Ad-hoc | 13 November 2003 07:01

CENIT AG Systemhaus english

CENIT achieved a positive net income with the 9-monthly figures Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Profit is also expected for the fourth quarter Stuttgart, November 13th 2003 – CENIT has made considerable progress with the 9- monthly figures and achieved consolidated growth of 107% to EUR 0.05 million (2002:EUR -0.7 million). Consequently, we are reporting above-par earnings throughout the Group. The main factor behind the earnings situation is the stable development of business in the highest-revenue business areas for Product Lifecycle Management Consulting and IT Outsourcing Services. The e-business segment, with a focus on document management solutions, also confirmed the positive trend first seen in the second quarter. The expectation is of continuing positive development in this area. Sales revenue continued to fall throughout the Group, as hardware revenue is still declining at a considerable rate and the expansion of the profitable consulting business is being strategically promoted. CENIT Germany performed admirably in the period, generating above-par EBITDA of EUR 1.98 million (2002:EUR 1.38 million/44%) despite a 16% decline in revenue to EUR 44.81 million. EBIT increased significantly and reached EUR 1.23 million (2002:EUR 0.12 million/925%). EBT amounted to EUR 1.24 million (2002:EUR – 0.10 million /1340%). CENIT’s consolidated revenue was EUR 46.12 million (2002:EUR 67.63 million/- 31.8%). The gross profit stood at EUR 30.15 million (2002:EUR 39.58 million /- 23.8%). EBITDA for the Group amounted to EUR 0.91 million (2002:EUR 1.24 million /-27%). After nine months, consolidated EBIT was positive again for the first time since 1999 and reached EUR 0.12 million (2002:EUR -0.58 million /121%). Consolidated EBT was EUR 0.05 million (2002:EUR -0.89 million /106%). EPS for the Group works out at EUR 0.01 (2002:EUR -0.17 /106%). Group cash flow from operating activities totalled EUR 5.22 million (2002:EUR -2.27 million /330%). The consolidated balance sheet total declined from EUR 27.52 million to EUR 18.56 million. The equity ratio improved from 30.06% in 2002 to 44.61%. At the end of the reporting period, equity amounted to EUR 8.3 million (31.12.2002:EUR 8.3 million). Short-term borrowings were reduced dramatically and only amount to EUR 1.02 million (31.12.2002:EUR 6.15 million). Cash and cash equivalents stood at EUR 2.9 million as at 30 September 2003 (31.12.2002:EUR 2.5 million). end of ad-hoc-announcement (c)DGAP 13.11.2003 ——————————————————————————– WKN: 540710; ISIN: DE0005407100; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130701 Nov 03