New projects with major clients and an extension of contract with Chairman Hannes Niederhauser
Linz, 11.03.2019. S&T AG (www.snt.at) has good news to offer at the beginning of its 2019 financial year. The company was able to convince during the first few weeks of the year three renowned companies of the merits of the solutions offered by its high-margin “IoT Solutions” segments.
Two of the three new projects for customers were secured by the new “IoT Solutions – America” segment. This segment is the successor to the former “Embedded Systems” hardware segment, to which software and services capabilities have been added on a step-by-step basis:
- One of these projects has a value of USD 18 million. It is with one of China’s largest airlines, and is in the fast-growing field of avionics. Via its Kontron subsidiary, S&T is to provide the customer with its certified in-flight entertainment solution, which has already been integrated into more than 4,000 commercial aircraft and business jets worldwide.
- The North America team has also concluded two new projects in high-performance computing and networking, for autonomous car development applications. These projects add to the systems portfolio of S&T’s subsidiary Kontron. In this demanding field of systems developed, Kontron has provided solutions to car manufacturers, Tier-1 automotive suppliers and ride-hailing service providers in the last two years. More than 700 vehicle systems have been deployed to date. These new projects have the potential to equip 150 additional vehicles, with an initial scope of some USD 5 million.
- Smart grid technologies form part of S&T’s “IoT Solutions – Europe” segment. Its intelligent measurement systems are comprised in its portfolio of technologies. Linz AG, which is headquartered in Austria, and which is a renowned supplier of energy, relies upon these systems. At the end of February 2019, S&T AG secured a new project whose scope comes to some EUR 10 million.
In addition to the positive development of incoming orders, S&T is pleased to report that at the beginning of financial year 2019, the Supervisory Board of S&T AG has extended the contract of employment – according to the established intervals – with CEO Hannes Niederhauser (56) until June 30, 2020.
Dr. Erhard F. Grossnigg, Chairman of the Supervisory Board of S&T AG, states: “For many years, Hannes Niederhauser has been highly successfully managing the company and its businesses. Since 2011, S&T has realized an unprecedented story of growth. During this time, the company has been able to more than double its revenues – and to accomplish a rise in profitability outpacing even that. S&T’s stock has risen during this period by more than 1000%. While achieving this, the company has transformed itself from a supplier of IT systems into an internationally leading supplier of Industry 4.0 and Internet of Things technologies. We are looking forward to setting forth our working relationship with Hannes Niederhauser – and to facilitating S&T AG’s proceeding down its ambitious path of growth.“