- Operating result climbs to 2.6 million euros after three quarters
- Liquidity climbs to 18.3 million euros as a result of positive cash flow
Berlin, 30 October 2007 - The PSI Group has achieved an operating result of 2.6 million euros in the first three-quarters of the current year (30 September 2006: 15 kEUR). The Group result, which in the previous year had been clearly negative, climbed to 0.8 million euros (30 September 2006: -0.9 million euros). Sales climbed slightly in the first nine months to 87.7 million euros (30 September 2006: 86.1 million euros). The third-quarter figures are the first which do not include government activities which were sold in the middle of the year. New orders for the first nine months of 103 million euros (30 September 2006: 100 million euros) were also higher than the value for the previous year, as was the order book volume, which, after adjustment for the activities sold was 85 million euros (30 September 2006: 81 million euros). The operating cash flow, which had been negative at the middle of the year, improved to 2.4 million euros (30 September 2006: -9.3 million euros), liquid funds increased 18.3 million euros (30 September 2006: 9.3 million euros).
The Energy Management segment (electricity, gas, oil, heat, water) had sales of 38.2 million euros (30 September 2006: 38.3 million euros). At 1.6 million euros, the operating result was at about the same level as the previous year (30 September 2006: 1.6 million euros). This includes investments in a control system version for the Russian market and in new functions for the management of high voltage networks.
The Production Management segment (industry, logistics) increased sales to 37.5 million euros in the first nine months compared to the previous year (30 September 2006: 34.4 million euros). The operating result improved over the previous year to 0.8 million euros (30 September 2006: 0.3 million euros). In the third quarter new export orders were attained from Russia and other export markets primarily in the fields of steel and logistics.
In Infrastructure Management (traffic, security, telecommunications) sales decreased to 12.0 million euros in the first nine months as a result of one million less in hardware and the sale of the government activities EITCO and RISER (30 September 2006: 13.3 million euros). The operating result improved to 0.5 million euros, after having been clearly negative in the previous year (30 September 2006: -1.6 million euros). Important contracts were also obtained in the third quarter, particularly in the traffic sector. This then established the prerequisites for renewed growth and continued increases in profits in the segment.
The number of employees decreased as a result of the sale of the government business with 70 employees and about 40 new hires to 1,014 (30 September 2006: 1,046).
As in previous years, the management expects strong business in the 4th quarter. The annual forecasts to date for the EBIT of 3 million euros are therefore being increased to 3.5 million euros and for new orders from 125 to 130 million euros.
PSI AG develops and integrates complete solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, water, heat), cross-company production management (steel, automotive, mechanical engineering, 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.