CENIT Group Achieves Strong Annual Results for 2023 with Significant Growth in Sales and EBIT

In 2023, CENIT Group reported a notable increase in its annual financial results amidst challenging economic and geopolitical conditions. The company saw its sales rise by approximately 14% to EUR 185 million and its EBIT grow by 46% to EUR 9.2 million compared to the previous year. This performance was largely propelled by strategic acquisitions within the EIM and PLM sectors. The group also reported significant contributions from third-party software sales and consulting & services.

The detailed breakdown revealed a dip in sales from CENIT’s proprietary software due to a shift towards Saas models, which is expected to benefit long-term sustainability. Conversely, consulting and services, along with third-party software sales, experienced substantial growth. The overall gross profit saw a 20.2% increase, reaching EUR 110,606. Despite increased financing costs from acquisitions impacting earnings per share, the year ended with strong orders and an optimistic outlook for continued growth and efficiency in 2024.

The company's financial stability is underpinned by a solid equity ratio and an increase in bank deposits and liquid assets. Personnel expenditures and the number of employees grew, reflecting the group’s expansion and investment in training for young professionals. CENIT plans to propose a dividend distribution at the upcoming Annual General Meeting, balancing shareholder interests with the financing of future acquisitions.