Berlin, 11 March 2003 - The PSI Group can report sales revenues of Euro 150.7 million for fiscal year 2002 (2001: Euro 164.9 million), which is above expectations. Earnings before interest and taxation (EBIT) were in line with forecasts at Euro -12.4 million (2001: Euro -2.2 million). This figure include a total of Euro 8.7 million provisions for risks, write-offs and restructuring costs. Liquidity was up Euro 8.6 million to Euro 21.5 million (2001: Euro 12.9 million). The number of employees went down by 111 to 1,294. Although incoming orders reached the third highest level in the group’s history at Euro 136 million, they were Euro 22 million down on the last year’s figure.
Although hardware sales were down by Euro 5 million, the network management segment’s overall sales revenues were 0.5 percent higher at Euro 78.2 million (2001: Euro 77.8 million). Operating results in this segment improved by 73.7 percent to Euro 4.5 million (2001: Euro 2.6 million). Production management’s sales declined by 18.3 percent to Euro 48.3 million (2001: Euro 59.1 million) and operating results here were down by Euro 11.8 million to Euro -15 million. The information management segment’s 2002 sales revenues were 13.4 percent down at Euro 24.2 million (2001: Euro 28.0 million) and operating results Euro 0.3 million down at Euro -1.9 million.
Following the action taken during the fourth quarter and the general business trend to date during the first quarter, the new Management Board is still expecting to achieve the forecast positive results in fiscal year 2003.