Successful 2017 business year for CENIT: sales increase of 23%, EBIT increases by around 8%, dividend proposal of the Management Board EUR 1.00 per share
During the 2017 business year, CENIT Group achieved total sales revenues of EUR 151,701 k (2016: EUR 123,774 TEUR/22.6%). Sales of CENIT’s proprietary software remained almost unchanged at EUR 17,559 k, compared to EUR 17,572 k in the previous year. Sales revenues from CENIT Consulting and Services totaled EUR 51,618 k and thus rose by 6.6% on-year (2016: EUR 48,420 k). Due to the acquisition of the KEONYS Group, sales of third-party software increased by 43.0% to EUR 82,362 k (2016: EUR 57.588 k).
CENIT achieved EBITDA in the amount of EUR 15,269 k (2016: EUR 14,064 k/8.6%) and EBIT of EUR 12,836 k (2016: EUR 11,849 k/8.3%). Earnings per share were EUR 1.07 EUR (2016: EUR 0.97/+11.5%).
During the 2017 business year, orders received by CENIT Group totaled EUR 161,955 k (2016: 124,815 EUR k). Orders in hand on December 31, 2017 amounted to EUR 45,477 k (2016: EUR 35.223 k).
Asset and Financial Situation
On the balance-sheet date, the company’s equity capital was EUR 40,855 TEUR (2016: EUR 40,578 k), representing an equity ratio of 46.8% (2016: 56.2%). On the balance-sheet date, bank deposits and liquid assets totaled EUR 23.692 k (2016: EUR 33.606 k). On the other hand, there are current financial liabilities in amount of EUR 3,152 k (2016: EUR 0 k). Operative cash flow amounted to EUR 3,917 k (2016: EUR 9,055 k). In 2017, cash flow was influenced by a dividend payment to shareholders in the total amount of EUR 8,368 k and investments in the amount of EUR 7,744 k.
On December 31, 2017 CENIT Group employed 764 staff worldwide (2016: 615). Consolidated personnel expenditures during the reporting period were EUR 53,060 k (2016: EUR 48,880 k). CENIT currently provides training for 42 young professionals in a variety of occupations. Trainees include informatics and economics students from the Dual University of Baden-Württemberg (DHBW) and vocational trainees in the field of information technology.
The Management and Supervisory Boards will propose to the General Meeting of Shareholders on May 18, 2018 that a dividend of EUR 1.00 per share, be distributed from CENIT AG’s unappropriated profit in the amount of EUR 8,393 k.
An equity ratio of almost 50% places CENIT on very secure footing. This lets CENIT act as a strong and reliable partner to its customers.
For the 2018 business year, CENIT Group anticipates sales growth of 25% with EBIT remaining unchanged.
The complete 2017 Annual Report is available in German and English on the CENIT homepage: www.cenit.com/reports.