• 413-0-0
26.10.2004

CENIT reached EBIT Margin of 12 % in the Third Quarter

Significant increase of earnings up to 3,9 Mill. Euro in the first 9 months - revenue rose over 10 %.

Ad hoc notification in line with Article § 15 Securities Trading Act

Stuttgart, October 26, 2004: CENIT recorded a significant increase in earnings up to 3.9 Mill. EUR in the past 9 months. The utilisation of the employees and the level of orders were extremely pleasant and confidently indicate the coming months. The consultancy business could be increased by 17 %, which resulted in an superproportional increase of the gross profit in comparison to the sales.

Consolidated sales rose by 10.5 % up to EUR 50.95 million (September 2003: EUR 46,12 million). The group gross profit reached EUR 34.3 million (2003: EUR 30.15 million/14 %). EBITDA for the group amounted to EUR 4.43 million (2003: EUR 0.91 million EUR/387 %). Group EBIT rose up to EUR 3.93 million (2003:EUR 0.12 million/3175 %). Group EBT was at EUR 3.98 million (2003: EUR 0.05 million/7860 %). Group EPS amounted to 0.71 EUR (2003: 0.01 EUR/7000 %) undiluted.

Group cash flow from operating activities totalled EUR 4.05 million. The Group’s total assets amounted from EUR 24.29 million to EUR 25.21 million. The equity ratio improved from 41% to 52%. At the end of the period under review, equity was at EUR 13.07 million (31 December 2003: EUR 10.06 million). Short-term liabilities to banks include only a goods financing loan of EUR 2.2 million (31 December 2003: EUR 3.25 million). At 30.09.2004, cash and cash equivalents totalled EUR 9.31 million (31 December 2003: EUR 7.15 million).

The CENIT Executive Board assumes that the positive sales and earnings trend of recent months will also continue in the remaining months of 2004. As a result of the higher significance of Outsourcing, Product Lifecycle Management solutions in the manufacturing industry and extending document archiving solutions for automated business process solutions, in particular for banks and retail companies, we expect that CENIT will not only strengthen its position but also extend it.

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