EANS-News: S&T AG: exceeding targets for 2014

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annual report

* Revenues from sales reached EUR 385.5 million (PY: EUR 337.9 million)
* Consolidated income showed a strong y-on-y rise to EUR 14.0 million (PY: EUR
  11.9 million)
* Operating cash flow nearly doubled to EUR 20.6 million (PY: EUR 11.1 million)
* Proposal to increase dividend to 7 cents
* High backlog of EUR 157 million (PY: 97 million) sets course for strong growth
  in 2015

Linz, 01.04.2015. S&T AG (www.snt.at) is setting forth its course of growth.
Powered by a strong fourth quarter, S&T's revenues from sales rose more than 14%
in financial year 2014, going from EUR 337.9 million (2013) to EUR 385.5 million
(2014). S&T thus exceeded the target of EUR 375 million set for the year.
The "Services EE" segment achieved sales of EUR 217.2 million (PY: EUR 199.7
million). In addition to this, it was once more S&T's "technologies segments"
that drove corporate growth. The two Appliances segments registered sales of EUR
78.8 million (PY: EUR 41.6 million), of which EUR 28.8 million stemmed from the
newly-created "Appliances Smart Energy" one. In 2014, the Services "Germany,
Austria and Switzerland" segment (in 2013: "Products") scaled down its low
margin business. Its sales accordingly declined as planned to EUR 89.6 million
(PY: EUR 96.7 million), with its gross margin increasing from 19.3% (2013) to
22.3% (2014).
Making this growth even more gratifying is the fact that the company's
indicators of earnings developed so positively, notwithstanding the expansion of
scope of business and the losses ensuing from the starting up of the "smart
energy" sector. Gross margin rose slightly to 33.0% (PY: 32.9%). Costs did not
rise as fast as sales. This, in turn, caused EBITDA to increase to EUR 22.9
million (PY: EUR 20.1 million). Consolidated income increased 17% to EUR 14.0
million (PY: EUR 11.9 million). Earnings per share rose to 32 cent (PY: 30
cent). Upon being adjusted for amortization-caused expenditures, the earnings
per share come to 37 cent (PY: 36 cent).
Cash flow from operations came to EUR 20.6 million (PY: EUR 11.1 million). The
inflows of liquidity enabled the financing of the acquisitions concluded and the
reduction of financial liabilities. Thanks to this, the net debt declined
substantially to EUR 1.5 million (PY: EUR 9.4 million). These positive
developments in liquidity are causing S&T's Management and Supervisory Boards to
propose to the general assembly of shareholders the paying out of a dividend of
7 cent per share, a 15% increase over 2013.  The dividend is treated as a
repayment of capital for Austrian income tax purposes according to Section 4
Subsection 12 of the Austrian Income Tax Act.
The positive development of corporate finances and earnings manifested
themselves in the performance of the equity, which rose to, as of 31.12.2014,
EUR 89.7 million (PY: EUR 71.2 million).
Management expects revenues to rise 20% to EUR 465 million in 2015. The course
of strong growth will be set forth in 2016. These forecasts are based upon the
amount of the backlog - EUR 156.7 million as of 31.12.2014 (PY: 97.2 million
EUR) - and the project pipeline, which came as of 31.12.2014 to EUR 644.4
million (PY: EUR 308.1 million). The new projects to be implemented by the Smart
Energy segment are expected to be a prime source of this growth. Management does
not expect this segment's revenues - due to development and start-up costs - to
make a significant contribution in 2015. Management does expect the segment to
become highly profitable in 2016.
Management's plans foresee the Group's achieving in 2015 consolidated income of
at least EUR 15 million, the encumbrances in the smart grid sector
notwithstanding. Income will then substantially rise in 2016.The development of
business in the first quarter of 2015 has provided initial confirmation of the
prediction for the 2015.
On S&T AG:
S&T AG (www.snt.at, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is a technology
company. It employs some 2,200 staff members. They work for the company's
offices, which are located in 20 countries around the world. The
comprehensiveness of S&T's portfolio of IT systems, services and solutions makes
the company one of the leaders in the field in Central and Eastern Europe. S&T
is a renowned IT manufacturer. Its portfolio comprises IT products, many of them
featuring proprietary technologies used in the appliances and cloud security
sectors. In 2014, S&T started up its "Smart Energy" segment, which is now in the
process of being developed. Thanks especially to Networked Energy Services
Corporation (www.networkedenergy.com), S&T is among the world's leading
providers of smart grid technologies.

Further inquiry note:
ir@snt.at; +431801911125;

end of announcement                               euro adhoc 

company:     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
stockmarkets: regulated dealing/prime standard: Frankfurt 
language:   English

Original-Content von: S&T AG, übermittelt durch news aktuell

Weitere Meldungen: S&T AG

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