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Successful capital increase at S&T AG
Quanmax AG: S&T AG successfully completed capital increase
Quanmax AG and grosso holding GmbH new majority owners
- Capital increase carried out at S&T AG; Equity increases by EUR 58 million after debt relief
- Consolidation of S&T AG by Quanmax AG from November 2011 leads to planned sales of 150 million euros
- Profit for the period of EUR 7 million expected for 2011
- Goal: S&T profitable again in 2012
- Quanmax AG expects sales of over EUR 300 million and a profit for the period of EUR 10 million for 2012
S&T will receive a total of 24 million euros by issuing new shares in two capital increases. Of this, EUR 16 million is flowing directly into the company's cash register today. The capital increase was carried out after granting the restructuring privilege and after approval by the federal competition authority and entered in the commercial register. The core shareholders Quanmax AG and grosso holding GmbH thus hold a total of approx. 70% in S&T. In 2012, both investors will subscribe to S&T AG shares for a further 8 million euros.
A debt reduction of around EUR 42 million has also been agreed with the financing banks and business partners.
The consolidation of the S&T Group by Quanmax AG from November 2011 leads to an increase in sales to 150 million euros for the current financial year. Quanmax expects a period surplus of EUR 7 million for 2011.
For the 2012 financial year, Quanmax AG expects consolidated sales of over EUR 300 million, which should lead to a net profit after minorities of EUR 10 million. The S&T Group should be profitable again in 2012, loss-making business will be reduced.
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