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19. 03. 10. - 11:00

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19. 03. 10. - 11:00

Negative Ebit for S&T after it makes corrections

Vienna IT service provider S&T’s operating earnings dropped by 3.4 million Euros year on year in 2009, it said yesterday (Thurs).

The firm said the new figure for earnings before interest and taxes (Ebit) was the result of a revision of preliminary figures for 2009 presented on 10 February. It had then reported positive earnings of 0.3 million Euros.

It added that it had had to increase risk reserves for big projects in Germany, Switzerland and Romania.

The firm also said that its Ebit for the last quarter of 2009 had been a minus 2.1 million Euros rather than the plus 1.6 million Euros it had reported last month.

It said presentation of final figures for 2009 would take place on 8 April.

S&T added that its big projects would have a negative impact on results in the first quarter of 2010. It said results would stabilise in the second quarter and become positive in the second half of the year.

Austrian Times

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