CENIT with a strong half-year result: Group revenues increase by 6.2% compared to previous year to EUR 73,912 k, EBIT increases by 19.5%


Stuttgart, August 2, 2022 - Continued strong consulting and service business (vs previous year: +18.9%) as well as increased license sales in Q2 determine the sales growth (vs previous year: +EUR 4,280 k/+6.2%) in the first half of 2022. The consulting and service business, which was already growing strongly in the first quarter (vs previous year: +13.9%) continued to do so extremely in the second quarter (vs previous year: +23.5%) and was also boosted by a significant increase in the sale of third-party software licenses (vs previous year: +33.4%) and a general increase in proprietary software business (vs previous year: +6.0%).

After six months, CENIT Group has generated sales revenues of EUR 73,912 k (previous year: EUR 69,632 k/+6.2%). Sales revenues in the CENIT consulting and services segment decreased by 18.9% to EUR 22,231 k (previous year: EUR 18,698 k). Sales of third-party software increased by 0.9% to EUR 43,654 k (previous year: EUR 43,257 k). Sales of CENIT's own software also increased from EUR 7,665 k to EUR 7,985 k (+4.2%). Due to the long-running proceedings regarding antitrust issues, the recently acquired ISR is included for only one month in the first half of the year.

Gross profit (operating performance less cost of materials) amounted to EUR 40,124 k (previous year: EUR 37,331 k) and thus increased by 7.5%. CENIT achieved EBITDA of EUR 3,378 k (previous year: EUR 3,520 k/-4.0%) and EBIT of EUR 1,119 k (previous year: EUR 936 k/+19.5%). Earnings per share amounted to Cent 4.6 (previous year: Cent 4.8). This result could be realized despite the fact that approx. EUR 1.3 million in (expense-reducing) short-time allowances were no longer paid in H1-2021, which illustrates the strength of CENIT's business model. Compared to the second quarter of 2021, consolidated sales in the second quarter of 2022 increased by 8.7% to EUR 38,514 k (previous year: EUR 35,419 k), but EBITDA decreased by -1.3% to EUR 2,654 k (previous year: EUR 2,688 k) due to increased costs and EBIT amounted to EUR 1,507 k after EUR 1,460 k in the previous year (+3.3%).

Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 37,576 k (Dec. 31, 2021: EUR 43,645 k). The equity ratio amounted to 31.9% (Dec. 31, 2021: 47.0%). Bank balances and cash and cash equivalents amounted to EUR 22,888 k as of the balance sheet date (Dec. 31, 2021: EUR 26,361 k). The operating cash flow reached EUR 9,280 k (previous year: EUR 9,714 k).

As of June 30, 2022, the number of employees in the Group was 858 (previous year: 695). Personnel expenses amounted to EUR 31,163 k in the CENIT Group in the reporting period (previous year: EUR 29,767 k).

We confirm our updated forecast for the CENIT Group for the current fiscal year 2022, according to which we expect consolidated sales of around EUR 170.0 million and consolidated earnings (EBIT) of around EUR 9.0 million despite the delayed consolidation of ISR. This forecast is subject to the express proviso that the global economic and industry-specific conditions do not deteriorate significantly in the current fiscal year 2022, particularly with regard to the growing inflation and economic risks in the context of the war in Ukraine and the continuing effects of the COVID 19 pandemic.

Please visit CENIT’s homepage for the entire half-year financial report 2022.

Tanja Marinovic
Tanja Marinovic
Marketing/ Investor Relations