CENIT AG

Earnings Release • Aug 1, 2025

CENIT GROUP – AT A GLANCE 1 JANUARY TO 30 JUNE 2025 (UNAUDITED)

in EUR k	Q2 2025	Q2 2024	Change in %	H1 2025	H1 2024	Change in %
Key data
Revenue	52,197	48,810	6.9	103,705	99,355	4.4
Third-party software	25,235	24,583	2.7	50,152	50,771	-1.2
from licences	1,620	679	>100.0	2,632	2,817	-6.6
from recurring sales*	23,615	23,903	-1.2	47,520	47,954	-0.9
Proprietary software	5,152	4,819	6.9	9,561	9,291	2.9
from licences	1,467	1,287	14.0	2,136	2,444	-12.6
from recurring sales*	3,685	3,532	4.3	7,425	6,847	8.4
Consulting and services	21,758	19,354	12.4	43,905	39,210	12.0
Merchandise	52	54	-3.7	87	83	4.8
EBITDA	3,640	2,651	37.2	1,201	5,796	-79.3
EBITA	2,072	1,354	53.0	-1,948	3,180	>-100.0
EBIT	1,750	768	>100.0	-3,685	2,006	>-100.0
as % of sales	3.4	1.6	>100.0	-3.6	2.0	>-100.0
Net income	251	198	26.8	-4,872	360	>-100.0
per share in Cent (basic / undiluted after minority interests)	1,7	1.0	70.0	-54,5	1,3	>-100.0
Cash flow data
Cash flow from current busi ness activities	-1,670	1,387	20.4	9,990	11,150	-10.4
Cash flow from investment activity	-286	-795	-64.0	-583	-1,678	65.3
Cash flow from
financing activity	-4,407	-2,868	53.7	-5,610	-5,225	-7.4
Balance sheet ratios				30/06/ 2025	31/12/ 2024	Change in %
Liquid assets				20,593	16,457	25.1
Net liquidity				-26,421	-34,457	23.3
Total assets				155,226	156,452	-0.8
Equity ratio in %				25.6	30.3	-15.5
Employees on reporting date				945	984	-4.0
Key share ratios
Closing share price (Xetra) in EUR				8.74	7.25	-20.6
Market capitalization				73,134	60,666	-20.6

*Subscription and software maintenance contracts

Interim Management Report

Report on assets and financial and earnings situation

Stable momentum: CENIT reports the strongest half-year in the company's history in terms of sales revenue

CENIT continued its growth path in the second quarter of 2025. Despite a challenging economic environment, the CENIT Group posted the strongest half-year sales figures in the company's history, generating sales revenues of EUR 103,705 k (previous year: EUR 99,355 k/+4,4%). The largest share of this development was attributable to revenues from consulting and services, which increased by EUR 4,695 k to EUR 43,905 k. In addition, revenues from CENIT software increased by 2.9% to EUR 9,561 k, with the expansion of recurring revenues by 8.4% to EUR 7,425 k contributing in particular to this growth and thus sustainably strengthening the CENIT software business. Revenue from third-party software decreased slightly by 1.2% from EUR 50,771 k to EUR 50,152 k.

The positive sales development and the higher other operating income compared to the previous year (+ EUR 204 k vs. previous year) were unable to compensate for the increase in operating expenses (+ EUR 10,153 k vs. previous year), resulting in a decrease in consolidated EBIT to EUR -3,685 k (previous year: EUR 2,006 k).

Segments at a glance

The performance of both the PLM and the EIM segments in the first half of 2025 was as follows: EIM increased external revenue by 2.0% and segment EBIT of EUR 561 k compared to the same period of the previous year which is EUR -374 k below the previous year's level. The PLM division also increased its segment revenue by 5.0% and achieved a segment EBIT of EUR -4,246 k, which is EUR 5,317 k below the previous year's level. This decline was due, on the one hand, to customer behaviour influenced by the economic situation and, on the other hand, to the transformation of the PLM segment, which is proceeding as expected but is having a negative impact of around -3.8 mEUR on the half-year results in the PLM area.

Continued very solid financial strength thanks to an operating cash flow of EUR 9,990 k and cash and cash equivalents of EUR 20,593 k.

The continued positive cash flow from operating activities (EUR 9,990 k; previous year: EUR 11,150 k) is mainly the result of a positive change in working capital (EUR 10,116 k). The suspension of acquisition activity in 2025 (previous year: EUR -809 k) strengthened CENIT's financial position and was a major factor in the EUR -1,095 k decrease in cash flow from investing activities. Cash flow from financing activities (EUR -5,610 k) is attributable to the repayment of lease liabilities (EUR -2,418 k) on the one hand and the repayment of financial liabilities (EUR -3,192 k) on the other. As a result, cash and cash equivalents as of June 30, 2025 increased by EUR 4,136 k to EUR 20,593 k compared to December 31, 2024.

A Group equity ratio of 25.6% and growing cash and cash equivalents (EUR 20,593 k vs. December 31, 2024: +25.1%) characterize the financial position of the CENIT Group.

Total assets decreased by EUR -1,226 k compared to December 31, 2024. On the assets side, this is mainly due to the decrease in intangible assets (EUR -6,773 k), offset by the increase in cash and cash equivalents (EUR +4,136 k). On the liabilities side, the decrease is mainly attributable to the decline in equity (EUR -7,658 k), the repayment of long-term bank liabilities (EUR -2,858 k), the decrease in deferred tax liabilities (EUR -2,509 k), and the corresponding increase in contractual liabilities (EUR +13,878 k).

Events after the end of the interim reporting period

Effective July 1, 2025, the CENIT Supervisory Board has appointed Dr. Johannes Fues to the Management Board of CENIT. Dr. Johannes Fues succeeds Chief Financial Officer Axel Otto, who retired on June 30, 2025, and will assume the role of Chief Transformation Officer (CTrO) in addition to his role as Chief Financial Officer (CFO). In this role, he will be responsible for the financial management of CENIT and for the group-wide transformation along strategic growth and efficiency paths.

Employees

As of June 30, 2025, the CENIT Group had 945 employees (December 31, 2024: 984).

Report on principal transactions with related parties

There have been no material changes to the relevant information since the last consolidated financial statement for the period to December 31, 2024

Report on opportunities and risks

With regard to the significant opportunities and risks relating to the anticipated development of the CENIT Group, we refer to the comments in the Group management report as of December 31, 2024, which contain relevant notes in the context of the forecast report, as well as to the comments in this half-year financial report. There have been no significant changes in this regard in the meantime.

Report on forecasts and other statements regarding anticipated development

In line with the results achieved in the first half of 2025, the forecast for the full 2025 financial year has been revised. Due to the continuing impact of the economic environment on business expectations and the challenges associated with the development of Analysis Prime, the Management Board now anticipates revenue of at least 205.0 mEUR and an EBIT of at least -1.5 mEUR.

CENIT AKTIENGESELLSCHAFT, STUTTGART CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (IN ACCORDANCE WITH IFRS) (UNAUDITED)

in EUR k	Q2 2025	Q2 2024	H1 2025	H1 2024
REVENUE	52,197	48,810	103,705	99,355
Other operating income	502	309	763	559
OPERATING INCOME	52,699	49,119	104,468	99,914
Cost of materials	20,960	21,007	41,770	42,450
Personnel expenses	23,567	20,981	52,304	43,081
Amortisation of intangible assets and depreci ation of property, plant and equipment	1,890	1,883	4,886	3,790
Other operating expenses	4,399	4,475	9,008	8,494
OPERATING EXPENSES	50,816	48,346	107,968	97,815
Impairments on receivables	-133	-5	-185	-93
NET OPERATING INCOME (EBIT)	1,750	768	-3,685	2,006
Interest income	29	74	54	150
Interest expenses and other financial expenses	1,633	698	2,458	1,325
NET PROFIT (LOSS) BEFORE TAXES (EBT)	146	144	-6,089	831
Income taxes	-105	-54	-1,217	471
NET INCOME	251	198	-4,872	360
Amount attributable to CENIT AG shareholders	145	82	-4,562	109
Amount attributable to non-controlling interests	106	116	-310	251
Earnings per share in cent, basic and diluted	1.7	1.0	-54.5	1.3

Items that, under certain circumstances, will be reclassified under the income statement in the future

Compensation from currency translation for foreign subsidiaries	31	36	200	15
Reclassifiable gains/losses from cash flow hedges (after taxes)	-25	414	54	414
Other comprehensive income after taxes	6	450	254	429
Total comprehensive income	257	648	-4,618	789
Amount attributable to CENIT AG shareholders	151	532	-4,310	538

CENIT AKTIENGESELLSCHAFT, STUTTGART CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IN ACCORDANCE WITH IFRS) (UNAUDITED)

in EUR k	30/06/2025	31/12/2024
ASSETS
NON-CURRENT ASSETS
Intangible assets	59,689	66,462
Property, plant and equipment	11,582	12,639
Investments recognised to equity	56	56
Other financial assets	2,840	2,840
Deferred tax assets	1,591	1,187
NON-CURRENT ASSETS, total	75,758	83,184
CURRENT ASSETS
Inventories	276	54
Trade receivables	33,518	33,081
Receivables from investments recognised to equity	2,356	3,118
Contract assets	2,909	2,773
Current tax assets	6,154	4,816
Other receivables	309	591
Cash holdings	20,593	16,457
Other assets	13,353	12,378
CURRENT ASSETS, total	79,468	73,268
TOTAL ASSETS	155,226	156,452

CENIT AKTIENGESELLSCHAFT, STUTTGART CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IN ACCORDANCE WITH IFRS) (UNAUDITED)
in EUR k	30/06/2025	31/12/2024
EQUITY AND LIABILITIES
EQUITY
Subscribed capital	8,368	8,368
Capital reserves	1,058	1,058
Currency translation reserve	2,028	1,828
Legal reserve	418	418
Other reserves	12,844	12,790
Profit carried forward	15,845	17,782
Net income	-4,562	-1,936
Equity attributable to shareholders in the parent company	35,999	40,308
Non-controlling interests	3,780	7,129
EQUITY, total	39,779	47,437
NON-CURRENT LIABILITIES
Other liabilities	879	904
Pension liabilities	999	998
Liabilites to bank	36,308	39,166
Lease liability, non-current	5,510	6,412
Other financial liabilities	3,118	3,197
Deferred tax liabilities	3,485	5,994
NON-CURRENT LIABILITIES, total	50,299	56,671
CURRENT LIABILITIES
Liabilities to bank	909	1,101
Trade payables	6,896	9,859
Liabilities from investments recognised to equity	0	33
Other liabilities	17,353	15,330
Lease liability, current	4,288	4,235
Current income tax liabilities	881	830
Other provisions	52	65
Contract liabilities	34,769	20,891
CURRENT LIABILITIES, total	65,148	52,344
TOTAL EQUITY AND LIABILITIES	155,226	156,452

CENIT AKTIENGESELLSCHAFT, STUTTGART CONSOLIDATED STATEMENT OF CASH FLOWS (IN ACCORDANCE WITH IFRS) (UNAUDITED)

in EUR k	H1 2025	H1 2024
Cash flow from operating activities
Net income	-4,872	360
Depreciation of fixed assets	4,886	3,790
Loss on sale of equipment	8	-19
Financial income and expenses	2,404	1,175
Tax expenses/-income	-1,217	471
Other payments made or received attributable to investment activities	0	617
Increase in other non-current assets	0	180
Increase/Decrease in other non-current liabilities and reserves	467	-1,354
Change in working capital	10,116	8,405
Interest paid	-1,272	-1,119
Interest received	54	150
Income taxes paid	-584	-1,506
CASH FLOW FROM CURRENT BUSINESS ACTIVITIES	9,990	11,150
Payments for investments in property, plant and equipment and intangible assets	-622	-889
Payments received from sale of property, plant and equipment	39	20
Payments for purchase of shares in fully consolidated entities (net cash outflow)	0	-809
CASH FLOW FROM INVESTMENT ACTIVITIES		-1,678
Dividends to shareholders in the parent company	0	-335
Dividends to minorities	0	-725
Lease liabilities repaid	-2,418	-2,126
Bank liabilities repaid	-3,192	-2,039
CASH FLOW FROM FINANCING ACTIVITIES	-5,610	-5,225
CHANGES IN CASH AND CASH EQUIVALENTS	3,797	4,247
Change in cash and cash equivalents due to foreign exchange differences	399	39
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING PERIOD	16,457	24,341
CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD	20,593	28,627

CENIT AKTIENGESELLSCHAFT, STUTTGART STATEMENT OF CHANGES IN EQUITY (IN ACCORDANCE WITH IFRS) (UNAUDITED)
	Equity attributable to shareholders in the parent company
in EUR k	Subscribed capital	Capital reserves	Currency translation re serve	Revenue reserves		Profit car	Net in	Non-controlling	Total
				Legal reserve	Other reserves	ried forward	come	interests
On 1/1/2024	8,368	1,058	1,438	418	12,936	13,621	4,496	2,668	45,003
Reclassification of Group net income from last year						4,496	-4,496
Total comprehensive income for the period			390		-146		-1,936	366	-1,326
Addition to basis of consolidation								4,820	4,820
Dividens paid to minority interests								-725	-725
Dividend distribution						-335			-335
On 31/12/2024	8,368	1,058	1,828	418	12,790	17,782	-1,936	7,129	47,437
Reclassification of Group net income from last year						-1,936	1,936		0
Total comprehensive in come for the period			200		54		-4,562	-310	-4,618
Currency effects on minority interests								-356	-356
Minorities Change in valuation								-1,832	-1,832
Dividends paid to minorites								-852	-852
On 30/06/2025	8,368	1,058	2,028	418	12,844	15,845	-4,562	3,780	39,779

Notes on the interim financial statement

Pursuant to section 315e of the German Commercial Code (HGB), this condensed consolidated interim financial statement for the listed company CENIT Aktiengesellschaft, Stuttgart, was prepared in accordance with the International Financial Reporting Standards (IFRS) published by the International Accounting Standards Board (IASB), as adopted by the EU, and interpretations thereof by the International Financial Reporting Interpretation Committee (IFRIC). In line with the provisions of IAS 34, we have chosen to make the scope of the information presented in this interim financial statement for the period to June 30, 2025 considerably narrower than that in the year-end consolidated financial statement.

The accounting and consolidation principles applied in this consolidated interim financial statement are based on those adopted in the consolidated financial statement for the 2024 fiscal year. No new standards were adopted by the EU in the first half of 2025. This condensed consolidated interim financial statement should be read in conjunction with the CENIT consolidated financial statement for the 2024 fiscal year.

The scope of consolidation remains unchanged compared to December 31, 2024:

Estimates and assumptions

Estimates and assumptions contain corresponding risks and uncertainties. Many factors that have an influence on the business model, business activities, business strategy and success of the CENIT Group are not always within the CENIT Group's sphere of influence. When updating the estimates and discretionary decisions, available information on the probable economic development was taken into account. This information was included when examining the recoverability of financial assets, in particular receivables.

Relevant information on current as well as expected business development was taken into account in the analysis on the recoverability of financial assets, particularly regarding trade receivables and goodwill (IAS 36). In this context, there were no indications of impairment of goodwill.

BREAKDOWN OF INCOME BY PRODUCT/INCOME TYPE

in EUR k	H1 2025	H1 2024	Change in %
Third-party software from licences from subscriptions from software updating	50,152 2,632 8,131 39,389	50,771 2,817 8,629 39,325	-1.2 -6.6 -6.0 0.2
CENIT consulting and services	43,905	39,210	12.0
CENIT Software from licences from subscriptions from software updating	9,561 2,136 1,733 5,692	9,291 2,444 1,351 5,496	2.9 -12.6 28.3 3.6
Merchandise	87	83	4.8
Total	103,705	99,355	4.4

BREAKDOWN OF INCOME BY REGIONS

in EUR k	H1 2025	H1 2024	Change in %
Germany	60,725	63,061	-3.7
Europe excluding Germany	33,183	32,900	0.9
America	9,539	3,156	>100.0
Asia	258	238	8.4
Total	103,705	99,355	4.4

Group segment report

The principles on which information on Group segments was prepared are the same as those adopted in the consolidated financial statement for the 2024 fiscal year.

For corporate management purposes, the Group is organised into business units based on its products and services, and includes the following two reportable operating segments:

• PLM (Product Lifecycle Management)
• EIM (Enterprise Information Management)

30 JUNE 2025IN EUR K	PLM	EIM	RECONCILIATION	TOTAL
External revenue	83,239	20,466	0	103,705
Amortisation and depreciation	3,293	1,593	0	4,886
EBIT	-4,246	561	0	-3,685
Financial result	0	0	- 2,404	-2,404
Income taxes	0	0	1,217	1,217
Net income	-4,246	561	-1,187	-4,872
Segment assets	79,597	47,291	28,338	155,226
Segment liabilities	50,860	19,911	44,675	115,447
Investments in property, plant and equipment and intangible assets	1,356	802	0	2,158

30 JUNE 2024IN EUR K	PLM	EIM	RECONCILIATION	TOTAL
External revenue	79,285	20,070	0	99,355
Amortisation and depreciation	2,181	1,609	0	3,790
EBIT	1,071	935	0	2,006
Financial result	0	0	-1,175	-1,175
Income taxes	0	0	-471	-471
Net income	1,071	935	-1,646	360
Segment assets	64,666	51,184	33,453	149,303
Segment liabilities	44,062	19,388	41,121	104,581
Investments in property, plant and equipment and intangible assets	760	239	0	999

Responsibility statement

"To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, we affirm that the half-yearly financial report provides a true and fair impression of the assets and the financial and earnings situation of the Group, and that this 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 describing the principal risks and opportunities associated with the anticipated development of the Group."

Stuttgart, August 2025 CENIT Aktiengesellschaft

The Management Board

Peter Schneck Dr. Johannes Fues Spokesman, Management Board Chief Financial Officer

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