CENIT continues to grow: Group revenues in Q1/2023 increase by around 22.7% compared to previous year to EUR 43,416 K EUR

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EQS-News: CENIT AG / Key word(s): Quarter Results
CENIT continues to grow: Group revenues in Q1/2023 increase by around 22.7% compared to previous year to EUR 43,416 K EUR
11.05.2023 / 08:07 CET/CEST
The issuer is solely responsible for the content of this announcement.

Stuttgart, May 11, 2023 - Continued strong consulting and service business (vs. prev. yr.: +72.8%) as well as increased recurring sales (vs. prev. yr.: +4.5%) determine the revenues growth (vs. prev. yr. +8,018/+22.7%) in the first three months of 2023. CENIT Group is continuing its positive trend from the prior quarters of 2022. Among other things, the consulting and service business, which grew by EUR 7,474 k (+72.8%) compared to the prior-year quarter, contributed significantly to this, due to acquisitions combined with organic strong demand.

After three months, CENIT Group has generated sales revenues of EUR 43,416 k (previous year:
EUR 35,398 k/+22.7%). Sales revenues in the CENIT consulting and services segment increased by 72.8% to EUR 17,746 k (previous year: EUR 10,272 k). Sales of third-party software increased by 3.8% to EUR 22,278 k (prior year: EUR 21,473 k). Sales of CENIT's own software decreased primarily due to postponed customer orders in the areas of DFS and EIM from EUR 3,628 k to EUR 3,351 k (-7.6%).

Gross profit (operating performance less cost of materials) amounted to EUR 25,673 k (previous year: EUR 18,619 k) and thus increased by 37.9%. CENIT achieved EBITDA of EUR 1,572 k (previous year: EUR 726 k/+>100.0%) and EBIT of EUR 6 k (previous year: EUR -387 k/+>100.0%). Earnings per share amounted to Cent -2,4 (previous year: Cent -7,1).

Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 44,658 k (Dec. 31, 2021: EUR 44,783 k). The equity ratio amounted to 32.4% (Dec. 31, 2022: 35.3%). Bank balances and cash and cash equivalents amounted to EUR 24,595 k as of the balance sheet date (Dec. 31, 2022: EUR 19,914 k). The operating cash flow reached EUR 8,694 k (previous year: EUR 11,196 k) due to a project-related increase in receivables.

As of March 31, 2023, the number of employees in the Group was 854 (previous year: 673). Personnel expenses amounted to EUR 20,640 k in the CENIT Group in the reporting period (previous year: EUR 15,649 k).

We confirm our updated forecast for the CENIT Group for the current fiscal year 2023, according to which we expect consolidated sales of around EUR 175.0-180.0 million and consolidated earnings (EBIT) of around EUR 9.0-9.5 million. This forecast is subject to the express proviso that the global economic and industry-specific conditions do not deteriorate significantly in the current fiscal year 2023, particularly regarding the growing inflation and economic risks.

Please visit CENIT’s homepage for the entire quarterly statement as of 31.03.2023: www.cenit.com/reports.


About CENIT:
ENIT is your partner for successful digital transformation. With a broad solutions and services portfolio, CENIT enables clients to optimize their horizontal and vertical business processes. Our solutions are based on innovative technologies in product lifecycle management, the digital factory and enterprise information management. With interdisciplinary knowledge of the processes involved and their considerable expertise in the field, CENIT consultants provide customers with end-to-end advice to ensure that solutions are implemented with an understanding of the entire value chain. With a holistic approach and based on trusted partnerships, CENIT takes responsibility for solutions on behalf of our clients. From the initial consultation to the introduction of innovative IT solutions, right through to ensuring a cost-effective operation. The CENIT team adapts to each client, taking a practical approach, which enables measurable, operational optimizations. CENIT has been helping prestigious customers in key industries to gain competitive advantages for more than 30 years! CENIT has around 900 employees worldwide who work with customers from: automotive, aerospace, industrial equipment, tool and mold manufacturing, financial services, and trade and consumer products industries.


Please send queries to:
Tanja Marinovic
Investor Relations
Industriestrasse 52-54, D-70565 Stuttgart
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 respective 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, or 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.



11.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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