EANS-Adhoc: S&T System Integration&Technology Distribution AG / S&T results for first six months of 2010

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28.07.2010

S&T results for first six months of 2010:

• Revenues improved by 10% in Q2/2010 compared to Q1/2010
• Change at the top - Thomas Streimelweger succeeds Christian Rosner as CEO
• Dynamic infrastructure and outsourcing business - Infrastructure Solutions
segment raises sales by 3.5 % in 1H/2010 vs. 1H/2009
• Consulting business still unsatisfactory - Business Solutions segment sales
down 37.0% in 1H/2010 vs. 1H/2009
• Improved earnings development in Q2 following Q1

Differentiated sales development
After declining sales in previous quarters and in the turnaround phase, the S&T
group improved on both the revenue and the cost side. Sales in Q2/2010 increased
from EUR 82.7 million to EUR 91.0 million, compared to Q1.

Compared to the first six months of last year, the sales increase in the IS
segment by 3.5% to EUR 136.1 million compares to a decline in sales in the BS
segment by 37% to EUR 37.5 million. But also BS showed a sales increase of 10.7%
in Q2 2010 compared to Q1/2010.

The number of employees decreased in the first half from 2581 to 2406 FTEs, in
parallel to the personnel cost. Costs related to write-downs and provisions for
projects were reduced following improved receivables and project management.

Earnings
Consolidated EBITDA improved to EUR -2.2 million (Q1/2010: EUR -4.5 million),
whereas EBIT was up to EUR -3.5 million (Q1/2010: EUR -5.9 million). For the
first six months of 2010, EBITDA was EUR -6.8 million (compared to EUR +1.5
million in first six months of 2009), EBIT was EUR -9.4 million (compared with
EUR +1.5 million in first six months of 2009).

Financial Position
Net financial debt amounted to EUR 70.1 million at 30 June 2010 (from 51.8
million at 31 December 2009), which represents 37.7% (23.9%) of total assets.
Shareholders' equity decreased to EUR 23.0 million (after 33.4 million at 31
December 2009), which is 12.4% (15.4%) of total assets. The Group plans to
strengthen its equity capital.

Order situation
The order situation is stronger in Q2, but has not yet shown full impact on the
total turnover. The planned development of the services offering should be the
basis for subsequent long-term contracts and high-margin and know-how-dominated
projects which should further strengthen the financial situation. In the IS
segment S&T focuses on the expansion of our workplace management / virtual
desktop and data center services, outsourcing and cloud computing services. The
Group has openings for over 100 highly qualified employees.

Outlook
Through a set of comprehensive measures, S&T considers itself back in a good
position to harvest new business in the second half year of 2010. S&T expects a
good recovery in both segments and above all a strong Q4 in the IS segment.
Thomas Streimelweger, new CEO of S&T since 1 July 2010, has prioritized the
fastest possible return to the operational and bottom line profitability, which
shall be achieved in the fourth quarter.

Further inquiry note:
Mag. Michael Dvorak
Head of Investor Relations
T: +43 1 367 80 88 1020
Mobil: +43 664 60191 1020
[email protected]
www.snt-world.com
end of announcement euro adhoc
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issuer:   S&T System Integration&Technology Distribution AG
          Geiselbergstraße 17-19
          A-1110 Wien
phone:    01-367 80 88
FAX:      01-367 80 88-1099
mail:     [email protected]
WWW:      www.snt-world.com
sector:   Computing & Information Technology

ISIN: AT0000905351
indexes: WBI, ATX Prime
stockmarkets: official market: Wien
language: English

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