DGAP-News: CENIT posts on-year sales growth of 15.7% and EBIT growth of 57.9%
(firmenpresse) - DGAP-News: CENIT AG / Key word(s): Final Results
CENIT posts on-year sales growth of 15.7% and EBIT growth of 57.9%
16.04.2012 / 10:00
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Increases primarily due to sales of third-party and proprietary software
Stuttgart, 16 April 2012 - CENIT AG ended the 2011 business year with
significant on-year growth. Positive economic parameters in Germany have
led to an increased readiness of customers to invest in IT projects.
On-year results increases were achieved in terms of both sales and EBIT.
Based on the annual financial statement of CENIT Aktiengesellschaft,
Stuttgart, the Managing and Supervisory Boards will recommend to the Annual
Meeting of Shareholders on 6 June that a dividend of 0.30 EUR per share be
disbursed.
During the 2011 business year, CENIT Group achieved sales revenues of
107,840 kEUR (2010: 93,174 kEUR/+15.7%). Sales proceeds from CENIT's
consulting and services were up 7.7% (2011: 54,540 kEUR / 2010: 50,625
kEUR). Sales of non-proprietary software increased significantly by 29.6%
to 41,358 kEUR (2010: 31,915 kEUR), a main focus being the expansion of
business in PLM software products. Sales of CENIT's proprietary software
grew from 9,901 kEUR to 11,676 kEUR (+17.9%), largely on the strength of
successful end-customer sales of the software products FASTSUITE and
cenitCONNECT in the PLM sphere, as well as IBM FileNet System Monitor and
ECLISO in the EIM field.
Gross profits totaled 69,470 kEUR (2010: 61,152 kEUR/+13.6%). CENIT
achieved EBITDA of 8,736 kEUR (2010: 5,741 kEUR/+52.2%) and EBIT of 6,262
kEUR (2010: 3,965 kEUR/ +57.9%). Earnings per share were 0.52 EUR (2010:
0.36 EUR/+44.4%).
Participations/Subsidiaries
CENIT (Switzerland) AG, Effretikon/Switzerland
During the 2nd Quarter of 2011, CENIT (Switzerland) AG acquired Transcat
PLM AG, Switzerland. The enterprise merged fully with CENIT (Switzerland)
AG a few weeks later. During the past business year, the subsidiary
achieved sales revenues of 9,991 kEUR (2010: 3,789 kEUR), accounting for
EBIT of 883 kEUR (2010: 448 kEUR). The focus of business activities in
Switzerland is largely on PLM solutions by Dassault Systèmes and EIM
solutions by IBM. Working from offices in Effretikon and Yverdon-les-Bains,
a total of 19 staff members serve customers primarily from the
manufacturing and financial services industries.
CENIT North America Inc., Auburn Hills/MI, USA
CENIT North America Inc. attained sales of 10,094 kEUR (2010: 6,739 kEUR)
and EBIT of 1,612 kEUR (2010: 233 kEUR). The high rate of growth can be
attributed to a major one-off project as well as a positive overall orders
situation. In the US, CENIT focuses on marketing its software products for
the PLM field. These efforts primarily address clients from the aerospace
and manufacturing industries. 29 staff members are active in the service
and sales segments.
CENIT SRL, Iasi/Romania
CENIT SRL reported total sales of 1,138 kEUR (2010: 549 kEUR), resulting in
EBIT of 84 kEUR (2010: 31 kEUR). 24 staff members are active primarily in
service provision and software development. The marketing of PLM-related
software by CENIT's strategic partner Dassault Systèmes is a further point
of emphasis in Romania.
CENIT France SARL, Toulouse/France
CENIT France SARL posted sales of 594 kEUR (2010: 674 kEUR) and EBIT of 31
kEUR (2010: 69 kEUR). 3 staff members primarily serve our customer EADS
Airbus in Toulouse.
CENIT Japan K. K., Tokyo/Japan
The subsidiary CENIT Japan K. K., newly established in 2011, achieved sales
of 50 kEUR and EBIT of -178 kEUR. Via local partners, CENIT has already
been successfully marketing its software and consulting products in Japan
for a number of years. CENIT now wishes to underline the importance of this
market, particularly in the field of offline programming of robots and
manufacturing machinery, by establishing an own presence on the ground,
currently with 3 staff members.
Incoming Orders
During the past business year 2011, Group-wide incoming orders amounted to
122,900 kEUR (2010: 103,393 kEUR). On 31 December 2011, orders in hand
totaled 48,177 kEUR (2010: 38,249 kEUR).
Asset and Financial Status
There are no liabilities in relation to banks or lending institutions -
neither short-term nor long-term. On the balance-sheet date, equity capital
totaled 32,206 kEUR (2010: 29,037 kEUR), at an equity ratio of 57.1% (2010:
58.4%). On the balance-sheet date, bank deposits and liquid assets totaled
18,135 kEUR (2010: 13,306 kEUR). The operative cash flow reached 8,266 kEUR
(2010: 1,973 kEUR). In 2011, the operative cash flow was influenced by the
payment of a shareholder dividend in the total amount of 1,255 kEUR, by
investments in tangible assets in the amount of 1,842 kEUR, and by
investments in long-term financial assets in the amount of 2,000 kEUR.
Employees
On 31 December 2011, the total number of staff employed Group-wide was 657
(2010: 634). Personnel costs during the reporting period totaled 45,457
kEUR across CENIT Group (2010: 40,742 kEUR). CENIT is currently training 31
young professionals in a variety of vocations. The trainees include
students from the Dual University of Baden-Württemberg (DHBW) and
vocational students in the field of information technology. A further focal
point of human resources work in 2011 was attracting highly qualified staff
members to CENIT in Germany and world-wide.
Outlook
While the current overall economic situation in Germany is positive,
developments in the international environment - particularly within the
Euro zone - are difficult to forecast. CENIT AG thus intends to adhere to
its sustainability-oriented enterprise strategy. Where the situation
permits, however, we shall also invest in inorganic growth.
The objective of the enterprise is to grow profitably in all segments. The
prerequisites for achieving this goal are given. Following a solid year
2011, the enterprise expects renewed growth in 2012. From today's
perspective, CENIT assumes that Group-wide sales growth of 4 to 5% and
results growth (EBIT) of approximately 10% can be achieved during the 2012
business year. The individual segments will perform in proportion to the
overall development. For the next-following business year 2013, we expect
growth rates in a similar order of magnitude, though we wish to emphasize
that the forecast growth levels are strongly dependent on further economic
developments in Germany and in the target markets world-wide, as well as on
the readiness of the enterprise's customers to undertake IT investments.
The complete 2011 Business Report is available in German and English on
CENIT's homepage: www.cenit.de/geschaeftsbericht
About CENIT:
The enterprise has been active as a specialist for product lifecycle
management, enterprise information management solutions, business
optimization and analytics, and application management services since 1988.
CENIT is listed on the Prime Standard of Deutsche Börse and currently
employs about 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 and mechanical engineering sectors, 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(at)cenit.de
Additional Information:
This 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.
End of Corporate News
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16.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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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(at)cenit.de
Internet: www.cenit.de
ISIN: DE0005407100
WKN: 540710
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service
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