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21.08.2001

Six months results 2001

Adhoc-announcement following § 15 WpHG

Stuttgart, August 9th 2001 – The sales volume of CENIT AG Systemhaus Gruppe records an increase of 40 per cent to 62.5 m. EUR in the first six months of 2001 (for previous year 2000: 44.7 m. EUR). The gross profits of the CENIT group increased by 38 per cent to 35.7 m. EUR (previous year 2000: 25.8 m. EUR). The EBIT results in minus 4.985 m. EUR (for previous year 2000: minus 0.4 m. EUR) and is therefore clearly below expectations. The EBITDA equals minus 2.18 m. EUR (for previous year 2000: 1.1 m.
EUR). The earnings per share result in minus 1.35 EUR (for previous year 2000: minus 0.16 EUR). The employee number increased by 9.5 per cent to 885 (June 30th 2000: 808). In the course of the second quarter, the market conditions have further deteriorated in the IT field. Due to the current negative market conditions CENIT expects a considerably weaker sales volume growth for the third and fourth quarter, as well as a balanced result for the complete financial year 2001.
CENIT expects that the present downturn of the automobile market in the USA will also impair the network cores in the e-engineering. Here, CENIT can still profit from the strong customer base, however, must accept losses in the USA. For the first time, the subsidiary CENIT America shows losses, which strongly influence the overall result of the CENIT group. CENIT has already taken up a number of further measures to stop the economic consequences of the current market weakness. The implementation of cost reduction programs is part of it including a discontinuation. A direct reaction to this development in the USA is the significant reduction of employee numbers and the closing of the office in Charlotte. Additionally, the branch office in Manchester, UK, was closed. The negative economic developments in the UK and Switzerland could be stopped. Both subsidiaries gained a positive result in the second quarter of 2001. In Germany, the office in Friedrichshafen was closed and the number of administrative employees was reduced. The low demand for e-business services also affects the result development negatively. The sales volume and result expectations have not been met. The subsidiary Spring in France develops satisfactorily. This subsidiary could gain a definite positive result and clearly exceed the sales volume expectations.

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