Quanmax AG / Key word(s): Quarter Results
28.10.2011 07:58
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Quanmax AG raises its targets for 2011
- new target turnover of 150 million Euros, profits expected to rise to 7
million Euros (previously 5.6)
- Gross margin raised by 3.9 percentage points to 30.5 percent compared
to 2010
- The EBITA rose to 5.4 million Euros in the first 9 months (2.6 million
Euros in the previous year)
Linz, 28.10.2011. Quanmax was successful in further increasing the turnover
and profits in the third quarter of the fiscal year 2011. The turnover
during the first 9 months increased by 28.8 percent compared to the same
period in 2010, i.e., from 51.4 to 66.2 million Euros. The positive growth
was even more evident in the earnings: The operating earnings (EBITA) was
5.4 million Euros after the first nine months of 2011 and is more than
twice that of the earnings compared to the same period in 2010 (2.6 million
Euros). The net earnings was 3.9 million Euros as against 2.5 million Euros
in the previous year. The profit (30.5 percent after nine months) has
significantly increased because of the high gross margin which has crossed
30 percent for the first time and is 3.9 percentage points higher compared
to the previous year (26.6 percent).
The equity capital was 41.6 million Euros at the end of the third quarter
compared to 33.4 million Euros at the beginning of the year. This
corresponds to an equity ratio of 57.8 percent. The cash balance was 13.1
million Euros as on 30th September 2011.
The strategic goal of tapping new sales markets in Eastern Europe has been
achieved in the meantime. A binding agreement was signed with S&T AG,
Vienna, in September to obtain a controlling majority. S&T AG generates
most of its turnover by providing IT services in Eastern Europe and hence
offers extensive synergies for Quanmax both in terms of the product
portfolio as well as growing CEE sales markets. The acquisition is subject
to deferred conditions, in which S&T's annual shareholders' meeting has
consented to the acquisition on 25th October 2011.
The target turnover for the current fiscal year has now been significantly
revised to 150 million Euros. The increase is due on two reasons: Firstly,
the growth rate in the IT solutions segment for B2B customers has picked up
further which is sufficient to exceed the initial target turnover of 100
million Euros. Secondly, the acquisition of S&T AG can be expedited earlier
than planned so that the new subsidiary can be partially consolidated in
the fourth quarter of 2011 itself. The net profit target is now 7 million
Euros for 2011 (previously 5.6). Most of this profit will be achieved by
Quanmax AG but even S&T will break even in the fourth quarter.
The medium term and ambitious goal of Quanmax AG is to become one of the
leading IT companies in the German-speaking countries and in Eastern
Europe.
About Quanmax AG:
Quanmax AG (ISIN AT0000A0E9W5/WKN A0X9EJ) which is listed in the Prime
Standard of the Frankfurt Stock Exchange with its brands of chiliGREEN,
MAXDATA and SecureGUARD is one of the largest distributors of IT products
in Austria and has been present for some time in the vertical markets of
Germany and Switzerland with its new business segment of IT-Solutions. By
acquiring the IT service provider S&T AG, Quanmax is now expanding its
presence into the emerging regions of Eastern Europe.
28.10.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Quanmax AG
Industriezeile 35
4021 Linz
Austria
Phone: +43 (732) 7664 - 0
Fax: +43 (732) 7664 - 801
E-mail: [email protected]
Internet: www.quanmax.ag
ISIN: AT0000A0E9W5
WKN: A0X9EJ
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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