Berlin, 28 April 2010 – PSI Group has increased its earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first quarter of 2010 by 16% to 2.8 million Euros (31.03.2009: 2.4 million Euros) and its earnings before interest and taxes (EBIT) by 3 % to 1.8 million Euros (31.03.2009: 1.7 million Euros). Consolidated earnings after interest and taxes dropped slightly to 1.2 million Euros (31.03.2009: 1.3 million Euros), while consolidated sales rose by 21 % to 37.1 million Euros (31.03.2009: 30.6 million Euros). Incoming orders were up 7 % compared to the same period last year at 45 million Euros (31.03.2009: 42 million Euros), the order backlog dropped to 105 million Euros (31.03.2009: 112 million Euros).
The Energy Management segment (electricity, gas, oil, heat) achieved 14 % higher sales of 15.5 million Euros (31.03.2009: 13.6 million Euros). The segment’s operating result was further increased to 1.5 million Euros (31.03.2009: 0.9 million Euros). Key domestic and export projects were accepted and carried out in this segment. Following a limited number of order placements in the previous year, PSI recorded an increase in demand for intelligent network management solutions and expects further major orders in the coming quarters.
At 15.5 million Euros, sales in the Production Management segment (raw materials, industry, logistics) were up 7 % on the year (31.03.2009: 14.5 million Euros). The operating result dropped to 0.2 million Euros (31.03.2009: 0.7 million Euros), falling considerably short of expectations. The performance of the logistics subsidiary and non-recurrent expenditure in this business had a particularly negative effect on the segment. Once again, positive developments were recorded in the PSI Metals division, in which all activities are continuing to be pooled under one roof.
In Infrastructure Management (traffic, safety, telecommunications), which the inControl Tech Group became a part of in 2009, sales more than doubled to 6.1 million Euros (31.03.2009: 2.4 million Euros). The operating result increased to 0.3 million Euros (31.03.2009: 0.2 million Euros). This includes further investments in the newly founded Cellls GmbH in the first half of 2010. The seasonal nature of Infrastructure Management was further emphasised by inControl Tech Group. In the coming quarters, PSI expects demand for infrastructure solutions and traffic systems to increase, especially in South East Asia.
The number of Group employees as at 31.03.2010 increased to 1,398 (31.03.2009: 1,132) as a result of acquisitions in the previous year and targeted new recruitments.
Over the past few months, PSI has observed a renewed increase in demand for energy market solutions and increasing efficiency in heavy industry. Management is expecting further growth drivers, especially in the Gulf region as well as Germany and Europe, as a result of creating European super grids and intelligent energy consumption control using smart grids.
PSI is confirming its annual targets for 2010 of 160 million Euros in sales and an operating result of 10 million Euros.
PSI AG develops and integrates complete solutions, on the basis of its own software products, for the management of energy networks (electricity, gas, oil, heat, water), cross-company production management (metals, automotive, mechanical and plant engineering, mining, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and employs 1,400 persons in the group.