Ad Hoc Report in accordance with §15 WpHG
Stuttgart, 5 August 2009 – The 2nd Quarter 2009 was strongly influenced by short-time work at the plants of our auto industry customers. Particularly our services sector suffered from this development and had to work below capacity for the first time. Simultaneously, the result was adversely affected by the US business of CENIT’s subsidiary in Michigan. But we continue to strive against the negative general economic trend. The services business dominates sales distribution within the Group, because software sales have been especially hard hit by the general reluctance to invest. However, we are registering a slight reversal of this trend. The full consolidation of CAD scheffler GmbH into CENIT AG is another important development.
Overview of 6 Months Figures
Group-wide sales increased significantly to 43.1 m € (06/2008: 34.3 m €/+26%) at the end of the 2nd Quarter. The gross surplus grew to 29.7 m € (06/2008: 28.3 m €/+5%). EBITDA attained 1.5 m € (06/2008: 1.4 m €/+8%). EBIT during the reporting period amounted to 0.8 m € (06/2008: 0.9 m €/-5%). The pre-tax result (EBT) was 1.0 m € (06/2008: 1.12 m €/-12%). The consolidated result was 0.7 m € (06/2008: 1.0 m €/-24%). Consolidated EPS (earnings per share) thus derive to 0.09 € per share (06/2008: 0.12 €/-25%).
On 30 June 2009, equity capital totalled approx. 26.1 m € (31.12.2008: 25.4 m €), accounting for an equity ratio of 61% (31.12.2008: 64%). On the balance-sheet date, bank deposits and securities incl. current assets totalled 16.8 m € (31.12.2008: 13.2 m €). The enterprise remains debt-free. The operative cash flow amounted to 1.3 m € (30.06.2008: 1.5m €). On the balance-sheet date, the number of employees was 705 (06/2008: 687). Orders in hand amounted 24 m € (6/2008: 29.6 m €) and incoming orders totalled 39.66 m €. (6/2008: 52.3 m €). It is not possible to have a significant comparability to last years figures because the 2nd quarter in 2008 was affected by a major order.
Breakdown of Earnings
Sales in the services sector grew by 21% to a current 27.8m € (06/2008: 23.0 m €), making services the strongest contributor to sales with a share of 64%. Sales of CENIT software during the first 6 months of the current business year totalled 4.0 m € (06/2008: 4.5 m € /-11%). Sales of CENIT’s proprietary software thus account for approx. 9% of total sales. Thanks particularly to the VAR model, the non-CENIT software business grew by 134% to 10.9 m € (06/2008: 4.7 m €), accounting for 25% of total sales. Other revenues amounted 0.3 m €.
Holdings – Foreign Subsidiaries
CENIT (Switzerland) AG achieved sales of 1.9 € (06/2008: 1.9 m €), accounting for EBIT of 0.6 m € (06/2008: 1.0m €).
With sales of 2.5 m € (06/2008: 2.7 m €), CENIT North America Inc. attained negative EBIT of -0.4 m € (06/2008: 0.1m €).
With sales of 0.3 m € (06/2008: 0.4 m €), CENIT SRL achieved EBIT of 0.1 m € (06/2008: 0.2 m € ).
The CENIT company in Toulouse, France realized sales of 0.2 m € (06/2008: 0.1 m €) and EBIT of 0.03 m € (06/2008: 0.02 m €).
Outlook
CENIT AG intends to steadily adhere to its profitable business policy.
About CENIT:
Since 1988, the company 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 about 710 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,
Fabian Rau
Industriestraße 52-54, D-70565 Stuttgart
Tel.:+497117825-3185
Fax:+49711782544-4185
Email: f.rau@cenit.de
Additional Information:
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.
