During the 2019 business year, CENIT group generated sales revenues of EUR k 171,711 (prior year: EUR k 169,990/1.0%). Sales of CENIT’s proprietary software increased by 5.9% at EUR k 16,355 compared to EUR k 15,449. Sales revenues in CENITs consulting and services segment totaled EUR k 49,486 and thus declined by -0.6% on-year (2018: EUR k 49,776). Sales of third-party software increased by around 1.3% to EUR k 105,628 (2018: EUR k 104,299).
The gross profit (operating output less cost of materials) amounted to EUR k 86,797 (2018: EUR k 87,632), representing a decrease of -1.0%.
CENIT achieved EBITDA in amount of EUR k 15,238 (2018: EUR k 11,948/27.5%) and EBIT of EUR k 9,195 (2018: EUR k 9,028/1.8%). Earnings per share were EUR 0.82 EUR (2018: 0.71 EUR).
Orders Development
During the 2019 business year, orders received by CENIT Group totaled EUR k 165,545 (2018: EUR k 177,902). Orders in hand on December 31, 2019 amounted to EUR k 47,223 (2018: EUR k 53,389).
Asset and Financial Situation
On the balance-sheet date, the company’s equity capital was EUR k 40,940 (2018: EUR k 39,102), representing an equity ratio of 45.8% (2018: 49.4%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 18,461 (2018: EUR k 18,041). The operative cash flow was EUR k 11,682 (2018: EUR k 9,617). In 2019, cash flow was influenced by a dividend payment to shareholders in the total amount of EUR k 5,021, returns of leasing liabilities in amount of EUR k 3,357 and investments in the amount of EUR k 2,759.
Employees
On December 31st, 2019, CENIT group employed 737 (2018: 757). Consolidated personnel expenditures during the reporting period were EUR k 60,300 (2018: EUR k 58,571). CENIT currently provides training for 54 young professionals in a variety of occupations. Trainees include informatics and economics students from the Dual University of Baden-Württemberg (DHBW) and vocational trainees in the field of information technology.
Outlook
An equity ratio of around 46% places CENIT on very secure footing. This lets CENIT act as a strong and reliable partner to its customers.
The forecast for the 2020 business year is based on sales at the previous year's level of around EUR 170,000 k and EBIT of EUR 9,000 k. Any possible effects caused by the Coronavirus were not taken into account, since we are unable to estimate them at this early stage.
The complete 2019 Annual Report is available in a German and English version on the CENIT homepage: www.cenit.com/reports.
