CENIT Group with a strong annual result 2023: Sales increase by about 14% to EUR 185 million and EBIT growth by 46% to EUR 9.2 million compared to the previous year


Stuttgart, April 4th, 2024 - 2023 was a successful year for the CENIT Group. Despite the ongoing difficult economic situation in Germany and the various geopolitical challenges, the CENIT Group performed well. The strategically important acquisitions, both in the EIM and PLM environment, made a significant contribution to this. The Group increased sales by 13.9% to EUR k 184,720 and EBIT by 46% to EUR k 9,218. Third-party software and consulting & services represented the largest share of total sales.

Results in detail

During the 2023 business year, CENIT group generated sales revenues of EUR k 184,720 (prior year: EUR k 162,152/+13.9%). Sales of CENIT’s proprietary software declined by -5,2% at EUR k 16,788 compared to EUR k 17,710 in the previous year. This is primarily due to the switch from license sales to Saas models and is therefore beneficial for the sustainability of sales. Sales revenues in CENITs consulting and services segment totaled EUR k 74,380 and thus increased by 33.5% on-year (prior year: EUR k 55,719). Sales of third-party software increased by 5.2% to EUR k 92,697 (prior year: EUR k 88,139).

The gross profit (operating output less cost of materials) amounted to EUR k 110,606 (2022: EUR k 91,995), representing an increase of 20.2%.

CENIT achieved EBITDA in amount of EUR k 16,408 (2022: EUR k 11,937/+37.5%) and EBIT of EUR k 9,218 (2022: EUR k 6,305/+46.2%). Increased financing costs for acquisitions reduced earnings per share. Earnings per share were EUR 0.54 (2022: EUR 0.75).

Orders Development

During the 2023 business year, orders received by CENIT Group totaled EUR k 196,084 (2022: EUR k 167,595). Orders in hand on December 31, 2023, amounted to a record level of EUR k 57,491 (2022: EUR k 46,054).

Asset and Financial Situation

On the balance-sheet date, the company’s equity capital was EUR k 45,003 (2022: EUR k 44,783), representing an equity ratio of 29.3% (2022: 35.3%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 24,341 (2022: EUR k 19,914). The operative cash flow was EUR k 5.331 (2022: EUR k 11,488). Furthermore, in 2023, cash and cash equivalents were mainly influenced by an increase in bank loans by EUR k 16,040 to finance acquisitions in amount of EUR k -7,984 (prior year: EUR k -27,927).


On December 31, 2023, CENIT group employed 893 (2022: 861). Consolidated personnel expenditures during the reporting period were EUR k 78,588 (2022: EUR k 67,266). CENIT currently provides training for 52 young professionals in a variety of occupations. Trainees include informatics and economics students from the Dual University of Baden-Württemberg (DHBW) and vocational trainees in the field of information technology.


At the Annual General Meeting on June 6th, 2024, the Management and Supervisory Boards will propose to distribute a dividend of EUR 0.04 per share from CENIT AG's unappropriated profit of EUR k 7,015. The background to this is the upcoming financing of further acquisitions, which, in view of the current interest rate trend, is to be carried out as far as possible from existing liquidity in the interests of shareholders.


In the 2024 financial year, the CENIT Group expects a further year of growth and efficiency. Before possible acquisition effects, consolidated sales are expected to be between 195.0 and 202.0 mEUR. The EBIT forecast is between 11.7 and 12.2 mEUR, which corresponds to an EBIT margin forecast of at least 6%. In view of the geopolitical situation, the forecast assumes that the ongoing war between Russia and Ukraine and the conflict in the Middle East will not have any significant negative economic impact on our industry and our main customer segments.

The complete 2023 Annual Report is available in a German and English version on the CENIT homepage.

Tanja Marinovic
Tanja Marinovic
Marketing/ Investor Relations