Q3 2024 CENIT AG Earnings Call Transcript
Key Points
- Cenit AG (XTER:CSH) reported a 13.6% increase in revenue year-to-date, driven by acquisitions and organic growth.
- The company achieved a 4.3% organic growth rate, despite challenges in the market.
- Annual licenses grew by 10%, indicating strong organic growth in this segment.
- Recurring sales increased by about 12%, as more customers transitioned to the SaaS model.
- The order backlog increased by 44.7%, suggesting strong future demand.
- Cenit AG (XTER:CSH) had to reduce its EBIT forecast due to economic challenges and customer insolvencies.
- The company faced 12 Chapter 11 bankruptcy situations in Q3, impacting revenue and license sales.
- Major customers in the aviation and automotive industries reduced their service usage, affecting EBIT by $1.6 million.
- EPS decreased by 61% due to increased bank interest and minority rights impacts.
- The company anticipates challenges in achieving its Q4 targets due to economic uncertainties and customer reluctance to make decisions.
Good morning, ladies and gentlemen, and I warmly Welcome you to today's earnings call of the CENIT AG following the publication of the Q3 figures of 2024. With me today is Chief Executive Officer Peter Schneck and CFO Axel Otto. So the gentleman will speak shortly and guide us through the presentation and the results. And after the presentation, you can ask your questions directly to them if you may have. So having said this, Mr. Schneck, I hand over to you.
Yeah, thank you very much and a very warm Welcome and Good morning, ladies and gentlemen and thank you very much for participating in today's earnings call for the Q3 2024. As you all know, I have to refer to our talk message that we launched last week Thursday where we increased our guidance on revenue, but also had to reduce our EBIT forecast for this year.
I will come to this later on and maybe also explain a little bit the ratio of this. As usual, I would like to run you through the Q3 figures and of course, the
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