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CENIT AG Systemhaus

ots Ad hoc-Service: CENIT AG Systemhaus <DE0005407100>

Stuttgart (ots Ad hoc-Service) -

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CENIT Group posts 49 % increase in turnover and positive results
in 2000 Internationalization as the basis for future success IT
systems provider concentrates on e-Business and mobile commerce
Stuttgart, 29 March 2001 A 49% increase in turnover, 98% more staff
and the positive operating results achieved in 2000 all strengthen
the position of CENIT AG, the IT services and systems provider.
During the financial year 2000, the CENIT AG Group successfully met
its planned turnover, thereby attaining the target figure of EUR
118.5 million and boosting the Groups fully consolidated turnover by
49% to achieve the companys best turnover ever. This translates as an
increase of EUR 39 million over last years turnover at EUR 79.5
million. Gross yield was up by 57% to EUR 63.8 million (1999: EUR
40.5). The volume of incoming orders also rose by approx. 65%. The
Groups operating result (EBIT) fell to EUR 1.3 million due to the
high level of expenditure incurred in connection with the ongoing
strategy of internationalization. Goodwill amortizations had a
negative impact (EUR -1.2 million) on earnings before interest and
tax. Earnings before tax amounted to EUR 1.0 million. Earnings per
share work out at EUR - 0.15 (undiluted in accordance with IAS).
CENIT recruited as many as 98% more employees. The driving force
behind the CENIT Group is the Systemhaus in Germany, which
contributed EUR 92.3 million to turnover during the past 12 months
(1999: EUR 77.5 million) and generated operating earnings of EUR 3.2
million (1999: EUR 5.6 million). 533 of a total staff of 870
throughout the world were employed in Germany as at the end of 2000.
Future prospects The aim is to increase consolidated turnover by
around 33%, taking it up to EUR 160 million, and to achieve earnings
of EUR 6 million before goodwill amortizations (EBITA). The target
for operating income (EBIT) is EUR 4.3 million. Further recruitment,
taking the total number of employees up to 1060, is also planned.
Gross profit will increase by 39%. CENIT AG systems provider in
Germany will remain the motor behind this growth: in Germany the
company expects to achieve a turnover of EUR 114 million in 2001 and
an operating result (EBIT) of EUR 3.6 million.

Original content of: CENIT AG Systemhaus, transmitted by news aktuell

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