CENIT AG AD HOC ANNOUNCEMENT: Weaker Q4 2022 expected - adjusted forecast for fiscal year 2022 despite the strong sales growth in the fiscal year so far
In addition, CENIT's result will be burdened by extraordinary expenses for changes in the area of human resources amounting to around EUR 1 million, financial difficulties at customers, necessary adjustments within the IT infrastructure and funding grants not received in this fiscal year. A significant improvement in earnings is expected for the 2023 financial year.
The company's outlook for the fiscal year 2022 from the beginning of May included the macroeconomic as well as geopolitical challenges known at that time, which initially contributed to an improved order situation at CENIT and also showed first signs of a possible recovery. However, the management now assumes a hesitancy to invest on the part of medium-sized companies, which will at least have a greater impact on the fourth quarter of the business year than initially expected. Overall, however, the management sees a positive investment mood for digitization projects in the markets of relevance for CENIT for the coming fiscal year.
As the company no longer expects the general market environment to significantly recover in the short term, it is adjusting its forecast for the fiscal year 2022. For the fiscal year 2022, the Management Board now expects a sales level of EUR 162 million to EUR 166 million (previously: EUR 170 million) and EBIT of EUR 6.2 million to EUR 6.8 million (previously: EUR 9 million).