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Psi Aktiengesellschaft Fuer Produkt LSE:0KUR London Ordinary Share DE000A0Z1JH9 PSI SOFTWARE ORD SHS
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PSI Software AG PSI Increases Sales by 13% in the First 9 Months

30/10/2019 9:04am

RNS Non-Regulatory


TIDM0KUR

PSI Software AG

30 October 2019

PSI Increases Sales by 13 Percent in the First Nine Months

 
DGAP-News: PSI Software AG / Key word(s): 9 Month figures/Quarter Results 
 
 30.10.2019 / 09:38 CET 
 The issuer is solely responsible for the content of this announcement. 
 
 PSI Increases Sales by 13 Percent in the First Nine Months 
 - EBIT increased by 5 % to 10.5 million euros 
 - Integration of BTC smart grid business acquired in early 2019 completed 
 - Market growth expected from the climate package in GermanyKPI (TEUR)               1 Jan. - 30 Sept. 2019  1 Jan. - 30 Sept. 2018   Change 
 Sales                                   159,718                 141,555  +12.8 % 
 EBIT                                     10,479                  10,005   +4,7 % 
 Group EBIT                                7,147                   6,850   +4.3 % 
 Result per share (EUR)                     0.46                    0.44   +4.6 % 
 
 
 PSI Group improved sales in the first nine months of 2019 by just under 13 % to 159.7 million 
 euros (30 Sept. 2018: 141.6 million euros) through organic growth in the two segments and 
 5.5 million euros sales from the acquisition in the energy sector. The EBIT increased by 5 
 % to 10.5 million euros (30 Sept. 2018: 10.0 million euros), the group net result increased 
 by 4 % to 7.1 million euros (30 Sept. 2018: 6.9 million euros) despite poorer financial results 
 as a consequence of the application of IFRS 16. New orders were increased by 3 % to 182 million 
 euros. The 176 million euros of the previous year's period included 11.4 million euros in 
 major orders from the public transport sector. The order book volume on 30 Sept. 2019 was, 
 at 156 million euros slightly below the figure for the previous year (30 Sept. 2018: 159 million 
 euros). 
 
 Energy Management (energy networks, energy trading, public transportation) achieved 18 % 
 higher sales of 81 million euros in the first nine months (30 Sept. 2018: 68.9 million euros). 
 The EBIT for the segment improved by 5 % to 4.4 million euros compared to the previous year 
 (30 Sept. 2018: 4.2 million euros). In the third quarter, the BTC Smart-Grid division, which 
 had been acquired on 1 January 2019, still incurred integration costs of just under 0.3 million 
 euros (-1.1 million euros in the first quarter, -0.7 million euros in the second quarter). 
 After around half of the employees acquired were assigned to other divisions of electrical 
 grids and integrated, the integration cost budgets were concluded. The cooperation with the 
 seller EWE/BTC on the unbundling and project handovers was very constructive and professional. 
 The new INFRA division (integrated municipal utilities, infrastructures, industry) achieved 
 new orders of 9 million euros in the first nine months, sales of 5.5 million euros and a positive 
 result after allocation in the third quarter. After completion of the integration, electrical 
 grids will again concentrate more on growth and regular customers. Energy trading, which was 
 burdened in the first half of the year with investments in pilot projects to replace a competitor 
 system, delivered a balanced result in the third quarter and achieved appealing progress and 
 project approvals. PSI continues to invest in software for the intelligent management of low-voltage 
 networks. Among other things, an important export order for charging management for the electric 
 buses of a European metropolis was won in the third quarter. 
 Sales in Production Management (raw materials, metal, industry, logistics) was, at 78.7 million 
 euros, 8 % above the value for the previous year in the first nine months (30 Sept. 2018: 
 72.6 million euros). The EBIT improved by 7 % to 7.0 million euros (30 Sept. 2018: 6.6 million 
 euros). With good business in America and China, metals business continues to manage to keep 
 new orders, sales and earnings more or less constant despite the steel crisis. Automotive, 
 industrial and logistics were able to increase sales by 15 % and earnings by 32 %. The third 
 quarter was burdened by investments in Mines&Roads, which is concentrating more on low-risk 
 indirect business with integration partners and on emission-reducing traffic solutions in 
 Europe. 
 In Russia PSI expects incoming orders of around 15 million euros from the gas networks, logistics 
 networks, metals industry (tubular steel) and electricity grid businesses. 
 The number of employees in the group increased as of 30 Sept. 2019 to 1,981 (30 Sept. 2018: 
 1,775) as a result of new hires and the acquisition of the BTC smart grid business. Cash flow 
 from operating activities decreased to 1.8 million euros (30 Sept. 2018: 7.2 million euros) 
 as a result of seasonally rising working capital, the purchase price payment for the business 
 acquired and the integration costs. Liquidity decreased accordingly to 30.8 million euros 
 (30 Sept. 2018: 35.5 million euros). 
 On the basis of the PSI Java Frameworks, PSI has come to support more than 300 application 
 consultants (and "PSI-Click Designer") at integration partners and in the IT departments of 
 customers. PSI will invest in a more automated app store cloud support of this fast growing 
 community, to further improve their economic success and to be able to roll out more licenses. 
 PSI continues to record strong demand, particularly for control technology for electricity 
 and gas networks as well as in the logistics and automotive sectors, and therefore expects 
 further increases in the high-margin license, maintenance, upgrade and cloud business in the 
 coming quarters. Despite the gloomy economic forecasts in Germany and the integration burden, 
 the PSI Management Board continues to expect sales growth of 10 % to 220 million euros and 
 an increase in the operating result of close to 17 million euros for 2019. 
 The German government's Climate Protection Programme 2030 contains numerous initiatives which, 
 if implemented, could lead to additional annual investments of around 100 million euros in 
 control system software in Germany. In addition to the energy sector, this also applies increasingly 
 to the heat and transport sectors. PSI is already involved in more than 20 pre-competitive 
 research projects. The management therefore expects continued good growth in the domestic 
 market of Germany and Europe. 
 On the basis of its own software products, the PSI Group develops and integrates complete 
 solutions for optimizing the flow of energy and material at suppliers (energy networks, energy 
 trading, public passenger transport) and industry (raw material extraction, metal production, 
 automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs almost 
 2000 persons worldwide. www.psi.de 
 Contact: 
 PSI Software AG 
 Karsten Pierschke 
 Head of Investor Relations and Corporate Communications 
 Dircksenstraße 42-44 
 10178 Berlin 
 Germany 
 Phone +49 30 2801-2727 
 Fax +49 30 2801-1000 
 Email: KPierschke@psi.de 
 
 
 30.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group 
 AG. 
 The issuer is solely responsible for the content of this announcement. 
 
 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News 
 and Press Releases. 
 Archive at www.dgap.de 
 
 
Language:      English 
Company:       PSI Software AG 
               Dircksenstraße 42-44 
               10178 Berlin 
               Germany 
Phone:         +49 (0)30 2801-0 
Fax:           +49 (0)30 2801-1000 
E-mail:        ir@psi.de 
Internet:      www.psi.de 
ISIN:          DE000A0Z1JH9 
WKN:           A0Z1JH 
Listed:        Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
                Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:   900311 
 
 
 
 
 
 
End of News  DGAP News Service 
 

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END

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October 30, 2019 05:04 ET (09:04 GMT)

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