CENIT AG Systemhaus / Half Year Results
07.08.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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CENIT affected by Investment Backlog
Expected Revenue in 2008 at 75 m. with 4 to 4.5 m. EBIT
Stuttgart, August 7, 2008 With this publication of the 6 Months Figures,
we expect a turnover of 75 m. for 2008 (2007: 77 m. ). We also expect an
EBIT of 4 to 4.5 m. (2007: 8.4 m. ). Due to the general cautious global
economic cyclical trend our customer segment shows a strong investment
decline. Thus, our customers did not finalize important expected software
and service orders yet. Nevertheless, we could increase our incoming orders
by 14% to approx. 52.3 m. (06/2007: 46 m.). The biggest order in CENITs
history was signed in May and thus the start date for the service order was
set on July 2008. This start was successfully implemented. At the same
time, the necessary international recruiting of new staff is going along as
expected which leads to increased expenses for newly-hired qualified
specialists. The number of employees Group-wide increased by 19% from 578
to 687. Thus, personnel expenditures increased by 1.4 m. compared to the
previous year. We also decided upon seizing our hardware business
activities earlier then expected. CENITs declining hardware sector was
fully restructured and outsourced to an experienced hardware distributor
that will now offer these services to CENITs existing customers. On
another note, our international subsidiaries show continuously positive
development. And the newly acquired cad scheffler GmbH is well integrated
after only 6 months as part of the Group and now contributes positively to
the Groups turnover and result.
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
CENITs 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 CENITs total sales.
Outlook
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.
Send queries to:
CENIT AG Systemhaus
ISIN:DE0005407100
Fabian Rau
Vice President Investor Relations & Marketing
Industriestraße 52-54,
D-70565 Stuttgart
Tel.: +49 711 7825-3185
Fax: +49 711 782544-4185
E-Mail: f.rau@cenit.de
About CENIT: 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
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.
DGAP 07.08.2008
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Language: English
Issuer: CENIT AG Systemhaus
Industriestraße 52 - 54
70565 Stuttgart
Deutschland
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, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: CENIT AG Systemhaus: CENIT affected by Investment Backlog
| Source: EQS Group AG