Berlin, 11 April 2005 – According to preliminary calculations the PSI Group had a small positive EBIT and a balanced group result for the first quarter of 2005. After the payment of the purchase price for the minority shares of the steel software subsidiary PSI BT cash was 23 million euros on 31 March 2005 (31 March 2004: 14 million euros). The new orders for the first quarter were, with 32 million euros, within the corridor of 30 to 35 million euros (Q1-2004: 39 million euros).
In the first quarter the founding of the PSI subsidiary in Shanghai (China) was completed. On the basis of the current orders situation and further costs savings that were announced and will take effect starting in April, a slight increase in the EBIT is predicted for the second quarter. A significant recovery of the business is expected as soon as the new Energy Management Act is approved providing the energy industry with planning security.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of large networks (electricity, gas, oil, telecommunications, transport), cross-company production management (steel, chemicals, machinery, automotive, logistics) and information management for government and service providers. PSI was founded in 1969 and currently employs 1,100 persons in the group.