CENIT concludes successful 2016 business year: EBIT growth of approx. 12%; Management Board proposes dividend of EUR 1.00 per share
Stuttgart, March 31, 2017 – CENIT AG has concluded a successful 2016 business year. The software company achieved EBIT growth of approx. 12 percent. Sales increased by around 2 percent. In the proprietary software field, CENIT was able to boost sales by over 10 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 12, 2017 that a dividend of EUR 1.00 be disbursed per share.
During the 2016 business year, CENIT Group achieved total sales revenues of EUR 123,774 k (2015: EUR 121,479 k/+1.9%). Sales of CENIT’s proprietary software amounted to EUR 17,572 k, an increase of 10.2% over the previous year EUR 15,949 k. Sales revenues from CENIT Consulting and Services totaled EUR 48,420 k and thus decreased by -4.8% on-year (EUR 50,862 k). Sales of third-party software increased by 5.9% to EUR 57,588 k (2015: EUR 54,391 k).
In 2016, gross profits (operating performance less cost of materials) totaled EUR 77,038 k (2015: EUR 76,379 k), an increase of 0.9%. CENIT achieved EBITDA in the amount of EUR 14,064 k (2015: EUR 12,696 k/+10.8%) and EBIT of EUR 11,849 k (2015: EUR 10,601 k /+11.8%). Earnings per share were EUR 0.97 (2015: EUR 0.87 /+11.5%).
During the 2016 business year, orders received by CENIT Group totaled EUR 124,815 k (2015: EUR 124,901 k). Orders in hand on December 31, 2016 amounted to EUR 35,223 k (2015: EUR 37,914 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 40,578 k (2015: EUR 39,843 k), representing an equity ratio of 56.2% (2015: 59.6%). On the balance-sheet date, bank deposits and liquid assets totaled EUR 33,606 k (2015: EUR 33,941 k). Operative cash flow amounted to EUR 9,055 k (2015: EUR 9,465 k). In 2016, 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 1,221 k.
On December 31, 2016 CENIT Group employed 615 staff worldwide (2015: 628). Consolidated personnel expenditures during the reporting period were EUR 48,880 k (2015: EUR 48,554 k). CENIT currently provides training for 40 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 12, 2017 that a dividend of EUR 0.50 per share, as well as the base dividend of EUR 0.50 per share, be disbursed from CENIT AG’s unappropriated profit in the amount of EUR 8,393 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 2017 business year, CENIT Group anticipates sales growth of 2% and a consistent EBIT.
The complete 2016 Annual Report is available in German and English on the CENIT homepage: www.cenit.com/reports.