Results in detail
CENIT group generated sales revenue of EUR k 207,333 in the 2024 fiscal year (prior year: EUR k 184,720/+12.2%). Sales of CENIT's proprietary software increased by 14.8% to EUR k 19,271 compared to EUR k 16,788 in the prior year. Sales revenues in the CENIT consulting and services area amounted to EUR k 85,337, an increase of 14.7% (prior year: EUR k 74,380). Sales of third-party software rose by 10.7% to EUR k 102,592 (prior year: EUR k 92,697).
The gross profit (operating output less cost of materials) amounted to EUR k 124,546 (2023: EUR k 110,606), representing an increase of 12.6%.
CENIT achieved EBITDA in amount of EUR k 17,263 (2023: EUR k 16,408/+5.2%) and EBITA of EUR k 11,345 TEUR (prior year: EUR k. 11,204 TEUR/+1.3%). EBIT amounted to EUR k 7,381 (2023: EUR k 9,218/-19.9%). The negative financial result in the amount of EUR 8,074 k (previous year: EUR 2,413 k) is impacted in the amount of EUR 3,732 k by the derecognition of the investment in ASCon Systems Holding GmbH, as the company filed for insolvency on March 24, 2025. Earnings per share amounted to EUR -0.23 (2023: EUR 0.54).
Orders Development
During the 2024 business year, orders received by CENIT Group totaled EUR k 230,931 (2023: EUR k 196,804). The order backlog as of December 31, 2024 amounted to EUR k 81,089 (2023: EUR k 57,491).
Asset and Financial Situation
On the balance-sheet date, the company’s equity amounted to EUR k 47,437 (31.12.2023: EUR k 45,003), representing an equity ratio of 30.3% (2023: 29.3%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 16,457 (2023: EUR k 24,341). The operative cash flow amounted to EUR k 10,335 (2023: EUR k 5,331). Furthermore, cash and cash equivalents in the 2024 financial year were mainly influenced by an increase in bank loans of EUR k 3,676 as part of the refinancing and by acquisitions amounting to EUR k 14,792
Employees
As of December 31, 2024, the number of employees in the group was 984 (2023: 893). Personnel expenses in the CENIT group amounted to EUR k 88,045 in the reporting period (prior year: EUR 78,588 k). CENIT is currently training 57 young people in various professions. The trainees include students of the Baden-Württemberg Cooperative State University (DHBW) in the fields of information technology and economics as well as trainees in the field of information technology.
Dividend
At the Annual General Meeting on June 4th, 2025, the Management and Supervisory Boards will propose to distribute no dividend from CENIT AG's unappropriated profit due to the current economic situation.
Outlook
2025 will be another challenging year for the CENIT Group. The focus will primarily be on improving operational competitiveness. Measures for this were already initiated in Q1 as planned within the agreed budget and have already been mainly implemented. Excluding possible acquisition effects, consolidated sales are expected to be between 229.0 - 234.0 million EUR with EBIT of 6.8 - 7.3 million EUR. EBITA (EBIT before PPA amortization) is expected to be around 12.4 mEUR in 2025. This takes into account the current difficult economic conditions.
In view of the geopolitical situation, the planning presented is based on the assumption that the ongoing war between Russia and Ukraine, the conflict in the Middle East and the current tense economic situation in Germany will not have any significant negative economic impact on our industry and our main customer segments.
The complete 2024 Annual Report is available in a German and English version on the CENIT homepage: www.cenit.com/reports.
