EQS-News: CENIT Group with a strong annual result 2023: Sales increase by about 14% to EUR 185 million and EBIT growth by 46% to EUR 9.2 million compared to the previous year

Stuttgart, April 4^th, 2024 - 2023 was a successful year for the CENIT Group. Despite the ongoing difficult economic situation in Germany and the various geopolitical challenges, the CENIT Group performed well. The strategically important acquisitions, both in the EIM and PLM environment, made a significant contribution to this. The Group increased sales by 13.9% to EUR k 184,720 and EBIT by 46% to EUR k 9,218. Third-party software and consulting & services represented the largest share of total sales.

Results in detail
During the 2023 business year, CENIT group generated sales revenues of EUR k 184,720 (prior year: EUR k 162,152/+13.9%). Sales of CENIT’s proprietary software declined by -5,2% at EUR k 16,788 compared to EUR k 17,710 in the previous year. This is primarily due to the switch from license sales to Saas models and is therefore beneficial for the sustainability of sales. Sales revenues in CENITs consulting and services segment totaled EUR k 74,380 and thus increased by 33.5% on-year (prior year: EUR k 55,719). Sales of third-party software increased by 5.2% to EUR k 92,697 (prior year: EUR k 88,139).

The gross profit (operating output less cost of materials) amounted to EUR k 110,606 (2022: EUR k 91,995), representing an increase of 20.2%. CENIT achieved EBITDA in amount of EUR k 16,408 (2022: EUR k 11,937/+37.5%) and EBIT of EUR k 9,218 (2022: EUR k 6,305/+46.2%). Increased financing costs for acquisitions reduced earnings per share. Earnings per share were EUR 0.54 (2022: EUR 0.75).

Orders Development
During the 2023 business year, orders received by CENIT Group totaled EUR k 196,084 (2022: EUR k 167,595). Orders in hand on December 31, 2023, amounted to a record level of EUR k 57,491 (2022: EUR k 46,054).

Asset and Financial Situation
On the balance-sheet date, the company’s equity capital was EUR k 45,003 (2022: EUR k 44,783), representing an equity ratio of 29.3% (2022: 35.3%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 24,341 (2022: EUR k 19,914). The operative cash flow was EUR k 5.331 (2022: EUR k 11,488). Furthermore, in 2023, cash and cash equivalents were mainly influenced by an increase in bank loans by EUR k 16,040 to finance acquisitions in amount of EUR k -7,984 (prior year: EUR k -27,927).

Employees
On December 31, 2023, CENIT group employed 893 (2022: 861). Consolidated personnel expenditures during the reporting period were EUR k 78,588 (2022: EUR k 67,266). CENIT currently provides training for 52 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 June 6^th, 2024, the Management and Supervisory Boards will propose to distribute a dividend of EUR 0.04 per share from CENIT AG's unappropriated profit of EUR k 7,015. The background to this is the upcoming financing of further acquisitions, which, in view of the current interest rate trend, is to be carried out as far as possible from existing liquidity in the interests of shareholders.

Outlook
In the 2024 financial year, the CENIT Group expects a further year of growth and efficiency. Before possible acquisition effects, consolidated sales are expected to be between 195.0 and 202.0 mEUR. The EBIT forecast is between 11.7 and 12.2 mEUR, which corresponds to an EBIT margin forecast of at least 6%. In view of the geopolitical situation, the forecast assumes that the ongoing war between Russia and Ukraine and the conflict in the Middle East will not have any significant negative economic impact on our industry and our main customer segments.

The complete 2023 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 35 years! CENIT has around 900 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.