CENIT Aktiengesellschaft, Stuttgart
	At a glance – January 1 until June, 30, 2016

in EUR k	June 30, 2016	June 30, 2015


Sales	61,424	59,183
Gross profits	38,007	38,154
EBITDA	5,917	5,904
Operating returns (EBIT)	4,677	4,864
EBT	4,675	4,890
Netincome of the group	3,441	3,581

Earnings per share (basic) in EUR	0.41	0.43
Earnings per share (diluted) in EUR	0.41	0.43


Number of employees at end of period	625	629

EBIT-Margin	7.6%	8.2%
Profit-Margin	5.6%	6.1%

in EUR k	June 30, 2016	December 31, 2015

Equity in ratio	53.8%	59.6%
Equity	35,848	39,843
Liabilities	30,753	27,030
Balance sheet total	66,601	66,873

RESPONSIBILITY STATEMENT FOR THE 2nd QUARTER REPORT

Statement in accordance with § 37y No. 1 WpHG [Securities Trading Act] in conjunction with § 297 Para. 2 Sentence 3 and § 315 Para. 1 Sentence 6 HGB [Commercial Code]:

"To the best of our knowledge and in accordance with the applicable reporting principles, we assert that the 6 Months Report provides a true and fair impression of the actual assets and liabilities and the financial and earnings situation of the group, and that the 6 Months Report describes the course of business, including the business result and the financial situation of the group, in such a way as to impart a true and fair impression of actual circumstances, as well as to describe the principal risks and opportunities associated with the anticipated development of the group."

The Managing Board

August 2016

DEVELOPMENT OF RESULTS

In the first half of 2016, CENIT AG increased sales by 3.8%. Thus significantly involved was the distribution of own software which rose by around 5% as well as sales of thirdparty software which grew by more than 10%.

OVERVIEW OF 6 MONTHS FIGURES

During the first 6 months, CENIT group generated sales of EUR k 61,424 (prior year: EUR k 59,183/3.8%). EBITDA amounted to EUR k 5,917 (prior year: EUR k 5,904/0.2%) at EBIT of EUR k 4,677 (prior year: EUR k 4,864/-3.8%). Earnings per share were EUR 0.41 (prior year: EUR 0.43).

BREAKDOWN OF EARNINGS

In the PLM segment, CENIT achieved in the first 6 months earnings of EUR k 51,325 (prior year: EUR k 47,543/8.0%). The EIM segment attained a sales total of EUR k 10,099 against EUR k 11,640 during the same period of 2015 (-13.2%). Sales of thirdparty software totaled EUR k 28,722 (prior year: EUR k 25,984/10.5%), while sales of CENIT's proprietary software increased from EUR k 7,707 to EUR k 8,059/4.6%. Sales in the service and consulting segment amounted to EUR k 24,532 (prior year: EUR k 25,368/-3.3%). Other sales totaled EUR k 112 (prior year: EUR k 124/-9.9%).

COST DEVELOPMENT

Other operating expenses totaled EUR k 6,940 (prior year: EUR k 7,471).

INVESTMENTS

Investments expenditures in the first 6 months 2016 amounted to EUR k 586 (prior year: EUR k 1.163).

CHANGES IN MANAGING AND SUPERVISORY BODIES

None in the second quarter.

EVENTS OF SPECIAL SIGNIFICANCE WHICH MAY AFECT THE RESULT OF BUSINESS ACTIVITY

None.

INTERIM DIVIDEND

No interim dividend has been disbursed.

DIVIDENDS PAID OR PROPOSED FOR PAYMENT

At the General Meeting of Shareholders on 6 May 2016, the Managing Board and the Supervisory Board of CENIT proposed the payment of a dividend of EUR 1.00 for the 2015 business year. The General Meeting approved this proposal. A total amount of approx. EUR k 8,368 was paid out to the CENIT AG shareholders.

ORDERS SITUATION

The group-wide order intake totaled EUR k 62,887 (prior year: EUR k 66,601/13.2%). Orders in hand as at 30 June 2016 amounted to EUR k 33,293 (prior year: EUR k 39,216/-15.1%).

ORDERS OF SPECIAL SIGNIFICANCE

None.

LIQUID ASSETS AND SECURITIES

On the balance-sheet date, bank deposits totaled EUR k 30,402 (31 Dec. 2015: EUR k 33,941). The enterprise is free of debt.

ASSET, FINANCIAL AND EARNINGS SITUATION

The balance-sheet total is EUR k 66,601. Trade receivables totaled EUR k 17,860. On the balance-sheet date, equity capital amounted to approx. EUR k 35,848 (31 Dec. 2015: EUR k 39,843) at an equity ratio of 53.8% (31 Dec. 2015: 59.6%). Operative cash flow totaled EUR k 5,830 (prior year: EUR k 9,139).

EMPLOYEES

On 30 June 2016, CENIT employed 625 staff group-wide (prior year: 629).

SUPPLEMENTARY, OPPORTUNITIES AND FORECAST REPORTS

For the current year, the CENIT Group is still anticipating a sales growth by 5%. On the whole, CENIT is anticipating a high single-digit rise in earnings (EBIT).

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED BALANCE SHEET (in accordance with IFRSs) (unaudited)


in EUR k	June 30, 2016	December 31, 2015
ASSETS


NON-CURRENT ASSETS
Intangible assets	5,412	3,381
Property, plant and equipment	2,426	2,656
Investment in Joint Venture	53	53
Income tax receivable	89	85
Deferred tax assets	400	400
NON-CURRENT ASSETS	8,380	6,575



CURRENT ASSETS
Inventories	39	76
Trade receivables	17,860	17,947
Receivables from Joint Venture	2,615	3,112
Current income tax assets	1,009	611
Other receivables	83	164
Cash and cash equivalents	30,402	33,941
Prepaid expenses	6,213	4,447
CURRENT ASSETS	58,221	60,298



TOTAL ASSETS	66,601	66,873

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED BALANCE SHEET (in accordance with IFRSs) (unaudited)

in EUR k	June 30, 2016	December 31,2015
EQUITY AND LIABILITIES


EQUITY
Issued capital	8,368	8,368
Capital reserve	1,058	1,058
Currency translation reserve	1,030	1,096
Statutory earnings reserve	418	418
Other earnings reserves	14,807	14,807
Unappropriated retained earnings	9,134	14,096
Equity attributable to shareholders of CENIT AG	34,815	39,843
Non-controlling interests	1,033	0

TOTAL EQUITY	35,848	39,843


NON-CURRENT LIABILITIES
Other liabilities	2,280	2,512
Deferred tax liabilities	931	774
NON-CURRENT LIABILITIES	3,211	3,286


CURRENT LIABILITIES
Trade liabilities	2,833	2,788
Liabilities due to Joint Venture	4	37
Other liabilities	11,173	12,148
Current income tax liabilities	333	403
Other provisions	200	360
Deferred income	12,999	8,008
CURRENT LIABILITIES	27,542	23,744



TOTAL EQUITY AND LIABILITIES	66,601	66,873

	CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED INCOME STATEMENT (in accordance with IFRSs) (unaudited)
	in EUR k		1st Jan – 30th June 2016	1st Jan – 30th June 2015

1.	REVENUE		61,424	59,183
2.	Increase/decrease in work of process		0	0
	Total operating performance		61,424	59,183
3.	Other operating income		663	1,284
	Operating performance		62,087	60,467
4.	Cost of materials	24,080		22,313
5.	Personnel expenses	25,150		24,779
6.	Amortization and depreciation of intangible assets and property, plant and equipment	1,240		1,040
7.	Other operating expenses	6,940		7,471
			57,410	55,603
	OPERATING RESULT		4,677	4,864
8.	Other interest and similar income	2		32
9.	Other interest and similar expenses	4		6
			-2	26
	RESULT FROM ORDINARY ACTIVITIES		4,675	4,890
10.	Income taxes		1,234	1,309

NET INCOME OF THE GROUP FOR THE YEAR			3,441	3,581
thereof attributable to the shareholders of CENIT AG			3,406	3,581
	thereof attributable to non-controlling interests		35	0
	Earnings per share in EUR
Basic			0.41	0.43
diluted			0.41	0.43

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED INCOME STATEMENT (in accordance with IFRSs) (unaudited)
in EUR k		2nd Quarter 2016	2nd Quarter 2015

1. REVENUE		31,796	28.757
2. Increase/decrease in work of process		0	0
Total operating performance		31,796	28,757
3. Other operating income		216	552
Operating performance		32,012	29,309
4. Cost of materials	12,531		10,949
5. Personnel expenses	12,660		12,029
6. Amortization and depreciation of intangible assets and property, plant and equipment	590		541
7. Other operating expenses	3,649		3,328
		29,430	26,847
OPERATING RESULT		2,582	2,462
8. Other interest and similar income	2		7
9. Other interest and similar expenses	2		4
RESULT FROM ORDINARY ACTIVITIES		0 2,582	3 2,465
10. Income taxes		751	766

NET INCOME OF THE GROUP FOR THE YEAR		1,831	1,699
thereof attributable to the shareholders of CENIT AG		1,831	1,699
thereof attributable to non-controlling interests		29	0
Earnings per share in EUR
Basic		0.22	0.20
diluted		0.22	0.20

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED STATEMENT OF CASH FLOWS (in accordance with IFRS) (unaudited)



in EUR k	1st Jan – 30th June	1st Jan – 30th June
	2016	2015
Cash flow from operating activities
Earnings before tax and net interest	4,677	4,864
Adjustments for:
Amortization/depreciation of intangible assets and property, plant and equipment	1,240	1,040
Gains (-) and losses (+) on disposals of non-current assets	-5	-6
Other non-cash income and expenses
Increase/decrease in other non-current assets and liabilities and provisions	-228	-38
Interest paid	-4	-6
Interest received	2	32
Income tax paid	-1,985	-1,923
Net operating income before changes in net working capital	3,697	3,963
Increase/decrease in trade receivables and other current non-cash assets	-831	3,031
Increase/decrease in inventories	37	-20
Increase/decrease in current liabilities and provisions	2,927	2,165
Net cash flows from operating activities	5,830	9,139
Cash flow from investing activities
Purchase of property, plant and equipment and intangible assets	-586	-1,163
Purchase of shares in fully consolidated entities (net cash outflow)	-351	0
Income from the sale of property, plant and equipment	5	21
Net cash paid for investing activities	-932	1,142
Cash flow from financing activities
Dividends paid to shareholders	-8,368	-7,531
Net cash paid for financing activities	-8,368	-7,531
Net increase/decrease in cash and cash equivalents	-3,470	466
Change in cash and cash equivalents due to foreign exchange differences	-69	283
Cash and cash equivalents at the beginning of the reporting period	33,941	33,250

Cash and cash equivalents at the end of the reporting period	30,402	33,999

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (in accordance with IFRS) (unaudited)
In EUR k		1st Jan – 30th June 2016	1st Jan – 30th June 2015
Net income for the year		3,441	3,581
Other comprehensive income
Items that will be reclassified to the income statement in the future under certain circumstances
Currency translation reserve of foreign subsidiaries	-66		467
Items that will not be reclassified to the income statement in the future
Actuarial gains/losses from defined benefit obligations and similar obligations	0		0
Deferred taxes recognised on other comprehensive income	0		0
Other comprehensive income after tax		-66	467
Total comprehensive income		3,375	4,048
Thereof attributable to the shareholders of CENIT AG		3,340	4,048
thereof attributable to non-controlling interests		35