DGAP-News: PSI Also Increases Sales and EBIT After Three Quarters
(firmenpresse) - PSI Aktiengesellschaft / Key word(s): Quarter Results
28.10.2010 09:13
---------------------------------------------------------------------------
PSI Also Increases Sales and EBIT After Three Quarters
- Group sales increase by 13 % to 113.5 million Euros
- New orders increase by 6 % to 122 million Euros
- EBITDA raises by 24 % to 8.5 million Euros
In the first nine months of 2010 the PSI Group increased its EBITDA by 24 %
to 8.5 million Euros (30 September 2009: 6.8 million Euros) and the EBIT by
17 % to 5.4 million Euros (30 September 2009: 4.6 million Euros). The Group
net result was, at 3.6 million Euros, slightly below the previous year (30
September 2009: 3.8 million Euros), as a result of the temporary effect of
higher deferred taxes. Group sales increased by 13 % to 113.5 million Euros
(30 September 2009: 100.1 million Euros). New orders increased by 6 % to
122 million Euros (30 September 2009: 115 million Euros) compared to the
previous year.
Energy Management (electricity, gas, oil, heat) achieved 4 % higher sales
of 45.1 million Euros (30 September 2009: 43.5 million Euros). The EBIT for
the segment increased to 4.6 million Euros (30 September 2009: 3.0 million
Euros). The business unit oil and gas continued to develop positively and
managed to initiate new major projects in Russia. In the business unit
electrical energy, investments were made in the framework of an export
project for the development of protocols and interfaces for station
technology and smart meters using the American standards.
Sales in Production Management (raw materials, industry, logistics) were,
at 48.7 million Euros, 12 % over the figure for the previous year (30
September 2009: 43.5 million Euros). The EBIT decreased to 0.2 million
Euros (30 September 2009: 1.7 million Euros) and was therefore
significantly below the budget. The segment was primarily encumbered by
investments in the new mining control system in the pilot project and
accelerated depreciation from purchase price allocation. For the 4th
quarter the management expects the initial licensing earnings from the
marketing of the new product.
In Infrastructure Management (transportation, security, telecommunications)
sales increased by 50 % to 19.7 million Euros (30 September 2009: 13.1
million Euros). The EBIT increased again to 1.3 million Euros (30 September
2009: 0.3 million Euros). Investments in the communication solution Cellls
were concluded in the 3rd quarter; the talks with marketing partners were
intensified. Above all, the subsidiaries in Southeast Asia and Poland and
the transport and telecommunications business contributed to the results.
PSI expects major contracts from the Middle East in the coming quarters.
As a result of targeted recruitment with an emphasis on export, the number
of employees in the Group increased as of 30 September 2010 to 1,407 (30
September 2009: 1,387). The order book volume in the Group decreased to 107
million Euros (30 September 2009: 116 million Euros) compared to the
previous year's quarter, the cash flow from business operations improved to
4.9 million Euros (30 September 2009: 0.1 million Euros).
Within the framework of focusing and internationalization, PSI added the
mining business in 2010, made initial investments for entering the growth
market Turkey and began bundling US activities in a new company. With the
new graphical user interface, the major portion of the Group's new, uniform
product platform has been released for use in customer projects.
Along with new developments and market entries, in the first three quarters
of the year PSI also completed low margin projects from the first half of
2009, which was characterized by the crisis. Currently PSI is also noting a
significant increase in requests for proposal in the domestic market and in
exports to Asia. For that reason, the management also expects a strong 4th
quarter for new orders, sales and earnings. For 2011, the management
expects significant increases in the EBIT as a consequence of improved
operating margins as well as the elimination of costs and depreciation.
PSI AG develops and integrates complete solutions, on the basis of its own
software products, for the management of energy networks (electricity, gas,
oil, heat, water), cross-company production management (metals, automotive,
mechanical and plant engineering, mining, logistics) and infrastructure
management for telecommunications, transport and safety. PSI was founded in
1969 and employs 1,400 persons in the group. www.psi.de
PSI AG
Karsten Pierschke
Communications and Investor Relations
Dircksenstraße 42-44
10178 Berlin
Germany
Phone +49 30 2801-2727
Facsimile +49 30 2801-1000
E-Mail: KPierschke(at)psi.de
28.10.2010 09:13 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: PSI Aktiengesellschaft
Dircksenstraße 42-44
10178 Berlin
Deutschland
Phone: +49 (0)30 2801-0
Fax: +49 (0)30 2801-1000
E-mail: ir(at)psi.de
Internet: www.psi.de
ISIN: DE000A0Z1JH9
WKN: A0Z1JH
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
Datum: 28.10.2010 - 09:13 Uhr
Sprache: Deutsch
News-ID 32433
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 236 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: PSI Also Increases Sales and EBIT After Three Quarters"
steht unter der journalistisch-redaktionellen Verantwortung von
PSI Aktiengesellschaft (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
