CENIT publishes 2010 Annual Report


Sales growth owed primarily to non-proprietary software –

dividend proposal of 0.15 EUR per share

Ad Hoc Report in accordance with §15 WpHG

Stuttgart, 31 March 2011 – The positive annual result of CENIT is the product of increased customer willingness to make IT investments, particularly during the last months of the year. Overall sales and EBITDA results were both up on-year. Based on the balance-sheet figures, CENIT’s Managing and Supervisory Boards will propose to the General Shareholders’ Meeting on 26 May that a dividend of 0.15 EUR per share be distributed.

During the 2010 business year, CENIT Group achieved sales revenue of 93.2 m EUR (2009: 86.5 m EUR/+8%). Sales of non-proprietary software increased significantly by approx. 30% to 31.9 m EUR (2009: 24.6) on the strength of the Value Added Reseller business with our partner Dassault Systèmes. Sales of CENIT’s proprietary software were up slightly at 9.9 m EUR (2009: 9.7 m EUR/+2%). Turnover from services and consulting amounted to 50.6 m EUR (2009: 51.3 m EUR/-1%). Other sales totaled 0.7 m EUR (2009: 0.9 m EUR).

Gross profits totaled 61.2 m EUR (2009: 59.4 m EUR/+3%). CENIT achieved EBITDA of 5.74 m EUR (2009: 5.29 m EUR/+8%) and EBIT of 3.97 m EUR (2009: 3.89 m EUR/+2%). Earnings per share were 0.36 EUR (2009: 0.33 EUR/+9%).


CENIT (SCHWEIZ) AG, Frauenfeld/Switzerland

During the past business year, CENIT (Switzerland) achieved sales revenues of 3.8 m EUR (2009: 3.3 m EUR), accounting for EBIT of 0.45 m EUR (2009: 0.76 m EUR). In Switzerland, our focus lies on PLM solutions by Dassault Systèmes and EIM solutions by IBM. 5 staff members work with clients primarily from the manufacturing industry and the financial services sector.


CENIT North America Inc. attained sales of 6.7 m EUR (2009: 6.2 m EUR) and EBIT of 0.23 m EUR (2009: -0.2 m EUR). In the US, CENIT focuses on marketing products in the field of PLM. These efforts primarily address customers from the aerospace and manufacturing industries. 25 staff members are active in the service and sales segments.

CENIT SRL, Iasi/Romania

CENIT SRL reported total sales of 0.5 m EUR (2009: 0.5 m EUR), accounting for EBIT of 0.03 m EUR (2009: 0.1 m EUR). 17 staff members are active in service provision and software development. Since the second half of 2010, CENIT is also accredited as Value Added Reseller (VAR) for Dassault Systèmes in Romania and distributes PLM solutions locally.

CENIT France SARL, Toulouse/France

CENIT France SARL posted sales of 0.67 m EUR (2009: 0.47 m EUR) and EBIT of 0.07 m EUR (2009: 0.06 m EUR). The 6 staff members primarily serve our client EADS Airbus in Toulouse in the fields of project consulting and tendering.

Incoming Orders

During the previous business year 2010, Group-wide incoming orders totaled 103.4 m EUR (2009: 84.0 m EUR). On 31 December 2010, orders in hand amounted to 38.3 m EUR (2009: 27.7 m EUR). Particularly in the automotive and manufacturing industries, confidence in the global economy is on the rise. As a result, a number of promising contracts were won the 4th Quarter 2010 whose effects will extend into 2011.

Asset and Financial Status

There are no liabilities in relation to banks and lending institutions – neither short-term not long-term. On the balance-sheet date, equity capital totaled 29.04 m EUR (2009: 28.08 m EUR). The equity ratio is 58%. (2009: 64%). On the balance-sheet date, bank deposits and liquid assets totaled 13.3 m EUR (2009: 18.6 m EUR). At 2.0 m EUR (2009: 9.3 m EUR), the operative cash flow is down from the previous year despite a slight increase in the consolidated result before taxes (EBT). As a result, the net working capital and thereby our forward commitments have grown. The on-year growth of investments is primarily a consequence of the acquisition of conunit GmbH).


On 31 December 2010, the total number of staff Group-wide was 634 (2009: 647). Personnel costs during the reporting period totaled 40.74 m EUR (2009: 40.63 m EUR). In 2010, a major focus of CENIT’s human resources work was on the introduction of a new competency model. This model and the annual staff discussions support our employees in their personal and professional development.


The solid foundation created over the past years kept CENIT stable throughout the crisis years. The enterprise showed that it is able to achieve solid results even in troubled times. Although the economy is now on the road to recovery, CENIT will continue to adhere to its sustainability-oriented business strategy. However, we will also invest in inorganic growth whenever the situation permits.

CENIT’s aim is to grow profitably in all segments. Given the ongoing economic recovery, the preconditions for achieving this objective are good. Following a solid 2010 business year, CENIT expects renewed growth in 2011. From the current vantage point, the enterprise assumes that sales and results growth of approx. 10% (adjusted for special factors) can be achieved for both the consolidated and the individual financial statements. For the subsequent 2012 business year, we expect growth rates in the same order of magnitude. As a qualification, we must however note that these growth forecasts are highly contingent on the further development of the economy in Germany and in our target markets worldwide, as well as on the willingness of our customers to continue investing.

With the acquisition of conunit GmbH in the summer of 2010, CENIT was able to add important new elements to its portfolio. In future, we will also be able offer our clients services in the future-oriented field of business intelligence (BI). Enterprises and customers have an urgent need to address this topic. Indeed, major analysts such as Gartner, PAC, Forrester and IDC list the issue as one of the most important IT themes of the coming years. For this reason, CENIT expects to be able to further expand this segment in the coming years.

We intend to leverage the following factors toward increased sales and results targets: The enterprise will continue its activities both in Europe and the US. Additionally, we will sound out new opportunities in the Pacific and East Asia regions. Aside from acquiring new customers, a prime focus will lie on growth in the relevant market segments. We will sustainably continue our collaboration with our partners Dassault Systèmes, IBM and SAP so as to position ourselves as a long-term strategic partner of these enterprises. 

The complete 2010 Business Report is available in German and English at CENIT’s homepage: www.cenit.com/annualreport

Tanja Marinovic
Tanja Marinovic
Marketing/ Investor Relations