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10.11.2011

CENIT posts positive Q3 results on increased software sales

Results growth across all enterprise segments – improved capacity utilization in service and consulting

Stuttgart, 10 November 2011 – The trend set during the first half of the year has continued during the 3rd Quarter. During the first 9 months of 2011, CENIT AG attained a distinct on-year increase in results. Growth was achieved in both the product lifecycle management (PLM) and the enterprise information management (EIM) segments. Sales of both CENIT’s proprietary software and third-party software were up significantly against the previous year. Higher levels of capacity utilization in the service and consulting fields also contributed to higher proceeds. On the basis of these positive developments, the enterprise has again raised its projections for the current business year.

During the first 9 months of the year, CENIT Group achieved sales revenue of 77.94 m EUR (as at 09/2010: 64.82 m EUR/20%), posting EBITDA of 5.85 m EUR (as at 09/2010: 2.96 m EUR/98%) and EBIT of 4.28 m EUR (as at 09/2010: 1.72 m EUR/149%). Earnings per share amounted to 0.36 EUR (as at 09/2010: 0.15 EUR/140%).

Breakdown of Earnings

During the first 9 months, CENIT’s PLM segment achieved sales revenue of 55.95 m EUR (as at 09/2010: 46.53 m EUR/20%). The EIM segment attained sales of 21.99 m EUR against 18.29 m EUR posted for the same period of the previous year (20%). Sales of non-proprietary totaled 29.40 m EUR (as at 09/2010: 20.96 m EUR/40%). Sales of CENIT’s proprietary software grew from 5.86 m EUR to 8.83 m EUR (51%). Turnover from service and consulting amounted to 39.51 m EUR (as at 09/2010: 37.40 m EUR/6%). Other revenue totaled 0.20 m EUR (as at 09/2010: 0.6 Mio. EUR/-67%).

Orders Development

Group-wide, incoming orders during the first 9 months totaled 80.6 m EUR (as per 09/2010: 70.2 m EUR/15%). Orders in hand on 30 September 2011 amounted to 33.5 m EUR (as at 09/2010: 27.8 m EUR/20%).

Asset and Financial Situation

The asset and financial situation remains solid. On the balance-sheet date 30 September 2011, equity capital totaled approx. 30.89 m EUR (31 Dec. 2010: 29.04 m EUR), accounting for an equity ratio of 53% (31 Dec.  2010: 58%). On the balance-sheet date, 30 September 2011, bank deposits and securities totaled 21.93 m EUR (31 Dec. 2010: 13.31 m EUR). The enterprise remains debt-free.

Staff


On 30 September 2011, CENIT employed 664 staff group-wide (30 Sept. 2010: 649 *amended reporting)

Holdings/Foreign Subsidiaries

CENIT (SWITZERLAND) AG, Effretikon/Switzerland


During the 2nd Quarter of 2011, CENIT (Switzerland) AG merged with Transcat PLM AG (Switzerland). Over the first 3 Quarters, the subsidiary achieved sales revenue of 7.30 m EUR (as at 09/2010: 2.11 m EUR), posting EBIT of 0.70 m EUR (as at 09/2010: 0.12 m EUR).

CENIT NORTH AMERICA Inc., Auburn Hills/USA

Posting a sales total of 6.99 m EUR during the first 9 months (as at 09/2010: 3.83 m EUR), CENIT North America Inc. attained EBIT of 1.11 m EUR (as at 09/2010: -0.11 m EUR). The high rate of growth is due to a major one-off project.  

CENIT SRL, Iasi/Romania

CENIT SRL attained sales of 0.63 m EUR (as at 09/2010: 0.34 m EUR) and EBIT of 0.01 m EUR (as at 09/2010: -0.01 m EUR).

CENIT France SARL, Toulouse/France

During the first 3 Quarters, CENIT France SARL achieved total sales of 0.50 m EUR (as at 09/2010: 0.42 m EUR), accounting for EBIT of 0.05 m EUR (as at 09/2010: 0.04 m EUR).

CENIT Japan K.K., Tokyo/Japan

CENIT has been represented by a subsidiary in Japan since July of 2011. A current staff of three is focusing on Japanese clients in the PLM sphere. With sales of 0.02 m EUR, CENIT Japan K.K. posted EBIT of -0.08 m EUR.

Outlook

The enterprise currently expects positive results for the 4th Quarter as well. For the 2011 business year, CENIT AG projects a sales growth of approx. 10% against 2010, and on-year EBIT growth of approx. 40%.

To view the full 3rd Quarter Report, please go to www.cenit.com/reports.

Sandra Finger

Tanja Marinovic

Tanja Marinovic

+49 (0)711 7825 3320