Ad Hoc Report in accordance with §15 WpHG
Stuttgart, 9 November 2009 – CENIT’s results during the third quarter show that we have held our ground in an expectedly difficult business environment. With total sales of 63.4 m EUR, we have again claimed an increase over the previous year, in the order of 12 percent. For the first time, we were able to achieve significant income from software sales again. As a result, we were able to fulfil our expectations for the 3rd Quarter, a period characterized by short-time work in the auto industry and the summer holidays. We are continuing to follow a consistent enterprise policy aimed at sustainability, and in doing so take a careful approach to the challenges that lie ahead. As for our customers, we can in many instances discern resumed investment decisions for new, innovative products. It remains our foremost task to influence these decisions in our favour.
Overview of 3rd Quarter Figures
Group-wide sales again increased, attaining 63.4 m EUR (09/2008: 56,6 m EUR/ 12%) at the end of the 3rd Quarter. The gross surplus amounted 43.5 m EUR (09/2008: 44.9 m EUR/ -3%). EBITDA attained 2.8 m EUR (09/2008: 3.9 m EUR/ -28%). EBIT during the reporting period amounted to 1.7 m EUR (09/2008: 2.8 m EUR/ -39%). The pre-tax result (EBT) was 1.9 m EUR (09/2008: 3.3 m EUR/ -41%). The consolidated result was 1.7 m EUR (09/2008: 2.6 m EUR/ -32%). Consolidated EPS (earnings per share) thus derive to 0.21 EUR per share (09/2008: 0.31 EUR/ -32%).
On 30 September 2009, equity capital totalled approx. 27.1 m EUR (31 December 2008: 25.4 m EUR), accounting for an equity ratio of 64% (31 December 2008: 64%). On the balance-sheet date, bank deposits and securities incl. current assets totalled 17.6 m EUR (31 December 2008: 13.2 m EUR). The enterprise remains debt-free. The operative cash flow amounted to 2.6 m EUR (30 September 2008: 4.5 m EUR). On the balance-sheet date, the number of employees was 705 (09/2008: 726). Orders in hand totalled 21.1 m EUR (9/2008: 26.2 m EUR) and incoming orders stood at 56.9 m EUR. (9/2008: 73.6 m EUR). In 2008, orders figures were heavily influenced by a single large order; for this reason, they cannot serve as a meaningful basis for comparison.
Breakdown of Earnings
Sales in the services sector grew by 9% to a current 40.2 m EUR (09/2008: 36.9 m EUR), making services the strongest contributor to sales with a share of 63%. Sales of CENIT software during the first 9 months of the current business year totalled 5.7 m EUR (09/2008: 6.3 m EUR / -9%). Sales of CENIT’s proprietary software thus account for approx. 9% of total sales. Thanks in particular to the VAR model, the non-CENIT software business grew by 57% to 16.9 m EUR (09/2008: 10.8 m EUR), accounting for 27% of total sales. Other accrued income totals 0.5 m EUR.
Holdings - Foreign Subsidiaries
CENIT (Switzerland) AG achieved sales of 2.8 m EUR (09/2008: 3.7 m EUR), accounting for EBIT of 0.8 m EUR (09/2008: 2.1 m EUR).
With sales of 4.1 m EUR (09/2008: 4.9 m EUR), CENIT North America attained negative EBIT of -0.6 m EUR (09/2008: 0.2 m EUR).
Achieving sales of 0.4 m EUR (09/2008: 0.5 m EUR), CENIT SRL in Romania was able to post EBIT of 0.1 m EUR (09/2008: 0.1 m EUR).
The CENIT company in Toulouse, France realized sales of 0.3 m EUR (09/2008: 0.2 m EUR) and EBIT of 0.02 m EUR (09/2008: 0.02 m EUR).
Learn more: www.cenit.com/reports.
Since 1988, the enterprise has been active as a specialist for product lifecycle management, enterprise content management solutions and application management outsourcing. CENIT is listed on the Prime Standard of Deutsche Börse and currently employs more than 700 staff. Among others, CENIT serves clients such as Allianz, BMW, Daimler, EADS Airbus, LBS, Axa and VW, as well as numerous medium-sized businesses particularly from the automotive industry and the mechanical engineering sector, e.g. Dürr, Georg Fischer or Leoni.
Please send queries to:
CENIT AG Systemhaus,
Industriestraße 52-54, D-70565 Stuttgart
Tel.:+49 711 7825-3185
Fax:+49 711 782544-4185
This press/ad hoc report may contain future-oriented statements regarding the business, financial and earnings situation of as well as profit projections for CENIT. Such future-oriented statements are characterized by terms or statements such as "the company may" or "the company will", "expects", "assumes ", "is considering", "intends to", "plans", "believes", "will continue to" and/or "estimates", as well as similar terms and statements. Such statements contain no guarantee that the projections will in fact be achieved. Rather, such statements involve risks, imponderables and assumptions that are difficult to predict and, in addition, are based on assumptions as to future events which may prove to be incorrect. For this reason, actual events may diverge significantly from the assumptions contained in the above statement. In a future-oriented statement by which CENIT expresses expectations or assumptions with regard to future events, these expectations or assumptions are made in good faith, and it shall be assumed that they are made upon an appropriate basis; however, it cannot be guaranteed that the said statements, expectations or assumptions shall indeed occur, be attained or fulfilled. The actual operative result may diverge significantly from such future-oriented statements and is subject to certain risks. In this regard, please refer to the Annual Report of CENIT AG Systemhaus.