PSI Software SE

Earnings Release • Oct 29, 2013

News Details

Corporate | 29 October 2013 09:16

PSI with One-off Expenditures and Increase in Sales in Third Quarter

PSI Aktiengesellschaft / Key word(s): Quarter Results

29.10.2013 / 09:16

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PSI with One-off Expenditures and Increase in Sales in Third Quarter
- Group sales increase by 2% to 129.1 million Euros
- New orders, with 143 million Euros, 11% higher than sales
- EBIT, at 0.8 million Euros, well below previous year due to one-off
expenditures
- Cash flow from operating activities improves by 1.6 million Euros to -2.8
million Euros

PSI Group improved its sales in the first nine months of 2013 by 2% to
129.1 million Euros (30 Sept. 2012: 126.7 million Euros). The EBIT
decreased, as previously announced in September, to 0.8 million Euros (30
Sept. 2012: 7.5 million Euros) as a result of one-off expenditures. The
group net result dropped significantly to -2.8 million Euros (30 Sept.
2012: 5.5 million Euros). Along with the operative one-off encumbrances,
this also includes high deferred taxes and a one-off tax expenditure of 0.6
million Euros resulting from probable dissipation of losses carried forward
from the short-term shareholding of above 25% in PSI AG by an investor in
2009. The volume of new orders, at 143 million Euros, was approximately
equivalent to the level of the previous year (30 Sept. 2012: 145 million
Euros), the order book volume on 30 September decreased to 124 million
Euros (30 Sept. 2012: 132 million Euros).

Energy Management (gas, oil, electricity, heat, energy trading) attained 3%
lower sales of 43.1 million Euros in the first nine months (30 Sept. 2012:
44.5 million Euros). The segment's EBIT was, at -1 million Euros,
significantly below the result for the previous year (30 Sept. 2012: 2.1
million Euros). The gas and oil business confirmed the good results of the
previous quarters; the energy trading systems business was able to continue
to improve its result. The electrical energy business continues to suffer
under the investment backlog in energy grids and was also encumbered by a
value adjustment of 0.8 million Euros from a latent risk from 2009 and
increased one-off expenditures for the development of an energy management
system for rail electricity.

Sales in Production Management (raw materials, industry, logistics) were,
at 63.3 million Euros in the first nine months, slightly below those of the
previous year (30 Sept. 2012: 64.2 million Euros). The EBIT decreased to
0.3 million Euros (30 Sept. 2012: 4.5 million Euros) as a result of the
development of a transportation management system for logistics service
providers. The good development continued especially in the metals industry
business, while PSI Logistics encumbered the segment with higher
development costs. In the metals industry, PSI profited from the strong
market position and the reduced energy costs from shale gas that have
resulted in significant investments in the steel and aluminium industry in
the USA.

Infrastructure Management (transportation and security) increased sales by
26% to 22.7 million Euros (30 Sept. 2012: 18 million Euros). The EBIT for
the segment increased by 22% to 2.4 million Euros (30 Sept. 2012: 2 million
Euros). Activities in Southeast Asia and Poland again served as the drivers
of both sales and profits.

The number of employees in the Group increased to 1,701 (30 Sept. 2012:
1,577) as of 30 Sept. 2013 due to the expansion of capacity in the export
markets. Cash flow from operating activities improved by 36% to -2.8
million Euros (30 Sept. 2012: -4.4 million Euros). Liquidity decreased as a
result of, amongst other things, the repayment of a short-term loan and by
the 0.8 million Euros higher dividend to 21.5 million Euros (30 Sept. 2012:
24.2 million Euros).

In the third quarter PSI invested significantly in an energy management
system for rail electricity and a transportation management system for
logistics providers. The pilot orders have required a faster investment
tempo than originally planned. In particular a business process management
(BPM) is being developed that should be integrated throughout the Group in
PSI software so as to significantly reduce the costs in the adaption of the
business processes in standard software to the customers' needs. The
Management Board projects a positive result of 4.5 million Euros for the
fourth quarter of 2013 so that an EBIT of only 5.2 million Euros is
expected for the entire year.

On the basis of its own software products, PSI AG develops and integrates
complete solutions for energy management (gas, oil, electricity, heat,
energy trading), production management (mining, metals, automotive,
mechanical engineering, logistics) and infrastructure management for
transport and safety. PSI was founded in 1969 and em-ploys 1,700 persons
worldwide. www.psi.de

PSI AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communication
Dircksenstraße 42-44
10178 Berlin
Deutschland

Tel. +49 30 2801-2727
Fax +49 30 2801-1000
E-Mail: KPierschke@psi.de

End of Corporate News

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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
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart

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