euro adhoc: S&T System Integration&Technology Distribution AG
S&T
First Quarter Results 2004
Clear Signs of a Successful Turnaround
The IT service provider specialising in Central and Eastern Europe is
heading for another record year (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
April 27, 2004, Vienna, Austria - S&T System Integration & Technology Distribution AG (ISIN AT0000905351) got off to a successful start to the new financial year with outstanding first quarter results. The results are a clear confirmation of the positive trend in the fourth quarter of 2003.
Sales Rise by 18 Percent First quarter sales rose to EUR 53.4 million from EUR 45.1 million in the same period in 2003.
Consistent Focus on Services: 76 Percent Increase In the service segments sales rose by 76% from EUR 10.6 million to EUR 18.6 million. The Business Solutions unit in particular posted an extraordinary 138% increase of EUR 4.5 million in the previous year to EUR 10.7 million in the first quarter of 2004.
Gross Margin Climbs to 27.2 Percent The higher than average growth in the services business led to an improvement in the gross margin from 25.5% in 2003 to 27.2%.
EBIT up by 9 Percent EBIT improved by some 9 percent from EUR 0.88 million to EUR 0.96 million in the first quarter of 2003.
Positive Outlook The latest market studies indicate continuing higher than average growth in the markets in which S&T is active. Management is therefore confident that a long-term positive turnaround is taking place. This year's result is expected to be a significant improvement on last year's.
Consolidated income statement (all amount in EUR ´000)
~ Period from 01.01., ended 1.03.2004 31.03.2003 %
Sales Business Solutions (BS) 10.660 4.472 138% Enterprise Systems (ES) 30.919 32.363 -4% Customer Support (CS) 7.160 5.537 29% Managed Services (MS) 805 578 39% Medical (MED) 3.844 2.124 81% Total Sales 53.388 45.074 18%
Other operating income 471 448 5% Total revenues 53.859 45.522 18%
Merchandise, spare parts and purchased services (38.876) (33.569) 16% Staff costs (8.546) (5.994) 43% Other operating expenses (4.134) (3.764) 10% Total operating expenses (51.556) (43.327) 19%
Profit from operations before depreciation and amortization (EBITDA) 2.303 2.195 5%
Depreciation and amortization (797) (653) 22%
Profit from operations after depreciation/amortization and before amortization of goodwill (EBITA) 1.506 1.542 -2%
Amortization of goodwill (548) (662) -17% Profit from operations (EBIT) 958 880 9%
Service segments (BS + CS + MS) 18.625 10.587 76% ~ Conference Call S&T´s management is available for a conference call on April 27 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 April 27 2004 at 06.00 p.m. Central European time until May 04 2004 at 06.00 p.m. Central European time. The replay telephone number is: 0049 69 50 957 9999 and the conference reference number is 253489. If you have any questions please call 0049 69 50500600 for assistance.
About S&T - www.snt.at S&T is a leading provider of IT solutions for customers in 20 countries in Central, Eastern and Southern Europe. The company provides consulting services, software development, IT solutions implementation and support services around the clock to the most demanding customers in telecommunication, banking, energy production and distribution, government and health care. ~
end of announcement euro adhoc 27.04.2004
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