CENIT AG

Interim / Quarterly Report • Aug 14, 2013

CENIT Aktiengesellschaft, Stuttgart AT A GLANCE
At a glance – January 1 until June, 30, 2013
in EUR k	June 30, 2013	June 30, 2012
Sales	60,389	57,779
Gross profits	36,590	36,316
EBITDA	4,800	5,051
Operating returns (EBIT)	3,645	3,701
EBT	3,684	3,772
Netincome of the group	2,630	2,591
Earnings per share (basic) in EUR	0.31	0.31
Earnings per share (diluted) in EUR	0.31	0.31
Number of employees at end of period	673	658
EBIT-Margin	6.0%	6.4%
Profit-Margin	4.4%	4.5%
in EUR k	June 30, 2013	June 30, 2012
Equity in ratio	53.0%	58.7%
Equity	32,620	34,648
Liabilities	28,890	24,352
Balance sheet total	61,510	59,000

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 2nd Quarter 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 2nd Quarter 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 2013

DEVELOPMENT OF RESULTS

In the first six months of 2013, CENIT AG was able to increase sales over the same period last year by 4.5%. The PLM segment grew by 6% on-year, while the EIM segment decreased slightly. The result after six months is almost unchanged compared to the previous year. Sales of proprietary software are still developing well with an increase by 31% to EUR k 6,540.

OVERVIEW OF 6 MONTHS FIGURES

During the first 6 months, CENIT group generated sales of EUR k 60,389 (prior year: EUR k 57,779/4.5%). EBITDA amounted to EUR k 4,800 (prior year: EUR k 5,051/-5.0%) at EBIT of EUR k 3,645 (prior year: EUR k 3,701/-1.5%). Results per share were EUR 0.31 (prior year: EUR 0.31).

BREAKDOWN OF EARNINGS

In the PLM segment, CENIT achieved Q1 earnings of EUR k 45,914 (prior year: EUR k 43,120/6%). The EIM segment attained a sales total of EUR k 14,475 against EUR k 14,660 during the same period of 2012 (-1.3%). Sales of third-party software totaled EUR k 25,793 (prior year: EUR k 24,307/6.1%), while sales of CENIT's proprietary software grew from EUR k 5,008 to EUR k 6,540/30.6%. Sales in the service and consulting segment amounted to EUR k 27,937 (prior year: EUR k 28,169/-0.8%). Other sales totaled EUR k 119 (prior year: EUR k 296/-59.7%).

COST DEVELOPMENT

Other operating expenses totaled EUR k 7,274 (prior year: EUR k 7,448).

INVESTMENTS

Investments expenditures in the first 6 months 2013 amounted to EUR k 666 (prior year: EUR k 1,901).

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 31 May 2013, the Managing Board and the Supervisory Board of CENIT proposed the payment of a dividend of EUR 0.30 for the 2012 business year as well as a special dividend in the amount of EUR 0.25 per share. The General Meeting approved this proposal. A total amount of approx. EUR k 4,602 was paid out to the CENIT AG shareholders.

ORDERS SITUATION

The group-wide order intake totaled EUR k 56,208 (prior year: EUR k 59,082/-4.9%). Orders in hand as at 30 June 2013 amounted to EUR k 36,129 (prior year: EUR k 43,954/-17.8%).

ORDERS OF SPECIAL SIGNIFICANCE

None.

LIQUID ASSETS AND SECURITIES

On the balance-sheet date, bank deposits totaled EUR k 29,838 (31 Dec. 2012: EUR k 23,779). The enterprise is free of debt.

ASSET, FINANCIAL AND EARNINGS SITUATION

The balance-sheet total is EUR k 61,510. Trade receivables totaled EUR k 13,798. On the balance-sheet date, equity capital amounted to approx. EUR k 32,620 (31 Dec. 2012: EUR k 34,648) at an equity ratio of 53.0% (31 Dec. 2012: 58.7%). Operative cash flow totaled EUR k 11,372 (prior year: EUR k 7,867).

EMPLOYEES

On 30 June 2013, CENIT employed 673 staff group-wide (prior year: 658).

SUPPLEMENTARY, OPPORTUNITIES AND FORECAST REPORTS

CENIT still adheres to its most recent annual forecast, against the backdrop of the continuing difficult economic conditions, and expects an increase in sales of around 3% and a stable EBIT. The PLM reporting segment is highly dependent on developments in the automotive, aerospace and mechanical engineering industries. Due to the ongoing financial and debt crisis, the EIM segment still faces a difficult market environment in the second half of the year.

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED BALANCE SHEET (in accordance with IFRSs) (unaudited) For the period from January 1 to June 30, 2013
in EUR k	June 30, 2013	June 30, 2012
ASSETS
NON-CURRENT ASSETS
Intangible assets	3,739	4,078
Property, plant and equipment	2,987	3,167
Investment in associates	54	54
Income tax receivable	332	328
Other financial assets measured and recognized at fair value through profit or loss	2,000	2,000
Deferred tax assets	46	54
NON-CURRENT ASSETS	9,157	9,681
CURRENT ASSETS
Inventories	110	88
Trade receivables	13,798	16,398
Receivables from associates	2,107	3,502
Current income tax assets	218	454
Other receivables	152	162
Other financial assets measured at fair value through profit or loss	0	0
Cash and cash equivalents	29,838	23,779
Prepaid expenses	6,131	4,936
CURRENT ASSETS	52,353	49,319
TOTAL ASSETS	61,510	59,000

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED BALANCE SHEET (in accordance with IFRSs) (unaudited) for the period from January 1 to June 30, 2013
in EUR k	June 30, 2013	June 30, 2012
EQUITY AND LIABILITIES
EQUITY
Issued capital	8,368	8,368
Capital reserve	1,058	1,058
Currency translation reserve	207	262
Statutory earnings reserve	418	418
Other earnings reserves	13,537	13,537
Unappropriated retained earnings	9,032	11,005
TOTAL EQUITY	32,620	34,648
NON-CURRENT LIABILITIES Other liabilities Deferred tax liabilities NON-CURRENT LIABILITIES	1,448 1,059 2,507	1,404 939 2,343
CURRENT LIABILITIES Trade liabilities Liabilities due to associates	2,503 0	4,156 20
Other liabilities	10,742	10,237
Current income tax liabilities	1,682	1,540
Other provisions	454	166
Deferred income	11,002	5,890
CURRENT LIABILITIES	26,383	22,009
TOTAL EQUITY AND LIABILITIES	61,510	59,000

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED INCOME STATEMENT (in accordance with IFRSs) (unaudited) for the period from January 1 to June 30, 2013

in EUR k		1st Jan – 30th June 2013	1st Jan – 30th June 2012
1. REVENUE		60,389	57,779
2. Increase/decrease in work of process		2	-4
Total operating performance		60,391	57,775
3. Other operating income		305	395
Operating performance		60,696	58,170
4. Cost of materials	24,106		21,854
5. Personnel expenses	24,516		23,817
6. Amortization and depreciation of intangible assets and property, plant
and equipment	1,155		1,350
7. Other operating expenses	7,274		7,448
		57,051	54,469
OPERATING RESULT		3,645	3,701
8. Other interest and similar income	45		83
9. Other interest and similar expenses	6		12
		39	71
RESULT FROM ORDINARY ACTIVITIES		3,684	3,772
10. Income taxes		1,054	1,181
NET INCOME OF THE GROUP FOR THE YEAR		2,630	2,591
thereof attributable to the shareholders of CENIT AG		2,630	2,591
Earnings per share in EUR
Basic		0.31	0.31
diluted		0.31	0.31

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED INCOME STATEMENT (in accordance with IFRSs) (unaudited) for the period from April 1 to June 30, 2013

in EUR k		2nd Quarter 2013	2nd Quarter 2012
11. REVENUE		28,574	28,658
12. Increase/decrease in work of process		2	-4
Total operating performance		28,575	28,654
13. Other operating income		125	271
Operating performance		28,700	28,925
14. Cost of materials	11,348		11,199
15. Personnel expenses	11,467		11,329
16. Amortization and depreciation of intangible assets and property, plant and equipment	568		692
			3,648
17. Other operating expenses	3,459	26,842	26,868
OPERATING RESULT		1,859	2,057
18. Other interest and similar income	22		34
19. Other interest and similar expenses	3		10
RESULT FROM ORDINARY ACTIVITIES		19 1,878	24 2,081
20. Income taxes		505	742
NET INCOME OF THE GROUP FOR THE YEAR		1,373	1,339
thereof attributable to the shareholders of CENIT AG		1,373	1,339
Earnings per share in EUR
Basic		0.16	0,16
diluted		0.16	0,16

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED STATEMENT OF CASH FLOWS (in accordance with IFRS) (unaudited) for the period from January 1 to June 30, 2013

in EUR k	June 30, 2013	June 30, 2012
Cash flow from operating activities
Earnings before tax and net interest	3,645	3,701
Adjustments for:
Amortization/depreciation of intangible assets and property, plant and equipment	1,155	1,350
Gains (-) and losses (+) on disposals of non-current assets	30	33
Other non-cash income and expenses	26	250
Increase/decrease in other non-current assets and liabilities and provisions	29	-7
Interest paid	-6	-12
Interest received	45	83
Income tax paid	-552	-1,050
Net operating income before changes in net working capital	4,372	4,348
Increase/decrease in trade receivables and other current non-cash assets	2,736	-2,561
Increase/decrease in inventories	-23	160
Increase/decrease in current liabilities and provisions	4,287	5,920
Net cash flows from operating activities	11,372	7,867
Cash flow from investing activities
Purchase of property, plant and equipment and intangible assets	-666	-1,901
Income from the sale of property, plant and equipment	0	1
Net cash paid for investing activities	-666	-1,900
Cash flow from financing activities
Dividends paid to shareholders	-4,602	-2,510
Net cash paid for financing activities	-4,602	-2,510
Net increase/decrease in cash and cash equivalents	6,104	3,457
Change in cash and cash equivalents due to foreign exchange differences	-45	0
Cash and cash equivalents at the beginning of the reporting period	23,779	18,135
Cash and cash equivalents at the end of the reporting period	29,838	21,592

CENIT Aktiengesellschaft, Stuttgart CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (in accordance with IFRS) (unaudited)
In EUR k		1st Jan – 30th June 2013	1st Jan – 30th June 2012
Net income for the year		2,630	5,419
Other comprehensive income
Currency translation reserve of foreign subsidiaries	-55		-59
Actuarial gains/losses from defined benefit obligations and similar obligations	0		-516
Deferred taxes recognised on other comprehensive income	0		108
Other comprehensive income after tax		-55	-467
Total comprehensive income		2,575	4,952
Thereof attributable to the shareholders of CENIT AG		2,575	4,952

CENIT Aktiengesellschaft, Stuttgart STATEMENT OF CHANGES IN EQUITY (in accordance with IFRS) (unaudited) As of 30 June 2013

	Subscribed	Capital	Currency		Revenue reserves	Retained	Total
in EUR k	capital	reserves	translation	Legal	Other	earnings
			reserve	reserve	reserves
As of 1st January 2012	8,368	1,058	321	418	12,245	9,796	32,206
Total comprehensive income			-59		-408	5,419	4,952
Allocation to other
revenue reserves					1,700	-1,700	0
Dividend distribution						-2,510	-2,510
As of 31st December 2012	8,368	1,058	262	418	13,537	11,005	34,648
Total comprehensive income			-55			2,630	2,575
Dividend distribution						-4,602	-4,602
As of 30 June 2013	8,368	1,058	207	418	13,537	9,032	32,620

CENIT Aktiengesellschaft Segment Reporting by Business Unit (in accordance with IFRSs) unaudited for the period from January 1 to June 30, 2013

		EIM	PLM	Reconsiliation	Group
in EUR k
External revenue	Q1-Q2 2013	14,475	45,914	0	60,389
	Q1-Q2 2012	14,660	43,120	0	57,779
EBIT	Q1-Q2 2013	159	3,486	0	3,645
	Q1-Q2 2012	215	3,487	0	3,701
Share of profit of	Q1-Q2 2013	0	0	0	0
an associate	Q1-Q2 2012	0	0	0	0
Other interest result and	Q1-Q2 2013	0	0	39	39
financial result	Q1-Q2 2012	0	0	71	71
Income taxes	Q1-Q2 2013	0	0	1,054	1,054
	Q1-Q2 2012	0	0	1,181	1,181
Net income of the Group	Q1-Q2 2013	159	3,486	-1,015	2,630
	Q1-Q2 2012	215	3,486	-1,110	2,591
Segment assets	Q1-Q2 2013	9,250	19,769	32,437	61,456
	Q1-Q2 2012	14,227	22,631	25,841	62,699
Investment in an associate	Q1-Q2 2013	0	54	0	54
	Q1-Q2 2012	0	53	0	53
Segment liabilities	Q1-Q2 2013	8,295	17,852	2,743	28,890
	Q1-Q2 2012	12,512	15,653	2,256	30,421
Investments in intangible assets and	Q1-Q2 2013	200	466	0	666
property, plant and equipment	Q1-Q2 2012	665	1,236	0	1,901
Amortization and depreciation	Q1-Q2 2013	360	795	0	1,155
	Q1-Q2 2012	451	898	0	1,350

EIM=Enterprise Information Management; PLM = Product Lifecycle Management

CENIT Aktiengesellschaft

Group Segment Report by Region (in accordance with IFRSs) for the period from January 1 to June 30, 2013 unaudited

in EUR k		Germany	Switzerland	North America	Romania	France	Japan	Reconciliation	Consolidation	Group
External revenue	Q1-Q2 2013	50,559	4,753	4,294	455	0	328	0		0 60,389
	Q1-Q2 2012	47,003	5,565	4,598	473	33	108	0		0 57,779
Segment assets	Q1-Q2 2013	25,833	2,955	2,554	284	41		250 32,437 -2,898 61,456
	Q1-Q2 2012	31,378	3,770	2,849	230	209		129 25,841 -1,707 62,699
Investment in an associate	Q1-Q2 2013	54	0	0	0	0	0	0	0	54
	Q1-Q2 2012	53	0	0	0	0	0	0	0	53
Investments in property, plant and	Q1-Q2 2013	624	8	4	16	14	0	0	0	666
equipment and intangible assets	Q1-Q2 2012	1,840	2	24	21	14	0	0	0	1,901

DIRECTORS' HOLDING:

Number of shares as at June 30th, 2013

Total number of shares	:	8,367,758
Management Board:		Supervisory Board:
Kurt Bengel:	6,000	Andreas Schmidt:	191,792
Matthias Schmidt:	1,000	Hubert Leypoldt:	1,600
		Andreas Karrer:	1,000

Financial Calendar:

September 5th, 2013	Capital Market Conference, Zürich
November 8th, 2013	9 Months Report
	November 11th-13th, 2013 German Equity Forum, Frankfurt
December 4th-5th, 2013	Capital Market Conference, Munich

70565 Stuttgart Tel. + 49 7 11 78 25-30 Fax: +49 7 11 78 25-40 00 ISIN: DE0005407100 Internet: www.cenit.de E-Mail: aktie@cenit.de