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06.11.2008

CENIT sees increased sales and results in 3rd quarter

Outlook for 2008 reconfirmed

Stuttgart,  6 November 2008 – During the 3rd Quarter, CENIT achieved a 28% increase in Group-wide sales, from 17.5 to 22.3 m €. Simultaneously, the operative result (EBIT) rose by 6% to 1.9 m €. This strongly reconfirmed the 2008 sales expectations projected in mid-year, namely a total of 75 m € with an operative result (EBIT) between 4 and 4.5 m €.. This permitted us to halt the decline in results seen during the first half of the year. During the reporting period, the number of employees rose by 21% from 602 to 726 Group-wide.

Overview of 3rd Quarter

During the 3rd Quarter, Group-wide sales grew by 28% to 22.3 m € (Q3/2007: 17.5 m €). The gross surplus increased by 18% to 16.6 m € (Q3/2007: 14.1 m €). EBITDA attained 2.5 m € (Q3/2007: 2.1 m € / 19%). EBIT during the reporting period amounted to 1.9 m € (Q3/2007: 1.8 m € / 6%). The pre-tax result (EBT) was 2.1 m € (Q3/2007: 2.1 m € / 0%). The consolidated result attained 1.6 m € (Q3/2007: 1.5 m € / 7%). Consolidated EPS (earnings per share) thus derive to 0.19 € per share (Q3/2007: 0.18 € / 6%).

Overview of 3rd Quarter Figures

After 9 months, Group-wide sales attained 56.6 m € (09/2007: 55.6 m € / 2%). The gross surplus grew by 3% to 44.9 m € (09/2007: 43.6 m €). EBITDA reached 3.9 m € (09/2007: 7.3 m € / -47%). EBIT during the reporting period amounted to 2.8 m € (09/2007: 6.5 m € / -57%). The pre-tax result (EBT) was 3.3 m € (09/2007: 7.0 m € / -53%). The consolidated result was 2.6 m € (09/2007: 4.6 m € / -43%). Consolidated EPS (earnings per share) thus derive to 0.31 € per share (09/2007: 0.55 € / -44%). The operative cash flow was 4.5 m € (09/2007: 7.4 m € / -39%). On the balance-sheet date, the total of bank deposits and securities incl. current assets amounted to 9.3 m € (31.12.2007: 18.3 m €). The equity ratio was 64% (09/2007: 70.8%). The enterprise remains free of bank liabilities. Incoming orders grew by 21%, accounting for a total of approx. 74 m €. (09/2007: 61 m €).

Holdings – Foreign Subsidiaries

CENIT (Switzerland) AG achieved sales of 3.7 m € (09/2007: 2.5 m €), accounting for EBIT of 2.1 m € (09/2007: 1.4 m €).
CENIT North America Inc. accomplished sales of 4.9 m € (09/2007: 3.8 m €) and EBIT of 0.2 m € (09/2007: 0.3 m €).
CENIT SRL achieved sales of 0.5 m € (09/2007: 0.2 m €) and EBIT of 0.1 m € (09/2007: 0,02 m €).
The CENIT company in Toulouse, France generated sales of 0.2 m € and EBIT of 0 m €.
cad schleffler GmbH, incorporated into CENIT Group since January 2008, achieved sales of 2.1 m € and  EBIT of 0.4 m €.
Breakdown of Earnings
The sales volume in the services sector grew by 12% to a current 37.1 m € (09/2007: 33.2 m €), making it the strongest contributor to sales with share of 66%. During the first 9 months of the current business year, sales of CENIT software totaled 7.7 m € (09/2007: 8.6 m € / -10%). Thus, approx. 14% of overall sales can be attributed to sales of CENIT’s proprietary software. Sales of non-CENIT software increased by 51% to 9.4 m € (09/2007: 6.2 m €) and thus accounted for 17% of total sales. The hardware business contracted by 68% to 2.4 m € (09/2007: 7.6 m €), equaling approx. 4% of total CENIT sales.

Outlook

For the 2008 business year, CENIT’s management reaffirms its sales expectations of 75 m € as well as its Group-wide EBIT forecast of between 4 and 4.5 m €.
Please send queries to:

CENIT AG Systemhaus
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: f.rau@cenit.de


About CENIT: Since 1988, the company has been active as a specialist for product lifecycle management, enterprise content management solutions and application management outsourcing. CENIT is listed on the Prime Standard of Deutsche Börse and currently employs more than 720 staff. Among others, CENIT serves clients such as Allianz, LHI, Daimler, EADS Airbus, LBS, Metro, as well as numerous medium-sized businesses particularly from the automotive industry and the mechanical engineering sector, e.g. Dürr, Georg Fischer or Leoni. http://www.cenit.com


Additional information: This press/ad hoc report may contain future-oriented statements regarding the business, financial and earnings situation of as well as profit projections for CENIT. Such future-oriented statements are characterized by terms or statements such as "the company may" or "the company will", "expects", "assumes ", "is considering", "intends to", "plans", "believes", "will continue to" and/or "estimates", as well as similar terms and statements. Such statements contain no guarantee that the projections will in fact be achieved. Rather, such statements involve risks, imponderables and assumptions that are difficult to predict and, in addition, are based on assumptions as to future events which may prove to be incorrect. For this reason, actual events may diverge significantly from the assumptions contained in the above statement. In a future-oriented statement by which CENIT expresses  expectations  or assumptions with regard to future events, these expectations or assumptions are made in good faith, and it shall be assumed that they are made upon an appropriate basis; however, it cannot be guaranteed that the said statements, expectations or assumptions shall indeed occur, be attained or fulfilled. The actual operative result may diverge significantly from such future-oriented statements and is subject to certain risks. In this regard, please refer to the Business Report of CENIT AG Systemhaus.