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CENIT with a strong half-year result: Group revenues increase by 6.2% compared to previous year to EUR 73,912 k, EBIT increases by 19.5%

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DGAP-News: CENIT AG / Key word(s): Half Year Results/Half Year Report
CENIT with a strong half-year result: Group revenues increase by 6.2% compared to previous year to EUR 73,912 k, EBIT increases by 19.5%
02.08.2022 / 07:38
The issuer is solely responsible for the content of this announcement.

Stuttgart, August 2, 2022 - Continued strong consulting and service business (vs previous year: +18.9%) as well as increased license sales in Q2 determine the sales growth (vs previous year: + EUR 4,280 k/+6.2%) in the first half of 2022. The consulting and service business, which was already growing strongly in the first quarter (vs previous year: +13.9%) continued to do so extremely in the second quarter (vs previous year: +23.5%) and was also boosted by a significant increase in the sale of third-party software licenses (vs previous year: +33.4%) and a general increase in proprietary software business (vs previous year: +6.0%).

After six months, CENIT Group has generated sales revenues of EUR 73,912 k (previous year: EUR 69,632 k/+6.2%). Sales revenues in the CENIT consulting and services segment decreased by 18.9% to EUR 22,231 k (previous year: EUR 18,698 k). Sales of third-party software increased by 0.9% to EUR 43,654 k (previous year: EUR 43,257 k). Sales of CENIT's own software also increased from EUR 7,665 k to EUR 7,985 k (+4.2%). Due to the long-running proceedings regarding antitrust issues, the recently acquired ISR is included for only one month in the first half of the year.

Gross profit (operating performance less cost of materials) amounted to EUR 40,124 k (previous year: EUR 37,331 k) and thus increased by 7.5%. CENIT achieved EBITDA of EUR 3,378 k (previous year: EUR 3,520 k/-4.0%) and EBIT of EUR 1,119 k (previous year: EUR 936 k/+19.5%). Earnings per share amounted to Cent 4.6 (previous year: Cent 4.8). This result could be realized despite the fact that approx. EUR 1.3 million in (expense-reducing) short-time allowances were no longer paid in H1-2021, which illustrates the strength of CENIT's business model.

Compared to the second quarter of 2021, consolidated sales in the second quarter of 2022 increased by 8.7% to EUR 38,514 k (previous year: EUR 35,419 k), but EBITDA decreased by -1.3% to EUR 2,654 k (previous year: EUR 2,688 k) due to increased costs and EBIT amounted to EUR 1,507 k after EUR 1,460 k in the previous year (+3.3%).

Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 37,576 k (Dec. 31, 2021: EUR 43,645 k). The equity ratio amounted to 31.9% (Dec. 31, 2021: 47.0%). Bank balances and cash and cash equivalents amounted to EUR 22,888 k as of the balance sheet date (Dec. 31, 2021: EUR 26,361 k). The operating cash flow reached EUR 9,280 k (previous year: EUR 9,714 k).

Employees
As of June 30, 2022, the number of employees in the Group was 858 (previous year: 695). Personnel expenses amounted to EUR 31,163 k in the CENIT Group in the reporting period (previous year: EUR 29,767 k).

Outlook
We confirm our updated forecast for the CENIT Group for the current fiscal year 2022, according to which we expect consolidated sales of around EUR 170.0 million and consolidated earnings (EBIT) of around EUR 9.0 million despite the delayed consolidation of ISR. 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 2022, particularly with regard to the growing inflation and economic risks in the context of the war in Ukraine and the continuing effects of the COVID 19 pandemic.

Please visit CENIT’s homepage for the entire half-year financial report 2022: www.cenit.com/reports.

 

About CENIT:
ENIT empowers sustainable digitalization. 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:

CENIT AG
Tanja Marinovic
Investor Relations
Industriestrasse 52-54, D-70565 Stuttgart
Tel.:+49 711 7825-3320
Fax:+49 711 782544-4320
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 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.


02.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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.com

ISIN:

DE0005407100

WKN:

540710

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1410429


 

End of News

DGAP News Service

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