Berlin, 3 May 2005 – The PSI group closed the first quarter of 2005 as predicted with an EBIT of 0.2 million euros (Q1-2004: –1.6 million euros) and a balanced group result (Q1 2004: –1.9 million euros). Sales for the first three months of the year were, at 28.4 million euros, slightly below the figure for last year (Q1 2004: 29.9 million euros). On 31 March 2005 the PSI Group employed 1,065 persons (31 March 2004: 1,149).
In the Network Management segment (energy, telecommunication, traffic) the recovery continued in the first quarter. Sales decreased to 15.6 million euros (2004: 16.4 million euros); the EBIT improved to 0.3 million euros (2004: –0.1 million euros). The Production Management segment (industry, logistics), with 0.3 million euros (2004: –1.6 million euros), had the third positive quarter in a row. Sales in Production Management increased to 11.0 million euros (2004: 9.9 million euros). In Information Management (government, services) sales decreased to 1.9 million euros (2004: 3.7 million euros) and the EBIT to –0.5 million euros (2004: 0.1 million euros). This segment still contained PK Software Engineering, which has been sold off, in the figures for the same quarter of last year.
The volume of new orders in the group in the first three months was 32 million euros (2004: 39 million euros). The order inventory increased compared to 31 December 2004 by 4 million euros to 77 million euros.
The group’s equity capital ratio increased as a result of the successfully completed capital increase from 25.5 to 29.6%. Liquidity on 31 March 2005 increased compared to the previous year by more than 10 million euros to 24.3 million euros (31 March 2004: 14.1 million euros) after payment of the purchase of the minority shares of the steel software subsidiary PSI-BT.
The Board expects a further recovery of the Network Management segment and a continuation of the positive trend in Production Management. In Information Management there will be a decrease in the rental burden of 0.25 million euros in the second quarter. In this segment PSI is continuing the establishment of the new business “Control Systems for Environmental and Disaster Protection” and expects additional orders here. By merging offices additional cost-savings will be accomplished in the course of the year. In the second quarter a number of decision s will be made concerning major contracts in all the segments, so that a continuation of the positive trend can be expected as a whole.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of large networks (electricity, gas, oil, telecommunications, transport), cross-company production management (steel, chemicals, machinery, automotive, logistics) and information management for government and service providers. PSI was founded in 1969 and currently employs 1,065 persons in the group.