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S&T announces preliminary figures for 2004: profitable growth in a year of consolidation

In 2004 Group sales rose by 7% to EUR 219 million, up from EUR 204 million in 2003. The result from ordinary activities (EBIT) also improved and will amount to some EUR 5.2 million. (2003: EUR 0.2 million). In the fourth quarter of last year (1.10 -31.12.2004) sales ran to EUR 69 million. The 2004 business year is reported according to IFRS3.

"In 2004 we proved that we can work very profitably in a year of consolidation. Our strategy is to continue our course of organic and aquisitional growth in order to achieve our medium term goal for the end of 2006. Important elements of this strategy are the focus on services which has already been strengthened, increasing our market share in the telecom, financial services, production and public administration sectors and in multi-national accounts. IDC forecasts an average 14% increase in IT expenditure for the years up to 2008 in the regions in which we are active, which confirms the validity of our geographic focus on "emerging markets", said Karl Tantscher, CEO of S&T. "Our most recent acquisitions in Austria give us an opportunity to play a leading role in the consolidation of the domestic IT market.", he added.

Outlook

In 2005 S&T will concentrate on continuing its successful growth course. This strategy was underpinned only recently by the takeover of T-Systems DSS and Computacenter Austria . Consequently S&T has adjusted its sales forecast for 2005 upward to approximately EUR 380 million. This trend also provides a boost to S&T's medium term goal of achieving EUR 500 million in sales and an EBIT margin of 6% by the end of 2006. An increase in direct foreign investment and rising expenditure on IT in the markets in which S&T is active is also expected to stimulate growth.

The audited results for the year will be published on 31 March 2005.