CENIT posts sales and earnings growth in first 6 months of 2011


Positive development underpinned by high software sales and growing demand for services

Stuttgart, 11 August 2011 – The results of the first 6 months of 2011 increased in comparison to the same period last year. Increased demand is coming especially from the manufacturing industry and from automotive suppliers, leading to sustained growth in the product lifecycle management (PLM) field. However, the enterprise information management (EIM) segment was likewise able to achieve higher sales during the first half of the year. Overall, sales of CENIT’s proprietary software and third-party software were up significantly against the previous year. Based on these positive developments, we have raised our annual forecast for the 2011 business year. The precondition for achieving this goal is continued stability of the business environment.
With the acquisition of Transcat PLM in Switzerland, CENIT AG is strengthening its presence on the international market. In July, CENIT also established a subsidiary in Japan, so that the enterprise is now directly represented on the Asian continent.

By the end of the 2nd Quarter, CENIT Group posted sales revenue of 50.3 m EUR (2010: 41.4 m EUR/22%). EBITDA totaled 2.9 m EUR (2010: 1.6 m EUR/85%), representing EBIT of 1.99 m EUR (2010: 0.9 m EUR/131 %). Earnings per share amounted to 0.17 EUR (2010: 0.08 EUR/113%).

Breakdown of Earnings

In the PLM segment, we achieved a sales total of 35.7 m EUR (2010: 30.6 m EUR/17%). The EIM segment posted sales of 14.6 m EUR after 10.7 m EUR in 2010 (36%). Sales of third-party software attained 18.6 m EUR (2010: 12.5 m EUR/48%), while sales of CENIT’s proprietary software grew from 3.8 m EUR to 5.7 m EUR (53%). Turnover from services and consulting totaled 25.9 m EUR (2010: 24.6 m EUR/5%). Other sales amounted to 0.1 m EUR (2010: 0.5 m EUR /-76%).

Orders Development

Incoming orders Group-wide totaled 56.6 m EUR (2010: 42.4 m EUR/33%). On 30 June 2011, orders in hand amounted to 35.4 m EUR (2010: 25.4 m EUR/40%).

Asset and Financial Status

The asset and financial situation remains comfortable. On the balance-sheet date, equity capital amounted to approx. 29.3 m. EUR (31 Dec. 2010: 29 m EUR), accounting for an equity ratio of 54% (31 Dec. 2010: 58%). On the balance-sheet date, bank deposits and securities totaled 19.7 m EUR (31 Dec. 2010: 13.3 m EUR). The enterprise is debt-free.


On 30 June 2011, 652 staff members were employed Group-wide (30 June 2010: 618).


CENIT (SWITZERLAND) AG, Frauenfeld/Switzerland

During the second Quarter of 2011, CENIT (Switzerland) AG merged with Transcat PLM AG (Switzerland). As a consequence, the company headquarters will relocate to Effretikon during the coming weeks. Currently, CENIT (Switzerland) AG employs 22 staff. The subsidiary achieved sales proceeds of 4.5 m EUR (2010: 1.4 m EUR), accounting for EBIT of 0.5 m EUR (2010: 0.04 m EUR).


With sales totaling 4.8 m EUR (2010: 2.5 m EUR), CENIT North America Inc. posted EBIT of 0.7 m EUR (2010: -0.1 m EUR). The high growth rate is attributable to a large one-off project.

CENIT SRL, Iasi/Romania

CENIT SRL achieved sales of 0.5 m EUR (2010: 0.2 m EUR) and EBIT of 0.02 m EUR (2010: -0.01 m EUR).

CENIT France SARL, Toulouse/France

CENIT France SARL posted sales of 0.3 m EUR (2010: 0.3 m EUR), representing EBIT of 0.05 m EUR (2010: 0.01 m EUR).

For the second half of the year, we again expect to achieve strong software business, as is traditionally the case during the last months of the year. Assuming continued stability of the economic environment, our current assessment allows us to raise our annual sales and earnings growth forecast for the 2011 business year from 10% to 15%, against 2010.

The full Second Quarter Report is available at our website under www.cenit.com/reports.

Tanja Marinovic
Tanja Marinovic
Marketing/ Investor Relations