Quanmax AG raises its targets for 2011

Quanmax AG / Key word(s): Quarter Results28.10.2011 07:58Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Quanmax AG raises its targets for 2011 - new target turnover of 150 million Euros, profits expected to rise to 7 million Euros (previously 5.6) - Gross margin raised by 3.9 percentage points to 30.5 percent compared to 2010 - The EBITA rose to 5.4 million Euros in the first 9 months (2.6 million Euros in the previous year)Linz, 28.10.2011. Quanmax was successful in further increasing the turnoverand profits in the third quarter of the fiscal year 2011. The turnoverduring the first 9 months increased by 28.8 percent compared to the sameperiod in 2010, i.e., from 51.4 to 66.2 million Euros. The positive growthwas even more evident in the earnings: The operating earnings (EBITA) was5.4 million Euros after the first nine months of 2011 and is more thantwice that of the earnings compared to the same period in 2010 (2.6 millionEuros). The net earnings was 3.9 million Euros as against 2.5 million Eurosin the previous year. The profit (30.5 percent after nine months) hassignificantly increased because of the high gross margin which has crossed30 percent for the first time and is 3.9 percentage points higher comparedto the previous year (26.6 percent).The equity capital was 41.6 million Euros at the end of the third quartercompared to 33.4 million Euros at the beginning of the year. Thiscorresponds to an equity ratio of 57.8 percent. The cash balance was 13.1million Euros as on 30th September 2011.The strategic goal of tapping new sales markets in Eastern Europe has beenachieved in the meantime. A binding agreement was signed with S&T AG,Vienna, in September to obtain a controlling majority. S&T AG generatesmost of its turnover by providing IT services in Eastern Europe and henceoffers extensive synergies for Quanmax both in terms of the productportfolio as well as growing CEE sales markets. The acquisition is subjectto deferred conditions, in which S&T's annual shareholders' meeting hasconsented to the acquisition on 25th October 2011.The target turnover for the current fiscal year has now been significantlyrevised to 150 million Euros. The increase is due on two reasons: Firstly,the growth rate in the IT solutions segment for B2B customers has picked upfurther which is sufficient to exceed the initial target turnover of 100million Euros. Secondly, the acquisition of S&T AG can be expedited earlierthan planned so that the new subsidiary can be partially consolidated inthe fourth quarter of 2011 itself. The net profit target is now 7 millionEuros for 2011 (previously 5.6). Most of this profit will be achieved byQuanmax AG but even S&T will break even in the fourth quarter.The medium term and ambitious goal of Quanmax AG is to become one of theleading IT companies in the German-speaking countries and in EasternEurope.About Quanmax AG:Quanmax AG (ISIN AT0000A0E9W5/WKN A0X9EJ) which is listed in the PrimeStandard of the Frankfurt Stock Exchange with its brands of chiliGREEN,MAXDATA and SecureGUARD is one of the largest distributors of IT productsin Austria and has been present for some time in the vertical markets ofGermany and Switzerland with its new business segment of IT-Solutions. Byacquiring the IT service provider S&T AG, Quanmax is now expanding itspresence into the emerging regions of Eastern Europe.28.10.2011 DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language: EnglishCompany: Quanmax AG Industriezeile 35 4021 Linz AustriaPhone: +43 (732) 7664 - 0Fax: +43 (732) 7664 - 801E-mail: ir@quanmax.agInternet: www.quanmax.agISIN: AT0000A0E9W5WKN: A0X9EJListed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------