Industry Summary Articles

CENIT AG successfully closes the 2017 business year. The software company achieved EBIT growth of approx. 8 percent. Group sales rose by around 23 percent. Sales of third-party software increased significantly by more than 40 percent compared to the previous year. This is due in particular to the acquisition of the KEONYS Group. Based on the annual financial statement of CENIT Aktiengesellschaft, Stuttgart, the Management and Supervisory Board will propose to the Annual Meeting of Shareholders on May 18, 2018 that a dividend of EUR 1.00 per share be distributed.

During the 2017 business year, CENIT Group achieved total sales revenues of EUR 151,701 k (2016: EUR 123,774 TEUR/22.6%). Sales of CENIT’s proprietary software remained almost unchanged at EUR 17,559 k, compared to EUR 17,572 k in the previous year. Sales revenues from CENIT Consulting and Services totaled EUR 51,618 k and thus rose by 6.6% on-year (2016: EUR 48,420 k). Due to the acquisition of the KEONYS Group, sales of third-party software increased by 43.0% to EUR 82,362 k (2016: EUR 57.588 k).

CENIT achieved EBITDA in the amount of EUR 15,269 k (2016: EUR 14,064 k/8.6%) and EBIT of EUR 12,836 k (2016: EUR 11,849 k/8.3%). Earnings per share were EUR 1.07 EUR (2016: EUR 0.97/+11.5%).

Order Intake
During the 2017 business year, orders received by CENIT Group totaled EUR 161,955 k (2016: 124,815 EUR k). Orders in hand on December 31, 2017 amounted to EUR 45,477 k (2016: EUR 35.223 k).

Asset and Financial Situation
On the balance-sheet date, the company’s equity capital was EUR 40,855 TEUR (2016: EUR 40,578 k), representing an equity ratio of 46.8% (2016: 56.2%). On the balance-sheet date, bank deposits and liquid assets totaled EUR 23.692 k (2016: EUR 33.606 k). On the other hand, there are current financial liabilities in amount of EUR 3,152 k (2016: EUR 0 k). Operative cash flow amounted to EUR 3,917 k (2016: EUR 9,055 k). In 2017, cash flow was influenced by a dividend payment to shareholders in the total amount of EUR 8,368 k and investments in the amount of EUR 7,744 k.

Employees
On December 31, 2017 CENIT Group employed 764 staff worldwide (2016: 615). Consolidated personnel expenditures during the reporting period were EUR 53,060 k (2016: EUR 48,880 k). CENIT currently provides training for 42 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.

Dividend
The Management and Supervisory Boards will propose to the General Meeting of Shareholders on May 18, 2018 that a dividend of EUR 1.00 per share, be distributed from CENIT AG’s unappropriated profit in the amount of EUR 8,393 k.

Outlook
An equity ratio of almost 50% places CENIT on very secure footing. This lets CENIT act as a strong and reliable partner to its customers.

For the 2018 business year, CENIT Group anticipates sales growth of 25% with EBIT remaining unchanged.
The complete 2017 Annual Report is available in German and English on the CENIT homepage.

To view the original press release, please click here.

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