CENIT AG — Earnings Release 2009

Nov 9, 2009

News Details

Ad-hoc | 9 November 2009 08:06

CENIT 3rd Quarter result confirms solid development

CENIT AG Systemhaus / Quarter Results

09.11.2009

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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US business hampers result

Stuttgart, 9 November 2009 - CENIT's results during the third quarter show
that we have held our ground in an expectedly difficult business
environment. With total sales of 63.4 m EUR, we have again claimed an
increase over the previous year, in the order of 12 percent. For the first
time, we were able to achieve significant income from software sales again.
As a result, we were able to fulfil our expectations for the 3rd Quarter, a
period characterized by short-time work in the auto industry and the summer
holidays. We are continuing to follow a consistent enterprise policy aimed
at sustainability, and in doing so take a careful approach to the
challenges that lie ahead. As for our customers, we can in many instances
discern resumed investment decisions for new, innovative products. It
remains our foremost task to influence these decisions in our favour.

Overview of 3rd Quarter Figures

Group-wide sales again increased, attaining 63.4 m EUR (09/2008: 56,6 m
EUR/ 12%) at the end of the 3rd Quarter. The gross surplus amounted 43.5 m
EUR (09/2008: 44.9 m EUR/ -3%). EBITDA attained 2.8 m EUR (09/2008: 3.9 m
EUR/ -28%). EBIT during the reporting period amounted to 1.7 m EUR
(09/2008: 2.8 m EUR/ -39%). The pre-tax result (EBT) was 1.9 m EUR
(09/2008: 3.3 m EUR/ -41%). The consolidated result was 1.7 m EUR (09/2008:
2.6 m EUR/ -32%). Consolidated EPS (earnings per share) thus derive to 0.21
EUR per share (09/2008: 0.31 EUR/ -32%).

On 30 September 2009, equity capital totalled approx. 27.1 m EUR (31
December 2008: 25.4 m EUR), accounting for an equity ratio of 64% (31
December 2008: 64%). On the balance-sheet date, bank deposits and
securities incl. current assets totalled 17.6 m EUR (31 December 2008: 13.2
m EUR). The enterprise remains debt-free. The operative cash flow amounted
to 2.6 m EUR (30 September 2008: 4.5 m EUR). On the balance-sheet date, the
number of employees was 705 (09/2008: 726). Orders in hand totalled 21.1 m
EUR (9/2008: 26.2 m EUR) and incoming orders stood at 56.9 m EUR. (9/2008:
73.6 m EUR). In 2008, orders figures were heavily influenced by a single
large order; for this reason, they cannot serve as a meaningful basis for
comparison.

Breakdown of Earnings

Sales in the services sector grew by 9% to a current 40.2 m EUR (09/2008:
36.9 m EUR), making services the strongest contributor to sales with a
share of 63%. Sales of CENIT software during the first 9 months of the
current business year totalled 5.7 m EUR (09/2008: 6.3 m EUR / -9%). Sales
of CENIT's proprietary software thus account for approx. 9% of total sales.
Thanks in particular to the VAR model, the non-CENIT software business grew
by 57% to 16.9 m EUR (09/2008: 10.8 m EUR), accounting for 27% of total
sales. Other accrued income totals 0.5 m EUR.

Holdings - Foreign Subsidiaries

CENIT (Switzerland) AG achieved sales of 2.8 m EUR (09/2008: 3.7 m EUR),
accounting for EBIT of 0.8 m EUR (09/2008: 2.1 m EUR).

With sales of 4.1 m EUR (09/2008: 4.9 m EUR), CENIT North America attained
negative EBIT of -0.6 m EUR (09/2008: 0.2 m EUR).

Achieving sales of 0.4 m EUR (09/2008: 0.5 m EUR), CENIT SRL in Romania was
able to post EBIT of 0.1 m EUR (09/2008: 0.1 m EUR).

The CENIT company in Toulouse, France realized sales of 0.3 m EUR (09/2008:
0.2 m EUR) and EBIT of 0.02 m EUR (09/2008: 0.02 m EUR).

The 3rd quarter result will be presented by Fabian Rau today on the German
Equity Forum.

About CENIT:

Since 1988, the enterprise has been active as a specialist for product
lifecycle management, enterprise content management solutions and
application management outsourcing. CENIT is listed on the Prime Standard
of Deutsche Börse and currently employs more than 700 staff. Among others,
CENIT serves clients such as Allianz, BMW, Daimler, EADS Airbus, LBS, Axa
and VW, as well as numerous medium-sized businesses particularly from the
automotive industry and the mechanical engineering sector, e.g. Dürr, Georg
Fischer or Leoni. http://www.cenit.de

Please send queries to:
CENIT AG Systemhaus,
Fabian Rau
Industriestraße 52-54, D-70565 Stuttgart
Tel.:+49 711 7825-3185
Fax:+49 711 782544-4185
Email: f.rau@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 Annual Report of
CENIT AG Systemhaus.

09.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: CENIT AG Systemhaus
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, München, Düsseldorf, Hamburg

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