CIMdata PLM Industry Summary Online Archive
6 November 2008
Financial News
CENIT Sees Increased Sales and Results in 3rd Quarter
During the 3rd Quarter, CENIT achieved a 28% increase in Group-wide sales, from 17.5 to 22.3 m €. Simultaneously, the operative result (EBIT) rose by 6% to 1.9 m €. This strongly reconfirmed the 2008 sales expectations projected in mid-year, namely a total of 75 m € with an operative result (EBIT) between 4 and 4.5 m €.. This permitted us to halt the decline in results seen during the first half of the year. During the reporting period, the number of employees rose by 21% from 602 to 726 Group-wide.
Overview of 3rd Quarter
During the 3rd Quarter, Group-wide sales grew by 28% to 22.3 m € (Q3/2007: 17.5 m €). The gross surplus increased by 18% to 16.6 m € (Q3/2007: 14.1 m €). EBITDA attained 2.5 m € (Q3/2007: 2.1 m € / 19%). EBIT during the reporting period amounted to 1.9 m € (Q3/2007: 1.8 m € / 6%). The pre-tax result (EBT) was 2.1 m € (Q3/2007: 2.1 m € / 0%). The consolidated result attained 1.6 m € (Q3/2007: 1.5 m € / 7%). Consolidated EPS (earnings per share) thus derive to 0.19 € per share (Q3/2007: 0.18 € / 6%).
Overview of 3rd Quarter Figures
After 9 months, Group-wide sales attained 56.6 m € (09/2007: 55.6 m € / 2%). The gross surplus grew by 3% to 44.9 m € (09/2007: 43.6 m €). EBITDA reached 3.9 m € (09/2007: 7.3 m € / -47%). EBIT during the reporting period amounted to 2.8 m € (09/2007: 6.5 m € / -57%). The pre-tax result (EBT) was 3.3 m € (09/2007: 7.0 m € / -53%). The consolidated result was 2.6 m € (09/2007: 4.6 m € / -43%). Consolidated EPS (earnings per share) thus derive to 0.31 € per share (09/2007: 0.55 € / -44%). The operative cash flow was 4.5 m € (09/2007: 7.4 m € / -39%). On the balance-sheet date, the total of bank deposits and securities incl. current assets amounted to 9.3 m € (31.12.2007: 18.3 m €). The equity ratio was 64% (09/2007: 70.8%). The enterprise remains free of bank liabilities. Incoming orders grew by 21%, accounting for a total of approx. 74 m €. (09/2007: 61 m €).
Holdings – Foreign Subsidiaries
CENIT (Switzerland) AG achieved sales of 3.7 m € (09/2007: 2.5 m €), accounting for EBIT of 2.1 m € (09/2007: 1.4 m €).
CENIT North America Inc. accomplished sales of 4.9 m € (09/2007: 3.8 m €) and EBIT of 0.2 m € (09/2007: 0.3 m €).
CENIT SRL achieved sales of 0.5 m € (09/2007: 0.2 m €) and EBIT of 0.1 m € (09/2007: 0,02 m €).
The CENIT company in Toulouse, France generated sales of 0.2 m € and EBIT of 0 m €.
cad schleffler GmbH, incorporated into CENIT Group since January 2008, achieved sales of 2.1 m € and EBIT of 0.4 m €.
Breakdown of Earnings
The sales volume in the services sector grew by 12% to a current 37.1 m € (09/2007: 33.2 m €), making it the strongest contributor to sales with share of 66%. During the first 9 months of the current business year, sales of CENIT software totaled 7.7 m € (09/2007: 8.6 m € / -10%). Thus, approx. 14% of overall sales can be attributed to sales of CENIT’s proprietary software. Sales of non-CENIT software increased by 51% to 9.4 m € (09/2007: 6.2 m €) and thus accounted for 17% of total sales. The hardware business contracted by 68% to 2.4 m € (09/2007: 7.6 m €), equaling approx. 4% of total CENIT sales.
Outlook
For the 2008 business year, CENIT’s management reaffirms its sales expectations of 75 m € as well as its Group-wide EBIT forecast of between 4 and 4.5 m €.
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