EANS-Adhoc: S&T System Integration&Technology Distribution AG / Positive EBITDA and good performance in south-eastern Europe

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quaterly report/Q1 2009

30.04.2009

Share of total sales realized by solutions and services business is
now 54 %

S&T´s strategic goal of increasing the share of total group sales
achieved by the solutions and services business continued to be
successfully pursued during the first quarter of 2009. Consulting and
service provision projects now account for 54 % of total sales - the
corresponding figure in the first quarter of 2008 was 49 %. Overall,
S&T achieved sales of 98.6 million euros in Q1 2009 (Q1 2008: 116.6
million euros / -15.4 %), an EBIT of -1.6 million euros (Q1 2008: 2.2
million euros) and a positive EBITDA. The gross margin remained
stable in percentage terms. S&T is expecting incoming orders to
stabilize during Q2 and Q3 2009 and is forecasting improved financial
results.

Sales volumes in the core S&T fields of business during the first
quarter of 2009 reflect the general situation in the IT market.
Whereas the area of managed services (MS), which mainly involves
long-term service contracts, saw growth in sales of 2.6 % compared to
2008 and realized 23.5 million euros, sales in the area of enterprise
systems (ES), which focuses on infrastructure, fell by 23.4 % to 45.2
million euros. Business solutions (BS), with its provision of
consulting services, registered a contraction in sales of 13.8 % to
29.9 million euros. "The decline in our total sales revenues is
primarily a result of the current situation in the overall
infrastructure market, which is traditionally difficult during any
first quarter. We have managed to defend our market share in the
infrastructure business and have kept gross margins stable in
percentage terms, but we are, of course, less than satisfied with the
financial result. However, the MS area of business has really
developed well. In the business solutions area we are currently
seeing extremes - during Q1, we were awarded a number of new, large
contracts, but at the same time a number of ongoing projects were
postponed or cancelled at short notice by customers. Such a situation
makes our work with planning of resources and costs very difficult
and has an impact on the results," explains Christian Rosner, CEO
S&T.

Good results in the Adriatic region and Romania In geographical
terms, the Adriatic region and Romania made particularly good
contributions to the overall group results during the first quarter.
In contrast, the DACH region (Germany, Austria, Switzerland) as well
as Russia, Turkey, Hungary and Ukraine could not avoid the impact of
the ongoing crisis. In the German-speaking countries in particular,
there were a number of projects that were cancelled or postponed,
including projects in which implementation was about to start or was
already underway, and for which personnel and budget resources had
already been allocated. Rosner: "We have already initiated some
appropriate measures in the business units to tailor the available
resources to current needs. We are currently assessing our continued
involvement in Turkey and, furthermore, our office in
Bosnia-Herzegovina has been reduced to a small operational core team
and, in Russia, we are looking to establish a strategic partnership
with a leading local provider."

Balancing act with personnel resources At the end of the first
quarter of 2009, S&T had 3,048 employees (full time equivalent),
which is 87 (2.8 %) less than at the beginning of the year. "For us
as a service provider, we have to play a balancing act of ensuring
that we retain key resources in order to maintain the high quality of
our services, while at the same time acknowledging that we are forced
to cut costs. It is also the case that measures implemented in terms
of personnel do not have an immediate effect on the cost structure as
the resulting savings are only seen two or three months later. We
envisage having approximately 2,850 staff at the end of June and hope
that no further reductions will then need to be made," comments
Rosner.

Share price on the rise Following a decision by the Austrian Takeover
Commission regarding the issue of AvW, the S&T share price has shown
a clearly positive trend once again. The price at the end of the
first quarter was 8.53 euros (March 31, 2009) but within a few days
of the decision being publicized it had reached a level of 13.50
euros (April 17, 2009). S&T currently (April 29, 2009) has a market
capitalization of 42.98 million euros and the share price is 11.99
euros.

Q2 2009: Positive financial results expected "We are expecting a
positive operational result for the second quarter of 2009," states
Rosner. "The forecasts in our individual countries show a positive
development in the infrastructure business in comparison to the first
quarter. The business solutions area should now have bottomed out in
terms of sales and the third quarter should produce positive figures
again here. At present, we are also forecasting a positive result for
the third quarter and sales revenues that should not be much below
those of last year."

end of announcement euro adhoc
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ots Originaltext: S&T System Integration & Technology Distribution AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Gabriela Mair

Head of Corporate Communications

T: +43 1 367 80 88 1024

Mobil: +43 664 60191 1024

Gabriela.Mair@snt-world.com

www.snt-world.com

Branche: Computing & Information Technology
ISIN: AT0000905351
WKN:
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official market