S&T AG DEFIES THE CORONA CRISIS WITH A SUCCESSFUL Q2
Sales growth of 8% to EUR 268.6 million (previous year: EUR 248.7 million)
EBITDA increase in Q2 from 16% to EUR 27.0 million (previous year: EUR 23.2 million)
Operating cash flow in H1 significantly improved by EUR 38.9 million to EUR 27.2 million (previous year: minus EUR 11.7 million)
Order backlog increased to EUR 910 million as of June 30, 2020 (December 31, 2019: EUR 841 million)
2020 guidance confirmed: sales and EBITDA of at least EUR 1,150 million and EUR 115 million respectively
The technology group S&T AG (ISIN: AT0000A0E9W5, WKN: A0X9EJ, ticker symbol: SANT) successfully closed the first half of 2020 with the 46th record quarter in a row. In a very difficult economic environment characterized by the corona pandemic, S&T AG impressed with its strong key figures: At EUR 268.6 million, sales were kept at the Q1 / pre-Corona level and by 8 compared to the previous year % increase. EBITDA increased to EUR 27.0 million in the 2nd quarter of 2020 (previous year: EUR 23.2 million). The gross margin increased - due to the further increased technology and software share - to 39.3% compared to 36.8% in the first half of 2019. The "PEC program" established in 2019 continues to have an effect and contributes to an improvement in operating cash flow in the first half of the year by an impressive EUR 38.9 million to EUR 27, 2 million (previous year: minus EUR 11.7 million). Earnings per share (undiluted) increased in the second quarter by 18% to EUR 16 cents (previous year: EUR 13 cents).
S&T has shown itself to be the winner of the Corona crisis to date. In general, technology groups offer support in times of crisis with their products and the right technical equipment to make everyday life easier - whether with video conference systems, home workstations or e-learning solutions. S&T meets this increased demand and achieves new record values in the areas of "Medical" and "Public Business". This cushioned the slump in the “Avionics” segment. The order backlog of S&T AG confirms this development and, despite the crisis, continued to grow in the 2nd quarter. The order book is now at EUR 910 million as of June 30, 2020, EUR 68 million better than at the beginning of the year.
With its high liquidity, financially strong and crisis-proof position, the S&T Group can react quickly to acquisition opportunities that arise during the crisis. In July, S&T was able to use this advantage and further improve the product portfolio and the competitive situation with the strategic acquisitions of Iskratel and CITYCOMP.
Hannes Niederhauser, CEO: “Despite the ongoing crisis, our outlook is positive. We made good use of our cards during the crisis, benefiting in several areas and therefore see ourselves as clear beneficiaries of the Corona crisis. I look forward to further successful acquisitions in the coming quarters. We will definitely achieve our goal for 2020 of EUR 1,150 million and EUR 115 million EBITDA and are reaffirming our medium-term target for 2023 of EUR 2 billion in sales with an EBITDA of EUR 220 million "