First quarter 2014: CENIT increases EBIT by 21.5%

13.05.2014

Stuttgart, 13 May 2014 – In the first three months of 2014, CENIT Group achieved a significantly higher EBIT and a decline in sales compared to the same period last year. The PLM segment achieved a slight increase in sales, while the EIM segment has experienced a temporary drop in sales by around 25% compared to the previous year due to ongoing restructuring measures.

CENIT AG is pleased to note the continuous rise in sales of proprietary software, which increased by around 5%.

During the first 3 months, CENIT Group generated sales revenues of EUR k 29,793 (prior year: EUR k 31,816/-6.4%). Sales revenues in CENIT’s Consulting and Services segment declined by -7.3% to EUR k 13,799 (prior year: EUR k 14,884). Sales of third-party software also declined by -8.4% to EUR k 12,479 (prior year: EUR k 13,625). Sales proceeds from CENIT’s proprietary software grew from EUR k 3,224 to EUR k 3,392 (5.2%), owing primarily to successful end-customer sales of the software products FASTSUITE and cenitCONNECT in the PLM field and IBM FileNet System Monitor and ECLISO in the EIM field.

The gross yield (operating output less cost of materials) amounted to EUR k 18,781 (prior year: EUR k 19,238), representing decline of -2.4%. CENIT achieved EBITDA of EUR k 2,767 (prior year: EUR k 2,374/16.6%) and EBIT of EUR k 2,171 (prior year: EUR k 1,786/21.5%). Results per share were EUR 0.19 (prior year: EUR 0.15).

Orders Development

During the first three months, the Group-wide order intake totaled EUR k 33,874 (prior year: EUR k 34,380). On 31 March 2014, orders in hand amounted to EUR k 32,418 (prior year: EUR k 39,525).

Asset and Financial Situation

The enterprise has no liabilities in relation to credit institutions, either of a short-term or long term nature. On the balance-sheet date, equity capital totaled EUR k 37,519 (31 Dec. 2013: EUR k 35,930), accounting for an equity
ratio of 55.1% (31 Dec. 2013: 59.5%). On the balance-sheet date, bank
deposits and liquid assets totaled EUR k 34,879 (31 Dec. 2013: EUR k 26,632). The operative cash flow was EUR k 9,846 (prior year: EUR k 8,980).

Employees

On 31 March 2014, CENIT Group employed 674 staff (prior year: 679). Group-wide personnel costs for the reporting period were EUR k 12,592 (prior year: EUR k 13,049). CENIT is currently training 50 young professionals in various vocations. The trainees include students from the Dual-Training University of Baden-Württemberg (DHBW) in the fields of informatics and economics, as well as trainees in the field of information technology.

Outlook

For the current year, CENIT Group targets sales growth of 5%. With respect to the overall development a proportional development of the segments is ex-pected. Overall, CENIT is anticipating a rise of slightly more than 5% in earnings too (EBIT), which will be contributed to by both business divisions.
Please visit CENIT’s homepage for the full Q1 Report: www.cenit.com/reports.