CENIT AG (FRA:CSH) CENIT AG: Change in accounting methodology (IFRS15)
Transparency directive : regulatory news
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DGAP-Ad-hoc: CENIT AG / Key word(s): Preliminary Results Stuttgart, March 14, 2022: After advanced analysis of the so far preliminary results of the CENIT Group during the still ongoing closing process, the latest sales forecast of EUR 153.0 - 155.0 million for the fiscal year 2021 as of January 28, 2022 will be adjusted due to a change in the accounting methodology according to IFRS 15. Consequently, the CENIT Group is expected to generate sales of EUR 145.5 to 147.5 million on the same basis according to the new accounting method, with an EBIT of EUR 6.0 to 6.3 million, which remains unchanged from the forecast of January 28, 2022. As a result, the EBIT margin for the fiscal year will increase from the previous 3.9% to 4.0% to 4.2% to 4.3%. The reason for updating the revenue forecast is an upcoming new accounting practice in the software industry regarding the treatment of software license revenue from resellers in accordance with the International Reporting Standard Committee (IFRIC). For comparative purposes, the previous year's revenue figures in the financial statements for fiscal year 2021 have also been adjusted accordingly. The accuracy of the previous 2020 financial statements is not affected by this. CENIT AG
14-March-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | CENIT AG |
| Industriestraße 52 - 54 | |
| 70565 Stuttgart | |
| Germany | |
| Phone: | +49 (0)711 78 25 - 30 |
| Fax: | +49 (0)711 78 25 - 4000 |
| E-mail: | aktie@cenit.de |
| Internet: | www.cenit.com |
| ISIN: | DE0005407100 |
| WKN: | 540710 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1302093 |
| End of Announcement | DGAP News Service |
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1302093 14-March-2022 CET/CEST