26.07.2018 09:41:47
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DGAP-News: PSI with 8 % Increase in Sales in First Six Months
DGAP-News: PSI Software AG / Key word(s): Half Year Results/Quarter Results PSI with 8 % Increase in Sales in First Six Months
PSI Group increased its new orders by 22 % to 135 million euros in the first six months of 2018 (30 June 2017: 111 million euros). The order book volume on 30 June 2018 was, with 165 million euros, 11 % above the value for the previous year (30 June 2017: 148 million euros). The group sales improved by 8 % to 94.6 million euros (30 June 2017: 87.6 million euros), primarily as a result of the strong growth in the electrical grids business. The EBIT increased by 8 % to 6.2 million euros (30 June 2017: 5.7 million euros), the group net result improved by 41 % to 4.3 million euros (30 June 2017: 3 million euros) as a result of significantly improved financial earnings and lower deferred taxes. Sales in Production Management (raw materials, industry, logistics), which as of the first quarter also includes the Polish business, were, with 47.6 million euros, 4 % (first quarter -1 %, second quarter +10 %) above the figure for the previous year (30 June 2017: 45.7 million euros). The EBIT improved slightly to 4.3 million euros (30 June 2017: 4.2 million euros). In the metal industry, PSI management expects increased new orders from shifting production as a result of the new tariffs as well as investments in quality and is therefore doubling the size of the team in the USA. The automotive and mechanical engineering business completed demanding development jobs in the first six months, amongst which were the pilot developments for the production planning system that was migrated to the PSI Java platform, the integration of the sequential optimization and the new Business Process Management (BPM) based production control for the e.GO mobile electrical vehicles. Logistics won a major airport logistics contract and invested in an expansion of capacity. By moving into a building that allows for growth, the EBIT was slightly encumbered by the costs of moving and lost working hours. To take advantage of the boom in Internet trading that is occurring not only in Germany and Poland, the logistics sales and services are also being expanded to the PSI sites in Great Britain and Southeast Asia. The number of employees on 30 June 2018 had increased to 1,722 (30 June 2017: 1.626). The focus on new hires was again in Germany and other industrialized countries in Europe and North America. The cashflow from normal operations was characterized by the changes in the working capital and improved significantly to 5.0 million euros (30 June 2017: -5.7 million euros). Despite the higher dividend, liquidity increased slightly to 35.8 million euros (30 June 2017: 34.6 million euros). PSI continues to be interested in manageable and suitable acquisitions. The transformation to a product-upgrade-based business model and the rollout of the PSI Java platform made progress in the second quarter. PSI invested in open-source, powerful and inexpensive databases (PostgreSQL), to become more independent and increase margins. With the investment in the expansion of capacity and in view of the current general conditions, the PSI board expects sales of 200 million euros for 2018. Although one-off costs in sales (prototypes) and in development (support of US standards) must be accomplished, the board corroborated the expectations of an EBIT of more than 15 million euros. On the basis of its own software products, 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 1.700 persons worldwide. www.psi.de Contact PSI Software AG Phone +49 30 2801-2727
26.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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 |
End of News | DGAP News Service |
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708107 26.07.2018
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