Corporate | 28 October 2009 09:57
PSI Aktiengesellschaft / Quarter Results
28.10.2009
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PSI increases sales and profit in the first nine months of the year
- Group net result increased by 39 percent to 3.8 million Euros
- Sales up by 9 percent to 100.1 million Euros
- An upturn of orders and an increase in profit is expected for the 4th
quarter of 2009
The PSI Group has increased its operating result (EBIT) in the first nine
months of 2009 by 9 percent to 4.65 million Euros in comparison to the
previous fiscal year (30 September 2008: 4.18 million Euros). The group net
result was enhanced by 39 percent to 3.8 million Euros (30 September 2008:
2.8 million Euros) and group sales rose by 9 percent to 100.1 million Euros
(30 September 2008: 92.0 million Euros). The volume of new orders at 115
million Euros was slightly below that of the previous year (30 September
2008: 119 million Euros) and order backlog increased by 10 percent to 116
million Euros (30 September 2008: 105 million Euros).
The segment of Energy Management (electricity, gas, oil, heating, water)
attained 11 percent more sales at 43.5 million Euros (30 September 2008:
39.3 million Euros); with an operating profit of 3.0 million Euros, this
segment delivered the largest contribution to operating income (30
September 2008: 2.5 million Euros). In particular, the sectors of
electrical energy and gas/oil were again the most prolific towards these
earnings. The energy trading and distribution systems produced improved
earnings results as well, despite non-recurrent expenses in previous
quarters due to the product convergence.
Sales in the Production Management segment (industry, logistics) were 4
percent higher than last year at 43.5 million Euros (30 September 2008:
41.9 million Euros). Operating result was almost the same as the year
before, in spite of the economic situation and higher write-offs, at 1.7
million Euros (30 September 2008: 1.7 million Euros). The industrial
sectors of metal production and mining above all developed positively while
the recognition of license revenues from the sectors manufacturing and
logistics was shifted partially into the fourth quarter.
Infrastructure Management (transportation, safety, telecommunications) saw
an increase of 21 percent to 13.1 million Euros (30 September 2008: 10.8
million Euros). Operating profit of 0.3 million Euros was slightly more
than the previous year (30 September 2008: 0.2 million Euros). Subsidiaries
in the growth markets of Poland and Southeast Asia were the main
contributors in infrastructure management, whereas development expenditures
for the new group communications system for mobile telephone networks
continued to exist.
The number of employees went up as of 30 September 2009 to 1,387 (30
September 2008: 1,109), primarily due to the acquisition of inControl Tech
in May and the AIS Group in August.
Incoming orders in the Energy Management sector were significantly lower in
the third quarter as opposed to the previous year, which was characterised
by quite large individual orders. Processing very large order backlogs
particularly improves the situation in meeting deadlines for demanding
projects in the export business. The specialist teams in the Smart Grids
business are to be reinforced since PSI expects larger orders in this
segment for the fourth quarter. Orders received for Production Management
were slightly higher than last year and orders received for Infrastructure
Management were significantly higher than last year. The number of incoming
orders for the entire fiscal year is expected to be as high as that of last
year's strong performance.
The management of PSI expects a fourth quarter EBIT increase to achieve a
record-high of about 3 million Euros. Due to anticipated expenses for the
accelerated convergence of Java software platforms and costs in the Smart
Watts research project, operating earnings (EBIT) are estimated for the
entire fiscal year to be somewhat less than 8 million Euros, slightly less
than previous forecasts. These previous prognoses can be however achieved
when pending placements of orders are positively processed by year's end,
and indeed can be surpassed by up to 3 million Euros.
PSI AG develops and integrates complete solutions, on the basis of its own
software products, for the management of energy networks (electricity, gas,
oil, heat, water), cross-company production management (metals, automotive,
mechanical and plant engineering, logistics) and infrastructure management
for telecommunications, transport and safety. PSI was founded in 1969 and
employs 1,400 persons in the group. www.psi.de
PSI AG
Karsten Pierschke
Communications and Investor Relations
Dircksenstraße 42-44
10178 Berlin
Germany
Tel. +49 30 2801-2727
Fax +49 30 2801-1000
E-Mail: KPierschke@psi.de
28.10.2009 Financial News transmitted by DGAP
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Language: English
Company: PSI Aktiengesellschaft
Dircksenstraße 42-44
10178 Berlin
Deutschland
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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
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