Stuttgart, August 1st, 2024 – The CENIT Group continues to pursue its growth path also in the second quarter of 2024 and achieved sales revenue of EUR 99,355 k (previous year: EUR 87,470 k/+13.6%). Sales of third-party software increased by 13.4% to EUR 50,771 k (prior year: EUR 44,754 k). Sales of CENIT's own software increased significantly from EUR 7,637 k to EUR 9,291 k (+21.7%). Sales revenues in the CENIT consulting and services segment increased by 12.0% to EUR 39,210 k (previous year: EUR 35,008 k).
Gross profit (operating performance less cost of materials) amounted to EUR 57,464 k (previous year: EUR 52,770 k) and thus increased by 8.9%. CENIT achieved EBITDA of EUR 5,796 k (previous year: EUR 5,746 k/+0.9%) and EBIT of EUR 2,006 k (previous year: EUR 2,620 k/-23.4%), which was mainly due to acquisition costs and higher depreciation and amortization in relation to company acquisitions. Earnings per share amounted to Cent 1,3 (previous year: Cent 18,5).
Asset and Financial Situation
As of the balance sheet date, equity amounted to EUR 44,732 k (Dec. 31, 2023: EUR 45,003 k). The equity ratio amounted to 30.0% (Dec. 31, 2023: 29.3%). Bank balances, cash and cash equivalents amounted to EUR 28,627 k as of the balance sheet date (Dec. 31, 2023: EUR 24,341 k). The operating cash flow reached EUR 11,150 k (previous year: EUR 10,304 k) in particular due to a project-related increase in receivables.
Employees
As of June 30, 2024, the number of employees in the Group was 936 (Dec. 31, 2023:893). Personnel expenses amounted to EUR 43,081 k in the CENIT Group in the reporting period (previous year: EUR 39,737 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. This forecast does not include any acquisition effects.
Please visit CENIT’s homepage for the entire half-year report as of 30 June 2024.
