- New orders up 18 % to 114 million Euros
- Group sales increase by 12 % to 85.7 million Euros
- EBIT increased by 33 % to 5.1 million Euros
Berlin, 27 July 2012 – PSI Group increased its sales by 12 % to 85.7 million Euros (30 June 2011: 76.2 million Euros) in the first six months of 2012. The EBIT improved by 33 % to 5.1 million Euros (30 June 2011: 3.8 million Euros), Group net result doubled to 4.1 million Euros (30 June 2011: 1.9 million Euros) as a result of tax effects. New orders increased compared to the same period last year by 18 % to 114 million Euros (30 June 2011: 97 million Euros), the order book volume as of 30 June 2012 increased by 14 % to 142 million Euros (30 June 2011: 125 million Euros).
Energy Management (electricity, gas, oil, heat) was again marked by the very good development in gas and oil while the electrical energy business continued to invest strongly in the development of new functions for the requirements of the energy transition. The energy trading business invested strongly in the functions for the multi-commodity trading and the integration of TS Energy software for energy storage operation acquired in the first quarter. Total sales for Energy Management dropped by 3 % to 30.7 million Euros (30 June 2011: 31.7 million Euros) in the first six months. Despite positive one-off effects from the sale of licenses, the EBIT for the segment was, at 1.7 million Euros, considerably below the value for the previous year (30 June 2011: 2.6 million Euros).
Sales in Production Management (raw materials, industry, logistics) were, at 43.7 million Euros, 22 % above the value for the previous year (30 June 2011: 35.8 million Euros). The EBIT was increased by 78 % to 3.0 million Euros (30 June 2011: 1.7 million Euros). The metals industry business once again provided the greatest contribution to the EBIT and was awarded major international orders.
In Infrastructure Management (transportation and security), sales increased by 29 % to 11.2 million Euros (30 June 2011: 8.7 million Euros). The EBIT for the business more than doubled to 1.1 million Euros (30 June 2011: 0.5 million Euros). PSI Poland expanded business in the Polish market with an important major contract and once again provided a major contribution to the result.
The number of employees in the Group increased to 1.552 (30 June 2011: 1.441) as of 30 June 2012, primarily in Poland and as a result of the takeover in Logistics last year. The cash flow from operating activities was, for project reasons, negative at –4.1 million Euros (30 June 2011: 1.8 million Euros), liquidity decreased slightly to 25.8 million Euros (30 June 2011: 26.1 million Euros).
In the third quarter PSI expects continued encumbrances in the area of control systems for distribution grids in the electrical energy business as a result of the energy transition and the continuation of the dynamic development in Production Management. PSI is investing heavily in the migration of additional business units to the new, company-wide uniform software basis for the improvement of productivity and ergonomics and has taken the next step with the beginning of the server-side rollout.
As a result of the high volume of new orders since the beginning of the year, the management is still aiming for 190 million Euros in new orders, sales of 180 million Euros and an EBIT of 13-16 million Euros for the year.
On the basis of its own software products, PSI AG develops and integrates complete solutions for energy management (electricity, gas, oil, heat), production management (metals, automotive, mechanical engineering, mining, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs more than 1,500 persons worldwide.