Update: Paying double dividends
Despite a difficult environment, CENIT performed strongly over FY14 and Q4 in particular. Full year EBIT grew by 12% y-o-y on revenue growth of 3.8%. Dividends for the year were over double last year and EBIT margins improved 3.4pp y-o-y in Q4 to 9.5%. Management has guided to a conservative 3% revenue growth and 5% EBIT growth in FY15 but this assumes minimal margin improvement and therefore could easily be exceeded given the current trend. There are also multiple revenue drivers which could see revenue exceed guidance.Cenit is a holding company, engaged in the IT services and consulting industry. Co. provides all types of services in the field of introducing and operating information technology and to sell and market information technology software and systems. Co. has two business divisions: Product Lifecycle Management (PLM) and Enterprise Information Management (EIM). The PLM segment focuses on industrial customers and the corresponding technologies. Its industry focus is on the automotive, aerospace, mechanical engineering and shipbuilding industries. The Enterprise Information Management (EIM) segment focuses on the customer segment of trade and commerce, banks, insurance firms and utilities.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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