Industry Summary Articles

After six months, CENIT AG was able to significantly increase its total revenues and those of third-party software. However, EBIT declined, mainly due to declining sales figures for the sale of own software.

During the first six months, CENIT group generated sales revenues of EUR k 82,113 (prior year: EUR k 59,279/38.5%). Sales revenues in CENITs consulting and services segment increased by 3.0% to EUR k 24,695 (prior year: EUR k 23,975). Sales of third-party software increased by approx. 84.7% to EUR k 50,504 (prior year: EUR k 27,337). Sales proceeds from CENIT's proprietary software decreased from EUR k 7,800 to EUR k 6,782 (-13.0%).

The gross yield (operating output less cost of materials) amounted to EUR k 42,658 (prior year: EUR k 35,841), representing an increase of 19.0%. CENIT achieved EBITDA of EUR k 4,047 (prior year: EUR k 5,184/-21.9%) and EBIT of EUR k 2,581 (prior year: EUR k 4,187/-38.4%). Results per share were EUR 0.21 (prior year: EUR 0.29).

Orders Development
During the first six months, the group-wide order intake totaled EUR k 90,270 (prior year: EUR k 55,769). On 30th June 2018 orders in hand amounted to EUR k 53,635 (prior year: EUR k 29,805).

Asset and Financial Situation
On the balance-sheet date, equity capital totaled EUR k 34,224 (31 Dec. 2017: EUR k 40.855), accounting for an equity ratio of 41,9% (31 Dec. 2017: 46,8%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 19.926 (31 Dec. 2017: EUR k 23.692). The operative cash flow was EUR k 10,375 (prior year: EUR k 3,388).

Employees
On 30th June 2018, CENIT group employed 748 staff (prior year: 606). Group-wide personnel costs for the reporting period were EUR k 29,720 (prior year: EUR k 23,880).Outlook
For the current year, the CENIT Group expects sales of around EUR 175 to 180 million. Based on the course of business so far, CENIT AG expects EBIT of around EUR 10 million.

Please visit CENIT's homepage for the full 6 Months Report 2018: www.cenit.com/reports.

To view the original press release, please click here.

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