Stuttgart, 14 May 2024 – In the first quarter 2024 the CENIT Group has continued its strong performance from 2023 and remains on course for growth. After three months, the CENIT Group has generated sales revenues of EUR 50,545 k (previous year: EUR 43,416 k/+16.4%). Sales of third-party software increased by 17.6% to EUR 26,188 k (prior year: EUR 22,278 k). Sales of CENIT's own software increased significantly from EUR 3,351 k to EUR 4,472 k (+33.5%). Sales revenues in the CENIT consulting and services segment increased by 11.9% to EUR 19,856 k (previous year: EUR 17,746 k). – In the first quarter 2024 the CENIT Group has continued its strong performance from 2023 and remains on course for growth. After three months, the CENIT Group has generated sales revenues of EUR 50,545 k (previous year: EUR 43,416 k/+16.4%). Sales of third-party software increased by 17.6% to EUR 26,188 k (prior year: EUR 22,278 k). Sales of CENIT's own software increased significantly from EUR 3,351 k to EUR 4,472 k (+33.5%). Sales revenues in the CENIT consulting and services segment increased by 11.9% to EUR 19,856 k (previous year: EUR 17,746 k).
Gross profit (operating performance less cost of materials) amounted to EUR 29,352 k (previous year: EUR 25,672 k) and thus increased by 14.3%. CENIT achieved EBITDA of EUR 3,146 k (previous year: EUR 1,572 k/+>100.0%) and EBIT of EUR 1,239 k (previous year: EUR 6 k/+>100.0%). Earnings per share amounted to Cent 0.3 (previous year: Cent -2.4).
Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 45,144 k (Dec. 31, 2023: EUR 45,003 k). The equity ratio amounted to 27.3% (Dec. 31, 2023: 29.3%). Bank balances, cash and cash equivalents amounted to EUR 33,620 k as of the balance sheet date (Dec. 31, 2023: EUR 24,341 k). The operating cash flow reached EUR 12,537 k (previous year: EUR 8,694 k) in particular due to a project-related increase in receivables.
Employees
As of March 31, 2024, the number of employees in the Group was 918 (Dec. 31, 2023: 893). Personnel expenses amounted to EUR 22,100 k in the CENIT Group in the reporting period (previous year: EUR 20,640 k).
Outlook
For the current year, our outlook for the CENIT Group is to reach a revenue of around EUR 195,000 - 202,000 k and earnings (EBIT) of around EUR 11,700 - 12,200 k. Given the current challenging geopolitical situation, these forecasts are based on the assumption that there will be no significant negative economic impact on our industry and our main customer segments. This forecast does not include any acquisition effects.
Please visit CENIT’s homepage for the entire quarterly report as of 31.03.2024: www.cenit.com/reports.
