EANS-Adhoc: S&T AG substantially expands Appliances segment and smart energy
portfolio
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers/Acquisition
06.06.2014
- Acquisition of stake in Affair OOO
- Addition to S&T Group's workforce of some 600 employees - of which 400
engineers
- Consolidated revenues set to rise in 2015 to EUR 440 million
Linz, 06.06.2014. S&T AG (www.snt.at) signed today a contract for the
acquisition of 48% of the shares of Affair OOO. The company is headquartered in
Moscow, Russia. Affair OOO serves as a holding which has a 74.5% stake in its
operating subsidiaries. They have been active for many years in the areas of
smart energy and software development. The group employs some 600 employees, of
whom most are highly-qualified engineers. This acquisition has set forth S&T's
development of the smart energy sector of its Appliances segment, which forms a
key part of its strategy for growth.
The acquisition enhances both the S&T Group's potential to add technological
value and its footprint in the Eastern European market. Affair OOO will ramp up
the operations of S&T AG's Appliances and Services segments. Affair OOO group's
annual revenues amount to some EUR 70 million. The acquisition of Affair OOO
gives rise to synergies also involving ubitronix solution GmbH, which was
recently acquired by S&T AG. These are in the area of smart energy solutions.
S&T AG was joined by Affair's local management in the acquiring of the shares in
Affair OOO from Kontron AG. The price for the acquisition of this 48% stake in
Affair OOO came to EUR 5.87 million. The closing will take place upon the
securing of approvals from fair trade authorities in Austria and Russia.
The exercising of an option to acquire a further 3% of the voting rights in
Affair OOO by S&T AG will cause Affair to be fully consolidated in the annual
financial accounts of the latter after the closing. This acquisition causes
planned Group's revenues to amount to EUR 440 million in 2015. The acquisition's
costs of procurement and integration will initially encumber S&T's consolidated
income for 2014 by some EUR 0.8 million. S&T's business in the segment
Appliances has been good in 2014. This is causing management to maintain its
forecast for the year's consolidated income to rise to EUR 12 million. Affair
OOO is expected to start in 2015 to the increasing by EUR 3 million of S&T's
consolidated EBITDA.
On S&T AG
S&T AG (ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is listed on the Prime Standard
segment of the Frankfurt Stock Exchange. The company has some 1,550 (in the
future: 2,100) employees and offices in 17 countries in Central and Eastern
Europe. S&T is one of the three largest providers of IT systems in Austria and
in Eastern Europe. One of S&T's main assets is the exceptional breadth of its
portfolio of products and services. Many of these feature proprietary
technologies. These are for such areas as cloud security, smart energy and
mobile IT. This portfolio is supplied throughout Central and Eastern Europe.
Further inquiry note:
Valentin Trummer, +43 699 13333309
end of announcement euro adhoc
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issuer: 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