CENIT reports decline in sales and earnings in the first quarter of 2021

12.05.2021

Stuttgart, 12 May 2021 - During the first three months, CENIT group generated sales revenues of EUR k 36,222 (prior year: EUR k 39,228/-7.7%). Due to the ongoing global pandemic, CENIT expects the business environment to remain difficult in the fiscal year 2021, which is not likely to improve until the second half of the year. As expected, this resulted in a decline in sales in the first quarter.

Sales revenues in CENITs consulting and services segment decreased by -22.2% to EUR k 9,018 (prior year: EUR k 11,594). Sales of third-party software have slightly changed by -0.3% to EUR k 23,641 (prior year: EUR k 23,724). Sales proceeds from CENIT’s proprietary software decreased as well from EUR k 3,640 to EUR k 3,554 (-2.4%).

The gross profit (operating output less cost of materials) amounted to EUR k 17,980 (prior year: EUR k 20,023), representing a decrease of -10.2%. CENIT achieved EBITDA of EUR k 833 (prior year: EUR k 2,338/-64.4%) and EBIT of EUR k -522 (prior year: EUR k 805/>-100.0%). Results per share were -0.06 EUR (prior year: 0.06 EUR).

Orders Development
During the first three months, the group-wide order intake totaled EUR k 50,296 (prior year: EUR k 53,872). On March 31st, 2021 orders in hand amounted to EUR k 51,909 (prior year: EUR k 61,866).

Asset and Financial Situation
On the balance-sheet date, equity capital totaled EUR k 42,236 (31 Dec. 2020: EUR k 42,723), accounting for an equity ratio of 42.6% (31 Dec. 2020: 51.2%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 32,601 (31 Dec. 2020: EUR k 26,056). The operative cash flow was EUR k 7,676 (prior year: EUR k 9,653).

Employees
On March 31st, 2021, CENIT group employed 704 (prior year: 738). Group-wide personnel costs for the reporting period were EUR k 15,297 (prior year: EUR k 15,312).

Outlook
For the current year, the CENIT group expects sales of around 152.000 EUR k and earnings (EBIT) of around 4.900 EUR k provided that the general conditions do not get significantly worse because of the Corona pandemic.

Please visit CENIT’s homepage for the full 3 Months Report 2021: www.cenit.com/reports.