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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 Stable New Orders and Sales in First Six Months

28/07/2020 8:06am

RNS Non-Regulatory


TIDM0KUR

PSI Software AG

28 July 2020

 
PSI Software AG / Key word(s): Half Year Results/Quarter Results 
 PSI with Stable New Orders and Sales in First Six Months 
 
 28.07.2020 
 The issuer is solely responsible for the content of this announcement. 
 
 PSI with Stable New Orders and Sales in First Six Months 
 - Sales of 104.9 million euros just slightly below previous year 
 - EBIT with minus 16.4% to 5.4 million euros within the forecast 
 - Operating cash flow increased by 20.7 million to 19.4 million eurosKPIs (TEUR)                1 Jan. - 30 June 2020  1 Jan. - 30 June 2019  Change 
 Sales                                    104,853                106,632   -1.7% 
 EBIT                                       5,413                  6,478  -16.4% 
 Group net income                           3,723                  4,384  -15.1% 
 Earnings per share (EUR)                    0.24                   0.28  -14.3% 
 
 
 Berlin, 28 July 2020 - The PSI Group, with 141 million euros, only just missed the record 
 volume of new orders of the previous year (30 June 2019: 142 million euros), despite the impacts 
 of the Corona virus crisis. The order book volume on 30 June 2020 was, at 176 million euros, 
 3% above the previous year (30 June 2019: 171 million euros). Group sales of 104.9 million 
 euros were also almost on a par with the previous year's figure (30 June 2019: 106.6 million 
 euros), although this year's sales are more strongly influenced by the energy segment. The 
 EBIT was, at 5.4 million euros, 16.4% below the previous year (30 June 2019: 6.5 million euros) 
 and thus in line with the forecast. Group net income fell by 15.1% to 3.7 million euros (30 
 June 2019: 4.4 million euros). 
 
 Energy Management (energy grids, energy trading, public transportation) achieved 4.4% higher 
 sales of 55.5 million euros (30 June 2019: 53.2 million euros) and about a 4% lower EBIT of 
 2.4 million euros (30 June 2019: 2.5 million euros) in the first six months. The BTC Smart 
 Grid segment acquired last year continued to contribute to the positive sales and result. 
 As anticipated, orders received from regions dependent on the oil price such as Russia, the 
 Middle East and Malaysia were weaker, but better in European industrial countries and North 
 America. 
 Sales in Production Management (metals production, industry, logistics) was in the first six 
 months, with 49.3 million euros, 7.7% below the previous year (30 June 2019: 53.4 million 
 euros). The EBIT for the segment dropped by more than 17% to 3.7 million euros (30 June 2019: 
 4.5 million euros). Like its customers, the automotive business, already burdened by the conversion 
 to electro mobility, even had to announce short-time work. In June, however, the regular business 
 with core customers recovered, primarily in the special-purpose vehicle and electric vehicle 
 sectors. The metals production business continued to suffer from the steel crisis in Europe, 
 which was exacerbated by Corona, but obtained a major contract from a US steel producer. The 
 rollout will partially be performed by the customer and its IT integration partner, which 
 underscores the success of PSI's partnering software platform with graphic process management 
 and PSI Click Design. In the logistics business, industrial logistics was weaker, but e-commerce 
 logistics was very strong, especially in Poland and Russia. The Corona crisis has made customers 
 aware again of the importance of robust supply chain design and flexible production and supply 
 chain management. The matching PSI products such as PSIglobal are in high demand. PSI is developing 
 a block-chain-based supply chain documentation function for the upcoming supply chain law. 
 The Group's headcount was reduced by 10 during the second quarter, but increased year-on-year 
 to 1,995 (30 June 2019: 1,947). After a hiring freeze lasting several months, PSI is rehiring 
 in the USA, Benelux, and Poland in particular but also in Germany. The cash flow from operations 
 increased by 20.7 million to 19.4 million euros (30 June 2019: -1.4 million euros). The cash 
 and cash equivalents of 50.4 million euros (30 June 2019: 31.4 million euros) will be used 
 to finance sales in the course of the season. Following the acquisition of Prognos Energy 
 GmbH in the second quarter, PSI is examining other acquisitions up to the double-digit millions 
 in the energy sector. 
 Good progress is being made with the multi cloud initiative for automatic provision of all 
 products based on the PSI platform across all marketable clouds (public, private, hybrid, 
 on premise). This "continuous integration" and "continuous delivery" will reduce the delivery 
 costs for conventional B2B projects. Furthermore, the first test customers and VAR integration 
 partners as well as some platform-based products (Production Planning ASM, Warehouse Management 
 WMS and Metals Virtual Factory) will be offered for use in a PSI multi-cloud as Software-as-a-Service. 
 Generic products for planning (ASM), steering (JSCADA), and time series (TSM) have already 
 been integrated in the initial product lines. The functionality and performance will be quickly 
 further developed. An initial major energy grid is being equipped with the new control system 
 JSCADA. The generic planning is already being applied in production control, in the scheduling 
 for field force personnel and in the pipeline/tank management. Metals production planning 
 is currently being renewed on the basis of ASM. The generic products are replacing previous 
 multi-developments and significantly improving partner capability, product attractiveness, 
 piece number effects, and therefore profitability. Customers and partners have reacted enthusiastically 
 to the adaptability of the PSI software with graphic business process modeling (BPM), PSI 
 Click Design for the user interfaces of applications (web as well) as well as the plug & play 
 software bus. 
 Numerous industrial customers seem to prepare for an economic catch-up in 2021 and are using 
 the Corona-induced production pause for digitizing their processes. Furthermore, there are 
 indications that the digressive depreciation in Germany for 2020 and 2021 might contribute 
 to a good final quarter. 
 PSI continues to profit from the trends in electro-bus promotion, flexibilization and documentation 
 of supply chains, e-commerce logistics, use of energy distribution grids for wide-ranging 
 transportation of renewable energy (DSO redispatch) and the expansion of the hydrogen infrastructure. 
 Due to the continued high level of orders, PSI management still anticipates a slight up to 
 5% decrease in sales and an up to 20% lower operating result for 2020 necessitated by Corona. 
 As the second quarter could already have been the low point of the crisis for PSI and the 
 signs toward recovery are continuing to be confirmed, PSI will make a decision on adjusting 
 its annual goals in fall. 
 Based on its own software products, PSI Group develops and integrates complete solutions for 
 optimizing the flow of energy and material for utilities (energy networks, energy trading, 
 public transport) and industry (metals production, automotive, mechanical engineering, logistics). 
 PSI was founded in 1969 and employs 2,000 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 
 
 
 28.07.2020 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:   1103437 
 
 
 
 
 
 
End of News  DGAP News Service 
 

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END

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July 28, 2020 03:06 ET (07:06 GMT)

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