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CENIT improves 9-months results by 92 %

Turnaround in Germany already reached

Stuttgart, 25.11.2002 CENIT managed to maintain its positive earnings performance in the third quarter of the financial year 2002, thus emulating the accomplishments of the two preceding quarters. Within the Group, EBITDA have been improved by 138%. Currently standing at EUR 1.24 million, EBITDA is well above par. The successful expansion of our activities in the area of Product Lifecycle Management (PLM) is considered to be particularly conducive to achieving positive bottom-line results for the full financial year. The company has gained further market share in the area of Product Lifecycle Management, while also cementing its position by extending its alliance with IBM and Dassault. In the course of the financial year 2002, we have successfully adjusted our resources and cost structures in line with our customers’ investment behaviour and the prevailing economic climate. Earnings performance in Germany is of particular interest to the company, in view of the fact that approx. 80% of our revenues are generated in this country. Despite the prevailing economic difficulties, CENIT was able to achieve revenues of EUR 53.13 million in Germany (09/2001: EUR 64.96 million). EBITDA for Germany stood at EUR 1.33 million after the first nine months of 2002, a year-on-year increase of 293% (09/2001: loss of EUR 0.69 million before interest, taxes, depreciation and amortisation). For the second time in succession CENIT has posted positive EBIT in Germany, amounting to EUR 0.07 million. (09/2001: - 3.20 EUR million)

Consolidated revenues for the Group amounted to EUR 67.63 million (09/2001: EUR 90.03 million). Group EBITDA improved by 138 % to EUR 1.24 million (09/2001: loss of EUR 3.21 million before interest, taxes, depreciation and amortisation). Our consolidated loss before interest and taxes amounted to EUR 0.58 million, a 92% year-on-year improvement (09/2001: loss of EUR 7.22 million before interest and taxes.). The consolidated loss before taxes improved to EUR 0.92 million (09/2001: loss of 7.80 million before taxes). At minus EUR 0.17, our EPS – basic and diluted – has also improved on the previous year’s figure (09/2001: minus EUR 1.86 / minus EUR 1.78). As at the balance sheet date, CENIT employed 574 people (09/2001: 862).

Please contact:

CENIT AG Systemhaus
Prime Standard Listing - ISIN DE0005407100
Fabian Rau
Vice President Investor Relations & Marketing
Industriestraße 52-54, D-70565 Stuttgart
Tel.:  +49 711 7825-3185
Fax:  +49 711 782544-4185
E-Mail: info@cenit.de