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euro adhoc: S&T System Integration&Technology Distribution AG
S&T Tops Sales Forecasts for 2003 (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
- Persistent Focus on Services to be Continued
Record Sales 
After a strong 4th quarter S&T was able to surpass sales forecasts
for the 2003 business year. Sales rose from EUR 169.4 million in the
previous year to EUR 204.5 million, an increase of 21 percent.
Persistent transition from hardware supplier to solutions provider 
In 2003 S&T continued to follow its strategy of focussing on
services. Business Solutions accounted for 19 percent of total sales
or EUR 38.9 million in 2003, an increase of 126 percent on the
previous year. (EUR 17.2 million).
Sales in the "new" EU states 
50% of S&T sales were generated in those countries which will join
the European Union on May 1st, 2004.
EBIT/EBITDA
The successful strategy of expansion in other CEE countries
necessitated higher expenditures on employees and new marketing
structures. Despite the positive increase in sales, EBIT in 2003
changed from EUR 2.6 million to EUR 0.2 million. This was mainly due
to the almost complete write-down of the Turkish subsidiary due to
the continued recession there. The EBITDA 2003 increased from EUR 7.6
million by 8 percent to EUR 8.2 million.
Improved Financial Position 
Cash flow from business activities rose from minus EUR 13.0 million
in 2002 to plus EUR 10.4 million in 2003. The reduction in net
working capital was a major contributing factor to this development.
Net debts declined from EUR 11.1 million at the end of 2002 to EUR
5.1 million in the 2003 business year.
Positive Outlook 
S&T is convinced that the East European markets offer excellent
opportunities for growth and years ago took the necessary steps to
build up a strong position there. By focussing solely on CEE and
pursuing a strategy of providing services S&T is well prepared to
seize these opportunities. Due to the restructuring measures
initiated in 2003 and the goodwill amortizations brought about by
market forces, a significant improvement in net earnings can be
expected even if there is only a moderate increase in EBITDA.
For the complete filing please visit www.snt.at.
Conference Call
S&T´s management is available for a conference call on March 30 2004
at 04.00 p.m. Central European time, UK: 03.00 p.m., US: 10.00 a.m.
Eastern time. To take part in the conference call, please dial 0049
69 50 957 8439, for Austrian participants please dial 02682 2059657 a
few minutes prior to the start time.
For your convenience, an instant replay will be available from March
30 2004 at 06.00 p.m. Central European time until April 3rd at 06.00
p.m. Central European time. The replay telephone number is: 0049 69
50 957 9999 and the conference reference number is 258465. If you
have any questions please call 0049 69 50500600 for assistance.
end of announcement        euro adhoc 30.03.2004

Further inquiry note:

Karl Tantscher
Chief Executive Officer
mailto:karl.tantscher@snt.at

Margit Hermentin
Investor Relations
mailto:margit.hermentin@snt.at

S&T System Integration & Technology Distribution AG
Gunoldstrasse 16, 1190 Vienna, Austria
Phone: +43 1 367 80 88 0
Fax: +43 1 367 80 88 99
mailto:snt@snt.at
http://www.snt.at/

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

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