Berlin, 30 October 2003 – Preliminary calculations show that PSI has improved its operative earnings (EBIT) in the first nine months of 2003 by 8.9 million euro to approx. –1.8 million (–10.7 million euro last year). Despite the slowdown in the hardware business and deconsolidations, the company had sales of almost 100 million euro. (109.2 million euro last year). The quarterly results were burdened by an almost 1 million euro loss due to weak results in the telecommunications and public management segments. Following a weak August for the product and consultancy business, activity picked up in September and October, with a number of large projects among other things.
Export sales in Telecommunications are being expanded. Public Management is being restructured into three profit centers. Since the PSIPENTA segment (12% of group sales) did not quite break even in the third quarter, the announced cost adjustments were implemented in August. GSI with an emphasis on MES, clearly broke even. Investments were made in new PSIpenta versions for project business (PSIprofessional) and maintenance (PSImaintenance). Company results also include the costs for the development and launch of new master control systems for the manufacturing and steel industries. As a precaution, the projected annual EBIT has been set back to between 0 and 2 million euro. On September 30, the number of employees at PSI was 1,226 (30 September 2002: 1,324). The comprehensive third quarter report will be made public on 10 November 2003, as announced.
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 more than 1,200 persons in the group. www.psi.de