DGAP-News: PSI Aktiengesellschaft für Produkte und Systeme der
Informationstechnologie / Key word(s): Half Year Results/Quarter Results
PSI with Improved Result in First Six Months in Difficult Environment
27.07.2016 / 09:07
The issuer is solely responsible for the content of this announcement.
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PSI with Improved Result in First Six Months in Difficult Environment
- EBIT increases 12 % despite lower sales
- Sales after adjustment in Southeast Asia 6 % below previous year
- Volume of orders 10 % over previous year at 144 million Euros
<pre>
Performance 1 Jan.- 30 June 1 Jan.- 30 June Change
indicator (TEUR) 2016 2015
(adjusted)
Sales 85,102 90,522 -6.0 %
EBIT 4,534 4,049 +12.0 %
Group EBIT 2,414 2,364 +2.1 %
Earnings per share 0.16 0.15 +6.7 %
(EUR)
</pre>
The PSI Group had 6 % lower sales of 85.1 million
Euros (30 June 2015: 90.5 million Euros) in the first six months of 2016
due to adjustments in capacity in Southeast Asia. The EBIT increased by 12
% to 4.5 million Euros (30 June 2015, adjusted: 4.0 million Euros), the
group net result was, as in the previous year 2.4 million Euros. The volume
of new orders was, at 100 million Euros, 4 % below the level of the
previous year (30 June 2015: 104 million Euros); the previous year
contained a multi-year major contract from E.ON Deutschland. The order
backlog on 30 June 2016 was, at 144 million Euros, 10 % above the level of
the previous year (30 June 2015: 131 million Euros).
Energy Management (energy networks, energy trading) attained 1 % higher
sales of 32.0 million Euros (30 June 2015: 31.8 million Euros) in the first
six months of the year. The EBIT for the segment increased significantly
compared to the previous year to 2.6 million Euros (30 June 2015, adjusted:
1.6 million Euros). The electrical energy business continued to improve
sales and profits with its software products, while the customers'
willingness to invest in the field of gas and oil is recovering slowly
following the slump in raw material prices in the first quarter. In the
field of energy trading, new orders and sales improved following the high
product and migration investments of the previous years and a positive
result was achieved.
Sales in Production Management (raw materials, metals, automotive,
logistics) for the first six months were, at 41.5 million Euros, 6 % below
the figure for the previous year (30 June 2015: 44.2 million Euros), but
the EBIT increased by 3 % to 2.8 million Euros (30 June 2015: 2.7 million
Euros). The mining business, which is still affected by weak commodity
prices, reduced encumbrances from the pilot project in China, which is now
operational. The metals business was able to continue to increase new
orders, but in sales and earning still felt the repercussions of the weak
steel economy. In June major orders were acquired, among others,
thyssenkrupp and Tata and an important partnership with the plant
engineering company Primetals was closed. The automotive and industry
business faced a slowdown in orders as a result of the diesel discussion,
but was able to slightly increase sales and EBIT. Logistics confirmed the
positive result of the previous year with continued strong new orders.
In Infrastructure Management (transportation and security), sales decreased
noticeably to 11.5 million Euros (30 June 2015: 14.5 million Euros), the
EBIT dropped to -0.3 million Euros (30 June 2015, adjusted: 0.3 million
Euros). In Southeast Asia and in the Arabian Gulf region burdening long-
running market entry projects have been commissioned successfully so that
the maintenance and expansion phases can commence as of the second half of
the year.
The number of employees in the group decreased to 1,650 on 30 June 2016 as
a result of adjustments in capacity in the export (30 June 2015: 1.677).
The cash flow from operating activities improved by 3.6 million to 0.2
million Euros (30 June 2015: -3.4 million Euros). After payment of
dividends, the liquidity on 30 June 2016 was at 34.8 million Euros (30 June
2015: 27.8 million Euros) serving the seasonal sales financing and the
possible financing of acquisitions. PSI is examining takeover targets in
the fields of power distribution and discrete production.
Development investments and first product migrations are aimed at
application server-based three-layer architecture and on the extension of
the new graphics generation. Especially in Production Management many
migrated and newly implemented products on the basis of the java group
platform are being introduced to pilot customers so that new and regular
customers are waiting for the broad marketing of the software. We are going
to address fast-growing online shops with a cloud/SaaS offer of our
logistics solutions, which has been migrated to the java platform as well.
PSI is looking even more intense for sales engineers and integration
partners to work with existing and new customers to increase new orders and
sales.
PSI does not expect any negative effects from the Brexit decision in the
short term, due to the fact that Broner Metals, located near London,
primarily handles US dollar contracts, while the personnel expenses are
paid in British pounds, a weakened currency. In the mid term PSI expects a
further growing demand in the fields of information security in energy and
production networks, decentralised energy supply and Industry 4.0. The PSI
board is optimistic for the second half of the year and will decide about
making more concrete statements about the annual goals formulated in the
2015 annual report in the course of the third quarter.
On the basis of its own software products, PSI AG develops and integrates
complete solutions for energy management (gas, oil, electricity, heat,
energy trading), production management (mining, metals, automotive,
mechanical engineering, logistics) and infrastructure management for
transport and safety. PSI was founded in 1969 and employs 1,650 persons
worldwide. www.psi.de
PSI AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communication
Dircksenstraße 42-44
10178 Berlin
Phone +49 30 2801-2727
Fax +49 30 2801-1000
E-Mail: KPierschke@psi.de
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27.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: PSI Aktiengesellschaft für Produkte und Systeme der
Informationstechnologie
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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange; Terminbörse EUREX
End of News DGAP News Service
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486417 27.07.2016
DGAP-News: PSI with Improved Result in First Six Months in Difficult Environment
| Source: EQS Group AG