Quanmax equity and earnings jump

Notebook producer Quanmax has managed to raise its equity in the first three quarters of this year.The Upper Austrian company, which was formerly named Gericom, announced today (Thurs) that its equity soared from 18.1 million Euros in December 2009 to 32.7 million Euros. This amount means the firm currently has an equity ratio of 52 per cent.Quanmax, which is quoted on the Frankfurt Stock Exchange (FWB), also said it had earnings before interest, taxes, depreciation and amortisation (Ebitda) of 2.6 million Euros in the first nine months of 2010 – around 500,000 Euros more than the company made between January and December 2009.The Linz-based firm said it expected its annual turnover to reach 73 million Euros. Quanmax previously announced its hopes to make 70 million Euros this year. The company said in August it expected its annual turnover to surpass the 100-million-Euro hurdle by 2012.Quanmax said its net profit reached 2.52 million Euros in the first nine months of 2010, adding it was optimistic about doing well in the fourth quarter due to strong demand for its products.