- EBIT increases by 280 percent to 3.8 million euros
- Group sales of 123.2 million euros 5 percent above value for previous year
- New orders increase by 6 percent to 132 million euros
Berlin, 13 March 2008 – The PSI Group increased its EBIT to 3.8 million euros (2006: 1.0 million euros) in financial year 2007. The Earnings Before Tax increased to 2.7 million euros (2006: –0.3 million euros), the Group Result to 1.7 million euros (2006: 0.4 million euros) as a result of deferred taxes of 0.9 million euros. Sales increased to 123.2 million euros (2006: 117.0 million euros) despite the sale of the government business. New orders were, at 132 million euros, above the previous year (2006: 125 million euros) as was the order book volume at the end of the year, which increased to 78 million euros (31 December 2006: 74 million euros). As a result of the positive operating cash flow, liquidity has increased to 18.9 million euros (31 December 2006: 15.3 million euros). The strong market positions in heavy industry and energy are to be expanded with targeted acquisitions.
The Energy Management segment (electricity, gas, oil, heat, water) was encumbered by investments in 2007. As a result of that and the lower portion of external work, sales decreased to 51.7 million euros (2006: 54.1 million euros). The operating result was, at 2.6 million euros, slightly below that of the previous year (2006: 2.7 million euros). The electrical energy sector invested in a Russian control system version and new functions for the management of high-voltage grids.
Sales in the Production Management segment (industry, logistics) increased by 12 percent in 2007 to 51.6 million euros (2006: 46.2 million euros). Here, the operating result could be increased to 1.7 million euros (2006: 0.4 million euros). Business development was again good, with PSI BT, which focuses on the steel industry, continuing to expand its market position, especially internationally. The ERP software producer PSIPENTA was also able to increase its result in the field of logistics. The new PSI Production unit launched a new control system for raw materials extraction.
In 2007 Infrastructure Management (transportation, security, telecommunications) attained an increase in sales of 19 percent to 19.8 million euros (2006: 16.7 million euros) despite the sale of government activities. The transportation systems in particular contributed to this development with very good new orders, but telecommunication solutions also displayed a positive trend toward the end of the year. Overall, the segment attained a positive operating result of 0.5 million euros (2006: –0.5 million euros).
The number of employees decreased slightly to 1,016 (31 December 2006: 1,049) as a result of the sale of government activities with its 70 employees and the addition of 40 new hires. In 2008 PSI will hire 50 new employees.
For 2008 PSI predicts a good investment climate for rationalisations in Germany and a continuing dynamic development of the strong-growth markets in Eastern Europe and Asia. On the basis of this, management expects continued growth and an increase in the EBIT to over 5 million euros for the current year.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, water, heat), cross-company production management (steel, mechanical engineering, automotive, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and currently employs more than 1,000 persons in the group. www.psi.de