Corporate | 28 October 2011 09:03
PSI Aktiengesellschaft / Key word(s): Quarter Results
28.10.2011 / 09:03
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PSI Still with Strong Industry Business after Nine Months
- Group's new orders increased by 13 % to 138 million Euros
- Group sales increased by 3 % to 117.3 million Euros
- EBIT improved by 16 % to 6.3 million Euros
PSI Group increased its EBIT in the first nine months of 2011 by 16 % to
6.3 million Euros (30 September 2010: 5.4 million Euros). The EBT increased
by 22 % to 5.1 million Euros compared to the previous year (30 September
2010: 4.1 million Euros), the Group earnings after interest and taxes were,
as a result of temporary effects from deferred taxes, at 3.4 million Euros
slightly below the previous year (30 September 2010: 3.6 million Euros).
Group sales increased by 3 % to 117.3 million Euros compared to the
previous year (30 September 2010: 113.5 million Euros), the volume of new
orders increased by 13 % to 138 million Euros (30 September 2010: 122
million Euros). The Group's new orders and sales last year each contained
4.5 million Euros from the telecommunications business, which in the
meantime has been sold.
Energy Management (electricity, gas, oil, heat) attained 4 % higher sales
of 47.0 million Euros in the first nine months (30 September 2010: 45.1
million Euros). The EBIT decreased as a result of the continued high
project expenses in exports and investments in systems for electrical
distribution grids to 3.1 million Euros (30 September 2010: 4.7 million
Euros). In the field of electrical distribution many grid operators are in
the midst of a planning phase as a result of regulatory changes so that
increasing investments are expected in the course of 2012.
Sales in Production Management (raw materials, industry, logistics)
increased by 15 % to 56.1 million Euros in the first nine months (30
September 2010: 48.7 million Euros). The EBIT increased significantly to
3.6 million Euros (30 September 2010: 0.2 million Euros). The improvement
in the EBIT was primarily due to the sequence optimisation and logistics
businesses. With a first order, the area of raw materials excavation
managed to gain entry to the Asian market.
In Infrastructure Management (transportation and security), sales decreased
by 28 % to 14.2 million Euros (30 September 2010: 19.7 million Euros) as a
result of the sale of the telecommunications business at the end of last
year. The EBIT for the segment decreased by 23 % to 1.0 million Euros (30
September 2010: 1.3 million Euros). In this segment PSI expects sales and
profit increases in the fourth quarter as a result of the high order
backlog in Southeast Asia.
The number of employees in the Group increased as of 30 September 2011 to
1,466 (30 September 2010: 1,407), the order backlog in the Group increased
to 124 million Euros compared to the previous year (30 September 2010: 122
million Euros). The cash flow from operating activities improved by 35 % to
6.6 million Euros (30 September 2010: 4.9 million Euros), so that liquid
funds rose to 29.6 million Euros (30 September 2010: 18.9 million Euros).
PSI pushed the divisionalisation and improvement of the product character
in the Electrical Energy business in the third quarter. With the new
product version, whose completion is planned for the end of the year, the
associated upgrade and update process will be improved and the maintenance
ratio increased. Consequently, PSI will be able to profit from the
increased investment needs for smart grid control as a result of the energy
shift in Germany starting in 2012.
The current insecurity in the field of electrical networks in Germany and
the market entry costs in Asia have caused the PSI management to reduce the
expectations for the EBIT to a range of 10 to 11 million Euros. The
management continues to assume that the goals of 185 million Euros for new
orders and 170 million Euros for Group sales will be achieved. For 2012,
PSI expects further growth and a significant improvement of the margin.
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), production management (metals, automotive, mechanical
engineering, mining, logistics) and infrastructure management for transport
and safety. PSI was founded in 1969 and employs more than 1.450 persons in
the group. www.psi.de
Contact:
PSI AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communications
Dircksenstraße 42-44
10178 Berlin, Germany
Phone +49 30 2801-2727
Facsimile +49 30 2801-1000
E-Mail: KPierschke@psi.de
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Language: English
Company: PSI Aktiengesellschaft
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: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
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