Ad-hoc | 8 August 2007 08:08
CENIT AG Systemhaus / Half Year Results/Interim Report
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Earnings before tax grow by 10% to 4.95 m €
Investments in staff development and internationalization
Stuttgart, August 8, 2007 – Traditionally, the demand for consultancy and
services has a strong impact on CENIT AG’s 2ndQuarter, just as expenditures
for hiring and attracting new employees, whose number is set to grow by
more than 10% over the current business year. On the balance-sheet date,
CENIT employed 578 staff members world-wide (2006: 544). Currently, a total
of 100 vacant positions are waiting to be filled. The expansion of our
software product portfolio and the necessary internationalization of our
business require additional strategic investments; these have been
initiated over the past months. Among them is the establishment of a
company in Toulouse,France, in close proximity to EADS Airbus, as well as
the faster-than-expected expansion of staff numbers in Romania, where a
total of 14 staff members are now employed. In addition to a very strong
1st Quarter, sales and earnings by CENIT’s product business should be
expected during the 4th Quarter, particularly with regard to the sales
cooperation with IBM/FileNet. For its part, IBM now projects software sales
for the second half of the year, due to the integration of FileNet.
Overview of Semi-annual Figures for 2007:
After 6 months, consolidated sales have increased slightly to a current
38.05 m € (06/2006: 37.41 m € / 2%). The gross surplus is 29.49 m €
(06/2006: 28.99 m € / 1,7%). During the reporting period, EBITDA attained
5.21 m € (06/2006: 5.26 m € / -1.6%), EBIT attained 4.68 m € (06/2006: 4.75
m / -1.5%). Pre-tax EBT grew by 10% to 4.95 m € (06/2006: 4.52 m €). A
significantly higher tax ratio of 37% during the 2nd Quarter (2006: 23%)
led to a consolidated result of 3.11 m € (06/2006: 3.50 m €). The Group’s
EPS thus reached 0.36 € per share(06/2006 adjusted: 0.42 €). On June 30,
2007, shareholder equity amounted to approx. 23.41 m € (12/2006: 24.3 m €),
accounting for an equity ratio of 66% (12/2006: 62%). On balance-sheet
date, the total of bank deposits and securities incl. current assets
amounted to 14.9 m € (12/2006: 18.7 m €). June 21, total dividends of 4.2
m. € were paid out to shareholders. Operative cash flow amounts to 6.26 m €
(06/2006: 5.12 m €).
Results for 2nd Quarter 2007
During the 2nd Quarter of 2007, CENIT Group achieved sales of 20.4 m €
(06/2006: 18.2 m € / 12%). Gross profits amounted to 13.85 m € (06/2006:
14.19 m € / -2.5%). EBITDA attained 1.93 m € (06/2006: 2.38 m € / -19%).
2nd Quarter earnings before interest and taxes amounted to 1.66 m €
(06/2006: 2.15 m € / -22.8%). EBT amounted to 1.80 m € (06/2006: 2.08 m €
/-13.5%), and the Group result for the 2nd Quarter is 1.11 m € (06/2006:
1.53 m €). The Group EPS reached 0.13 € per share (06/2006 adjusted: 0.18
€).
Breakdown of Sales
The sales volume of the service sector increased by 4% to currently 22.16 m
€ (06/2006: 21.32 m €), making it the strongest contributor to sales (58%).
During the first 6 months of the current business year, CENIT software
turnover amounted to 5.96 m € (06/2006: 6.20 m € / -4%). Thus, approx. 16%
of total sales can be attributed to CENIT’s proprietary software. Sales of
non-CENIT software increased by 14% to 4.03 m € (06/2006: 3.54 m €), thus
accounting for 11% of total turnover. The hardware business contracted by
7% to 5.90 m € (06/2006: 6.34 m €). As at balance-sheet date, this equalled
approx. 15% of total CENIT turnover.
Orders
As at 30 June 2007, Group-wide orders on hand have increased by 21% to
currently 22 m € (12/2006: 18.2 m €). Incoming orders amounted to approx.
46 m € (6/2006: 46 m €). During the 2nd Quarter, the total share of new
customers was 5%.
Outlook
CENIT’s Executive Board expects that CENIT and its partners IBM/FileNet,
SAP and Dassault will be able to increase earnings in the software sector
as projected, particularly during the second half of the year. The process
of internationalization and the consistent increase in staff will continue
in the future. The assessment of business opportunities remains positive,
and all efforts will be undertaken to fill the currently vacant, approx.
100 positions worldwide for software specialists, engineers and consultants
within the current year.
Send queries to:
CENIT AG Systemhaus
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: f.rau@cenit.de
About CENIT: Since 1988, the company has been active as a specialist for
product lifecycle management, enterprise content management solutions and
application management outsourcing. CENIT is listed on the Prime Standard
of Deutsche Börse and currently employs more than 570 staff. Among others,
CENIT serves clients such as Allianz, BMW, DaimlerChrysler, EADS, Airbus,
AXA, Metro, VW, as well as numerous medium-sized businesses.
http://www.cenit.de
Additional information: This press/ad hoc report may contain
future-oriented statements regarding the business, financial and earnings
situation of as well as profit projections for CENIT. Such future-oriented
statements are characterized by terms or statements such as 'the company
may' or 'the company will', 'expects', 'assumes ', 'is considering',
'intends to', 'plans', 'believes', 'will continue to' and/or 'estimates',
as well as similar terms and statements. Such statements contain no
guarantee that the projections will in fact be achieved. Rather, such
statements involve risks, imponderables and assumptions that are difficult
to predict and, in addition, are based on assumptions as to future events
which may prove to be incorrect. For this reason, actual events may diverge
significantly from the assumptions contained in the above statement. In a
future-oriented statement by which CENIT expresses expectations or
assumptions with regard to future events, these expectations or assumptions
are made in good faith, and it shall be assumed that they are made upon an
appropriate basis; however, it cannot be guaranteed that the said
statements, expectations or assumptions shall indeed occur, be attained or
fulfilled. The actual operative result may diverge significantly from such
future-oriented statements and is subject to certain risks. In this regard,
please refer to the Business Report of CENIT AG Systemhaus.
Contact:
Fabian Rau
Direktor Investor Relations
f.rau@cenit.de
Telefon: 0711 - 78 25 3185
Fax: 0711 - 78 25 44 4185
DGAP 08.08.2007
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Language: English
Issuer: CENIT AG Systemhaus
Industriestraße 52 - 54
70565 Stuttgart
Deutschland
Phone: +49 (0)711 78 25 - 30
Fax: +49 (0)711 78 25 - 4000
E-mail: aktie@cenit.de
Internet: www.cenit.de
ISIN: DE0005407100
WKN: 540710
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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