Linz, September 7, 2021: S&T AG (ISIN: AT0000A0E9W5, WKN: A0X9EJ, stock code: SANT) is successively advancing its TTS (Trust Transparency Share) program announced in April 2021. On September 3, 2021, as part of the TTS-program (Trust), a Europe-wide tender was launched in good time for the award of the audit mandate for the individual financial statements of S&T AG as well as the consolidated financial statements of the S&T Group. The new auditing company, which will replace the current auditor Ernst & Young starting in the financial year 2022, is to be proposed to the shareholders for appointment at the next Annual General Meeting of S&T AG. The focus of the two-stage tender process is on the selection of a new renowned auditor that has references in the technology and ESG sectors as well as many years of expertise in companies listed on the stock exchange and a strong network of local auditors in the countries in which the S&T Group operates.
The simplification of group structure to increase Transparency is also making further progress. During the first months of the current financial year, 5 subsidiaries have already been merged, and a further 6 companies are to be merged or liquidated by the end of the year.
The development of our ESG initiatives is very pleasing. Numerous points have been implemented in the course of the 3-step-plan, such as women on the supervisory board now accounting for 40%, the audit committee being composed with a majority of independent female financial experts and also many initiatives involving renewable energy. These measures led to MSCI raising the ESG rating of S&T AG by 2 notches from “B” to “BBB” at the end of August.
Hannes Niederhauser, CEO S&T AG: “We have consistently implemented a large number of measures in the TTS-program over the past few months and are constantly working on further improvements. The share buybacks we announced in 2021 of approx. EUR 20 million are ahead of schedule and we now consider the start of another program. We are particularly pleased that our internal initiatives are now beginning to be reflected by our ESG rating being upgraded by 2 notches. In particular, the above-average rating in the governance sector compared to the peer group is proof of the progress achieved. We will go on investing effort here and continue to improve as part of our ESG 3-step-plan.“
