Quanmax AG (www.quanmax.ag) achieved a record turnover exceeding 150 million EUR during the previous fiscal year of 2011, subject to the final figures being published. The final figures for fiscal year 2011 will be published on 16.04.2012.
In addition to stable business in the business division of IT products, the increasing demand for IT solutions (appliances) especially contributed to the significant increase in turnover during the previous fiscal year. The S&T Group that has been consolidated since November 2011 contributed a turnover of about 50 million EUR in two months.
The increase in turnover is also reflected in a significantly positive trend in profit. The originally planned consolidated annual profit of 7 million EUR will probably be exceeded by a significant margin. Restructuring measures in the S&T Group were accelerated in the fourth quarter of the previous fiscal year and are already showing gratifying results. The financial debts of the S&T Group have also reduced due to a stable equity position. What is also positive is the fact that suppliers and credit insurers have started granting credit limits to S&T which in turn has increased the liquid assets of the Quanmax Group 29 million EUR.
The integration of the S&T Group has been progressing on fast track in the past few months. The decision not to continue with unprofitable business initially resulted in a reduced turnover but the trend is expected to change in the current fiscal year. Two major orders amounting to 7 million EUR have already been bagged from public authorities in Poland and Montenegro. The synergies in the business operations of the two companies are being increasingly used, both for acquiring customers as well as to combine the purchasing volumes, and a further increase in profitability of the S&T Group is expected in 2012.