CENIT concludes successful 2015 business year: EBIT growth of approx. 14%; Management Board proposes dividend of EUR 1.00 per share
Stuttgart, March 29, 2016 – CENIT AG has concluded a successful 2015 business year. The software company again achieved EBIT growth of approx. 14 percent. Overall sales revenue fell short of the projected increase of 3 percent. In the proprietary software field, CENIT was able to boost sales by over 25 percent on-year. Based on the annual financial statement of CENIT Aktiengesellschaft, Stuttgart, the Management and Supervisory Boards will propose to the Annual Meeting of Shareholders on May 6, 2016 that a dividend of EUR 1.00 be disbursed per share.
During the 2015 business year, CENIT Group achieved total sales revenues of EUR 121,479 k (2014: EUR 123,394 k/-1.6%). Sales of CENIT’s proprietary software amounted to EUR 15,949 k, a significant increase of 25.3% over the previous year (EUR 12,728 k). Sales revenues from CENIT Consulting and Services totaled EUR 50,862 k and thus decreased by 5.7% on-year (EUR 53,943 k). Sales of third-party software also contracted slightly (-3.3%) to EUR 54,391 k (2014: EUR 56,251 k).
In 2015, gross profits (operating performance less cost of materials) totaled EUR 76,379 k (2014: EUR 75,200 k), an increase of 1.6%. CENIT achieved EBITDA in the amount of EUR 12,696 k (2014: EUR 11,662 k/8.9%) and EBIT of EUR 10,601 k (2014: EUR 9,328 k/13.6%). Earnings per share were EUR 0.87 (2014: EUR 0.76/14.5%).
During the 2015 business year, orders received by CENIT Group totaled EUR 124,901 k (2014: EUR 122,552 k). Orders in hand on December 31, 2015 amounted to EUR k 37,914 (2014: EUR 34,578 k).
Asset and Financial Situation
CENIT has no liabilities in relation to credit institutions, whether short-term or long-term. On the balance-sheet date, the company’s equity capital was EUR 39,843 k (2014: EUR 39,352 k), representing an equity ratio of 59.6% (2014: 58.8%). On the balance-sheet date, bank deposits and liquid assets totaled EUR 33,941 k (2014: EUR 33,250 k). Operative cash flow amounted to EUR 9,465 k (2014: EUR 9,401 k). In 2015, cash flow was influenced by a dividend payment to shareholders in the total amount of EUR 7,531 k and investments in the amount of EUR 1,643 k.
On December 31, 2015 CENIT Group employed 628 staff worldwide (2014: 659). Consolidated personnel expenditures during the reporting period were EUR 48,554 k (2014: EUR 49,129 k). CENIT currently provides training for 43 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 6, 2016 that a dividend of EUR 0.50 per share, as well as the base dividend of EUR 0.50 per share announced during the previous year, be disbursed from CENIT AG’s unappropriated profit in the amount of EUR 8,437 k.
An equity ratio of well over 50% places CENIT on very secure footing. This lets CENIT act as a strong and reliable partner to its customers.
For the current business year, CENIT Group anticipates sales growth of up to 5% and an increase in operating results (EBIT) in the high single digits.
The complete 2015 Annual Report is available in German and English on the CENIT homepage: www.cenit.com/reports.