euro adhoc: S&T System Integration&Technology Distribution AG
S&T
announces preliminary results for third quarter 2003 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
- EBIT in 3rd quarter amounts to minus EUR 1.4 mill - Total sales in 3rd quarter rose 2 percent to around EUR 44 mill - Sales in higher value solutions segment rose 140 percent from EUR 4 mill up to EUR 10 mill - EBITDA remains positive
Vienna, 14 October 2003 - The management of S&T System Integration & Technology Distribution AG (Vienna Stock Exchange: SNT; OTC: STSQY) today announced the preliminary results for the quarter ended 30 September 2003. According to the figures currently available, third quarter sales were around EUR 44 mill. EBIT comes out at minus EUR 1.4 mill. EBITDA remains positive.
The unexpected results come from weak sales in the summer months and the postponement of planned projects into the fourth quarter. Synergy effects from the integration of the Fujitsu-Services acquisitions and restructuring measures in Turkey did not sufficiently reduce costs in the third quarter.
At the same time, there has been a pleasing shift in sales toward high value services. Sales in the higher margin business solutions segment rose to EUR 10 mill, an increase of 140 percent over the same period in the previous year.
As planned, the workforce was reduced to 1190 at the end of the third quarter of 2003 from 1214 at the end of the second quarter of 2003. The ongoing restructuring measures will lead to further reductions in the fourth quarter in 2003.
Detailed information will be released as planned on 28 October 2003.
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 14.10.2003
Further inquiry note:
Karl Tantscher
Chief Executive Officer
mailto:karl.tantscher@snt.at
Henriette Lininger
Investor and Public Relations
mailto:henriette.lininger@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, NECI, ViDX
Börsen: Wiener Börse AG / official dealing
Nasdaq Europe / official dealing