CENIT posts positive 3rd Quarter results


High growth in software earnings

Ad Hoc Report in accordance with §15 WpHG

Stuttgart, 9 November 2010 – CENIT’s stable business trend of the first half of the year has continued during the 3rd Quarter. As expected, earnings from sales of non-proprietary software grew most strongly, accounting for solid gains in the field of Product Lifecycle Management (PLM). However, sales in the consulting and services segment have declined. Expenditures have been adjusted to the changing orders situation as appropriate.
This Quarter is the first to also take into account the results of conunit GmbH, an enterprise acquired by CENIT at the beginning of the 3rd Quarter. The consulting provider in the fields of business intelligence (BI) and analysis is a meaningful addition to CENIT’s long-established business segment Enterprise Information Management (EIM), particularly with a view to the high technical expertise of conunit’s staff in the BI field. CENIT plans to expand this segment over the coming years. conunit fully merged with CENIT pursuant to a decision of 20 August. The merger was entered in the commercial register on 20 September 2010.

At the end of the 3rd Quarter, CENIT Group achieved total sales revenue of 64.8 m EUR (2009: 63.4 m EUR/+2%). The gross profit amounted to 43.1 m EUR (2009: 43.5 m EUR/-1%). CENIT attained EBITDA of 3.0 m EUR (2009: 2.8 m EUR/+6%) and EBIT of 1.7 m EUR (2009: 1.7 Mio. EUR). Earnings per share were 0.15 EUR (2009: 0.21 EUR).

Breakdown of Earnings

In the PLM segment CENIT achieved a sales total of 46.5 m EUR (2009: 43.7 m EUR/+6%). The EIM segment posted sales of 18.3 m EUR after 19.7 m EUR in 2009
(-7%). Earnings from non-proprietary software attained 21.0 m EUR (2009: 16.9 m EUR/+24% *revised accounting method). Sales of CENIT’s proprietary software increased slightly from 5.7 m EUR to 5.9 m EUR (+2% *revised accounting method).
Turnover from services and consulting totaled 37.4 m EUR (2009: 40.2 m EUR/-7%). Other turnover amounted to 0.6 m EUR (2009: 0.5 m EUR /+20%).

Orders Development

Incoming orders Group-wide totaled 70.2 m EUR (2009: 56.9 m EUR/+23%). Orders in hand on 30 September 2010 amounted to 27.8 m EUR (2009: 21.1 m EUR/+32%).

Asset and Financial Situation

The asset and financial situation, while influenced by the acquisition of conunit GmbH, remains comfortable. The acquisition price was in the lower single-digit millions. On the balance-sheet date, equity capital totaled approx. 27.2 m EUR (31 Dec. 2009: 28.1 m EUR), accounting for an equity ratio of 60% (31 Dec. 2009: 64%). On the balance-sheet date, bank deposits and securities totaled 10.3 m EUR (31 Dec. 2009: 19.5 m EUR). The enterprise remains debt-free.


On 30 September 2010, CENIT employed 696 staff Group-wide (30 Sept. 2009: 705).

Holdings/Foreign Subsidiaries

CENIT (Switzerland) AG, Frauenfeld/Switzerland

CENIT (Switzerland) AG achieved sales revenue of 2.1 m EUR (2009: 2.8 m EUR), accounting for EBIT of 0.1 m EUR (2009: 0.8 m EUR).


With sales of 3.8 m EUR (2009: 4.1 m EUR), CENIT North America Inc. attained EBIT of -0.1 m EUR (2009: -0.6 m EUR).
CENIT SRL, Iasi/Romania

CENIT SRL achieved sales of 0.3 m EUR (2009: 0.4 m EUR), accounting for neutral EBIT (2009: 0.1 m EUR).

CENIT France SARL, Toulouse/France

CENIT France SARL posted sales of 0.4 m EUR (2009: 0.3 m EUR) and EBIT of 0.04 m EUR (2009 0.02 m EUR).


CENIT’s software business, which has already performed well during the 3rd Quarter, is expected to remain strong over the coming months. We anticipate further improvements in capacity utilization within the services segment. We thus expect positive developments for the 2010 business year based on the results attained in 2009, and continue to adhere to the statements made in the 2009 Annual Report.

The full 3rd Quarter Report is available on our website at www.cenit.com/reports.

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 suppositiuons 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.

Tanja Marinovic
Tanja Marinovic
Marketing/ Investor Relations