Ad-hoc | 28 February 2005 08:23

PSI Attains Balanced Operating Result in Fourth Quarter

Ad hoc announcement §15 WpHG Results PSI Attains Balanced Operating Result in Fourth Quarter Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— PSI Attains Balanced Operating Result in Fourth Quarter Operative cash flow improves in 2004 to 6.6 million euros The PSI Group had a balanced operating result in the fourth quarter of 2004 according to IFRS (Q4-2003: -0.24 million euros). Sales were 30.7 million euros, below the level for the previous year (Q4-2003: 38.8 million euros). The net result of -1.5 million euros in the fourth quarter (Q4-2003: -3.4 million euros) contains the interest for pension reserves and value adjustments on financial assets. Following a successful start in 2005 PSI expects a positive operating result despite the weak market in Information Management and Gas Management. The operating result for all of 2004 was -9.1 million euros (2003: -1.0 million euros) and the consolidated result -12.3 million euros (2003: -4.8 million euros). This contains 3.2 million euros in restructuring costs, 3.8 million euros write downs as well as burdens of 4.2 million euros, resulting from litigation with the State of Berlin. The consolidated sales were 115.2 million euros, 16% below the previous year (2003: 137.6 million euros), while new orders could be increased to 126 million euros (2003: 119 million euros). The cash flow from operations improved from -0.9 million euros to 6.6 million euros. For 2005, on the basis of new products as well as clear improvements of the cost structure and the risk profile, the management expects a continued positive contribution from the Production Management segment and a recovery in Network Management. PSI AG Karsten Pierschke Communications and Investor Relations Dircksenstraße 42-44 D-10178 Berlin Tel. +49 30 2801-2727 Fax +49 30 2801-1000 eMail: KPierschke@psi.de PSI Aktiengesellschaft Dircksenstraße 42-44 10178 Berlin Deutschland ISIN: DE0006968225 WKN: 696822 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart End of ad hoc announcement (c)DGAP 28.02.2005 280823 Feb 05