Media | 11 August 2011 07:46

CENIT posts sales and earnings growth in first 6 months of 2011

CENIT AG / Key word(s): Finance/

11.08.2011 / 07:46

CENIT posts sales and earnings growth in first 6 months of 2011

Positive development underpinned by high software sales and growing demand for services

Stuttgart, 11 August 2011 – The results of the first 6 months of 2011 increased in comparison to the same period last year. Increased demand is coming especially from the manufacturing industry and from automotive suppliers, leading to sustained growth in the product lifecycle management (PLM) field. However, the enterprise information management (EIM) segment was likewise able to achieve higher sales during the first half of the year. Overall, sales of CENIT's proprietary software and third-party software were up significantly against the previous year. Based on these positive developments, we have raised our annual forecast for the 2011 business year. The precondition for achieving this goal is continued stability of the business environment.
With the acquisition of Transcat PLM in Switzerland, CENIT AG is strengthening its presence on the international market. In July, CENIT also established a subsidiary in Japan, so that the enterprise is now directly represented on the Asian continent.

By the end of the 2nd Quarter, CENIT Group posted sales revenue of 50.3 m EUR (2010: 41.4 m EUR/22%). EBITDA totaled 2.9 m EUR (2010: 1.6 m EUR/85%), representing EBIT of 1.99 m EUR (2010: 0.9 m EUR/131 %). Earnings per share amounted to 0.17 EUR (2010: 0.08 EUR/113%).

Breakdown of Earnings

In the PLM segment, we achieved a sales total of 35.7 m EUR (2010: 30.6 m EUR/17%). The EIM segment posted sales of 14.6 m EUR after 10.7 m EUR in 2010 (36%). Sales of third-party software attained 18.6 m EUR (2010: 12.5 m EUR/48%), while sales of CENIT's proprietary software grew from 3.8 m EUR to 5.7 m EUR ( 53%). Turnover from services and consulting totaled 25.9 m EUR (2010: 24.6 m EUR/5%). Other sales amounted to 0.1 m EUR (2010: 0.5 m EUR /-76%).

Orders Development

Incoming orders Group-wide totaled 56.6 m EUR (2010: 42.4 m EUR/33%). On 30 June 2011, orders in hand amounted to 35.4 m EUR (2010: 25.4 m EUR/40%).

Asset and Financial Status

The asset and financial situation remains comfortable. On the balance-sheet date, equity capital amounted to approx. 29.3 m. EUR (31 Dec. 2010: 29 m EUR), accounting for an equity ratio of 54% (31 Dec. 2010: 58%). On the balance-sheet date, bank deposits and securities totaled 19.7 m EUR (31 Dec. 2010: 13.3 m EUR). The enterprise is debt-free.

Employees
On 30 June 2011, 652 staff members were employed Group-wide (30 June 2010: 618).

Participations/Subsidiaries

CENIT (SWITZERLAND) AG, Frauenfeld/Switzerland

During the second Quarter of 2011, CENIT (Switzerland) AG merged with Transcat PLM AG (Switzerland). As a consequence, the company headquarters will relocate to Effretikon during the coming weeks. Currently, CENIT (Switzerland) AG employs 22 staff. The subsidiary achieved sales proceeds of 4.5 m EUR (2010: 1.4 m EUR), accounting for EBIT of 0.5 m EUR (2010: 0.04 m EUR).

CENIT NORTH AMERICA Inc., Auburn Hills/USA

With sales totaling 4.8 m EUR (2010: 2.5 m EUR), CENIT North America Inc. posted EBIT of 0.7 m EUR (2010: -0.1 m EUR). The high growth rate is attributable to a large one-off project.

CENIT SRL, Iasi/Romania

CENIT SRL achieved sales of 0.5 m EUR (2010: 0.2 m EUR) and EBIT of 0.02 m EUR (2010: -0.01 m EUR).

CENIT France SARL, Toulouse/France

CENIT France SARL posted sales of 0.3 m EUR (2010: 0.3 m EUR), representing EBIT of 0.05 m EUR (2010: 0.01 m EUR).

Outlook

For the second half of the year, we again expect to achieve strong software business, as is traditionally the case during the last months of the year. Assuming continued stability of the economic environment, our current assessment allows us to raise our annual sales and earnings growth forecast for the 2011 business year from 10% to 15%, against 2010.

The full Second Quarter Report is available at our website under www.cenit.de/quartalsbericht .

About CENIT :
The enterprise has been active since 1988 as a specialist for product lifecycle management, enterprise information management solutions and application management services. CENIT is listed on the Prime Standard of Deutsche Börse and currently employs about 700 staff. CENIT serves customers such as Allianz, W&W, Daimler, EADS Airbus, VR kreditwerk, BWB and Kuka. Many of the customers are medium-sized enterprises, particularly from the automotive and mechanical engineering industries, e.g. Jungheinrich, Flow, Viessmann or Georg Fischer. http://www.cenit.de

Please send queries to:

CENIT AG
Investor Relations
Industriestrasse 52-54
D-70565 Stuttgart
Tel.:+497117825-3320
Fax:+49711782544-4320
Email: aktie@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 Annual Report of CENIT AG.

End of Media Release

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Language:	English
Company:	CENIT AG
	Industriestraße 52 – 54
	70565 Stuttgart
	Germany
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 Berlin, Düsseldorf, Hamburg, München

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