PSI Software SE

Earnings Release • Apr 28, 2010

News Details

Corporate | 28 April 2010 10:13

PSI experiences market recovery in the first quarter

PSI Aktiengesellschaft / Quarter Results

28.04.2010 10:13

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PSI experiences market recovery in the first quarter
- Consolidated sales increase by 21 % to 37.1 million Euros
- Incoming orders up 5 % to 44 million Euros
- Operating result rises to 1.8 million Euros

PSI Group has increased its earnings before interest, taxes, depreciation
and amortisation (EBITDA) in the first quarter of 2010 by 16% to 2.8
million Euros (31.03.2009: 2.4 million Euros) and its earnings before
interest and taxes (EBIT) by 3 % to 1.8 million Euros (31.03.2009: 1.7
million Euros). Consolidated earnings after interest and taxes dropped
slightly to 1.2 million Euros (31.03.2009: 1.3 million Euros), while
consolidated sales rose by 21 % to 37.1 million Euros (31.03.2009: 30.6
million Euros). Incoming orders were up 7 % compared to the same period
last year at 45 million Euros (31.03.2009: 42 million Euros), the order
backlog dropped to 105 million Euros (31.03.2009: 112 million Euros).

The Energy Management segment (electricity, gas, oil, heat) achieved 14 %
higher sales of 15.5 million Euros (31.03.2009: 13.6 million Euros). The
segment's operating result was further increased to 1.5 million Euros
(31.03.2009: 0.9 million Euros). Key domestic and export projects were
accepted and carried out in this segment. Following a limited number of
order placements in the previous year, PSI recorded an increase in demand
for intelligent network management solutions and expects further major
orders in the coming quarters.

At 15.5 million Euros, sales in the Production Management segment (raw
materials, industry, logistics) were up 7 % on the year (31.03.2009: 14.5
million Euros). The operating result dropped to 0.2 million Euros
(31.03.2009: 0.7 million Euros), falling considerably short of
expectations. The performance of the logistics subsidiary and non-recurrent
expenditure in this business had a particularly negative effect on the
segment. Once again, positive developments were recorded in the PSI Metals
division, in which all activities are continuing to be pooled under one
roof.

In Infrastructure Management (traffic, safety, telecommunications), which
the inControl Tech Group became a part of in 2009, sales more than doubled
to 6.1 million Euros (31.03.2009: 2.4 million Euros). The operating result
increased to 0.3 million Euros (31.03.2009: 0.2 million Euros). This
includes further investments in the newly founded Cellls GmbH in the first
half of 2010. The seasonal nature of Infrastructure Management was further
emphasised by inControl Tech Group. In the coming quarters, PSI expects
demand for infrastructure solutions and traffic systems to increase,
especially in South East Asia.

The number of Group employees as at 31.03.2010 increased to 1,398
(31.03.2008: 1,132) as a result of acquisitions in the previous year and
targeted new recruitments.

Over the past few months, PSI has observed a renewed increase in demand for
energy market solutions and increasing efficiency in heavy industry.
Management is expecting further growth drivers, especially in the Gulf
region as well as Germany and Europe, as a result of creating European
super grids and intelligent energy consumption control using smart grids.

PSI is confirming its annual targets for 2010 of 160 million Euros in sales
and an operating result of 10 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, mining, 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

Phone +49 30 2801-2727
Facsimile +49 30 2801-1000
E-Mail: KPierschke@psi.de

28.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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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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