Ad Hoc Report in accordance with §15 WpHG
Stuttgart, 11 February 2011 - CENIT AG achieved solid results during the 2010 business year. During the first months of 2010, customers were highly cautious due to reduced budgets, and short-time work continued in some CENIT segments. The second half of the year, however, saw a marked increase in customer appetite for investment - with positive effects on overall business. Customers evidently draw confidence from the improved economic conditions and are ready to invest budgets when they are released.
CENIT has posted a clear increase in sales of non-proprietary software, while revenue from consulting and services is down slightly. Budgeting has been adjusted in line with the current order volume. The positive trend of the past months has continued into January 2011.
According to preliminary, unaudited figures, sales totaled 92,5 m € (2009: 86.5 m € /7%). CENIT achieved EBITDA in the amount of 5.8 m € (2009: 5.3 m €/ 9%) and EBIT of 4m € (2009: 3.9 m €/3%). The on-year EBITDA increase is diminished by increased write-downs resulting from the acquisition of conunit GmbH. Earnings per share (EPS) attained 0.35 € (2009: 0.34 €/ 3%). On 31 December 2010, CENIT Group employed 634 staff plus approx. 43 trainees (2009: 647 plus approx. 48 trainees). On the balance-sheet date, equity capital totaled 28.9 m € (2009: 28.1 m €) and bank deposits and short-term securities totaled 14.3 m € (2009: 19.5 m €).
Outlook
CENIT AG has built a solid foundation for continued positive development. To achieve the results targets for the 2011 business year, the enterprise will focus on increased capacity utilization in the services segment and promote demand for CENIT’s proprietary software products. Additionally, we aim to expand our process consulting segment. The goal for 2011 is a performance and results increase in the order of 10%. We need to constantly enhance our market position and will therefore continue to invest in new technologies and remain on the lookout for acquisition opportunities in our core business sector.
Detailed results of the 2010 business year as well as the proposal on the appropriation of the net profits will be published together with the approved annual financial statements on 31 March 2011. The figures provided above are preliminary and unaudited consolidated figures within the meaning of IFRS.
