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07.04.2014

CENIT with stable revenue and an EBIT increase of about 4% compared to previous year

Stuttgart, 07 April 2014 - CENIT AG concluded the fiscal year 2013 successfully. In a challenging economic environment, the established software and consulting company increased its earnings in EBIT compared to the previous year. Based on the financial statement for CENIT Aktiengesellschaft, Stuttgart, the Management and Supervisory Board will propose at the shareholders’ meeting on 16th May 2014 that a dividend of EUR 0.35 per share be paid.

In the fiscal year 2013, the CENIT Group achieved revenues of EUR 118,921 k (PY:EUR 118,854 k/0.1%). Revenue in CENIT's consulting and services division totaled 55,631 and declined slightly by -1,9% (PY: EUR 56,697 k). Sales of third party software thereby increased by 2.1% to EUR 50,248 k (PY: EUR 49,194 k). Sales of CENIT's proprietary software increased from EUR 12,311 k to EUR 12,791 k (3.9%). In particular, the software products FASTSUITE and cenitCONNECT in PLM and IBM FileNet System Monitor and ECLISO in the EIM area were successfully sold to end customers.
     
Gross profits (operating revenue less cost of materials) totaled EUR 73,242 k in 2013 (PY: EUR 73,579 k), and declined slightly by 0.5%. CENIT achieved an EBITDA of EUR 10,635 k (PY: EUR 11,044 k/-3.7%) and an EBIT of EUR 8,331 k (PY: EUR 8,017 k/3.9%). Earnings per share were EUR 0.70 (PY: EUR 0.65/7.7%).

Orders Received
 
The incoming orders within the Group amounted in the past financial year 2013 EUR 111,824 k (PY: EUR 116,510 k). The order backlog as of 31st December 2013 amounted to EUR 36,868 k (PY: EUR 43,593 k).
 
Assets and Financial Situation

 
There are no liabilities with banks - neither of a short-term nor a long-term nature. As of the balance sheet date, the shareholders' equity was EUR 35,930 k (PY: EUR 34,648 k). The equity ratio is 59.5% (PY: 58.7%). The balance of cash and cash equivalents as of the balance sheet date amounts to EUR 26,632 k (PY: EUR 23,779 k). Operative cash flow reached EUR 8,854 k (PY: EUR 10,444 k). In 2013, the cash flow was affected by the payment of the dividend to shareholders totaling EUR 4,602 k and by investments amounting to EUR 1,219 k.

Employees
 
On 31st December 2013, the number of employees within the Group was 671 (PY: 675). Personnel expenses in the reporting period amounted to EUR 47,728 k in the CENIT Group (PY: EUR 47,456 k). CENIT is currently training 50 young people in various apprenticeships and occupations. Some of the trainees are students of computer science and economics at the Dual University Baden-Württemberg (DHBW), as well as trainees in the field of information technology.

Outlook
 
CENIT has a solid basis with an equity ratio well in excess of 50%. This allows CENIT to be a strong and reliable partner to its customers.

For the current business year, CENIT Group expects a revenue and earnings growth of 5%, which will be contributed to by both business divisions.
The complete Annual Report 2013 is available in German and English versions on the CENIT homepage: www.cenit.com/reports