PSI Software SE
Thanks to Strong Final Quarter PSI Exceeds Targets for 2019
PSI Software AG / Key word(s): Annual Results/Dividend Thanks to Strong Final Quarter PSI Exceeds Targets for 2019
Berlin – PSI Group increased its EBIT to 17.2 million euros (31 Dec. 2018: 15.5 million euros) in financial year 2019. The EBITDA jumped by almost 40 % to 28.0 million euros (31 Dec. 2018: 20.1 million euros), to which the conversion to IFRS 16 also contributed 5.3 million euros. The Group net result increased by almost 35 % to 14.3 million euros (31 Dec. 2018: 10.6 million euros) due to fiscal effects, the result per share improved accordingly to 0.91 Euro (31 Dec. 2018: 0.68 Euro). Sales increased by 13.1 % to 225.2 million euros (31 Dec. 2018: 199.2 million euros). The thematic fields smart grid and transportation transition grew by 15 %, industry 4.0 sectors increased organically by 10 %, despite the steel and diesel crisis in Europe. New orders increased by 8.8 % to 236 million euros (31 Dec. 2018: 217 million euros), the order book volume at the end of the year increased by 2.2 % to 142 million euros (31 Dec. 2018: 139 million euros). Sales in Production Management (raw materials, metals, industry, logistics) grew organically by 9.9 % to 109.4 million euros (31 Dec. 2018: 99.5 million euros), the EBIT increased by 18 % to 11.8 million euros (31 Dec. 2018: 10.0 million euros). Metals production business was able to compensate for the weakness in Europe with major orders from the USA and China. Automotive & industry came through the year of the diesel and particulate matter crisis well with numerous upgrade projects. Logistics grew by 28 % with strong partner business. All segments significantly improved their results based on the migration of their products to the PSI Java Framework and a growing partner structure. In Poland, PSI continued to grow with orders for logistics, production and energy networks. The number of employees in the group on 31 Dec. 2019 rose by 197 to 1,984 (31 Dec. 2018: 1,787) compared with the previous year due to new hires and the acquisition in the Energy segment. Cash flow from operating activities, at EUR 12.5 million (Dec. 31, 2018: EUR 19.0 million) was down from the strong prior-year figure, not least due to growth financing. The share of revenues from maintenance and upgrade subscriber contracts was further increased to 33.5%. After payment of the purchase price for the BTC Smart Grid, liquid funds at the end of the year decreased to 38.7 million euros (31 Dec. 2018: 44.6 million euros), so that PSI continues to have sufficient funds for targeted acquisitions. The Management Board will propose a dividend of 0.05 euro (previous year: 0.25 euro) to the Annual General Meeting in consultation with the Supervisory Board. The effects of the current corona crisis cannot be conclusively quantified at this point in time from the perspective of the Executive Board and the Supervisory Board. PSI again spent 24.0 million euros on research and development in the reporting year, about one third of which was for the product and platform strategy. Two thirds of the products have been converted to the PSI Java platform, and intensive work is being done on the remaining third. The graphical user interface of the platform also runs without adjustment expenses in the Internet (or in intranets) and on mobile devices. PSI is currently testing an app store for the platform products, from which partners and regular customers can choose automatic delivery to various clouds. PSI will participate in the climate protection programme of the German federal government (energy transition, heat transition, transport transition) and the Green Deal in the European Union. PSI software contributes significantly to the integration of renewable energy into the electricity networks. The gas network will become the sole failure guarantor and be expanded in the future by green gases and a hydrogen network. Prior to the corona crisis, PSI had aimed for a continuation of growth and a further increase in the EBIT by 10% in 2020. The corona virus will lead to delays in the awarding of contracts, but for many customers PSI is also important in defending against the crisis. PSI had already equipped all 2,000 employees in advance with notebooks and remote access for home offices. Due to the high volume of orders on hand, management is therefore currently expecting a slight weakening of sales and a one-time 20% decrease in the EBIT. Contact PSI Software AG Phone +49 30 2801-2727 Information and Explanation of the Issuer to this News: On the basis of its own software products, the PSI Group develops and integrates complete solutions for optimizing the flow of energy and material at suppliers (energy networks, energy trading, public passenger transport) and industry (raw material extraction, metal production, automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs 2,000 persons worldwide. www.psi.de
23-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | PSI Software AG |
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 |
EQS News ID: | 1004819 |
End of Announcement | DGAP News Service |