries. S&T AG provides IT systems. It is listed on the
Frankfurt Stock Exchange's Prime Standard segment. These systems are comprised
in the company's comprehensive portfolio of IT solutions and services. These
make S&T one of the leading suppliers in Central and Eastern Europe. S&T is a
renowned manufacturer of products featuring proprietary technologies. Its wide-
ranging portfolio includes proprietary developments in such areas as appliances
and cloud security. S&T commenced in 2014 the development of its Smart Energy
business area. Especially thanks to its Networked Energy Services Corporation,
S&T is among the world's leading suppliers of smart grid technologies.

Further inquiry note:
ir@snt.at; +431801911125;

end of announcement                               euro adhoc 
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company:     S&T AG
             Industriezeile  35
             A-4021 Linz
phone:       +43 664 6119214
FAX:         +43 1 80191 1290
mail:     ir@snt.at
WWW:      www.snt.at
sector:      Computing & Information Technology
ISIN:        AT0000A0E9W5, DE000A1HJLL6
indexes:     
stockmarkets: regulated dealing/prime standard: Frankfurt 
language:   English
 



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