HIGHLIGHTS
- Operating revenues of MNOK 114.1 in the third quarter 2010 (MNOK 116.3).
- EBITDA of MNOK 12.1 in the third quarter 2010 (MNOK 0.3).
- Positive cash flow from operating activities of MNOK 8.0 (MNOK 13).
- Strong profit growth in Retail Solutions and Cash Management Retail.
- Still low demand for the division Cash Management CIT/ATM. Expected deliveries to the Russian market are not conducted in the period due to contractual challenges with the Russian distribution partner.
THE GROUP
The Group generated operating revenues of NOK 114.1 million in the third quarter 2010, compared with NOK 116.3 million in the corresponding period in 2009.
The reduction in operating revenues during the quarter can be ascribed to lower sales in the Cash Management CIT/ATM business area.
Operating profit before depreciation (EBITDA) in the third quarter 2010 was NOK 12.1 million, an increase of NOK 11.8 million from the year before. This is despite the negative development in Cash Management CIT/ ATM where EBITDA declined by NOK 2.9 million compared to the corresponding period last year.
The Group made a pre-tax loss of NOK 2.9 million in the third quarter 2010, compared with a loss of NOK 10.2 million in the same quarter in 2009.
For more information, please contact:
Jørgen Waaler, CEO PSI Group ASA, Tel +47 905 90 010
About PSI Group
PSI Group is a leading global provider of closed and secure cash handling solutions in the society and provider of retail technology for improving the efficiency of price, goods and consumer information in selected geographical areas.
PSI Group is head quartered at Rælingen (Norway) and has about 330 employees in Scandinavia and Europe. The company is listed on the Oslo Stock Exchange and Nasdaq OMX in Stockholm.
For more information please visit www.psi-asa.com
