DGAP-News: CENIT AG / Key word(s): Half Year Results
CENIT raises 2012 forecast after Q2
10.08.2012 / 08:12
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Good Q2 results thanks to strong PLM segment and growth in sales of
third-party software
Stuttgart, 10 August 2012 - During the first half of 2012, CENIT AG
recorded a significant increase in sales and earnings against the same
period of the previous year. This result was achieved particularly due to
the strength of manufacturing industry demand, occasioning correspondingly
strong figures for the product lifecycle management (PLM) reporting
segment. PLM was able to more than compensate the earnings decline posted
by the enterprise information management (EIM) segment. Sales of CENIT's
proprietary software also contracted slightly. However, sales of
third-party software grew significantly on-year. The trend for the
consulting business remains positive. Based on these positive developments
we have raised our annual forecast for the 2012 business year. The
preconditions for achieving this target are continued stability of the
economic framework and positive developments in the automotive, mechanical
engineering and aerospace industries.
After 6 months, CENIT Group posted sales revenues of 57.8 m EUR (as at
06/2011: 50.3 m EUR/ 15%), accounting for EBITDA of 5.1 m EUR (as at
06/2011: 2.9 m EUR/73%) and EBIT of 3.7 m EUR (as at 06/2011: 2.0 m
EUR/86%). Earnings per share were 0.31 EUR (as at 06/2011: 0.17 EUR/82%).
Breakdown of Earnings
During the first 6 months, CENIT's PLM segment achieved total sales of 43.1
m EUR (as at 06/2011: 35.7 m EUR/21%). The EIM segment posted sales of 14.7
m EUR against 14.6 m EUR in the same period of 2011 (0%). Sales of
non-proprietary software totaled 24.3 m EUR (as at 06/2011: 18.6 m
EUR/31%). Sales of CENIT's proprietary software contracted from 5.7 m EUR
to 5.0 m EUR (-13%). Turnover from services and consulting amounted to 28.2
m EUR (as at 06/2011: 25.9 m EUR/9%). Other sales totaled 0.3 m EUR (as at
06/2011: 0.1 m EUR/132%).
Incoming Orders
During the first 6 months, incoming orders amounted to 59.1 m EUR
Group-wide (as at 06/2011: 56.5 m EUR/5%). On 30 June 2012, orders in hand
totaled 44.0 m EUR (as at 06/2011: 35.4 m EUR/24%).
Asset and Financial Status
The asset and financial situation remains solid. On the balance-sheet date,
30 June 2012, equity capital totaled approx. 32.3 m EUR (31 Dec. 2011: 32.2
m EUR), at an equity ratio of 52% (31 Dec. 2011: 57%). On the balance-sheet
date, 30 June 2012, bank deposits totaled 21.6 m EUR (31 Dec. 2011: 18.1 m
EUR). The enterprise is free of debt.
Employees
On 30 June 2012, the total number of staff employed Group-wide was 658 (30
June 2011: 652).
Participations/Subsidiaries
CENIT (SWITZERLAND) AG, Effretikon/Switzerland
During the first six months of 2012, CENIT (Switzerland) AG achieved sales
revenue of 5.5 m EUR (as at 06/2011: 4.5 m EUR), accounting for EBIT of 0.8
m EUR (as at 06/2011: 0.5 m EUR).
CENIT NORTH AMERICA Inc., Auburn Hills/MI, USA
With total sales of 4.8 m EUR during the first six months of 2012 (as at
06/2011: 4.8 m EUR), CENIT North America Inc. posted EBIT of 0.7 m EUR (as
at 06/2011: 0.7 m EUR).
CENIT SRL, Iasi/Romania
CENIT SRL reported total sales of 0.7 m EUR (as at 06/2011: 0.5 m EUR),
resulting in EBIT of 0.1 m EUR (as at 06/2011: 0.0 m EUR).
CENIT France SARL, Toulouse/France
CENIT France SARL achieved sales of 0.3 m EUR (as at 06/2011: 0.3 m EUR)
and EBIT of 0.1 m EUR (as at 06/2011: 0.1 m EUR).
CENIT Japan K.K., Tokyo/Japan
The Japanese subsidiary CENIT Japan K.K., established in July of 2011,
posted sales of, 0.1 m EUR (as at 06/2011: 0.0 m EUR), accounting for EBIT
of -0.1 m EUR (as at 06/2011: 0.0 m EUR).
Outlook
CENIT is raising its annual forecast and from today's perspective expects
annual sales growth of approx. 7% as well as EBIT between 20% and 25%. The
PLM segment posted excellent growth during the first half of the year on
the strength of two extraordinary customer orders. During the second half
of the year, CENIT expects moderate growth because this reporting segment
is highly dependent on economic developments in the automotive, aerospace
and mechanical engineering industries. These industries in turn depend on
the level of global demand. In the EIM segment - as was already the case
during the previous year - the enterprise is strongly dependent on the
level of demand from financial service providers and, in view of the
persistent instability in this sector, expects the business field to remain
challenging.
To view the complete 2nd Quarter Report, please visit
www.cenit.de/reports.
About CENIT:
The enterprise has been active as a specialist for product lifecycle
management, enterprise information management solutions, business
optimization and analytics, and application management services since 1988.
CENIT is listed on the Prime Standard of Deutsche Börse and currently
employs about 700 staff. Among others, CENIT serves clients such as
Allianz, W&W, Daimler, EADS Airbus, Schwäbisch Hall Kreditservice, BWB and
Kuka. Many of our customers are medium-sized enterprises, particularly from
the automotive and mechanical engineering sectors, e.g. Jungheinrich, Flow,
Viessmann or Georg Fischer. http://www.cenit.de
Please send queries to:
CENIT AG
Investor Relations
Industriestrasse 52-54, D-70565 Stuttgart
Tel.:+497117825-3320
Fax:+49711782544-4320
Email: aktie@cenit.de
Additional Information:
This press/ad hoc report may contain future-oriented statements regarding
the business, financial and earnings situation of, as well as profit
projections for, CENIT. Such future-oriented statements are characterized
by terms or statements such as 'the company may' or 'the company will',
'expects', 'assumes', 'is considering', 'intends to', 'plans', 'believes',
'will continue to' and/or 'estimates', as well as similar terms and
statements. Such statements contain no guarantee that the projections will
in fact be achieved. Rather, such statements involve risks, imponderables
and assumptions that are difficult to predict and, in addition, are based
on assumptions as to future events which may prove to be incorrect. For
this reason, actual events may diverge significantly from the assumptions
contained in the respective statement. In a future-oriented statement by
which CENIT expresses expectations or assumptions with regard to future
events, these expectations or assumptions are made in good faith, and it
shall be assumed that they are made upon an appropriate basis; however, it
cannot be guaranteed that the said statements, expectations or assumptions
shall indeed occur, or be attained or fulfilled. The actual operative
result may diverge significantly from such future-oriented statements and
is subject to certain risks. In this regard, please refer to the Business
Report of CENIT AG.
End of Corporate News
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Language: English
Company: CENIT AG
IndustriestraÃe 52 - 54
70565 Stuttgart
Germany
Phone: +49 (0)711 78 25 - 30
Fax: +49 (0)711 78 25 - 4000
E-mail: aktie@cenit.de
Internet: www.cenit.de
ISIN: DE0005407100
WKN: 540710
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München
End of News DGAP News-Service
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181223 10.08.2012
DGAP-News: CENIT raises 2012 forecast after Q2
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