DGAP-News: PSI Increases Sales by 13 Percent in the First Nine Months
DGAP-News: PSI Software AG
/ Key word(s): 9 Month figures/Quarter Results
PSI Increases Sales by 13 Percent in the First Nine Months
PSI Group improved sales in the first nine months of 2019 by just under 13 % to 159.7 million euros (30 Sept. 2018: 141.6 million euros) through organic growth in the two segments and 5.5 million euros sales from the acquisition in the energy sector. The EBIT increased by 5 % to 10.5 million euros (30 Sept. 2018: 10.0 million euros), the group net result increased by 4 % to 7.1 million euros (30 Sept. 2018: 6.9 million euros) despite poorer financial results as a consequence of the application of IFRS 16. New orders were increased by 3 % to 182 million euros. The 176 million euros of the previous year's period included 11.4 million euros in major orders from the public transport sector. The order book volume on 30 Sept. 2019 was, at 156 million euros slightly below the figure for the previous year (30 Sept. 2018: 159 million euros). Sales in Production Management (raw materials, metal, industry, logistics) was, at 78.7 million euros, 8 % above the value for the previous year in the first nine months (30 Sept. 2018: 72.6 million euros). The EBIT improved by 7 % to 7.0 million euros (30 Sept. 2018: 6.6 million euros). With good business in America and China, metals business continues to manage to keep new orders, sales and earnings more or less constant despite the steel crisis. Automotive, industrial and logistics were able to increase sales by 15 % and earnings by 32 %. The third quarter was burdened by investments in Mines&Roads, which is concentrating more on low-risk indirect business with integration partners and on emission-reducing traffic solutions in Europe. In Russia PSI expects incoming orders of around 15 million euros from the gas networks, logistics networks, metals industry (tubular steel) and electricity grid businesses. The number of employees in the group increased as of 30 Sept. 2019 to 1,981 (30 Sept. 2018: 1,775) as a result of new hires and the acquisition of the BTC smart grid business. Cash flow from operating activities decreased to 1.8 million euros (30 Sept. 2018: 7.2 million euros) as a result of seasonally rising working capital, the purchase price payment for the business acquired and the integration costs. Liquidity decreased accordingly to 30.8 million euros (30 Sept. 2018: 35.5 million euros). On the basis of the PSI Java Frameworks, PSI has come to support more than 300 application consultants (and "PSI-Click Designer") at integration partners and in the IT departments of customers. PSI will invest in a more automated app store cloud support of this fast growing community, to further improve their economic success and to be able to roll out more licenses. PSI continues to record strong demand, particularly for control technology for electricity and gas networks as well as in the logistics and automotive sectors, and therefore expects further increases in the high-margin license, maintenance, upgrade and cloud business in the coming quarters. Despite the gloomy economic forecasts in Germany and the integration burden, the PSI Management Board continues to expect sales growth of 10 % to 220 million euros and an increase in the operating result of close to 17 million euros for 2019. The German government's Climate Protection Programme 2030 contains numerous initiatives which, if implemented, could lead to additional annual investments of around 100 million euros in control system software in Germany. In addition to the energy sector, this also applies increasingly to the heat and transport sectors. PSI is already involved in more than 20 pre-competitive research projects. The management therefore expects continued good growth in the domestic market of Germany and Europe. On the basis of its own software products, the PSI Group develops and integrates complete solutions for optimizing the flow of energy and material at suppliers (energy networks, energy trading, public passenger transport) and industry (raw material extraction, metal production, automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs almost 2000 persons worldwide. www.psi.de Contact: PSI Software AG Phone +49 30 2801-2727
30.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | PSI Software AG |
Dircksenstraße 42-44 | |
10178 Berlin | |
Germany | |
Phone: | +49 (0)30 2801-0 |
Fax: | +49 (0)30 2801-1000 |
E-mail: | [email protected] |
Internet: | www.psi.de |
ISIN: | DE000A0Z1JH9 |
WKN: | A0Z1JH |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 900311 |
End of News | DGAP News Service |
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900311 30.10.2019
Psi AG Stock
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