THE GROUP
Saturation of CashGuard sales in Norway and Sweden were the main cause Retail Solutions and Cash Management Retail had a decline in revenues in the fourth quarter of 10.5 per cent to MNOK 127.1 (MNOK 142).
For the year there is a positive development in all three divisions. Total revenues increased in the group by 2.5 per cent to MNOK 537.2 (MNOK 524.3). Progress is particularly good in Retail Cash Management, which has experienced an increase in exports to the European market.
Operating profit before depreciation (EBITDA) for both the quarter and the year as a whole, show significant progress. In the fourth quarter, EBITDA increased by 101.2 per cent to MNOK 9.8 (MNOK 4.9), while the year show strong growth with an increase of 66.6 per cent to MNOK 49.9 (MNOK 30.0). This improvement is primarily driven by increased sales in Retail Cash Management, as well as cost efficiency in the Cash Management CIT / ATM.
The strong cash flow from operations allows the Board to propose a dividend of NOK 0.25 per share.
Saturation of CashGuard sales in Norway and Sweden were the main cause Retail Solutions and Cash Management Retail had a decline in revenues in the fourth quarter of 10.5 per cent to MNOK 127.1 (MNOK 142).
For the year there is a positive development in all three divisions. Total revenues increased in the group by 2.5 per cent to MNOK 537.2 (MNOK 524.3). Progress is particularly good in Retail Cash Management, which has experienced an increase in exports to the European market.
Operating profit before depreciation (EBITDA) for both the quarter and the year as a whole, show significant progress. In the fourth quarter, EBITDA increased by 101.2 per cent to MNOK 9.8 (MNOK 4.9), while the year show strong growth with an increase of 66.6 per cent to MNOK 49.9 (MNOK 30.0). This improvement is primarily driven by increased sales in Retail Cash Management, as well as cost efficiency in the Cash Management CIT / ATM.
The strong cash flow from operations allows the Board to propose a dividend of NOK 0.25 per share.
About PSI Group
PSI Group is the leading global provider of closed and secure cash handling solutions wherever money moves.
PSI Group is head quartered at Rælingen (Norway) and has about 300 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.psigroup.no
PSI Group is the leading global provider of closed and secure cash handling solutions wherever money moves.
PSI Group is head quartered at Rælingen (Norway) and has about 300 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.psigroup.no
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
