Quanmax AG: Increasing the sales target - Quanmax AG grows significantly in Q3

- Quanmax AG grows significantly in Q3
- Q3 sales increases by 18% to 18.7 million Euros compared to Q3/2009
- Gross margin increases from 18.4 percent (2009) to 26.6 percent (Q1 to Q3/2010)
- Orders on hand promise a good fourth quarter

Quanmax AG achieved sales of 51.4 million Euros in the first 9 months of 2010. With this, almost the entire previous year's sales revenue of 59.9 million Euros was achieved in nine months. The profit could also be increased in line with the sales: The EBITA was 2.6 million Euros after 9 months, of which 1 million Euros was achieved in the third quarter. This already exceeded that of the entire fiscal year 2009 (2.1 million Euros). The net profit after 9 months was 2:52 million Euros which already includes the integration costs of funworld AG. The integration is progressing as per plan. The funworld business will make a positive contribution to the earnings in 2011 itself.

The equity capital of the company increased to 32.7 million Euros compared to December 2009 (18.1 million Euros), which represents an equity ratio of 52 percent. The cash balance was 13.4 million Euros as on 30th September. The increased capital is expected to drive further growth, particularly in the Appliances / Cloud Computing business segment. Products from this high margin segment have already contributed to 14% (7.2 million Euros) of the total sales revenue in the first 9 months.

Based on the current outstanding order situation, Quanmax expects a strong fourth quarter. The management now expects an increased annual revenue for 2010 of at least 73 million Euros instead of the previously planned 70 million Euros. The net profit in the fourth quarter will increase significantly compared to the previous quarters.

About Quanmax
Quanmax AG (ISIN AT0000A0E9W5/WKN A0X9EJ) which is listed in the Prime Standard of the Frankfurt Stock Exchange is one of the largest distributor of IT products in Austria with the brands of chiliGREEN, MAXDATA and SecureGUARD. The ISO 9001:2008 certified company employs over 180 employees. In addition to the core market of Austria, Quanmax AG has expanded into the target markets of Germany, Switzerland and Eastern Europe.