PSI Software SE

Earnings Release • Jul 30, 2010

News Details

Corporate | 30 July 2010 10:11

PSI Accelerates Growth in First Half of 2010

PSI Aktiengesellschaft / Half Year Results

30.07.2010 10:11

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PSI Accelerates Growth in First Half of 2010
- New orders increase by 9 % to 93 million Euros
- Group sales increase by 18 % to 77.1 million Euros
- EBITDA increases by 19 % to 5.8 million Euros

The PSI Group increased its EBITDA by 19 % to 5.8 million Euros (30 June
2009: 4.8 million Euros) and the EBIT by 6 % to 3.7 million Euros (30 June
2009: 3.5 million Euros) for the first six months of 2010. The Group net
result was, at 2.2 million Euros, below that of the previous year (31 June
2009: 2.6 million Euros), as a result of the temporary effect of higher
deferred taxes. Group sales increased by 18 % to 77.1 million Euros (30
June 2009: 65.3 million Euros). The volume of new orders increased compared
to the same period of last year by 9 %to 93 million Euros (30 June 2009: 85
million Euros); the order backlog was, at 114 million Euros 4 % below that
of the previous year (30 June 2009: 119 million Euros), but did increase by
9 million Euros compared to 31 March 2010.

The Energy Management segment (electricity, gas, oil, heat) achieved 6 %
higher sales totalling 30.4 million Euros (30 June 2009: 28.8 million
Euros). The segment's EBIT was also increased to 3.1 million Euros (30 June
2009: 1.9 million Euros). Important export orders have been attained in
Europe and Asia in this segment. For the second half year PSI expects
continued high demand in the domestic market for solutions for intelligent
network management and additional major export contracts.

Sales in the Production Management segment (raw materials, industry,
logistics) for the first six months of this year were, at 32.9 million
Euros, 9 % above the level of the previous year (30 June 2009: 30.1 million
Euros). The EBIT decreased to 0.4 million Euros (30 June 2009: 1.4 million
Euros) und was therefore clearly below expectations. The segment was
primarily encumbered by investments in the new PSImining product, one-off
expenses in the logistics business in the first quarter and higher
write-offs from purchase price allocation. The business unit PSI Metals
continued to develop positively despite increased expenditure in
non-ferrous metals.

In Infrastructure Management (transportation, security,
telecommunications), to which the inControl Tech Group has belonged since
2009, sales more than doubled to 13.8 million Euros (30 June 2009: 6.4
million Euros). The EBIT increased to 0.5 million Euros (30 June 2009: 0.3
million Euros) despite write-offs from purchase price allocations. These
included investments in the first half of 2010 in the newly founded Cellls
GmbH. Important infrastructure and transportation projects were attained in
the first six months of 2010, primarily in Southeast Asia. PSI expects
continued high great demand from this region in the upcoming quarters.

With the new acquisitions and targeted recruitment, the number of Group
employees increased as of 30 June 2010 to 1,400 (30 June 2009: 1,256).

Since the beginning of the year, PSI has registered a renewed demand for
solutions for the energy markets as well as in the increasing of efficiency
in heavy industry. In the coming quarter the management expects major
contracts in the Golf region and continued growth stimuli in Germany and
Europe through the development of European super grids and the intelligent
energy consumption control through smart grids. The first PSI control
system with extended functions for a virtual power plant is currently
being taken in operation by a German customer.

In view of these circumstances, PSI is affirming the annual target of 160
million Euros in sales and at least 10 million Euros for the EBIT.

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

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

30.07.2010 Ad hoc announcement, Financial News and Press 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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