Quarterly Report • Nov 17, 2017
Quarterly Report
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REPORT ON THE 3rd QUARTER OF 2017
| 01/01-30/09/17 in KEUR |
01/01-30/09/16 in KEUR |
Change in KEUR |
Change in % |
|
|---|---|---|---|---|
| Revenues | 133,052 | 127,861 | +5,191 | +4.1 |
| Operating Result | 8,186 | 6,920 | +1,266 | +18.3 |
| Result before income taxes | 7,535 | 6,450 | +1,085 | +16.8 |
| Net result | 4,563 | 3,900 | +663 | +17.0 |
| Cash and cash equivalents | 39,809 | 35,931 | +3,878 | +10.8 |
| Employees on 30 September | 1,650 | 1,632 | +18 | +1.1 |
| Revenue/Employee | 80.6 | 78.3 | +2.3 | +2.9 |
PSI Group increased new orders by 10 % to 147 million euros in the first nine months of the year (30 Sept. 2016: 134 million euros), the order backlog on 30 Sept. 2017 was, with 141 million euros, 7 % above the figure for the previous year (30 Sept. 2016: 132 million euros). The group sales increased as a result of growth in the industry and energy business by 4 % to 133.1 million euros (30 Sept. 2017: 127.9 million euros). The EBIT increased by 18 % to 8.2 million euros (30 Sept. 2016: 6.9 million euros), the group net result improved by 17 % to 4.6 million euros (30 Sept. 2016: 3.9 million euros).
Energy Management (energy networks, energy trading) achieved 5 % higher sales of 50.8 million euros (30 Sept. 2016: 48.3 million euros) in the first nine months, despite it being a regulatory "shadow year". The EBIT for the segment improved by 21 % to 4.2 million euros compared to the same period in the previous year (30 Sept. 2016: 3.5 million euros). Market leadership in the field of sector coupling (connection of electricity transition with the beginning of the transportation shift/electro-mobility and heat transition) has continued with another major contract. The multi-tenancy capability, proven in a major project, has resulted in new business potential for major network operators that are now able to offer smaller network operators "grid management as a service". Network operators are also joining together in cooperatives on the basis of this new technology. The Electrical Grid business has also won additional important contracts for upgrading and expansion and arranged a partnership in the North American market where the first two projects have already been implemented. The Gas and Oil business won an important new European customer in the field of gas transportation, the Energy Trading business improved both sales and results in the third quarter. In eight publically supported research projects, an algorithm has been developed to the point of being marketable. The algorithm aids in securing the dynamic stability of Germany's grids with the continued exit from nuclear power and fossil fuel power plants.
Sales in Production Management (raw materials, industry, logistics) increased by 7 % to 67.2 million euros (30 Sept. 2016: 63.0 million euros) during the first nine months. The EBIT was increased by 6 % to 5.5 million euros (30 Sept. 2016: 5.2 million euros). The business continued to profit from the very strong growth in the Internet order logistics, the establishment of additional electric-vehicle production plants and the end of the investment backlog in the steel industry. As expected, the Metals business obtained major contracts from regular Chinese customers in the third quarter. With the successful
migration of all products in the business to the new group java interface, PSI has been demonstrating increasing successes in sales, whereby the individual software products are ever more often being integrated into cross-corporate process chains. This also applies for the transportation and warehousing software on the java group platform for which one of Germany's largest logistics companies has decided and begun a series of major projects with an initial order.
In Infrastructure Management (transportation and safety) sales decreased by 9 % to 15.0 million euros (30 Sept. 2016: 16.5 million euros), the EBIT improved to –0.5 million euros (30 Sept. 2016: –0.9 million euros). The EBIT for the business was encumbered by almost one million euros in the third quarter by an out-of-court settlement in the framework of the collection of key payments from major market entry projects. The costs of the closure of the Chennai site in connection with capacity adjustments of the substation production impacted negatively on the earnings for the quarter. By contrast, the training of information scientists at the Malaysia site moved ahead well with the completion of two smart city projects and a number of IEC 61850 substation SCADA projects. The two-shifts-per-day development and testing procedure established on the basis of the group technology platform is now being extended to other tasks. Now that solar energy is becoming increasingly marketable, additional countries offer opportunities for PSI. More and more countries are extensively expanding solar energy, primarily for economic reasons and less so for reasons of climate protection.
The cash flow from operations was marked primarily by changes in the working capital and decreased to 0.6 million euros (30 Sept. 2016: 4.2 million euros). With 39.8 million euros, liquidity was still 11 % above the level of the previous year (30 Sept. 2016: 35.9 million euros), despite the higher dividend payment.
Compared to 31 December 2016, there have not been any material changes in the Group's assets.
The number of employees in the Group on 30 Sept. 2017 increased to 1,650 (30 Sept. 2016: 1,632). As in the first six months, the growth initiative in Europe contrasted with the capacity adjustments in Southeast Asia's hardware business.
The PSI stock ended the 3rd quarter of 2017 with a final price of 17.20 euros 41 % above the final 2016 price of 12.20 euros. In the same period the technology index TecDAX rose by 34.4 %.
The estimate of the corporate risk has not changed since the Annual Report for 31 December 2016.
Technologically, the group technology platform will be expanded in the next two quarters to support progressive web applications that allow for continued functionality with the aid of Angular 4, even when mobile connections are weak or even interrupted. A first major industrial customer in Mexico has already been successfully equipped. This technology is not only advantageous for mobile applications, but also within the company as a so-called thin-client web technology. This makes it possible to significantly reduce the IT department's maintenance costs for service to working places, thanks to private clouds. PSI realized this using the WORA principle (write once, run anywhere) so that the unique PSI Click Design user interface design can be used for web applications. In the fourth quarter, PSI will set up the hosting of an initial software-as-a-service for one of the first major highavailability cloud customers.
In general, the growing demand has continued in all the businesses. In the energy business, the decentralised generation of energy and electro-mobility have increased the need for more flexibility and intelligent, decentralised control of the distribution grids. In addition, the major German utilities, following company splits and restructurings, are beginning to focus on new, digital business models and areas of growth.
Despite the encumbrances from the reduction of market risks in Asia, the management continues to be optimistic that the EBIT target corridor of 12 to 15 million euros will be met in the middle or above. After major investments in technology, great attention is now being paid on driving growth. Should the new German government accelerate the shift in transport policy and the exit from coal, the strain on the electricity girds will continue to increase, which improves the long-term business prospects for PSI.
from 1 January 2017 until 30 September 2017 according to IFRS
| V=jçåíÜ=oÉéçêí= MNLMNJPMLMVLNT |
^ååì~ä=oÉéçêí= MNLMNJPNLNOLNS= |
|
|---|---|---|
| ^ëëÉíë= | hbro | hbro= |
| kçå=ÅìêêÉåí=~ëëÉíë= | ||
| Property, plant and equipment | 12,520 | 12,153 |
| Intangible assets | 55,801 | 57,751 |
| Investments in associates | 150 | 150 |
| Deferred tax assets | 8,477 | 8,663 |
| TSIVQU | TUITNT= | |
| `ìêêÉåí=~ëëÉíë= | ||
| Inventories | 8,375 | 6,421 |
| Trade accounts receivable, net | 26,174 | 27,466 |
| Receivables from long-term development contracts | 35,050 | 38,184 |
| Other current assets | 8,001 | 5,631 |
| Cash and cash equivalents | 39,809 | 43,008 |
| NNTIQMV | NOMITNM= | |
| qçí~ä=~ëëÉíë= | NVQIPRT | NVVIQOT= |
| bèìáíó= | ||
|---|---|---|
| Subscribed capital | 40,185 | 40,185 |
| Capital reserves | 35,137 | 35,137 |
| Reserve for own stock | –825 | –528 |
| Other reserves | –19,612 | –17,588 |
| Net retained profits | 19,192 | 18,068 |
| TQIMTT | TRIOTQ= | |
| kçåJÅìêêÉåí=äá~ÄáäáíáÉë= | ||
| Pension provisions and similar obligations | 51,350 | 52,037 |
| Deferred tax liabilities | 4,134 | 2,916 |
| RRIQUQ | RQIVRP= | |
| `ìêêÉåí=äá~ÄáäáíáÉë= | ||
| Trade payables | 11,555 | 12,553 |
| Other current liabilities | 33,098 | 30,919 |
| Liabilities from long-tem development contracts | 17,271 | 25,728 |
| Short-term financial liabilities | 2,872 | 0 |
| SQITVS | SVIOMM= | |
| qçí~ä=Éèìáíó=~åÇ=äá~ÄáäáíáÉë= | NVQIPRT | NVVIQOT= |
from 1 January 2017 until 30 September 2017 according to IFRS
| = | nì~êíÉêäó=oÉéçêí=fff= | V=jçåíÜ=oÉéçêí= | |||
|---|---|---|---|---|---|
| MNLMTLNTJ PMLMVLNT ======hbro |
MNLMTLNSJ PMLMVLNS ======hbro |
MNLMNLNTJ= PMLMVLNT= ======hbro= |
MNLMNLNSJ= PMLMVLNS= ======hbro= |
||
| Sales Revenues | 45,484 | 42,759 | 133,052 | 127,861 | |
| Other operating income | 1,542 | 698 | 4,574 | 4,102 | |
| Cost of materials | –7,263 | –5,946 | –18,030 | –18,388 | |
| Personnel expenses | –27,046 | –26,584 | –83,463 | –81,146 | |
| Depreciation and amortisation | –1.099 | –1,066 | –3,188 | –3,173 | |
| Other operating expenses | –9,116 | –7,475 | –24,759 | –22,336 | |
| léÉê~íáåÖ=êÉëìäí= | OIRMO | OIPUS | UINUS= | SIVOM= | |
| Net finance result | –343 | –327 | –651 | –470 | |
| oÉëìäí=ÄÉÑçêÉ=áåÅçãÉ=í~ñÉë= | OINRV | OIMRV | TIRPR= | SIQRM= | |
| Income tax | –639 | –573 | –2,972 | –2,550 | |
| kÉí=êÉëìäí= | NIROM | NIQUS | QIRSP= | PIVMM= | |
| Earnings per share (in Euro per share, basic) | 0.10 | 0.09 | 0.29 | 0.25 | |
| Earnings per share (in Euro per share, diluted) | 0.10 | 0.09 | 0.29 | 0.25 | |
| Weighted average shares outstanding (basic) | 15,635,018 | 15,604,847 | 15,635,018 | 15,604,847 | |
| Weighted average shares outstanding (diluted) | 15,635,018 | 15,604,847 | 15,635,018 | 15,604,847 |
from 1 January 2017 until 30 September 2017 according to IFRS
| MNLMTLNTJ PMLMVLNT ======hbro |
MNLMTLNSJ PMLMVLNS ======hbro |
MNLMNLNTJ= PMLMVLNT= ======hbro= |
MNLMNLNSJ= PMLMVLNS= ======hbro= |
|
|---|---|---|---|---|
| kÉí=êÉëìäí= | NIROM | NIQUS | QIRSP= | PIVMM= |
| Currency translation foreign operations | –606 | –1,279 | –2,024 | –616 |
| Net losses from cash flows hedges | 0 | 0 | 0 | 0 |
| Income tax effects | 0 | 0 | 0 | 0 |
| dêçìé=ÅçãéêÉÜÉåëáîÉ=êÉëìäí= | VNQ | OMT | OIRPV= | PIOUQ= |
from 1 January 2017 until 30 September 2017 according to IFRS
| V=jçåíÜ=oÉéçêí | V=jçåíÜ=oÉéçêí= | |
|---|---|---|
| MNLMNJPMLMVLNT hbro |
MNLMNJPMLMVLNS= hbro= |
|
^pecilt=colj=lmbo^qfkd=^qfsfqfbp= |
||
| oÉëìäí=ÄÉÑçêÉ=áåÅçãÉ=í~ñÉë= | TIRPR | SIQRM= |
| ^ÇàìëíãÉåíë=Ñçê=åçåJÅ~ëÜ=ÉñéÉåëÉë= | ||
| Amortisation on intangible assets | 1,257 | 1,211 |
| Depreciation of property, plant and equipment | 1,931 | 1,962 |
| Earnings from investments in associated companies | –142 | –146 |
| Interest income | –118 | –179 |
| Interest expenses | 681 | 939 |
| NNINQQ | NMIOPT= | |
| `Ü~åÖÉë=çÑ=ïçêâáåÖ=Å~éáí~ä= | ||
| Inventories | –2,091 | –3,231 |
| Trade receivables | 4,737 | 6,571 |
| Other current assets | –2,577 | –2,069 |
| Provisions | –1,014 | –1,423 |
| Trade payables | –1,069 | –4,009 |
| Other current liabilities | –6,652 | –166 |
| OIQTU | RIVNN= | |
| Interest paid | –72 | –137 |
| Income taxes paid | –1,773 | –1,536 |
| `~ëÜ=Ñäçï=Ñêçã=çéÉê~íáåÖ=~ÅíáîáíáÉë= | SPP | QIOPU= |
^pecilt=colj=fksbpqfkd=^qfsfqfbp= |
||
| Additions to intangible assets | –277 | –279 |
| Additions to property, plant and equipment | –2,298 | –1,839 |
| Cash inflow from disposals of associated companies | 0 | 0 |
| Interest received | 118 | 179 |
| `~ëÜ=Ñäçï=Ñêçã=áåîÉëíáåÖ=~ÅíáîáíáÉë= | ÓOIQRT | ÓNIVPV= |
^pecilt=colj=cfk^kfkd=^`qfsfqfbp= |
||
| Dividends paid | –3,439 | –3,277 |
| Proceeds/repayments from/of borrowings | 2,872 | –1,839 |
| Outflows for share buybacks | –297 | 0 |
| `~ëÜ=Ñäçï=Ñêçã=Ñáå~åÅáåÖ=~ÅíáîáíáÉë= | ÓUSQ | ÓRINNS= |
^pe=^ka=^pe=bnrfs^ibkqp= |
||
| ^q=qeb=bka=lc=qeb=mbofla= | ||
| `Ü~åÖÉë=áå=Å~ëÜ=~åÇ=Å~ëÜ=Éèìáî~äÉåíë= | ÓOISUU | ÓOIUNT= |
| s~äì~íáçåJêÉä~íÉÇ=ÅÜ~åÖÉë=áå=Å~ëÜ=~åÇ=Å~ëÜ=Éèìáî~äÉåíë= | ÓRNN | ÓUP= |
| `~ëÜ=~åÇ=Å~ëÜ=Éèìáî~äÉåíë=~í=ÄÉÖáååáåÖ=çÑ=íÜÉ=éÉêáçÇ= | QPIMMU | PUIUPN= |
| `~ëÜ=~åÇ=Å~ëÜ=Éèìáî~äÉåíë=~í=íÜÉ=ÉåÇ=çÑ=íÜÉ=éÉêáçÇ= | PVIUMV | PRIVPN= |
from 1 January 2017 until 30 September 2017 according to IFRS
| kìãÄÉê=çÑ= ëÜ~êÉë=áëëìÉÇ= |
pÜ~êÉ=Å~éáí~ä | ^ÇÇáíáçå~ä é~áÇJáå= Å~éáí~ä |
oÉëÉêîÉ=Ñçê íêÉ~ëìêó= ëíçÅâ |
líÜÉê= êÉëÉêîÉë |
^ÅÅìãìä~íÉÇ= êÉëìäíë= |
qçí~ä= | |
|---|---|---|---|---|---|---|---|
| kìãÄÉê= | hbro | hbro | hbro | hbro | hbro= | hbro= | |
| ^ë=çÑ=N=g~åì~êó=OMNS= | NRISMQIUQT= | QMINUR | PRINPT | ÓNINVP | ÓNPITTN | NOITVQ= | TPINRO= |
| Group comprehensive result after tax |
–3,817 | 8,551 | 4,734 | ||||
| Issue of own shares | 51,169 | 665 | 665 | ||||
| Dividends paid | –3,277 | –3,277 | |||||
| ^ë=çÑ=PN=aÉÅÉãÄÉê=OMNS= | NRISRSIMNS= | QMINUR | PRINPT | ÓROU | ÓNTIRUU | NUIMSU= | TRIOTQ= |
| Group comprehensive result after tax |
–2,024 | 4,563 | 2,539 | ||||
| Share buybacks | –24,885 | –297 | –297 | ||||
| Dividends paid | –3,439 | –3,439 | |||||
| ^ë=çÑ=PM=pÉéíÉãÄÉê=OMNT= | NRISPNINPN= | QMINUR | PRINPT | ÓUOR | ÓNVISNO | NVINVO= | TQIMTT= |
| pÜ~êÉë | léíáçåë= | |
|---|---|---|
| j~å~ÖÉãÉåí=_ç~êÇ= | ||
| Harald Fuchs | 6,023 | 0 |
| Dr. Harald Schrimpf | 68,800 | 0 |
| pìéÉêîáëçêó=_ç~êÇ= | ||
| Andreas Böwing | 0 | 0 |
| Elena Günzler | 1,427 | 0 |
| Prof. Dr. Uwe Hack | 0 | 0 |
| Prof. Dr. Wilhelm Jaroni | 0 | 0 |
| Uwe Seidel | 100 | 0 |
| Karsten Trippel | 111,322 | 0 |
| cáñÉÇ=êÉãìåÉê~íáçå hbro= |
s~êá~ÄäÉ=êÉãìåÉê~íáçå hbro= |
qçí~ä=êÉãìåÉê~íáçå= hbro= |
|
|---|---|---|---|
| Harald Fuchs | 236 | 75 | 311 |
| Dr. Harald Schrimpf | 287 | 90 | 377 |
| j~å~ÖÉãÉåí=_ç~êÇ=Ó=íçí~ä= | ROP= | NSR= | SUU= |
As the Supervisory Board payments for the current year are made in the 4th quarter, the current Supervisory Board did not obtain any remuneration in the first nine months of 2017. The former Supervisory Board member Bernd Haus, who retired on conclusion of the Annual General Meeting in May, received a pro-rata remuneration of 17 KEUR.
NK _ìëáåÉëë=^ÅíáîáíáÉë=~åÇ=iÉÖ~ä=_~ÅâÖêçìåÇ=
The business activities of PSI AG and its subsidiaries relate to the development and sale of software systems and products fulfilling the specific needs and requirements of its customers, particularly in the following industries and service lines: utilities, manufacturing, logistics, transport and safety. In addition, the Group provides services of all kinds in the field of data processing, sells electronic devices and operates data processing systems.
The PSI Group is divided into the three core business segments energy management, production management and infrastructure management. The company is listed in the Prime Standard segment of the Frankfurt stock exchange.
The company is exposed to a wide range of risks that are similar to other companies active in the dynamic technology sector. Major risks for the development of the PSI Group lie in the success with which it markets its software systems and products, competition from larger companies, the ability to generate sufficient cash flows for future business development as well as in individual risks regarding the integration of subsidiaries, organisational changes and the cooperation with strategic partners.
The condensed interim consolidated financial statements for the period from 1 January 2017 to 30 September 2017 were released for publication by a decision of the management on 27 October 2017.
The condensed interim consolidated financial statements for the period from 1 January 2017 to 30 September 2017 were produced in compliance with IAS 34 "Interim Financial Reporting". The condensed interim consolidated financial statements do not contain all the data and notes prescribed for the annual financial statements and should be read in conjunction with the consolidated financial statements for 31 December 2016.
With regard to the principles of accounting and valuation and especially the application of International Financial Reporting Standards (IFRS) see the group consolidated financial statements for the financial year 2016.
Seasonal effects resulted in the PSI Group operations with regards to the receipt of maintenance revenues in the first quarter of the financial year (deferment of the influences on the result of corresponding incoming payments throughout the year) and significantly greater demand and project accounting in the fourth quarter of the financial year.
Ü~åÖÉë=áå=íÜÉ=çåëçäáÇ~íáçå=dêçìé=Effective 28 February 2017 PSIAG Scandinavia AB, based in Karlstad, Sweden, was founded. The main focus of the company is the distribution of energy grid software and network management as a service in Scandinavia.
`~ëÜ=~åÇ=Å~ëÜ=Éèìáî~äÉåíë=
| PM=pÉéíÉãÄÉê=OMNT | PN=aÉÅÉãÄÉê=OMNS= | |
|---|---|---|
| hbro= | hbro= | |
| Bank balances | 36,643 | 40,269 |
| Fixed term deposits | 3,146 | 2,716 |
| Cash | 20 | 23 |
| PVIUMV | QPIMMU= |
`çëíë=~åÇ=Éëíáã~íÉÇ=É~êåáåÖë=áå=ÉñÅÉëë=çÑ=ÄáääáåÖë=çå=ìåÅçãéäÉíÉÇ=Åçåíê~Åíë=
Costs and estimated earnings in excess of billings on uncompleted contracts arise when revenues have been recorded but the amounts cannot be billed under the terms of the contracts. Such amounts are recoverable from customers upon various measures of performance, including achievement of certain milestones, completion of specified units or completion of the contract. Costs and estimated earnings contain directly allocable costs (labour cost and cost of services provided by third parties) as well as the appropriate portion of overheads including pro rata administrative expenses.
| PM=pÉéíÉãÄÉê=OMNT | PN=aÉÅÉãÄÉê=OMNS= | |
|---|---|---|
| hbro= | hbro= | |
| Costs incurred on uncompleted contracts | 98,730 | 88,946 |
| Profit shares | 20,443 | 15,963 |
| `çåíê~Åí=êÉîÉåìÉ= | NNVINTP= | NMQIVMV= |
| Payments on account | –101,394 | –92,453 |
| Set off against contract revenue | –84,123 | –66,725 |
| Receivables from long-term construction contracts | 35,050 | 38,184 |
| Liabilities from long-term construction contracts | 17,271 | 25,728 |
The sales revenues reported in the group income statement break down as follows:
| PM=pÉéíÉãÄÉê=OMNT | PM=pÉéíÉãÄÉê=OMNS= | |
|---|---|---|
| hbro= | hbro= | |
| Software development | 74,502 | 72,308 |
| Maintenance | 41,208 | 38,062 |
| License fees | 7,500 | 10,205 |
| Merchandise | 9,842 | 7,286 |
| NPPIMRO | NOTIUSN= |
The main components of the income tax expenditure shown in the group income statement are added as follows:
| PM=pÉéíÉãÄÉê=OMNT hbro= |
PM=pÉéíÉãÄÉê=OMNS= hbro= |
|
|---|---|---|
| Effective taxes expenses | ||
| Effective tax expenses | –1,570 | –1,137 |
| Deferred taxes | ||
| Emergence and reversal of | ||
| temporary differences | –1,402 | –1,413 |
| q~ñ=ÉñéÉåëÉë= | ÓOIVTO | ÓOIRRM= |
The development of the segment results can be found in the Group segment reporting.
To the best of our knowledge, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the group, and the interim management report of the group includes a fair review of the group's development and performance of its position, together with a description of the principal opportunities and risks associated with the expected development of the group in the remaining months of the financial year, in accordance with proper accounting principles of interim consolidated reporting.
from 1 January 2017 until 30 September 2017 according to IFRS
| båÉêÖó= mêçÇìÅíáçå= fåÑê~ëíêìÅíìêÉ= |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| j~å~ÖÉãÉåí= | j~å~ÖÉãÉåí= | j~å~ÖÉãÉåí= | oÉÅçåÅáäá~íáçå | mpf=dêçìé= | ||||||
| PMLMVL= OMNT= hbro= |
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PMLMVL OMNT hbro |
PMLMVL OMNS hbro |
PMLMVL OMNT hbro |
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|
| p~äÉë=êÉîÉåìÉë= | = | = | ||||||||
| Sales to external | ||||||||||
| customers | 50,845 48,281 | 67,236 | 63,042 | 14,971 | 16,538 | 0 | 0 133,052 127,861 | |||
| Inter-segment sales | 2,516 | 792 | 1,633 | 1,602 | 4,740 | 4,349 | –8,889 | –6,743 | 0 | 0 |
| pÉÖãÉåí=êÉîÉåìÉë= | RPIPSN QVIMTP SUIUSV SQISQQ NVITNN OMIUUT ÓUIUUV ÓSITQP NPPIMRO=NOTIUSN= | |||||||||
| léÉê~íáåÖ=êÉëìäí== ÄÉÑçêÉ=áåíÉêÉëíI=í~ñI= ÇÉéêÉÅá~íáçå=~åÇ= ~ãçêíáë~íáçå |
RIRVU= QITNP | SIUTM | SIRSO | ÓNMP | ÓPPS | ÓVVN | ÓUQS | NNIPTQ= NMIMVP= | ||
| léÉê~íáåÖ=êÉëìäí= ÄÉÑçêÉ=ÇÉéêÉÅá~íáçå= ~åÇ=~ãçêíáë~íáçå= êÉëìäíáåÖ=Ñêçã= éìêÅÜ~ëÉ=éêáÅÉ= ~ääçÅ~íáçå= |
QIOUR= PIRQO | RIVMV | RITNM | ÓRMO | ÓUST ÓNIMQV | ÓVMS | UISQP= | TIQTV= | ||
| Depreciation and amortisation resulting from purchase price |
||||||||||
| allocation | –64 | –64 | –393 | –495 | 0 | 0 | 0 | 0 | –457 | –559 |
| léÉê~íáåÖ=êÉëìäí= | QIOON= PIQTU | RIRNS | RIONR | ÓRMO | ÓUST ÓNIMQV | ÓVMS | UINUS= | SIVOM= | ||
| Net finance result | –138 | 54 | –252 | –395 | –365 | –129 | 104 | 0 | –651 | –470 |
| oÉëìäí=ÄÉÑçêÉ== áåÅçãÉ=í~ñÉë= |
QIMUP= PIRPO | RIOSQ | QIUOM | ÓUST | ÓVVS | ÓVQR | ÓVMS | TIRPR= | SIQRM= |
| 30 October 2017 | Report on the 3rd Quarter of 2017 |
|---|---|
| 22 March 2018 | Publication of Annual Result 2017 |
| 22 March 2018 | Analyst Conference |
| 26 April 2018 | Report on the 1st Quarter of 2018 |
| 16 May 2018 | Annual General Meeting |
| 26 July 2018 | Report on the 1st Six Months of 2018 |
| 31 October 2018 | Report on the 3rd Quarter of 2018 |
| November 2018 | German Equity Forum, Analyst Presentation |
vçìê=fåîÉëíçê=oÉä~íáçåë=Åçåí~ÅíW=
Karsten Pierschke
| Phone: | +49 30 2801-2727 |
|---|---|
| Fax: | +49 30 2801-1000 |
| E-Mail: | [email protected] |
We will be happy to include you in our distribution list for stockholder information. Please contact us should you require other information material.
For the latest IR information, please visit our website at www.psi.de/ir.
PSI Software AG
Dircksenstraße 42-44 10178 Berlin Germany Phone: +49 30 2801-0 Fax: +49 30 2801-1000 [email protected] www.psi.de
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