CENIT AG

Report Publication Announcement • Mar 31, 2011

News Details

Ad-hoc | 31 March 2011 08:00

CENIT publishes 2010 Annual Report

CENIT AG / Key word(s): Final Results

31.03.2011 08:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Sales growth owed primarily to non-proprietary software -
dividend proposal of 0.15 EUR per share

Stuttgart, 31 March 2011 - The positive annual result of CENIT is the
product of increased customer willingness to make IT investments,
particularly during the last months of the year. Overall sales and EBITDA
results were both up on-year. Based on the balance-sheet figures, CENIT's
Managing and Supervisory Boards will propose to the General Shareholders'
Meeting on 26 May that a dividend of 0.15 EUR per share be distributed.

During the 2010 business year, CENIT Group achieved sales revenue of 93.2 m
EUR (2009: 86.5 m EUR/+8%). Sales of non-proprietary software increased
significantly by approx. 30% to 31.9 m EUR (2009: 24.6) on the strength of
the Value Added Reseller business with our partner Dassault Systèmes. Sales
of CENIT's proprietary software were up slightly at 9.9 m EUR (2009: 9.7 m
EUR/+2%). Turnover from services and consulting amounted to 50.6 m EUR
(2009: 51.3 m EUR/-1%). Other sales totaled 0.7 m EUR (2009: 0.9 m EUR).

Gross profits totaled 61.2 m EUR (2009: 59.4 m EUR/+3%). CENIT achieved
EBITDA of 5.74 m EUR (2009: 5.29 m EUR/+8%) and EBIT of 3.97 m EUR (2009:
3.89 m EUR/+2%). Earnings per share were 0.36 EUR (2009: 0.33 EUR/+9%).

Participations/Subsidiaries

CENIT (SCHWEIZ) AG, Frauenfeld/Switzerland

During the past business year, CENIT (Switzerland) achieved sales revenues
of 3.8 m EUR (2009: 3.3 m EUR), accounting for EBIT of 0.45 m EUR (2009:
0.76 m EUR). In Switzerland, our focus lies on PLM solutions by Dassault
Systèmes and EIM solutions by IBM. 5 staff members work with clients
primarily from the manufacturing industry and the financial services
sector.

CENIT NORTH AMERICA Inc., Auburn Hills/USA

CENIT North America Inc. attained sales of 6.7 m EUR (2009: 6.2 m EUR) and
EBIT of
0.23 m EUR (2009: -0.2 m EUR). In the US, CENIT focuses on marketing
products in the field of PLM. These efforts primarily address customers
from the aerospace and manufacturing industries. 25 staff members are
active in the service and sales segments.

CENIT SRL, Iasi/Romania

CENIT SRL reported total sales of 0.5 m EUR (2009: 0.5 m EUR), accounting
for EBIT of 0.03 m EUR (2009: 0.1 m EUR). 17 staff members are active in
service provision and software development. Since the second half of 2010,
CENIT is also accredited as Value Added Reseller (VAR) for Dassault
Systèmes in Romania and distributes PLM solutions locally.

CENIT France SARL, Toulouse/France

CENIT France SARL posted sales of 0.67 m EUR (2009: 0.47 m EUR) and EBIT of
0.07 m EUR (2009: 0.06 m EUR). The 6 staff members primarily serve our
client EADS Airbus in Toulouse in the fields of project consulting and
tendering.

Incoming Orders

During the previous business year 2010, Group-wide incoming orders totaled
103.4 m EUR (2009: 84.0 m EUR). On 31 December 2010, orders in hand
amounted to 38.3 m EUR (2009: 27.7 m EUR). Particularly in the automotive
and manufacturing industries, confidence in the global economy is on the
rise. As a result, a number of promising contracts were won the 4th Quarter
2010 whose effects will extend into 2011.

Asset and Financial Status

There are no liabilities in relation to banks and lending institutions -
neither short-term not long-term. On the balance-sheet date, equity capital
totaled 29.04 m EUR (2009: 28.08 m EUR). The equity ratio is 58%. (2009:
64%). On the balance-sheet date, bank deposits and liquid assets totaled
13.3 m EUR (2009: 18.6 m EUR). At 2.0 m EUR (2009: 9.3 m EUR), the
operative cash flow is down from the previous year despite a slight
increase in the consolidated result before taxes (EBT). As a result, the
net working capital and thereby our forward commitments have grown. The
on-year growth of investments is primarily a consequence of the acquisition
of conunit GmbH).

Employees

On 31 December 2010, the total number of staff Group-wide was 634 (2009:
647). Personnel costs during the reporting period totaled 40.74 m EUR
(2009: 40.63 m EUR). In 2010, a major focus of CENIT's human resources work
was on the introduction of a new competency model. This model and the
annual staff discussions support our employees in their personal and
professional development.

Outlook

The solid foundation created over the past years kept CENIT stable
throughout the crisis years. The enterprise showed that it is able to
achieve solid results even in troubled times. Although the economy is now
on the road to recovery, CENIT will continue to adhere to its
sustainability-oriented business strategy. However, we will also invest in
inorganic growth whenever the situation permits.

CENIT's aim is to grow profitably in all segments. Given the ongoing
economic recovery, the preconditions for achieving this objective are good.
Following a solid 2010 business year, CENIT expects renewed growth in 2011.
From the current vantage point, the enterprise assumes that sales and
results growth of approx. 10% (adjusted for special factors) can be
achieved for both the consolidated and the individual financial statements.
For the subsequent 2012 business year, we expect growth rates in the same
order of magnitude. As a qualification, we must however note that these
growth forecasts are highly contingent on the further development of the
economy in Germany and in our target markets worldwide, as well as on the
willingness of our customers to continue investing.

With the acquisition of conunit GmbH in the summer of 2010, CENIT was able
to add important new elements to its portfolio. In future, we will also be
able offer our clients services in the future-oriented field of business
intelligence (BI). Enterprises and customers have an urgent need to address
this topic. Indeed, major analysts such as Gartner, PAC, Forrester and IDC
list the issue as one of the most important IT themes of the coming years.
For this reason, CENIT expects to be able to further expand this segment in
the coming years.

We intend to leverage the following factors toward increased sales and
results targets: The enterprise will continue its activities both in Europe
and the US. Additionally, we will sound out new opportunities in the
Pacific and East Asia regions. Aside from acquiring new customers, a prime
focus will lie on growth in the relevant market segments. We will
sustainably continue our collaboration with our partners Dassault Systèmes,
IBM and SAP so as to position ourselves as a long-term strategic partner of
these enterprises.

The complete 2010 Business Report is available in German and English at
CENIT's homepage: www.cenit.de/annual report

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, VR kreditwerk, 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

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Information and Explaination of the Issuer to this News:

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 above 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, 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 Systemhaus

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Language: English
Company: CENIT AG
Industriestraße 52 - 54
70565 Stuttgart
Deutschland
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 Announcement DGAP News-Service

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