Berlin, 12 October 2004 – PSI increased new orders in the third quarter of 2004 by 19% to 31 million euros (Q3-2003: 26 million euros) compared to the same period of the previous year. Compared to the second quarter of 2004 the increase is 41% (Q2-2004: 22 million euros). With 91 million euros in the first nine months of the current year the new orders were also above the value of 90 million euros for the previous year. The significantly improved performance of Production Management and the increase in new orders in the field of electrical energy since the end of the second quarter were essential factors in the increase of new orders. The number of employees on 30 September had decreased by 8% to 1,131 (2003: 1,226) compared to the previous year. Liquidity increased compared to 30 June 2004 by 16% from 11.6 to 13.5 million euros.
The measures introduced in the fields of Telecommunications and Gas/Oil to improve profits following poor business were concluded in the third quarter. After one-off costs of 1.5 million euros in the third quarter, which could be compensated only partly by the improved performance of other business units, these measures will have a positive impact on the profit situation as of the fourth quarter.
In the litigation involving the Basis II project, which was decided against PSI in the appeal and reduced profits by 4.2 million euros, PSI has decided to pursue further litigation. The report on the third quarter of 2004 will be published, as planned, on 2 November and will, for the first time, apply the IFRS/IAS accounting standards.
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 1,150 persons in the group.