CENIT affected by Investment Backlog
Expected Revenue in 2008 at 75 m. € with 4 to 4.5 m. € EBIT
6 Months Figures at a Glance
After 6 months, Group-wide sales contracted by 10% to 34.28 m. € (06/2007: 38.05 m. €). The gross profit decreased by 4% to 28.25 m. € (06/2007: 29.49 m. €). EBITDA attained 1,43 m. € (06/2007: 5.21 m. € / -73%). EBIT for the reporting period were at 0.87 m. € (06/2007: 4,68 m. € / -81%). The pre-tax result EBT reached 1.12 m. € (06/2007: 4.95 m. € / -77%). The net profit was 1.00 m. € (06/2007: 3.11 m. € / -68%). Group EPS (earnings per share) thus reached 0.12 € per share (06/2007: 0.36 € / -68%). The operative cashflow attained 1.47 m. € (06/2007: 6.26 m. € / -77%). On balance-sheet date, the total of bank deposits and securities including current assets amounted to 10.03 m. € (31.12.2007: 18.3 m. €) - after the deduction of the dividend distribution of 4.2 m. € and the acquisition of cad scheffler GmbH that totaled 2.43 m. €. The company is still clear of bank liabilities. Incoming orders increased by 14% to 52.3 m. € (06/2007: 46 m. €).
Holdings - Subsidiaries
CENIT (Switzerland) AG achieved sales of 1.9 m. € (06/2007: 1,6 m. €), with EBIT at 1.00 m. € (06/2007: 0,8 m. €).
CENIT North America Inc. was able to achieve sales of 2.7 m. € (06/2007: 2,6 m. €), attaining EBIT of 0.1 m. € (06/2007: 0,4 m. €).
CENIT SRL attained sales amounting to 0.4 m. € and EBIT of 0.16 m. €.
CENIT France achieved sales of 0.13 m. € and EBIT of 0.02 m. €.
cad scheffler, the company integrated into CENIT Group in January 2008 has achieved sales of 1.29 m. € and EBIT of 0.24 m. €.
Breakdown of Earnings
The sales volume in the service sector showed a rise by 5% to a current 23.24 m. € (06/2007: 22.16 m. €), making it the strongest contributor to sales with a share of 68%. Sales of CENIT software amounted to 4.51 m. € (06/2007: 5.96 m. € / -24 %) during the first 6 months of the current business year. This means, approx. 13% of total sales can be attributed to CENIT's own software. Sales of third party software increased by 16% to 4.66 m. € (06/2007: 4.03 m. €), thus amounting for 14% of total sales. Hardware business decreased by 68% to 1.88 m. € (06/2007: 5.90 m. €), equaling approx. 5% of CENIT's total sales.
The result of operations was lower than expected due to low software sales especially in the PLM sector. However, on medium-term, we expect a reversal of the investment backlog and thus an improvement in the result and sales. Incoming orders of the Group increased by 14% and will thus have a positive influence on the future development. At the beginning of the third quarter 2008, the software sector showed increased activities. As an example, our EIM sector could achieve a turnover of approx. 0.4 m. € through one individual order. Our customers show the tendency towards bigger and long-term service orders; therefore, our services sector should rise disproportionately. Our top priority is and will be for the next years set on the expansion of sales of CENIT software. Furthermore, we are looking into filling the vacant 70 job positions.
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.
Since 1988, the company has been active as a specialist for Product Lifecycle Management, Enterprise Information Management and Application Management Outsourcing. CENIT is listed on the Prime Standard of Deutsche Börse and currently employs more than 680 staff. Among others, CENIT serves clients such as Allianz, BMW, Daimler, EADS Airbus, LBS, Metro and VW. A large portion of customers are medium-sized businesses, particularly from the automotive sector and mechanical engineering, e.g. Dürr, Georg Fischer or Leoni. http://www.cenit.de