S&T Reports Preliminary Results for 2002
Sales in core businesses up 25% - Overall sales EUR 170 million, increased 6%
Vienna, Austria (pts043/23.01.2003/09:51) S&T System Integration & Technology Distribution AG (NASDAQ Europe: SNTS, OTC: STSQY), a leading IT System Integrator in Central and Eastern Europe (CEE), today announced that it registered a sizable increase in order intake and shipments during the fourth quarter of 2002. Annual sales will amount to EUR 170 million for 2002 compared to EUR 160 million in 2001.
Karl Tantscher, CEO of S&T commented: "Information Technology market growth rates in CEE remained above the European average during 2002, but the global economic downturn still affected our business to a certain extent. We continue our growth strategy while simultaneously shifting our focus towards offering value-added services".
The earnings before interest and tax (EBIT) came out to EUR 2.5 million for 2002, down 38% from EUR 4 million in 2001. EBITDA was EUR 7.5 million, down 7% from 2001. The drop in these numbers is mainly caused by the prolonged economic slowdown and increased competition in the region.
Combined sales in Information Technology Solutions and Customer Support, S&T's core businesses, went up by 25%, while total sales grew 6%. Sales in the Medical Business Unit declined by 38% compared to 2001 where sales were exceptionally high due to a big one-time deal.
The strong order intake in Q4 2002 is expected to generate a good revenue inflow in the first half of 2003. The most significant of these orders, a EUR 17 million project in Romania, contributed already significantly to the 2002 numbers. The bigger portion of this project, however, will be reflected in the results of the first half of 2003.
The audited full year results for 2002 will be announced on March 27, 2003.
Conference Call
S&T's management is available for a conference call on January 23 at 4.00 p.m. Central European time, UK: 3.00 p.m., US: 10.00 a.m. Eastern time.
To take part in the conference call, please dial 0049 69 50 957 7554 a few minutes prior to the start time.
For your convenience, an instant replay will be available from January 23 at 6.00 p.m. Central European time until January 24 at 6.00 p.m. Central European time. The replay telephone
number is: 0049 69 50 957 9999 and the conference reference number is 217839. If you have any questions please call 0049 69 50500600 for assistance.
About S&T-www.snt.at
S&T is one of the leading providers of IT solutions to customers in 16 countries in Central and Eastern Europe and Turkey. S&T offers IT consultancy services, develops and implements tailor-made IT solutions and provides 24-hour service and consultancy. S&T has the specialised knowledge of backup and disaster recovery functions required for highly critical applications. S&T focuses on meeting the needs of large and medium-size enterprises, in particular those in the telecoms, banking, energy, public authorities and health sectors.
For further information please contact:
Karl Tantscher Martin Bergler
Chief Executive Officer Chief Financial Officer
+43 (0)1 367 80 88 +43 (0)1 367 80 88
karl.tantscher@snt.at martin.bergler@snt.at
S&T SYSTEM INTEGRATION & TECHNOLOGY DISTRIBUTION AG (S&T)
Gunoldstrasse 16, A-1190 Vienna, Austria
http://www.snt.at
In USA: Can Onen
Investor relations
+1-212-983-1702 x212
conen@annemcbride.com
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