Berlin, 29 July 2008 – The PSI Group increased its EBIT in the first half of 2008 to 2.7 million euros (first six months of 2007: 1.8 million euros). The pre-tax profit increased to 2.2 million euros (first six months of 2007: 1.3 million euros), the Group net result to 1.9 million euros (first six months of 2007: 0.7 million euros). As a result of the sale of the government business in mid-2007 and the lower portion of 3rd party products and services, Group sales, at 57.7 million euros, were slightly below the year before (first six months of 2007: 60.5 million euros). Adjusted for these effects, this represents a growth of about 5 percent over the first six months of 2007. The volume of new orders increased by 8 percent to 78 million euros (first six months of 2007: 72 million euros), the order book volume increased by 15 percent to 98 million euros (30 June 2007: 85 million euros).
The Energy Management segment (electricity, gas, oil, heat) had sales of 25.4 million euros (first six months of 2007: 26.3 million euros). The EBIT was, with 1.6 million euros, above the value for the previous year (first six months of 2007: 1.3 million euros). In the electrical energy business, important orders were attained from Germany and Asia. PSI is expecting additional important export orders in the electrical energy and gas business units from Russia and other regions in the coming quarters.
Sales in the Production Management segment (industry, logistics) were, at 24.7 million euros, at about the same level as the previous year (first six months of 2007: 25.1 million euros). The EBIT doubled compared to the previous year to 1.0 million euros (first six months of 2007: 0.5 million euros). The steel industry business increased the most again, further expanding its market position, especially internationally, with numerous important contracts.
In Infrastructure Management (traffic, security, telecommunication) sales decreased due to the smaller portion of hardware and the sale of the government business to 7.6 million euros (first six months of 2007: 9.2 million euros). The EBIT improved slightly to 0.2 million euros (first six months of 2007: 0.1 million euros).
The number of employees on 30 June 2008 was, with 1,053, slightly below the number for the previous year (30 June 2007: 1,058). PSI plans new hires until the end of the year, with a focus on export. Liquid funds on 30 June 2008 were, with 18.3 million euros, about 50 percent higher than in the previous year (30 June 2007: 12.1 million euros).
The share of exports in new orders at PSI increased to over 30 percent in the first six months of 2008. PSI is profiting from the high cost of energy and raw materials which are leading to additional expansion and efficiency investments, above all in the energy and heavy industries. PSI has started into the second half of the year with orders of almost 100 million euros and a very well-filled sales pipeline. The management therefore reconfirms its annual goals of about 130 million euros in sales and an EBIT of more than 5 million euros. As announced, the decision to raise the annual forecast will be made in the course of the 3rd quarter.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, water, heat), cross-company production management (steel, mechanical engineering, automotive, 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.