PSI Software SE
Following Strong 4th Quarter PSI with Better Margin and Strong Cash Flow
DGAP-News: PSI Aktiengesellschaft für Produkte und Systeme der Informationstechnologie / Key word(s): Final Results Following Strong 4th Quarter PSI with Better Margin and Strong Cash Flow
PSI Group attained an EBIT of 11.8 million euros in financial year 2016 (31 Dec. 2015: 11.1 million euros). Together with higher financial results due to currency effects, group net result increased by 14.6 % to 8.5 million euros (31 Dec. 2015: 7.5 million euros), the earnings per share improved correspondingly to 0.55 euro (31 Dec. 2015: 0.48 euro). With 176.9 million euros, sales were 3.7 % below the value for the previous year (31 Dec. 2015: 183.7 million euros). The decline in sales is largely the result of the substation automation business in Southeast Asia. In view of the economic and political environment in the region, the Management Board has implemented a higher price discipline, adjusted capacities and reduced risks and capital binding. In spring of 2016, provisions for risks in old and new projects in the steel sector have been made in view of the commodity price crisis. At 13.3 million euros, operating cash flow was again higher than the operating result. New orders were, with 182 million euros, 6.7 %, below the previous year (31 Dec. 2015: 195 million euros), the order backlog was constant at 129 million euros. Sales in Production Management (raw materials, metal production, automotive, logistics) were, at 84.2 million euros, 2.5 % below the figure for the previous year (31 Dec. 2015: 86.4 million euros), the EBIT increased by 14.5 % to 7.1 million euros (31 Dec. 2015: 6.2 million euros). Major and onerous market launch projects were concluded successfully in China in the raw material excavation business and production business. In Infrastructure Management (transportation and safety), sales decreased significantly to 23.5 million euros (31 Dec. 2015: 30.1 million euros) following reductions in capacity in the capital-intensive substation automation business in Southeast Asia, the EBIT decreased to 0.1 million euros (31 Dec. 2015: 0.8 million euros). In Malaysia, PSI moved the expansion of the high-margin software business especially in the field of smart cities forward and hired additional software engineers for this business. The number of employees on 31 Dec. 2016 was, after capacity adjustments in Asia and new hires in Europe, 1,619 (31 Dec. 2015: 1,650). The cash flow from operations was, at 13.3 million euros, once again very solid (31 Dec. 2015: 14 million euros). Liquidity at the end of the year increased to 43 million euros (31 Dec. 2015: 38.8 million euros) so that PSI has sufficient funds for targeted acquisitions in the fields of energy grids and automotive. The Board of Directors, with the approval of the Supervisory Board, will recommend a dividend of 0.22 euros (previous year: 0.21 euros). By the end of 2016, all the major software products in Production Management had been converted to the new, group-wide Java platform and pilot projects were successfully implemented with customers. Customers are enthusiastic that they can now customise the user interfaces themselves by click & drop. PSI will demonstrate the interaction of the uniform software products with the Industry 4.0 swarm manufacturing at Hannover Fair from the cloud. As of 2017, regular customers will be increasingly migrated to the new product versions and new customers approached with this feature. In view of the stabilisation of many PSI target markets in recent months and with a sales initiative for the renewed products, the PSI Board of Directors is optimistic about financial year 2017. PSI is therefore striving for a sales growth in the mid-single digits and an EBIT between 12 and 15 million euros. On the basis of its own software products, PSI AG develops and integrates complete solutions for energy management (energy networks, energy trading), production management (mining, metals, automotive, mechanical engineering, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs more than 1,600 persons worldwide. www.psi.de PSI AG Phone +49 30 2801-2727
22.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | PSI Aktiengesellschaft für Produkte und Systeme der Informationstechnologie |
Dircksenstraße 42-44 | |
10178 Berlin | |
Germany | |
Phone: | +49 (0)30 2801-0 |
Fax: | +49 (0)30 2801-1000 |
E-mail: | ir@psi.de |
Internet: | www.psi.de |
ISIN: | DE000A0Z1JH9 |
WKN: | A0Z1JH |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |