PSI Software SE

Earnings Release • Jul 28, 2011

News Details

Corporate | 28 July 2011 09:02

PSI on the move to the energy change

PSI Aktiengesellschaft / Key word(s): Quarter Results

28.07.2011 / 09:02

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PSI on the move to the energy change
- New orders increase by 4 % to 97 million Euros
- Group sales constant at 76.2 million Euros
- EBIT increases by 4 % to 3.8 million Euros

PSI Group increased its EBIT by 4 % to 3.8 million Euros in the first six
months of 2011 (30 June 2010: 3.7 million Euros). The EBT increased
compared to the same period for the previous year by 5 % to 3.0 million
Euros (30 June 2010: 2.8 million Euros), at 1.9 million Euros the group net
earnings after interest and taxes were, as a result of deferred taxes,
below the value for the previous year (30 June 2010: 2.2 million Euros).
Group sales were about constant at 76.2 million Euros (30 June 2010: 77.1
million Euros). The volume of new orders increased over the same period for
the previous year by 4 % to 97 million Euros (30 June 2010: 93 million
Euros).

Energy Management (electricity, gas, oil, heat, water) achieved 4 % higher
sales of 31.7 million Euros (30 June 2010: 30.4 million Euros). The EBIT
decreased as a result of high project costs and investments in systems for
electrical distribution grids in Germany and particularly in exports to 2.6
million Euros (30 June 2010: 3.2 million Euros). PSI is preparing itself
for the expected greater demand in Germany resulting from the change its
energy policy. The gas and oil business and the business with systems for
rail electricity and electrical transmission networks continue to develop
very well.

Sales in Production Management (raw materials, industry, logistics) were,
at 35.8 million Euros, 9 % above the value for the previous year (30 June
2010: 32.9 million Euros). The EBIT increased to 1.7 million Euros (30 June
2010: 0.4 million Euros). PSI expects further increases in sales and
profitability in this segment as a result of follow-up contracts for the
raw materials extraction control system.

In Infrastructure Management (transportation and security) sales decreased
by 37 % to 8.7 million Euros (30 June 2010: 13.8 million Euros) as a result
of the sale of the telecommunications business at the end of the year and a
new procurement behaviour in Europe resulting from new prerequisites for
subsidies. As in the previous year the segment had an EBIT of 0.5 million
Euros. In this segment PSI was awarded major contracts in Southeast Asia in
the first six months of this year, which will lead to increases in sales
and EBIT in the second half of the year.

The number of employees in the Group increased as of 30 June 2011 to 1,441
(30 June 2010: 1,400), the order book volume in the Group increased
significantly compared to the previous year to 125 million Euros (30 June
2010: 114 million Euros). The cash flow from operating activities also
improved significantly to 1.8 million Euros (30 June 2010: -2.7 million
Euros), so that the liquid funds rose to 26.1 million Euros (30 June 2010:
13.5 million Euros).

In the first six months, PSI continued to invest in products for the
upcoming technical revolution in the medium and low-voltage grids of
distribution grid operators. It is expected that customers will be making
significant increases in investments in smart grid control in the coming
years. PSI is working on continued improvements of quarterly results
through better management of the corresponding pre-development and
marketing costs.

As a consequence of the high volume of new orders in the fourth quarter of
2010 and the first quarter of 2011, PSI expects to have a strong second six
months in 2011. On the basis of higher license earnings and an expansion of
business in Eastern Europe, the management expects to achieve the year's
goal of an EBIT of 13 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 transport and safety. PSI was founded in 1969 and employs
1,400 persons in the group. www.psi.de

Contact person:

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

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

End of News DGAP News-Service

133471 28.07.2011