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PSI Software AG PSI Increases Sales by 14 Percent in First Quarter

29/04/2019 9:06am

RNS Non-Regulatory


TIDM0KUR

PSI Software AG

29 April 2019

 
PSI Software AG / Key word(s): Quarter Results/Quarterly / Interim Statement 
 PSI Increases Sales by 14 Percent in First Quarter 
 
 29.04.2019 / 09:56 
 The issuer is solely responsible for the content of this announcement. 
 
 PSI Increases Sales by 14 Percent in First Quarter 
 - New orders with a record value of 97 million euros 
 - EBIT increased by 6 % to 3.0 million euros 
 - Integration of the smart grid business of BTC AG acquired on 1 JanuaryKPIs (TEUR)                1 Jan. - 31 March 2019  1 Jan. - 31 March 2018   Change 
 Sales                                      51,993                  45,745  +13.7 % 
 EBIT                                        2,952                   2,786   +6.0 % 
 Group EBIT                                  1,999                   1,921   +4.1 % 
 Earnings per share (EUR)                     0.13                    0.12   +8.3 % 
 
 
 PSI Group increased new orders by 4 % to the new record value of 97 million euros in the first 
 quarter of the year (31 March 2018: 93 million euros). The volume of orders on 31 March 2019 
 was therefore, at 184 million euros, 6 % above the figure for the previous year (31 March 
 2018: 174 million euros). Group sales improved by just about 14 % to EUR 52.0 million thanks 
 primarily to organic growth in the Production segment and the takeover in the Energy segment 
 (31 March 2018: 45.7 million euros). The EBIT increased by 6 % to 3.0 million euros (31 March 
 2018: 2.8 million euros), the group EBIT improved by 4 % to 2.0 million euros (31 March 2018: 
 1.9 million euros). 
 
 Energy management (energy grids, energy trading, public transportation) attained 13 % higher 
 sales of 25.3 million euros (31 March 2018: 22.4 million euros) and a constant EBIT of 1.1 
 million euros in the first quarter. The Smart Grid division of BTC AG in Germany, which was 
 taken over on 1 January 2019, has 143 employees and an incoming order volume of 5.2 million 
 euros, of which 3.2 million euros are annual maintenance extensions, external sales of 1.6 
 million euros and a burden of -1.1 million euros due to underutilization. This special charge 
 was offset by better results with PSI control systems for gas and electricity networks. The 
 underutilized, highly qualified employees were assigned to PSIcontrol customer projects and 
 will make an increasing productive contribution after familiarization from March to July. 
 The business with the acquired PRINS control system is expected to generate annual sales of 
 5 to 6 million euros with losses of up to 20 %, especially from the convergence development 
 Release 8. If necessary, the management will make further adjustments in the second half of 
 the year. In the gas network business PSI increased order intake, sales and earnings due to 
 the new upgrade subscription business and the recovery of the Russian business. 
 At 26.7 million euros, sales in production management (raw materials, metals, industry, logistics) 
 in the first three months were about 15 % over the figure for the previous year (31 March 
 2018: 23.3 million euros). The business' EBIT of 1.9 million euros was 9 % below the figure 
 for the previous year (31 March 2018: 2.1 million euros). In the metals business, which has 
 been experiencing uncertainty among European customers about customs duties and emissions 
 since summer 2018, PSI received a major order from the Chinese steel manufacturer HBIS Laoting 
 Steel. The Logistics business is enjoying another leap in incoming orders and sales based 
 on the products migrated to the group platform. In the further course of the year significantly 
 better results are expected from better economies of scale. In automotive and industry PSI 
 further increased incoming orders, sales and earnings with the Enterprise Resource Planning 
 (ERP), Production Order Management (POM) and Manufacturing Execution System (MES) migrated 
 to the group platform. On 1 May 2019 PSI Polska (164 employees) in Poznan will take over the 
 Polish Smart Grid division of BTC AG with 29 employees. 
 The number of employees in the group increased to 1,931 (31 March 2018: 1,701), due to net 
 909 new hires and the acquisition of the smart grid business of BTC AG. At 6.0 million euros, 
 cash flow from operating activities was slightly below the previous year's figure (31 March 
 2018: 6.3 million euros). Cash and cash equivalents increased to 45.0 million euros (31 March 
 2018: 42.6 million euros) and will be used for the proposed dividend payment and for sales 
 financing in the seasonal course. 
 In the coming quarters PSI expects a further increase in the high-margin license, maintenance, 
 upgrade and cloud business as well as a continuation of the positive order trend. For 2019, 
 the PSI Executive Board continues to expect sales growth of 10 % to 220 million euros and 
 an increase in the EBIT to 17 million euros. 
 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 more than 
 1,900 persons worldwide. www.psi.de 
 Contact 
 PSI Software AG 
 Karsten Pierschke 
 Head of Investor Relations and 
 Corporate Communication 
 Dircksenstrasse 42-44 
 10178 Berlin 
 Germany 
 Phone +49 30 2801-2727 
 Fax +49 30 2801-1000 
 Email: KPierschke@psi.de 
 
 
 29.04.2019 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:   804345 
 
 
 
 
 
 
End of News  DGAP News Service 
 
 
 
 

804345 29.04.2019

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