- Revenue growth of 8% to EUR 268.6 million (2019: EUR 248.7 million)
- EBITDA increase in Q2 of 16% to EUR 27.0 million (2019: EUR 23.2 million)
- Operating cash flow improves in H1 significantly by EUR 38.9 million to EUR 27.2 million
(2019: minus EUR 11.7 million)
- Order backlog as of 30 June 2020 EUR 910 million (31.12.2019: EUR 841 million)
- Guidance strengthened in 2020: Revenues and EBITDA of at least EUR 1,150 m and EBITDA of EUR 115 million respectively
The technology group S&T AG (ISIN: AT0000A0E9W5, WKN: A0X9EJ, stock exchange symbol: SANT) brings the first six months of 2020 to a successful close with its 46th record quarter in succession. In an extremely difficult economic environment dominated by the coronavirus pandemic, S&T AG impresses with strong key figures: Revenues were maintained at Q1/pre-coronavirus levels, reaching EUR 268.6 million, an increase of 8% compared to the previous year. In the 2nd quarter of 2020, EBITDA rose to EUR 27.0 million (2019: EUR 23.2 million). Thanks to a further increase in the technology and software share, the gross margin rose to 39.3% as against 36.8% in the first half of 2019. The PEC programme launched in 2019 continues to bear fruit, and in the first six months contributed to an impressive EUR 38.9 million increase in operating cash flow, taking it to EUR 27.2 million (2019: minus EUR 11.7 million.) Earnings per share (undiluted) rose by 18% in the 2nd quarter to EUR 16 cent (2019: EUR 13 cent).
All this shows that S&T has so far emerged as one of the winners of the coronavirus crisis. Generally speaking, technology companies provide support in the crisis with their products, whether these are video conference systems, workstations for home offices, or e-learning solutions: the best technical equipment for making everyday life easier. S&T meets this increased demand, achieving new record figures in the “Medical” and “Public Business” sectors. This helped compensate for the slump in the “Avionics” segment. S&T AG’s order backlog confirms this trend and, in defiance of the crisis, increased further in the 2nd quarter. The order book as of 30 June 2020 contains orders worth EUR 910 million, which is EUR 68 million more than at the beginning of the year.
With its high liquidity, and in a position that is financially sound and crisis-proof, S&T can respond promptly to opportunities for acquisitions that present themselves during the crisis. In July S&T was able to exploit this advantage and further upgrade its product portfolio and competitiveness with the strategic acquisitions of Iskratel and CITYCOMP.
Hannes Niederhauser, CEO: “Despite the continuing crisis our outlook is positive. We played our cards well during the crisis, are profiting in various sectors and therefore see ourselves as clear beneficiary of the Corona crisis. I look forward to further successful acquisitions in the coming quarters. There is no question that we will reach our revenue target of EUR 1,150 million and EBITDA of EUR 115 million for 2020 and reiterate our mid-term revenue target of EUR 2 billion with EBITDA of EUR 220 million in 2023.”