PSI Software AG PSI with Stable New Orders and Sales
30 October 2020 - 7:10PM
RNS Non-Regulatory
TIDM0KUR
PSI Software AG
30 October 2020
PSI Software AG / Key word(s): Quarter Results/9 Month figures
PSI with Stable New Orders and Sales Also in Third Quarter
30.10.2020
The issuer is solely responsible for the content of this announcement.
PSI with Stable New Orders and Sales Also in Third Quarter
- Sales just about at level of previous year at 158.1 million euros
- EBIT, at 8.9 million euros, remains in the range of the guidance
- Operating cash flow improves by 11.4 million to 13.2 million eurosKPI (TEUR) 1 Jan. - 30 Sept. 2020 1 Jan. - 30 Sept. 2020 Change
Sales 158,139 159,718 -1.0 %
EBIT 8,874 10,479 -15.3 %
Group net income 5,961 7,147 -16.6 %
Earnings per share (EUR) 0.38 0.46 -17.4 %
Berlin, 30 October 2020 - Despite the effects of the corona crisis, the PSI Group has, with
178 million euros, almost reached in the first nine months of 2020 the record new orders of
the same period in the previous year (30 September 2019: 182 million euros). The order book
volume on 30 September 2020 was, at 159 million euros, slightly above the previous year's
value (30 September 2019: 156 million euros). Group sales of 158.1 million euros also almost
matched the previous year's figure (30 September 2019: 159.7 million euros) and, as in the
first half of the year, was greatly influenced by the energy business. The EBIT of 8.9 million
euros was 15.3% below the previous year's figure (30 September 2019: 10.5 million euros) and
thus above the guidance from March 2020 (reduction of 20%). This includes negative currency
effects and risk provisions, including for personnel matters and payment risks. Group net
income decreased to 6.0 million euros (30 September 2019: 7.1 million euros).
Energy Management (energy grids, energy trading, public transport) achieved in the first
nine months approximately 5% higher sales of 85.0 million euros (30 September 2019: 81.0 million
euros) and a 10% lower EBIT of 4.0 million euros (30 September 2019: 4.4 million euros). Demand
from energy exporting countries like Russia, the Gulf states and Malaysia continues to suffer
from low energy prices due to the pandemic. The earnings contribution from the gas grids and
energy trading businesses declined accordingly; in Southeast Asia, capacities were already
adjusted in the first quarter. Following the integration of BTC Smart Grid, which was acquired
in 2019, the software business for electricity grid operators in Central Europe and Russia
grew significantly in terms of sales and earnings. Business with software for electric bus
depots, railroads and workshops is also developing very well against the background of the
ecological transportation transition.
Sales in Production Management (metals production, industry, logistics) in the first nine
months were 7.1% below the previous year's value at 73.1 million euros (30 September 2019:
78.7 million euros). The segment's EBIT decreased by more than 11% to 6.2 million euros (30
September 2019: 7.0 million euros). The automotive segment is still suffering from the consequences
of the diesel and corona crisis. Nevertheless, with the production control system based on
the PSI platform, it has been possible to win orders from electric vehicle producers, automotive
parts suppliers and caravan manufacturers. The metals production business is coping with the
steel crisis and corona period with growing new orders from North America, China and Russia
with stable earnings. The logistics software benefited from the boom in e-commerce logistics
in Poland and Russia, although business in the German market was somewhat sluggish. In Poland,
PSI continued to record very strong new orders and good results. Poland is particularly important
as a test market for PSI's generic App Store and multi-cloud products. PSI multi-cloud products
can be delivered in seconds to all common public clouds, the private clouds of corporate customers
or even on premise. The software can also be provided in the PSI cloud. The adaptation to
individual customer requirements, often tens of thousands of parameters for industrial customers,
is carried out after delivery with easy-to-use software tools such as PSI-Click-Design and
Business Process Management.
The group's headcount increased year-on-year to 2,042 (30 September 2019: 1,981), mainly due
to new hirings in Poland. Cash flow from operating activities increased by 11.4 million euros
to 13.2 million euros (30 September 2019: 1.8 million euros). Cash and cash equivalents increased
by 10.6 million euros to 41.4 million euros (30 September 2019: 30.8 million euros) compared
to the same period of the prior year. After the acquisition of Prognos Energy GmbH in the
second quarter and NEPLAN AG at the beginning of the fourth quarter, PSI is examining further
takeover targets in the core business. With the acquisition of the network planning software
specialist NEPLAN, PSI will also better support the grid operators in network planning, equipment
utilization and maintenance optimization and further improve the market-leading functions
of grid control and field force management.
Against the background of the lockdown decided for November, the Management Board intends
to stick to the guidance given in March (slight weakening of sales and an up to 20% lower
operating result), although the current course of business indicates a better development.
The investment in rolling out App Store and multi-cloud technology through an initial set
of cloud pilot products will be further accelerated. These cloud pilot products include in
particular simulation and training packages such as the PSI Metals Virtual Factory or the
gas network simulation PSIganesi, which are increasingly in demand in the home office environment.
And they include generic platform products, including the cloud-based planning system for
finite resources (PSIasm) and a cloud-based control system (PSIjscada).
Starting in 2021, PSI intends to continue the margin increases and growth of the previous
years (until 2019). For 2021, the management expects a market recovery and in the course of
the year even a slightly excessive demand due to the customers' catching up in 2020 on equipment
investments that were not made. With advanced products and market-leading functions, PSI will
continue to make an indispensable contribution to network utilization, network reinforcement,
network stabilization, green power integration and transportation transition in Central Europe.
Based on its own software products, PSI Group develops and integrates complete solutions for
optimizing the flow of energy and material for utilities (energy networks, energy trading,
public transport) and industry (metals production, automotive, mechanical engineering, logistics).
PSI was founded in 1969 and employs 2,000 persons worldwide. www.psi.de
Contact:
PSI Software AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communications
Dircksenstraße 42-44
10178 Berlin
Germany
Phone +49 30 2801-2727
Fax +49 30 2801-1000
E-Mail: KPierschke@psi.de
30.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: PSI Software AG
Dircksenstraße 42-44
10178 Berlin
Germany
Phone: +49 (0)30 2801-0
Fax: +49 (0)30 2801-1000
E-mail: ir@psi.de
Internet: www.psi.de
ISIN: DE000A0Z1JH9
WKN: A0Z1JH
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1144193
End of News DGAP News Service
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