CENIT AG

Earnings Release • Mar 22, 2005

News Details

Ad-hoc | 22 March 2005 11:00

CENIT AG Systemhaus:CENIT Annual Balance Sheet 2004

Ad hoc announcement §15 WpHG Financial Figures 2004 CENIT AG Systemhaus:CENIT Annual Balance Sheet 2004 Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— CENIT Annual Balance Sheet 2004 CENIT with 93 cents earnings per share and expects further growth Stuttgart – 22 March 2005 – 10 am – In 2004, CENIT turned in an extremely successful performance, recording the best result in the history of the Company. We succeeded in optimally orienting our services to future market requirements – we are focusing on consulting business to optimise the business processes of our customers in the manufacturing industry, banking and insurance sectors and the retail and utilities industry. In particular, we expanded our consulting business by 14%, concluded and won successful and major orders for the further development of the Company’s key business areas, such as product lifecycle management, enterprise content management and outsourcing. In the 2004 financial year, CENIT generated Group sales of EUR74.9 million (2003: EUR70.5 million/+ 6 %). Gross profit improved disproportionately by 12% from EUR43.0 million to EUR48.0 million. Group EBITDA rose to EUR8.2 million EUR (2003: EUR3.5 million/+ 134%) while EBIT grew by 200% to EUR7.5 million (2003: EUR2.5 million). With EBT of EUR7.6 million (2003: EUR2.4 million/+ 217%) and consolidated EPS of EUR0.93 (2003: EUR0.41), CENIT AG has had an extremely successful year. The Group equity ratio improved from 42% in 2003 to 49%. As of the end of 2004, equity amounted to EUR13.96 million (2003: EUR10.06 million). The Group’s cash and cash equivalents including securities amounted to EUR14.7 million (2003: EUR7.2 million/+ 104%) as of 31 December 2004. As of the balance sheet date 31 December 2004, the number of people employed in the Group was 466 (2003: 442). As of 31 December 2004, booked business in the Group amounted to EUR16 million, with incoming orders of EUR78 million in 2004. Dividend As a result of the excellent performance, the Executive Board and the Supervisory Board will propose to the Annual General Meeting the distribution of a dividend of 30 cents per share to shareholders. Outlook Despite the continuing muted economic forecasts, CENIT is also optimistic for 2005. Our excellent positioning in the PLM consulting market will be further expanded in 2005. Thus, continuing to gain additional market share, particularly in Germany, Europe and North America is fixed as one of our core objectives for the coming years. The market for application and business process outsourcing also continues to be a growth market for CENIT. CENIT is also well positioned here, and we are assuming that we will be participating in this growth. Following the extremely successful 2004, steady growth is also forecast in the enterprise content management market. In 2004, a tangible propensity to make investments was ascertained in this market, from which CENIT was able to profit. In line with this, the Group is planning to increase employee numbers significantly in the consulting area by around 15%. As regards our foreign companies, in Switzerland we are forecasting an increase in sales in line with market conditions, allowing us to record a positive result. In North America, we are anticipating organic growth in business, as demand for consulting services has risen on this market. If you have any questions, please contact: CENIT AG Systemhaus ISIN – DE0005407100 Fabian Rau/Investor Relations Industriestrasse 52-54 /D-70565 Stuttgart Germany Tel.: (+49) 7 11 / 78 25-3185 Fax: (+49) 7 11 / 78 25-4185 E-Mail: f.rau@cenit.de Forward-Looking Statements This news release may contain forward-looking statements about the business, financial condition, results of operations and earnings outlook of CENIT Words such as “may,””will,” “expect,” “anticipate,” “contemplate,” “intend,” “plans,” “believe,””continue” and “estimate,” and variations of these words and similar expressions, identify these forward-looking statements. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. In any forward-looking statement in which CENIT expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished. Actual operating results may differ materially from such forward-looking statements and are subject to certain risks Information about CENIT: CENIT AG Systemhaus is an internationally operating consulting company which employs more than 470 people. Focusing Product Lifecycle Management Consulting, Outsourcing and Enterprise Content Management solutions, the company is listed in Germany’s Prime Standard. Customers are BMW, DaimlerChyrsler, Audi, VW, AIRBUS, CONTI, Allianz, Metro, REWE and others. CENIT AG Systemhaus Industriestraße 52 – 54 70565 Stuttgart Deutschland ISIN: DE0005407100 WKN: 540710 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart; Gate-M, Stuttgart End of ad hoc announcement (c)DGAP 22.03.2005 221100 Mär 05