CENIT AG Systemhaus / Final Results/Dividend
31.03.2010 08:29
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.
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CENIT to pay dividend following stable business development in 2009
Proposed dividend of 0.30 EUR per share
Stuttgart, 31 March 2010 - At the annual shareholders' meeting on 28 May
2010, the Managing and Supervisory Boards of CENIT will propose payment of
a dividend of 0.30 EUR per share. Over the course of the 2009 business
year, CENIT has demonstrated that the enterprise can attain solid results
even in the face of increasingly difficult and insecure economic framework
conditions.
During the 2009 business year, CENIT Group achieved total sales of 86.5 m
EUR (2008: 83.4 m EUR/+4%). Sales of non-proprietary software rose
appreciably by approx. 33% to 24.62 m EUR (2008: 18.49), largely as a
result of the Value-Added Reseller business of our partner Dassault
Systèmes. Sales of CENIT's proprietary software rose from 9.25 m EUR to
9.71 m EUR (5%). Turnover from services and consulting totaled 51.26 m EUR
(2008: 52.60 m EUR/-3%). Other sales amounted to 0.9 m EUR (2008: 3.03 m
EUR).
The gross profit totaled 59.4 m EUR (2008: 61.1 m EUR/-3%). CENIT attained
EBITDA of 5.29 m EUR (2008: 6.19 m EUR/-14%) and EBIT of 3.89 m EUR (2008:
4.78 m EUR/-18%). Results per share were 0.33 EUR (2008: 0.40 EUR/-15%).
Participations/Foreign Holdings
CENIT (SWITZERLAND) AG, Frauenfeld/Switzerland
During the past business year, CENIT (Switzerland) achieved sales revenues
of 3.3 m EUR (2008: 4.9 m EUR), accounting for EBIT of 0.76 m EUR (2008:
2.4 m EUR). In Switzerland, our focus lies on PLM solutions by Dassault
Systèmes and EIM solutions by IBM. 5 staff members work with customers
primarily from the manufacturing industry and the financial services
sector.
CENIT NORTH AMERICA Inc., Auburn Hills/USA
CENIT North America Inc. attained sales of 6.2 m EUR (2008: 6.1 m EUR) and
EBIT of -0,2 m EUR (2008: -0.1 m EUR). In the USA, CENIT focuses on
marketing our products in the field of SAP PLM and PLM. These efforts
primarily address customers from the aerospace and manufacturing
industries. 25 staff members are active in the service and sales segments.
CENIT SRL, Iasi/Romania
CENIT SRL accomplished total sales of 0.5 m EUR (2008: 0.7 m EUR),
accounting for EBIT of 0.1 m EUR (2008: 0.2 m EUR). 21 staff members are
active in service provision and software development.
CENIT France SARL, Toulouse/France
The association remains in the formative phase and primarily works with our
customer EADS Airbus in Toulouse. CENIT France SARL achieved sales of 0.47
m EUR (2008: 0.3 m EUR) and EBIT of 0.06 m EUR (2008: 0.02 m EUR). 4 staff
members assist EADS in project consulting and tendering procedures.
Incoming Orders
During the previous business year 2009, Group-wide incoming orders totaled
84.0 m EUR (2008: 105 m EUR). On 31 December 2009, orders in hand amounted
to 27.7 m EUR (2008: 30.2 m EUR). There was a decrease in incoming orders
from the manufacturing industry, particularly from the automotive industry.
On the other hand, CENIT managed to attract important new customers from
the financial services sector. However, a trend is not yet discernible.
Asset and Financial Status
There are no liabilities in relation to banks and lending institutions -
neither short-term not long-term. On the balance-sheet date, equity capital
totaled 28.1 m EUR (2008: 25.4 m EUR). The equity ratio equals 64%(2008:
64%). On the balance-sheet date, bank deposits and securities totaled 19.5
m EUR (2008: 13.2 m EUR). The financial independence we derive from this
situation permits us to manage our internal financing as appropriate to the
course of business. In view of the restrictive lending practices of the
credit institutions, this constitutes a competitive edge for CENIT and
offers our customers the necessary investment security. The operative cash
flow attained 9.3 m EUR (2008: 2.5 m EUR).
Employees
On 31 December 2009, the total number of staff Group-wide was 695 (2008:
721). Personnel costs during the reporting period totaled 40.6 m EUR
(2008:38.8 m EUR/6%).
2009 was characterized by a reduced workload, with annual average capacity
utilization in the services sector at 70%. A major cause for this
development was short-time work in CENIT's auto industry customer segment,
which affected more than 100 staff at CENIT. An additional obstacle to a
growing product business was the investment reluctance of many customers
from the manufacturing industry.
Outlook
The developments on the financial market and the global economic crisis
have had a very serious impact on CENIT's main sales markets, i.e.
financial service providers and manufacturing enterprises. For this reason
the Group is devoting maximum effort to reducing market dependence. At the
same time, we are further expanding our range of software solutions and
continuing to tune our portfolio to market demands. This also means
maintaining and promoting the high, comprehensive service and consulting
competence of CENIT's staff in all addressed sectors and regions.
For the 2010 business year, we expect positive developments that build on
the results achieved in 2009. Nevertheless, short-time work may again be
required in 2010 so that we can adjust to our customer demand situation and
retain our permanent staff pool. We expect that the global economy will
emerge from the recession in 2011 at the latest, and that moderate growth
will then resume. In summary: Provided that our business is not adversely
affected by a prolonged economic slump, we intend to return to our
long-term growth plan in 2010/2011.
Basic preconditions for our projections for the coming two years and thus
the expected rise in CENIT's earning power are stable overall political
framework conditions and the assumption that the global crisis did indeed
reach its low point in 2009. With solid capacity utilization in our
services segment and a clear increase in our software business, we will be
able to realize this growth in revenue.
Additional opportunities and risks may arise from developments in the
automotive and aerospace industries as well as the financial services
sector. A major contribution to positive development will have to be the
correctness of our assumptions as to the market success of our software
products. In addition, we also intend to seize the opportunities arising
from our first public-sector customer projects. Here our software products
can play a pioneering role in innovative technologies and processes for a
sustainable and effective public administration.
The following factors should contribute to our sales and results
objectives: We will continue our activities in the USA and in Europe. We
want to profit from growth in the relevant market segments and attract new
customers. The PLM business segment will concentrate increasingly on
Dassault Systèmes and position itself as a strategic PLM consulting and
software enterprise. This provides us with all the necessary prerequisites
for becoming, in accordance with medium-term planning, the market leader
for PLM projects. The enterprise information management (EIM) segment
offers us opportunities in the field of administration and the public
sector. In this area, we will also be able to draw on our cooperation with
our partner IBM to seize important opportunities and achieve growth.
The complete 2009 Business Report is available in German and English at
CENIT's homepage: www.cenit.de
About CENIT:
The enterprise has been active as a specialist for product lifecycle
management, enterprise content management solutions and application
management outsourcing 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 Systemhaus,
Fabian Rau
IndustriestraÃe 52-54, D-70565 Stuttgart
Tel.:+49 711 7825-3185
Fax:+49 711 782544-4185
Email: f.rau@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
31.03.2010 08:29 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: CENIT AG Systemhaus
IndustriestraÃe 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, Düsseldorf, Hamburg
End of News DGAP News-Service
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DGAP-Adhoc: CENIT AG Systemhaus: CENIT to pay dividend following stable business development in 2009
| Source: EQS Group AG