EQS-News

CENIT Group with a strong annual result 2023: Sales increase by about 14% to EUR 185 million and EBIT growth by 46% to EUR 9.2 million compared to the previous year

EQS-News: CENIT AG / Key word(s): Annual Report/Annual Results CENIT Group with a strong annual result 2023: Sales increase by about 14% to EUR 185 million and EBIT growth by 46% to EUR 9.2 million compared to the previous year 04.04.2024 / 07:54 CET/CEST The issuer is solely responsible for the content of this announcement. Stuttgart, April 4th, 2024 - 2023 was a successful year for the CENIT Group. Despite the ongoing difficult economic situation in Germany and the various geopolitical challenges, the CENIT Group performed well. The strategically important acquisitions, both in the EIM and PLM environment, made a significant contribution to this. The Group increased sales by 13.9% to EUR k 184,720 and EBIT by 46% to EUR k 9,218. Third-party software and consulting & services represented the largest share of total sales.

Results in detail
During the 2023 business year, CENIT group generated sales revenues of EUR k 184,720 (prior year: EUR k 162,152/+13.9%). Sales of CENIT’s proprietary software declined by -5,2% at EUR k 16,788 compared to EUR k 17,710 in the previous year. This is primarily due to the switch from license sales to Saas models and is therefore beneficial for the sustainability of sales. Sales revenues in CENITs consulting and services segment totaled EUR k 74,380 and thus increased by 33.5% on-year (prior year: EUR k 55,719). Sales of third-party software increased by 5.2% to EUR k 92,697 (prior year: EUR k 88,139).

The gross profit (operating output less cost of materials) amounted to EUR k 110,606 (2022: EUR k 91,995), representing an increase of 20.2%. CENIT achieved EBITDA in amount of EUR k 16,408 (2022: EUR k 11,937/+37.5%) and EBIT of EUR k 9,218 (2022: EUR k 6,305/+46.2%). Increased financing costs for acquisitions reduced earnings per share. Earnings per share were EUR 0.54 (2022: EUR 0.75).

Orders Development
During the 2023 business year, orders received by CENIT Group totaled EUR k 196,084 (2022: EUR k 167,595). Orders in hand on December 31, 2023, amounted to a record level of EUR k 57,491 (2022: EUR k 46,054).

Asset and Financial Situation
On the balance-sheet date, the company’s equity capital was EUR k 45,003 (2022: EUR k 44,783), representing an equity ratio of 29.3% (2022: 35.3%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 24,341 (2022: EUR k 19,914). The operative cash flow was EUR k 5.331 (2022: EUR k 11,488). Furthermore, in 2023, cash and cash equivalents were mainly influenced by an increase in bank loans by EUR k 16,040 to finance acquisitions in amount of EUR k -7,984 (prior year: EUR k -27,927).