Tous Actualités
Suivre
Abonner S&T AG

S&T AG

euro adhoc: S&T System Integration&Technology Distribution AG
Financial Figures/Balance Sheet
S&T ends the 2008 financial year with a good fourth quarter

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
11.02.2009
Services and consulting business continues to grow
At S&T, the 2008 business year was characterized by qualitative 
growth. Despite the global financial crisis, according to preliminary
figures the company increased the share of the solutions and services
business as a percentage of total sales to 51% (2007: 45%). In 2008, 
S&T achieved total sales of 512 million euros, an EBIT of 9.1 million
euros and an EBITDA of 16.4 million euros.
Despite the difficult market conditions, the S&T Group achieved sales
of 512 million euros in 2008 and thereby kept pace with the record 
year in 2007 (522.2 million euros). The development of sales figures 
in the solutions and services business was particularly pleasing and 
in accordance with the group´s strategy: the sales for Software 
Solutions and IT/SAP Consulting (Business Solutions) rose by more 
than 5% to 157 million euros (2007: 149 million euros) and the 
Managed Services sales (Outsourcing und Outtasking) increased 
outstandingly by almost 20% to 103 million euros (2007: 86 million 
euros). Thus, these two areas combined constitute 51% of total sales.
This increase was attained with the existing staff - an indication of
the success of the group´s productivity efficiency measures in these 
personnel-intensive fields. The Enterprise Systems business 
registered sales in 2008 of 252 million euros (2007: 287 million 
euros), further improved margins and increased its positive influence
on the services and consulting business. As IT equipment is primarily
settled in US dollars, around half of the decrease in sales in this 
area resulted from currency effects, due to the weakness of the 
dollar.
Profitable Q4 The fourth quarter, which is traditionally strong for 
the IT services sector, was also profitable in 2008 for S&T, although
the crisis was having a considerable effect on the IT market by the 
end of the year. In Q4 2008, S&T achieved sales of 150 million euros 
(Q4 2007: 170 million euros) and an EBIT of 4.1 million euros (Q4 
2007: 6.9 million euros). "In particular the fourth quarter turned 
out satisfactorily despite the economic downturn and despite internal
restructuring. During the course of the year we successively 
implemented packages of measures which were originally intended to 
contribute to an outstanding EBIT result. These have ultimately led 
to us achieving respectable and positive results", comments Christian
Rosner, CEO S&T.
Stable Position With an EBIT of 9.1 million euros (2007: 13 million 
euros) and an EBITDA of 16.4 million euros (2007: 20 million euros), 
S&T could not entirely avoid the effects of the economic downturn in 
2008. However, in view of the good initial position, the consistent 
application of the business strategy and the stability measures 
implemented, the management sees no reason for a depreciation of 
company value. The pre-tax results were weighed down by the general 
currency volatility in certain S&T countries as well as by the fall 
in value of the Ukrainian Hryvnia and Romanian Lei currencies. In 
all, a break-even net result can be expected for the 2008 financial 
year. "Considering the economic conditions and the development of the
IT market, we are satisfied overall with 2008. We had admittedly 
expected much better results in a number of countries, such as 
Russia, Hungary, China and Turkey, and somewhat better in DACH as 
well, but the majority of the countries fulfilled their goals 
outstandingly", says Rosner. In addition to exchange rate volatility,
the financing of large projects proved to be problematic due to the 
restrained attitude of banks. Extraordinary costs also arose in 2008 
due to the necessity for project reorganization in a number of cases 
in the first half of the year and the new organizational structure 
implemented in the group in the second half of the year. At the end 
of the year S&T employed 3,135 staff and therefore maintained stable 
staffing levels in comparison to 2007. Rosner: "We are well prepared 
for the hard times ahead and still see potential for us even in 2009,
due to consolidation in the market".
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

Plus de actualités: S&T AG
Plus de actualités: S&T AG