- Increased rationalization investments by PSI customers
- EBIT increases by 100 % to 1.4 million euros in 3rd quarter
Berlin, 8 October 2008 – The PSI Group increased its volume of new orders in the 3rd quarter of 2008 by 32 % to 41 million euros (2nd quarter 2007: 31 million euros) compared to the previous year. The EBIT in the 3rd quarter 2008 increased by 100 % to about 1.4 million euros (3rd quarter 2007: 0.7 million euros). In the first nine months of the year the new orders were increased by 16 % to 119 million euros (1 Jan. - 30 Sept. 2007: 103 million euros). The EBIT in the first nine months of 2008 is, at about 4.1 million euros, almost 60 % above the value of the previous year (1 Jan. - 30 Sept. 2007: 2.6 million euros). Liquid funds on 30 September 2008 were at 20.8 million euros.
The increase in the volume of new orders was attained by all the PSI business units. PSI customers in Europe and the eastern growth markets have very strong cash flows and are increasingly investing in the rationalisation of their core business processes in production and energy distribution.
PSI’s current volume of new orders (not including maintenance) has a range of about 10 months; in addition, the Group has begun the 4th quarter with a well-filled sales pipeline. The management therefore expects a continuation of the growth and results dynamics and assumes that the EBIT prognosis from the middle of September for 6 million euros will be achieved or exceeded. PSI plans to publish the detailed report for the 3rd quarter on 28 October 2008.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, heat, water), cross-company production management (steel, mechanical engineering, automotive, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and currently employs 1,100 persons in the group.