In the third quarter of 2024 CENIT continues its strong performance seen in the first half-year of 2024 and remains on its growth path. After nine months, CENIT Group has generated sales revenues of EUR 151,433 k (previous year: EUR 133,305 k/+13.6%). Sales of third-party software increased by 12.0% to EUR 75,700 k (previous year: EUR 67,607 k). Sales of CENIT's own software increased significantly from EUR11,605 k to EUR 13,633 k (+17.5%). Sales revenues in the CENIT consulting and services segment increased by 15.3% to EUR 61,983 k (previous year: EUR 53,757 k).
Gross profit (operating performance less cost of materials) amounted to EUR 88,838 k (previous year: EUR 78,970 k) and thus increased by 12.5%. CENIT achieved EBITDA of EUR 10,413 k (previous year: EUR 9,471 k/9.9%) and EBIT of EUR 3,966 k (previous year: EUR 4,599 k/-13.8%). The adjusted EBITDA totaled EUR 11.11 million (previous year: EUR 8.82 million/+26.0%) and the adjusted EBIT was EUR 4.67 million (previous year: EUR 3.95 million/+18.2%). Earnings per share amounted to Cent 11.1 (previous year: Cent 28.6).
Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 49,770 k (Dec. 31, 2023: EUR 45,003 k). The equity ratio amounted to 32.4% (Dec. 31, 2023: 29.3%). Bank balances, cash and cash equivalents amounted to EUR 12,180 k as of the balance sheet date (Dec. 31, 2023: EUR 24,341 k). Operating cash flow totaled EUR 9,905 k (previous year: EUR 8,500 k), mainly due to the change in working capital.
Employees
As of September 30, 2024, the number of employees in the Group was 1,002 (Dec. 31, 2023: 893). Personnel expenses amounted to EUR 64,252 k in the CENIT Group in the reporting period (previous year: EUR 58,198 k).
Outlook
For the current year, our changed outlook for the CENIT Group is to reach a revenue of around EUR 205,000 - 210,000 k and earnings (EBIT) of around EUR 8,000 - 8,500 k. The company has launched an inside information for the adjustment of the guidance on October 31, 2024.
