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

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

13.11.2014 / 08:30

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* Revenue growth of 12.3 %

In the first six months of its financial year (April 1 to September 30,
2014), P&I Personal & Informatik AG (PUIG.F, Frankfurt Stock Exchange)
generated revenue of EUR 51.0 million (previous year: EUR 45.4 million) and
earnings before interest and taxes (EBIT) of EUR 19.9 million (previous
year: EUR 15.2 million). This corresponds to a market-leading EBIT margin
of 39.0 % (previous year: 33.5 %). Earnings before interest, taxes,
depreciation and amortisation (EBITDA) amounted to EUR 21.0 million
(previous year: EUR 16.3 million). The P&I Group reported a DFVA/SG result
of EUR 15.5 million (previous year: EUR 12.2 million). The Group employed
an average of 390 people (FTEs).
"Our figures for the first half of the year underline the fact that our
growth strategy is the right one," commented Vasilios Triadis, Chairman of
the Management Board of P&I. "Revenue and earnings are in line with our
expectations and confirm the assumptions of our planning for the financial
year as a whole."

Consolidated revenue for the first half of the year increased by 12.3 %
year-on-year to EUR 51.0 million (previous year: EUR 45.4 million). Licence
revenue enjoyed above-average growth compared with the previous year,
climbing by 21 % to EUR 15.7 million in the first half of the current
financial year and accounting for 31 % of the Group's total revenue. The
P&I Group is reporting recurring revenue as a separate category comprising
maintenance income, software as a service (SaaS) income and recurring BIG
DATA revenue from service agreements for the first time with effect from
the start of the 2014/2015 financial year.
 
Taking into account the prior-year adjustment, recurring business grew by
15 % to EUR 25.7 million. 50 % of the P&I Group's revenue was generated
from recurring business.

P&I generated EUR 38.9 million (previous year: EUR 35.2 million) or 76 % of
its revenue in Germany. This year-on-year increase is primarily due to the
rise in recurring maintenance and service business revenue. Thanks to the
extremely good second quarter in the Switzerland segment, international
revenue also enjoyed year-on-year growth to EUR 12.1 million (previous
year: EUR 10.2 million).

The Management Board is confirming its forecast and anticipates
consolidated revenue of more than EUR 100 million in the 2014/2015
financial year, corresponding to an EBIT margin of more than 35 %.

"The P&I brand, its products and its customers are at the heart of
everything we do. The fine-tuning of P&I BIG DATA and the promotion of a
lively network of cooperation and communication with our customers are
major tasks in which all of our operating units are involved," summarised
Vasilios Triadis, Chairman of the Management Board of P&I. "We are
confident of achieving our goals this year as well."



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13.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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296748 13.11.2014