PSI Returns to Profit Zone in 1st Quarter of 2002

  • EBIT of 0.51 million euros

  • Cash increase to over 20 million euros

  • Network Management Segment continues to positive development




Berlin, 21 May 2002 – The PSI Group returned to the profit zone in the first quarter of 2002 with a positive EBIT of 0.51 million euros. This corresponds to a profit improvement of 3.42 million euros compared to the fourth quarter of 2001 (Q4/2001: -2.92 million euros) and a decrease from the same quarter of the previous year of 70,000 euros (Q1/2001: 0.58 million euros). Sales decreased compared to the previous year by 9% to 35.93 million euros (2001: 39.48 million euros). This is, on the one hand, due to the decrease of hardware sales of 1.95 million euros, the partial sale of the subsidiaries GSI and Integral (0.8 million euros), which were completely consolidated in the previous year and to the organizational and personnel measures initiated in the fourth quarter. Cash increased over 31 December 2001 by 7.48 million euros to 20.36 million euros and to the same quarter of the previous year by 2.62 million euros (31 March 2001: 17.74 million euros).


In the Network Management Segment (energy, telecommunication, traffic) sales increased compared to the same quarter of the previous year by 4.6 % to 16.60 million euros (Q1/2001: 15.86 million euros) and the EBIT by 104% to 1.19 million euros (Q1/2001: 0.58 million euros). In the Production Management Segment (industry, logistics) sales decreased by 17.5% to 12.74 million euros (Q1/2001: 15.43 million euros) and the EBIT by 0.82 million euros to –1.01 million euros (Q1/2001: -0.19 million euros). In Information Management (government, services, CRM) sales decreased as a result of a stronger focusing by 19.4% to 6.60 million euros (Q1/2001: 8.18 million euros), whereby the EBIT could be increased by 78.8% to 0.33 million euros (Q1/2001: 0.18 million euros).


The number of employees decreased compared to the 1st quarter of 2001 by 27 and compared to the end of the year by 57 to 1,348 employees. The volume of new orders in the first quarter was 32 million euros; the order backlog was 120 million euros.


Despite the noticeable increase in demand for PSI solutions the IT market continues to be marked by long decision-making processes and uncertainty about the economic development. PSI expects the market to revive in the second half of the year and therefore assumes that the targeted earnings for the year will be attained. These expectations are being supported by the positive effects of the organizational measures introduced in the fourth quarter, the acquisition of Büsing & Buchwald GmbH in the second quarter and the strategic alliance established with the VA TECH Group at the beginning of May.