NEWS: CENIT in the first half year 2020 with a sales decline of nearly 12% compared to the previous year

During the first six months, CENIT group generated sales revenues of EUR k 74,689 (prior year: EUR k 84,495/-11.6%). Sales revenues in CENITs consulting and services segment decreased by -15.9% to EUR k 20,378 (prior year: EUR k 24,229). Sales of third-party software fell by approx. -11.2% to EUR k 46,701 (prior year: EUR k 52,601). Sales proceeds from CENIT’s proprietary software decreased as well from EUR k 7,604 to EUR k 7,323 (-3.7%).

The gross profit (operating output less cost of materials) amounted to EUR k 36,878 (prior year: EUR k 42,079), representing a decrease of -12.4%. CENIT achieved EBITDA of EUR k 3,808 (prior year: EUR k 4,984/-23.6%) and EBIT of EUR k 781 (prior year: EUR k 2,061/-62.1%). Results per share were 0.04 EUR (prior year: 0.16 EUR).


Orders Development

During the first six months, the group-wide order intake totaled EUR k 80,087 (prior year: EUR k 87,853). On June 30th, 2020 orders in hand amounted to EUR k 52,620 (prior year: EUR k 56,748).


Asset and Financial Situation

On the balance-sheet date, equity capital totaled EUR k 40,873 (31 Dec. 2019: EUR k 40,940), accounting for an equity ratio of 45.3% (31 Dec. 2019: 45.8%). On the balance-sheet date, bank deposits and liquid assets totaled EUR k 25,304 (31 Dec. 2019: EUR k 18,461). The operative cash flow was EUR k 9,414 (prior year: EUR k 12,636).


Employees

On June 30th, 2020, CENIT group employed 717 (prior year: 751). Group-wide personnel costs for the reporting period were EUR k 28,650 (prior year: EUR k 31,060).


Outlook

The global economic environment continues to be characterized by great uncertainties due to the corona virus pandemic, especially in our main sectors of automotive, aerospace and mechanical engineering. It therefore remains difficult to predict the negative effects. For this reason, we continue to refrain from making reliable sales and earnings forecasts for the 2020 financial year. 

Please visit CENIT’s homepage for the full 6 Months Report 2020: www.cenit.com/reports


Original News Publication - CIMdata

Date - 4th August, 2020


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