S&T AG registered in 2013 its fifth record profits in a row

Tuesday, 25th March 2014

Austria

consolidated income rises to a record EUR 11.9 million (2012: EUR 9.4 million)
at EUR 337.9 million, revenues at previous year's level (2012: EUR 339.5 million)
net indebtedness further reduced to EUR 9.4 million (2012: EUR 14.9 million)
in a corporate first, payout of dividend proposed - 6 cents per share

Linz, 25.03.2014. S&T AG (www.snt.at) increased in financial year 2013 its consolidated income by 26%. This rise from 2012's EUR 9.4 million to EUR 11.9 million made 2013 the fifth year in a row that the company surpassed the previous year's total. At 30 cents, earnings per share in 2013 were up 15% over the previous year's 26 cents. At EUR 337.9 million, revenues were at the previous year's level of EUR 339.5 million.

The Appliances segment contributed EUR 7.6 million (EUR 1.6 million of that from acquisition-caused bad will) to the total consolidated income, as compared to the previous year's EUR 4.1 million. The Services segment achieved earnings of EUR 4.5 million in 2013 (2012: EUR 5.6 million, of that some EUR 1.5 million from a positive effect of restructuring). The Products segment nearly broke even, recording a slight loss of EUR -0.2 million (2012: EUR -0.3 million). Cost cuts made in the first year after the merger contributed essentially to earnings.

Operative cash flow of EUR 11.1 million (2012: EUR 12.3 million) helped reduce the company's net indebtedness from 2012's EUR 14.9 million to 2013's EUR 9.4 million. This positive development of the liquidity situation will cause the Managing and Supervisory Boards to propose at the company's annual general meeting the paying out to shareholders of a tax-free dividend of 6 cents per share.

The positive development of earnings also enabled the augmenting of consolidated equity, which amounted to a total of EUR 71.2 million in 2013 (2012: EUR 63.1 million). The equity rate came to 32.4%, up from 2012's 29.6%.

S&T had purposefully entered and established itself during the past few years in IT's fast-growing markets. This has been accomplished by the company's offering such new technology-based solutions as “SteelCloud” (an especially secure cloud storage solution), as “SkyScraper” (a private cloud appliance used by SMEs - small and medium-sized enterprises), and as “smart energy” solutions enabling the deployment of intelligent and ecologically-friendly electricity grids. These advances have facilitated S&T's taking a leading role in a range of vertical markets. These accomplishments will allow S&T to pursue in 2014 its course of growth. The company is also planning to make acquisitions of that are active in attractive fields of business.

S&T's management expects the Group to achieve in 2014 sales of at least EUR 375 million. Profits will grow correspondingly, and are forecast to come to more than EUR 12 million. The business done until now in the current first quarter of 2014 has confirmed the forecasts for the year.