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07.05.2009

CENIT sees solid start into 2009 business year

Service business dominates 1st Quarter 2009

Ad Hoc Report in accordance with §15 WpHG

Stuttgart, 7 May 2009 – Despite a difficult overall economic situation, CENIT began the 2009 business year very solidly. During the first Quarter 2009, the Group recorded a 38% sales increase to 21.8 m € and a 94% improvement in results to 0.64 m €. Increased demand for CENIT’s application management outsourcing services is currently exerting a major influence on business performance. This development is offset by customer caution in the software product field.

Overview of 3rd Quarter Figures

Three months into the business year, Group-wide sales have reached 21.8 m € (03/2008: 15.8 m €/+38%). The gross surplus grew to 15.8 m € (03/2008:  13.8 m €/+14%). EBITDA attained 1.0 m € (03/2008: 0.6 m €/+67%). EBIT during the reporting period amounted to 0.64 m € (03/2008: 0.33 m €/+94%). The pre-tax result (EBT) was 0.68 m € (03/2008: 0.54 m €/+ 26%). The consolidated result was 0.5 m € (03/2008: 0.46 m €/+9%). Consolidated EPS (earnings per share) thus derive to 0.06 € per share (03/2008: 0.05 €/+20%). The operative cash flow was 1.1 m € (03/2008: 0.7 m €). On the balance-sheet date, bank deposits and securities incl. current assets totalled 18.1 m € (31.12.2008: 13.2 m €). The enterprise remains debt-free. Incoming orders totalled 26.3 m € (03/2008: 32 m €), and orders in hand amounted to around 30 m € (03/2008: 27 m €). The number of employees was 710 on the balance-sheet date (03/2008: 672).

Breakdown of Earnings

Sales in the services sector grew by 37% to a current 14.45 m € (03/2008: 10.55 m €), making services the strongest contributor to sales with a share of 67%. Sales of CENIT software during the first 3 months of the current business year totalled 2.09 m € (03/2008: 2.30 m € /-9%). Sales of CENIT’s proprietary software thus account for approx. 10% of total sales. The non-CENIT software business grew by 163% to 5.07 m € (03/2007: 1.93 m €), accounting for 23% of total sales.

Holdings – Foreign Subsidiaries

CENIT (Switzerland) AG achieved sales of 1.2 m € (03/2008: 1.0 m €), accounting for EBIT of 0.6 m € (03/2008: 0.5 m €/%).

CENIT North America Inc. accomplished sales of 1.6 m € (03/2008: 1.1 m €) and EBIT of - 0.07 m € (03/2008: - 0.03 m €).

With sales of 0.16 m € (03/2008: 0.2 m €), CENIT SRL achieved EBIT of 0.08 m € (03/2008: 0.08 m € ).

The CENIT company in Toulouse, France realized sales of 0.1 m € (03/2008: 0.07 m €) and EBIT of 0.01 m € (03/2008: 0.02 m €).

CAD Scheffler achieved sales of 0.4 m € (03/2008: 0.6 m €) and EBIT of 0.1 m € (03/2008: 0.05 m €).

Outlook

The Managing Board of CENIT continues to expect stable development within the Group. However, due to the ongoing insecurity of the economic environment and the investment caution exhibited by our customers, we are unable to provide a specific forecast for earnings from sales of software and services during the current business year.

Learn more about the CENIT quartely report.

Learn more about the researches according CENIT.

Christoph Michl

Tanja Marinovic

Tanja Marinovic

+49 (0)711 7825 3320