CENIT AG — Earnings Release 2003

Feb 12, 2004

News Details

Ad-hoc | 12 February 2004 09:49

Cenit AG Systemhaus: Correction

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Corrected announcement on behalf of the issuer: In today’s Ad-hoc-announcement, 8.10 a.m., the first paragraph, fifth sentence, instead of: “…and an EBIT of EUR 2.2 million (2002: EUR 5.4 million/140 %).” it must read: “…and an EBIT of EUR 2.2 million (2002: EUR -5.4 million/140 %).” and in the second paragraph, third sentence, instead of: “The EBIT of the German company totaled EUR 2 million (2002: EUR 8.6 million/+123%)…” it must read: ” The EBIT of the German company totaled EUR 2 million (2002: EUR -8.6 million/+123%)…” The complete corrected announcement is: CENIT`s results of the financial year 2003 exceed expectations The Executive Board of CENIT is optimistic about the financial year 2004 Stuttgart, February 12, 2004 – The preliminary unaudited results of CENIT AG Systemhaus exceed its expectations and allow to look back at a successful financial year. Group sales amounted to EUR 70.5 million (2002: EUR 94 million/-25 %). The drop in sales resulted on the one hand from the separation of the French subsidiary. On the other hand concentration on the consulting business led to a drop in sales of hardware. The CENIT Group achieved an EBITDA of EUR 3.2 million (2002: EUR 2.3 million/39 %) and an EBIT of EUR 2.2 million (2002: EUR -5.4 million/140 %). Thus the positive business development was sustainably confirmed. CENIT Germany, which contributed the greatest part of sales and results with about 98%, reached sales of EUR 68.8 million in the period under consideration (2002: EUR 75.8 million /-9%). The EBITDA in Germany amounted to EUR 2.9 million (2002: EUR 2.1 million/+38%). The EBIT of the German company totaled EUR 2 million (2002: EUR -8.6 million/+123%) and was substantially improved in comparison to the prior year. All short-term liabilities to our commercial banks were paid. Cash and cash equivalents amounted to EUR 6.6 million as of December 31, 2003 (2002: EUR 1.9 million/+247%). The Executive Board is convinced that CENIT will continue the positive development in 2004. Please contact: CENIT AG Systemhaus Fabian Rau Investor Relations/Public Relations Industriestraße 52-54, D-70565 Stuttgart Tel.: (+49) 7 11 / 78 25-3185 Fax.: (+49) 7 11 / 78 25-4185 E-Mail: f.rau@cenit.de end of ad-hoc-announcement (c)DGAP 12.02.2004 ——————————————————————————– WKN: 540710; ISIN: DE0005407100; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 120949 Feb 04