CENIT AG Reports Strong Q1 2024 Results and Confirms Yearly Guidance

CENIT AG has announced a strong performance for the first quarter of 2024 with significant sales growth and an improved earnings forecast. The company reported sales of €50.55 million, which is a 16.4% increase compared to €43.42 million in the same period last year. This growth includes both organic sales increases and contributions from acquisitions made in 2023.

The company's EBIT also saw a noteworthy rise to €0.69 million from €0.01 million in the previous year, reflecting an EBIT margin of 2.4%. After-tax earnings turned positive at €0.03 million, compared to a loss of €0.07 million in the previous year. The notable increase in operating cash flow to €12.54 million from €8.69 million was primarily driven by an improvement in working capital management.

Looking ahead, CENIT confirmed its full-year guidance, expecting sales between €195 million and €202 million and an EBIT ranging from €11.7 million to €12.2 million, indicating a conservative yet promising forecast for the rest of the year. The company plans to continue its growth through strategic acquisitions, aiming to significantly raise annual sales by the beginning of 2025.