P&I Personal & Informatik AG

  • WKN: 691340
  • ISIN: DE0006913403
  • Land: Deutschland

Nachricht vom 12.11.2015 | 14:56

P&I Personal & Informatik AG: First half of year reinforces growth strategy


DGAP-News: P&I Personal & Informatik AG / Key word(s): Half Year
Results

2015-11-12 / 14:56

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* Revenue growth of 11.2 %

In the first half of its financial year (April 1 to September 30, 2015),
P&I Personal & Informatik AG (P&I) generated revenue of EUR 56.7 million
(previous year: EUR 51.0 million) and earnings before interest and taxes
(EBIT) of EUR 21.6 million (previous year: EUR 19.9 million). This
corresponds to a market-leading EBIT margin of 38.0 % (previous year: 39.0
%). Earnings before interest, taxes, depreciation and amortisation (EBITDA)
amounted to EUR 23.0 million (previous year: EUR 21.0 million). The P&I
Group reported DFVA/SG earnings of EUR 21.8 million (previous year: EUR
15.5 million). The P&I Group had an average of 402 employees (FTE).
"The figures for the first half of the year confirm that we are on the
right track with our growth strategy," commented P&I CEO Vasilios Triadis.
"Our revenue and earnings are in line with our ambitious expectations and
serve to reinforce our planning for the financial year as a whole."

Consolidated revenue for the first half of the year increased by 11.2 %
year-on-year to EUR 56.7 million (previous year: EUR 51.0 million), with
organic growth accounting for 7.4 %. Recurring services recorded
above-average growth of 18.4 % to EUR 30.4 million (previous year: EUR 25.7
million).
 
Maintenance income, software as a service (SaaS) income and recurring
income under service agreements are combined in this separate revenue
category. The P&I Group generated 54 % of its revenue from recurring
revenue business. Consulting services also grew compared with the previous
year, both in traditional "non-recurring business" (EUR +1.4 million) and
in recurring service business (EUR +1.4 million). Licence revenue declined
slightly year-on-year to EUR 15.3 million.

P&I generated EUR 42.1 million (previous year: EUR 38.9 million) or 74 % of
its revenue in Germany. The growth in recurring revenue is primarily
attributable to the extremely strong licence growth in prior periods and
the resulting increase in maintenance income. P&I can also report
encouraging growth in the area of service agreements. Revenue in the
international business environment increased to EUR 14.6 million (previous
year: EUR 12.1 million), largely as a result of acquisitions.

As in the past, P&I has been able to convert a substantial proportion of
its revenue growth into additional profit in the current financial year. At
the same time, the P&I Group has invested in its employees as value
creators, in its infrastructure and in products such as P&I BIG DATA, P&I
LOGA3 and the HR Business Connector. The cost increase is in line with
planning.

The Management Board is reiterating its forecast of organic consolidated
revenue growth in excess of the 5 % mark in the 2015/2016 financial year.
Taking into account the acquisition of Soreco HR AG, the actual revenue
growth will be higher.
On the basis of the expected revenue increase, the profitability of the P&I
Group will remain at its high level providing that significant cost
efficiency is achieved, with an EBITDA target in the region of EUR 47
million.
 
"The process of digitisation is a gradual development of our time. P&I
recognised this development process as a challenge for human resource
management at an early stage and took action accordingly. I presented our
approach to our customers at this year's user conference. With Release 15.9
and 16.0, we are offering a P&I LOGA client based on state-of-the-art web
technology," commented P&I CEO Vasilios Triadis. "This and other new
products, namely the HR Business Connector, will give the HR market and HR
managers the opportunity to become strategic business partners for their
companies above and beyond their day-to-day HR work. At the same time,
these innovations will safeguard P&I's long-term development."



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2015-11-12 Dissemination of a Corporate News, transmitted by DGAP - a
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412491 2015-11-12  

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