24.10.2007 | Austria
S&T: Best 3rd quarter ever
Vienna, October 24, 2007 - The S&T Group has had the best 3rd quarter since the start of business. In the 3rd quarter of 2007, S&T achieved sales of €122.9 million, an increase of 8.5%. The sales in IT consulting and solutions projects (business area Business Solutions) developed exceptionally well and, with €39.4 million in Q3 2007, was twice as high as in the same period of the previous year. EBIT for Q3 2007 was €2.4 million, 62.3% higher than in Q3 2006. S&T expects further significant increases for the 2007 year end.
The S&T Group plans to double its business by 2010 and to generate more than 60% of its sales with IT consulting and solutions. The 2007 3rd quarter results bring the Group significantly closer to this strategic aim. Already almost half of the Q3 turnover (49.3%) comes from Business Solutions and Managed Services. The sales in Business Solutions alone doubled in the 3rd quarter of 2007 to €39.4 million. The Managed Services sector also made significant gains. With large outsourcing contracts, S&T achieved an increase in sales of 12.2%, with €21.2 million in the 3rd quarter. The sales in infrastructure business was €62.3 million in the 3rd quarter of 2007 and is therefore less than the previous year, as planned. In the 3rd quarter 2007, EBITDA rose by 50.5% compared to the previous year, to €4.4 million and EBIT rose by 62.3% to €2.4 million. “The 3rd quarter is usually difficult in our industry. However, it is clear that our strategy is effective. We have successfully pressed ahead with concentrating on the more profitable business, successively re-orienting our business mix and concentrating on our core markets. We are pleased with the 3rd quarter 2007”, says Christian Rosner, S&T CEO.
