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S&T AG

EANS-Adhoc: S&T System Integration&Technology Distribution AG
S&T solutions and services business grew in 2008

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
annual report/Results for the fiscal year 2008
31.03.2009
Growth in quality as well as increased productivity Solutions and 
services projects made up 51 % of total sales at the S&T Group in 
2008 - which equates to a clear increase of 6 percentage points 
compared to 2007 and constitutes an important step toward achieving 
the strategic goals of the company. Total sales for the IT consultant
and service provider amounted to 513.4 million euros - close to the 
figure from the previous year (2007: 522.2 million euros / -2 %). In 
2008, S&T achieved an EBIT of 9.1 million euros (2007: 13.0 million 
euros / -30 %) and an EBITDA of 16.4 million euros (2007: 20.4 
million euros / -20 %). In 2009, S&T will make targeted use of its 
strengths and opportunities in order to continue the successful 
development of the company.
By 2011, S&T is aiming to achieve approximately 60 % of overall sales
from IT solutions and services. The results from the 2008 financial 
year provide a solid basis for achieving this, despite the difficult 
market conditions. In the Managed Services division (outsourcing and 
outtasking of infrastructure) alone, the business achieved sales of 
104.9 million euros, which represents growth of 21 % (2007: 86.5 
million euros). Sales in the field of software solutions and IT/SAP 
consulting (Business Solutions) rose by 5 % to reach 156.2 million 
euros (2007: 149.1 million euros). These increases have been attained
as a result of measures implemented to increase productivity, with 
employee numbers remaining constant in comparison to 2007.
The Enterprise Systems business division registered sales in 2008 of 
252.3 million euros (2007: 286.6 million euros / -12 %), with this 
decrease from the previous year primarily being the result of 
exchange rate volatility in the second half of the year and the 
somewhat disastrous decline in the value of various currencies 
towards the end of the year, in particular the Ukrainian hryvnia, the
Hungarian forint and the Romanian leu. However, margins in this 
business division have continued to improve and its positive effect 
on the services and consulting business has been utilized. 
"Considering the poor overall economic development in 2008 we have 
attained respectable results, although they could certainly have been
better in the first half of the year. 2009 will be no less 
challenging, but we will tackle it with an aggressive approach," 
comments Christian Rosner, CEO S&T.
Good performances: Romania, Ukraine, Croatia and Japan With sales of 
155.2 million euros (-9 %), the S&T Central region* made the largest 
contribution to the group´s total sales in 2008, followed by DACH 
with 149.3 million euros (+6 %). The highest growth was achieved in 
the Asia region, with an increase of +8 % to 13.0 million euros, 
although the absolute values are still quite small. The Adriatic 
region remained stable with sales of 117.0 million euros (0 %), 
whereas sales decreased slightly in the East region to 78.9 million 
euros (-4 %), mainly because of the above mentioned currency issues. 
Rosner: "At the individual country level, Romania, Ukraine, Croatia 
and Japan in particular, as well as some smaller countries, have 
delivered outstanding contributions to the group results. The 
performances in Russia, Turkey, Hungary and the DACH region 
unfortunately came in below our expectations."
Balanced industry mix As in previous years, the largest contribution 
to the S&T Group´s sales came from orders in the manufacturing 
industry. In 2007, 26 % of sales were a result of projects for the 
manufacturing industry, and this figure grew to 33 % in 2008. Orders 
from companies such as Danone in Russia and Mondi Frantschach in 
Austria have contributed to this development. The share of group 
sales in the financial services industry dropped slightly, to 19 % 
from 21 % in 2007. Respective 15 % contributions to group sales were 
made by the field of retail trade (2007: 14 %), including projects 
for companies such as Spar Austria, M.video, and Direct Trade, and 
the field of telecommunications providers (2007: 17 %), including 
projects for operators such as Bulgarian Telecom and Kievstar GSM 
Ukraine. 12 % (2007: 15 %) of group sales were related to projects in
the field of public administration (numerous government ministries as
well as the postal services in Montenegro and Serbia and the state 
forestry agency in Poland) and 6 % (2007: 7 %) came from the area of 
energy suppliers and utilities, a figure which includes large 
projects for OMV and the China National Petroleum Corporation.
Balanced net result Although S&T could not entirely avoid the effects
of the economic downturn in 2008, as reflected by the EBIT of 9.1 
million euros (2007: 13.0 million euros / -30 %) and EBITDA of 16.4 
million euros (2007: 20.4 million euros / -20 %), the company could 
still achieve a balanced net result of -0.3 million euros (2007: 3.8 
million euros). The result was adversely affected primarily by 
project restructuring in the first half of the year, as well as 
exchange rate fluctuations and difficulties in obtaining financing 
for large projects. The gross margin developed positively, increasing
from 34 % in 2007 to 39 % in 2008, mainly as a result of the 
solutions and services business. "Our group has a solid foundation, 
and is secured in the mid-term with attractive financing conditions. 
The crisis offers us opportunities too, of course, and we want to 
make the most of these in order to gain more market share and to 
continue on our path of successful development. Nevertheless, strict 
cost control continues to be an important issue," states Rosner.
*S&T Regions: Central: Czech Republic, Hungary, Moldova, Poland, 
Slovakia, Ukraine Adriatic: Albania, Bosnia-Herzegovina, Croatia, 
Macedonia, Montenegro, Serbia, Slovenia East: Bulgaria, Romania, 
Russia, Turkey DACH: Austria, Germany, Switzerland Asia: China, Japan
end of announcement                               euro adhoc

Further inquiry note:

Gabriela Mair
Head of Corporate Communications
T: +43 1 367 80 88 1024
Mobil: +43 664 60191 1024
Gabriela.Mair@snt-world.com
www.snt-world.com

Branche: Computing & Information Technology
ISIN: AT0000905351
WKN:
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official market

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