HIGHLIGHTS
- PSI has succeeded in reversing the negative result in Q1, and the profit has grown within all business areas
- Operating revenues of MNOK 138.9 in the second quarter 2010 (MNOK 148.1), down 6.2 per cent. In first half 2010 operating revenues were MNOK 268.2 (MNOK 295.3) down 9.2 per cent.
- EBITDA of MNOK 12.8 in the second quarter 2010 (MNOK 13.2). In first half EBITDA was NOK 12.9 million (NOK 30.1 million).
- Positive cash flow from operating activities of MNOK 13.0 (MNOK 0.8). In first half 2010 the cash flow from operating activities was MNOK - 6.9 (MNOK - 8.3).
- Continued weak sales for the division Cash Management CIT/ATM, but the full effect of the measures gave positive EBITDA. This division received pilot orders in two new major markets.
THE GROUP
The Group generated operating revenues of NOK 138.9 million in the second quarter 2010, compared with NOK 148.1 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 second quarter 2010 was NOK 12.8 million, some NOK 0.4 million less than the year before. The decrease was due to the development in Cash Management CIT/ ATM where EBITDA fell by NOK 3.8 million compared to the corresponding period last year.
The Group made a pre-tax gain of NOK 4.9 million in the second quarter 2010, compared with a profit of NOK 3.5 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, visit www.psi-asa.com
