Strong Growth at Quanmax
Due to the restructuring of the subsidiary S&T, the Austrian IT company could raise earnings and revenues.
Quanmax AG announced figures for the first quarter of 2012. Due to the planned business development of the S&T Group as well as the Appliances business that has shown strong growth, a turnover of € 78.1m (€ 21.0m in the previous year) could be achieved.
With a sales of € 51.7m (0m in the previous year), the S&T Group contributed to this strong growth in sales. The high-margin Appliance business has already generated € 8.2m (€ 5.9m in the previous) with a net profit of € 1.3m (€ 0.7m in the previous year), which corresponds to an increase of 80 percent compared to the previous year. Due to the higher share of the Appliances business, the gross margin could be increased to 35.5% compared to 31.6% in the previous year.
The increase in gross margin resulted in a direct increase of the income figures and lead to an EBITA of € 4.3m (€ 1.4m in the previous year). The consolidated profit for the period increased to € 2.9m (€ 1.0m in the previous year). This means a profit of 8 cents per share for the shareholders of Quanmax (5 cents in the previous year). The S&T Group was able to once again make a positive contribution to the operating income. As part of the restructuring, the subsidiary in Japan was sold off as the last remaining company from the earlier IMG takeover. The operating cash flow amounted to € 0.3m (€ 2.6m in the previous year) and was marked by a sharp decrease in supplier debts at S&T.
The liquid assets of the entire Quanmax group amounted to € 27.7m (€ 29.9m as on 31.12.2011). The financing liabilities amounted to € 51.8m (€ 53.5m as on 31.12.2011. The equity capital of the group was € 55.4m (€ 54.6m in the previous year), of which the shareholders of Quanmax AG account for € 50.5m (49.2m in the previous year). The equity ratio of the Group increased to 27.5 percent compared to 24.0 percent at the end of 2011.
The management affirms the plan of achieving a turnover of € 330m and a minimum consolidated profit of € 10m for the current fiscal year of 2012.