CIMdata PLM Industry Summary Online Archive

9 November 2009

Financial News

CENIT 3rd Quarter Result Confirms Solid Development

CENIT’s results during the third quarter show that we have held our ground in an expectedly difficult business environment. With total sales of 63.4 m €, we have again claimed an increase over the previous year, in the order of 12 percent. For the first time, we were able to achieve significant income from software sales again. As a result, we were able to fulfil our expectations for the 3rd Quarter, a period characterized by short-time work in the auto industry and the summer holidays. We are continuing to follow a consistent enterprise policy aimed at sustainability, and in doing so take a careful approach to the challenges that lie ahead. As for our customers, we can in many instances discern resumed investment decisions for new, innovative products. It remains our foremost task to influence these decisions in our favour.

Overview of 3rd Quarter Figures

Group-wide sales again increased, attaining 63.4 m € (09/2008: 56,6 m €/ 12%) at the end of the 3rd Quarter. The gross surplus amounted 43.5 m € (09/2008: 44.9 m €/ -3%). EBITDA attained 2.8 m € (09/2008: 3.9 m €/ -28%). EBIT during the reporting period amounted to 1.7 m € (09/2008: 2.8 m €/ -39%). The pre-tax result (EBT) was 1.9 m € (09/2008: 3.3 m €/ -41%). The consolidated result was 1.7 m € (09/2008: 2.6 m €/ -32%). Consolidated EPS (earnings per share) thus derive to 0.21 € per share (09/2008: 0.31 €/ -32%).

On 30 September 2009, equity capital totalled approx. 27.1 m € (31 December 2008: 25.4 m €), accounting for an equity ratio of 64% (31 December 2008: 64%). On the balance-sheet date, bank deposits and securities incl. current assets totalled 17.6 m € (31 December 2008: 13.2 m €). The enterprise remains debt-free. The operative cash flow amounted to 2.6 m € (30 September 2008: 4.5 m €). On the balance-sheet date, the number of employees was 705 (09/2008: 726). Orders in hand totalled 21.1 m € (9/2008: 26.2 m €) and incoming orders stood at 56.9 m €. (9/2008: 73.6 m €). In 2008, orders figures were heavily influenced by a single large order; for this reason, they cannot serve as a meaningful basis for comparison.

Breakdown of Earnings

Sales in the services sector grew by 9% to a current 40.2 m € (09/2008: 36.9 m €), making services the strongest contributor to sales with a share of 63%. Sales of CENIT software during the first 9 months of the current business year totalled 5.7 m € (09/2008: 6.3 m € / -9%). Sales of CENIT’s proprietary software thus account for approx. 9% of total sales. Thanks in particular to the VAR model, the non-CENIT software business grew by 57% to 16.9 m € (09/2008: 10.8 m €), accounting for 27% of total sales. Other accrued income totals 0.5 m €.

Holdings - Foreign Subsidiaries

CENIT (Switzerland) AG achieved sales of 2.8 m € (09/2008: 3.7 m €), accounting for EBIT of 0.8 m € (09/2008: 2.1 m €).

With sales of 4.1 m € (09/2008: 4.9 m €), CENIT North America attained negative EBIT of -0.6 m € (09/2008: 0.2 m €).

Achieving sales of 0.4 m € (09/2008: 0.5 m €), CENIT SRL in Romania was able to post EBIT of 0.1 m € (09/2008: 0.1 m €).

The CENIT company in Toulouse, France realized sales of 0.3 m € (09/2008: 0.2 m €) and EBIT of 0.02 m € (09/2008: 0.02 m €).

The 3rd quarter result will be presented today by Fabian Rau on the German Equity Forum in Frankfurt.

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