Ad-hoc | 11 August 2010 07:50
CENIT AG / Half Year Results/Quarter Results
11.08.2010 07:50
Dissemination 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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CENIT business performance remains stable
Promising company acquisition
Stuttgart, 11 August 2010 - The first 6 months of 2010 confirm CENIT AG's
expectations for the full year and indicate sustained, stable business
development. While the automotive industry has posted strong sales
figures,it is still reluctant to invest. In addition, some car makers still
have short-time work in effect, making it difficult for CENIT to work at
full service capacity. A large-scale service contract for the auto industry
expired at the end of March, but CENIT was able to compensate this
shortfall by securing several new orders. More than that: CENIT was also
able to achieve growth in the product lifecycle management (PLM)
segment,and posted stable business with aerospace customers. In the
financial sector, however, the steady growth record of previous years was
interrupted, as evidenced by delayed service contracts and lagging software
sales in the enterprise information management (EIM) field. CENIT sees
growth opportunities particularly for the second half of the
year,traditionally the strongest period especially with respect to software
sales. At the beginning of the 3rd Quarter, on 1 July 2010, CENIT announced
the acquisition of conunit GmbH, a consulting provider primarily active in
the field of business intelligence and analysis. These topics are top
priority for many businesses making IT investments to increase
competitiveness. The acquisition price for conunit was in the lower
single-digit millions.
At the end of the 2nd Quarter, CENIT Group posted sales revenue of 41.4 m
EUR (2009: 43.1 m EUR/-4%). The gross profit amounted to 28.1 m EUR (2009:
29.7 m EUR/-5%). CENIT achieved EBITDA of 1.6 m EUR (2009: 1.5 m EUR/+3%)
and EBIT of 0.9 m EUR (2009: 0.8 m EUR/+4%). Earnings per share were 0.08
EUR (2009: 0.09 EUR).
Breakdown of Earnings
In the PLM segment, CENIT posted sales of 30.6 m EUR (2009: 30.2 m
EUR/+1%). The EIM segment accounted for sales of 10.7 m EUR after 12.8 m
EUR in 2009 (-16%). Sales of non-proprietary software totaled 12.5 m EUR
(2009: 11.3 m EUR/+10% *change in reporting). Sales of CENIT's proprietary
software increased slightly from 3.6 m EUR to 3.8 m EUR (+4%/*change in
reporting). Turnover from services and consulting totaled 24.6 m EUR (2009:
27.8 m EUR/-11%). Other turnover amounted to 0.5 m EUR (2009: 0.3 m EUR
/+80%).
Incoming Orders
Orders received by CENIT Group totaled 42.4 m EUR (2009: 39.7 m EUR/+7%).
On 30 June 2010, order backlog totaled 25.4 m EUR (2009: 24.0 m EUR/+6%).
Asset and Financial Situation
CENIT's asset and financial situation was marked by dividend payments in
the amount of 2.5 m EUR. The enterprise remains in a comfortable financial
position. On the balance-sheet date, equity capital amounted to approx.
26.6 m EUR (31.12.2009: 28.1 m EUR), with an equity ratio of 59%
(31.12.2009: 64%). At the end of the first half, bank deposits and
securities totaled 16.8 m EUR (31.12.2009: 19.5 m EUR). The enterprise
remains debt-free.
Employees
On 30 June 2010, CENIT employed 670 staff Group-wide (30.06.2009: 705).
Participations/Holdings
CENIT (SWITZERLAND) AG, Frauenfeld/Switzerland
CENIT (Switzerland) AG achieved sales proceeds of 1.4 m EUR (2009: 1.9 m
EUR) and EBIT of 0.04 m EUR (2009: 0.6 m EUR).
CENIT NORTH AMERICA Inc., Auburn Hills/USA
CENIT North America Inc. posted sales of 2.5 m EUR (2009: 2.5 Mio. EUR),
accounting for EBIT of -0.1 m EUR (2009: -0.4 m EUR).
CENIT SRL, Iasi/Romania
CENIT SRL attained sales of 0.2 m EUR (2009: 0.3 m EUR) and EBIT of -0.01 m
EUR (2009: 0.1 m EUR).
CENIT France SARL, Toulouse/France
CENIT France SARL achieved sales of 0.3 m EUR (2009: 0.2 m EUR) and EBIT of
0.01 m EUR (2009 0.03 m EUR).
Outlook
An end to short-time work in the automotive industry can be expected for
the 2nd half of the year. During the same period, a number of customers
will finalize decisions on CENIT-relevant service contracts. Based on past
experience, we also expect our software business to be especially strong
during the last months of the year. For these reasons, we anticipate
positive developments during the 2010 business year on the basis of the
momentum of 2009. We thus continue to adhere to the statements made in the
2009 Annual Report.
The full 2nd Quarter Report is available on our website at
www.cenit.de/quartalsbericht.
About CENIT:
The enterprise has been active as a specialist for product lifecycle
management, enterprise information management solutions and application
management services since 1988. CENIT is listed on the Prime Standard of
Deutsche Börse and currently employs around 700 staff. Among others, CENIT
serves clients such as Allianz, W&W, Daimler, EADS Airbus, VR kreditwerk,
BWB and Kuka. Many of our customers are medium-sized enterprises,
particularly from the automotive industry and the mechanical engineering
sectors, e.g. Jungheinrich, Flow, Viessmann or Georg Fischer.
http://www.cenit.de
Please send queries to:
CENIT AG
Fabian Rau
Industriestraße 52-54
D-70565 Stuttgart
Tel: +497117825-3185
Fax:+49711782544-4185
Email: f.rau@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.
11.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: CENIT AG
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
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Hamburg, München, Düsseldorf, Berlin
End of News DGAP News-Service
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