DGAP-News: CENIT AG 2021: EBIT increases significantly by 71.7% to EUR 6.2 million sales growth by 2.8% to EUR 146.1 million.

Stuttgart, March 31^st, 2022 - 2021 indeed was another difficult year for the CENIT Group, still marked by the effects of the Corona pandemic but despite the unfavorable environment, CENIT proved in 2021 how resilient and adaptable its business model is.

In 2021 the CENIT Group achieved sales of EUR 146,071 k (before change in method of accounting from principal to agent for revenue from software licenses, revenue would have amounted to EUR 155,130 k) and EBIT of EUR 6,234 k (+71,7%). The main reason for this was the high-margin increase in sales of own software solutions in the areas of Product Lifecycle and Enterprise Information Management. In the fourth quarter of 2021, which is strong in terms of revenue, deals with our customer companies in the financial services, aviation and digital factory segments made a significant contribution to the positive result.

Results in detail

During the 2021 business year, CENIT group generated sales revenues of EUR k 146,071 (prior year: EUR k 142,129/+2.8%). Sales of CENIT's proprietary software rose by 11.1% at EUR k 17,688 compared to EUR k 15,927 previous year. Sales revenues in CENITs consulting and services segment totaled EUR k 39,822 and thus grew by 3.5% on-year (2020: EUR k 38,491). Sales of third-party software increased by around 1.3% to EUR k 88,543 (2020: EUR k 87,402).

The gross profit (operating output less cost of materials) amounted to EUR k 79,797 (2020: EUR k 73,020), representing an increase of 9.3%.

CENIT achieved EBITDA of EUR k 11,278 (2020: EUR k 9,594/+17.6%) and EBIT of EUR k 6,234 (2020: EUR k 3,631/+71.7%). Earnings per share were EUR 0.51 (2020: EUR 0.28/+59.6%).

Orders Development

During the 2021 business year, orders received by CENIT Group totaled EUR k 148,845 (2020: EUR k 132,742). Orders in hand on December 31, 2021 amounted to EUR k 40,610 (2020: EUR k 37,836). This indicates the catch-up effect of customers in the area of digitalization.

Asset and Financial Situation

On the balance-sheet date, the company's equity capital was EUR k 43,645 (2020: EUR k 42,723), representing an equity ratio of 47.0% (2020: 51.2%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 26,361 (2020: EUR k 26,056). The operative cash flow was EUR k 8,236 (2020: EUR k 12,278). Furthermore, in 2021, cash and cash equivalents were mainly influenced by returns of leasing liabilities in amount of EUR k 3,286, dividends paid in amount of EUR k 3,933 and investments in the amount of
EUR k 892.

Employees

On December 31, 2021, CENIT group employed 685 (2020: 711). Consolidated personnel expenditures during the reporting period were EUR k 59,686 (2020: EUR k 54,815). CENIT currently provides training for 32 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

At the Annual General Meeting on May 20, 2022, in consideration of the strong EBIT performance, the Management and Supervisory Boards will propose to distribute a dividend of EUR 0.75 per share from CENIT AG's unappropriated profit of EUR k 9,877.

Outlook

We generally assume another year of growth for the 2022 financial year and therefore expect sales of around EUR 150,000 k and EBIT of around EUR 6,700 k. The forecast does not include any possible acquisition effects and is based on the premise that the current Ukraine conflict will not have a significant negative impact on our business and our main customer segments.

The complete 2021 Annual Report is available in a German and English version on the CENIT homepage: www.cenit.com/reports.

About CENIT:
CENIT is your partner for successful digital transformation. With a broad solutions and services portfolio, CENIT enables clients to optimize their horizontal and vertical business processes. Our solutions are based on innovative technologies in: product lifecycle management, the digital factory and enterprise information management. With interdisciplinary knowledge of the processes involved and their considerable expertise in the field, CENIT consultants provide customers with end-to-end advice to ensure that solutions are implemented with an understanding of the entire value chain. With a holistic approach and based on trusted partnerships, CENIT takes responsibility for solutions on behalf of our clients. From the initial consultation to the introduction of innovative IT solutions, right through to ensuring a cost-effective operation. The CENIT team adapts to each client, taking a practical approach, which enables measurable, operational optimizations. CENIT has been helping prestigious customers in key industries to gain competitive advantages for over 30 years! CENIT has around 720 employees worldwide who work with customers from: automotive, aerospace, industrial equipment, tool and mold manufacturing, financial services, and trade and consumer products industries.

Please send queries to:
CENIT AG
Tanja Marinovic
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.