PSI Software AG PSI with 4.6% Sales Growth in the 1st Quarter
28 April 2022 - 6:22PM
RNS Non-Regulatory
TIDM0KUR
PSI Software AG
28 April 2022
PSI with 4.6% Sales Growth in the 1st Quarter
DGAP-News: PSI Software AG / Key word(s): Quarter Results
PSI with 4.6% Sales Growth in the 1st Quarter
28.04.2022 / 09:02 CET
The issuer is solely responsible for the content of this announcement.
PSI with 4.6% Sales Growth in the 1(st) Quarter
- Order book volume of 202 million euros slightly above the previous year's value
- Sales increase by 4.6% to 58.7 million euros
- EBIT down year-on-year due to postponed license ordersKPI (KEUR) 1 Jan. - 31 March 2022 1 Jan. - 31 March 2021 Change
Sales 58,695 56,138 +4.6 %
EBIT 3,723 4,351 -14.4 %
Group net result 2,570 3,139 -18.1 %
Earnings per share (EUR) 0.16 0.20 -20.0 %
Berlin, April 28, 2022 - The PSI Group improved sales in the first quarter of 2022 by 4.6%
to 58.7 million euros (Mar. 31, 2021: 56.1 million euros). Due to the shift of almost 3 million
euros in license orders from March to the second quarter, the operating result (EBIT) of 3.7
million euros was 14.4% below the previous year's value (Mar. 31, 2021: 4.35 million euros),
and the group net income decreased accordingly to 2.6 million euros (Mar. 31, 2021: 3.1 million
euros). At 99 million euros, new orders were 5.7% lower than in the prior-year quarter (Mar.
31, 2021: 105 million euros) due to order deferrals. At 202 million euros, the order book
volume at March 31, 2022 was slightly higher than a year earlier (March 31, 2021: 197 million
euros).
The Energy Management segment (energy grids, energy trading, public transport) achieved 9.5%
higher sales of 31.9 million euros in the first quarter (March 31, 2021: 29.1 million euros)
and a roughly constant operating result of 1.6 million euros (March 31, 2021: 1.65 million
euros). The Network business invested heavily in functions for sector coupling as well as
charging management and won further orders from major distribution network and traction power
customers. In public transport, the good order trend continued, and the gas networks business
was largely able to compensate for the loss of the Russian business with orders from existing
German customers.
Sales in the Production Management segment (metals, industry, logistics) in the first three
months were 3.4% below the previous year's figure at 26.1 million euros (March 31, 2021: 27.0
million euros). The operating profit of the segment decreased to 2.5 million euros (March
31, 2021: 3.0 million euros) due to postponed license orders. In particular, European customers
in the target sectors automotive and metals were concerned about energy price increases, inflation
and embargoes, while the metals business won further major orders in the US. In the logistics
business and in Poland, PSI increased new orders and continued to invest in the development
of the multi-cloud app store business with customers and partners.
The number of employees in the Group increased to 2,182 (March 31, 2021: 2,086) thanks to
targeted new hires in Germany, Poland and the US. PSI is winding down its business in Russia
as quickly as possible, with staff reduced or outsourced from 68 to 2 (managing directors).
Among other things, a new order for 4.5 million euros was rejected. To help Ukrainian refugees,
PSI immediately donated over 100,000 euros, procured relief supplies and granted employees
special leave. Cash flow from operating activities of 4.9 million was 60% below the figure
for the same quarter of the previous year (March 31, 2021: 12.1 million euros). Cash and cash
equivalents of 67.8 million euros (March 31, 2021: 54.1 million euros) will be used for the
proposed dividend payment and for seasonal sales financing.
PSI continued its investments in the Group platform and the PSI App Store unabated in the
first quarter. This means that the first PSI platform products are delivered not only On Premise
or in the PSI Cloud, but also in private clouds of our Group customers. After delivery, customers,
partners and PSI consultants can adapt the software products to the customer's business processes
at runtime with intuitive workflow, dialog design tools, and update them later via upgrades.
After the inflation and war shock in the first quarter, the uncertainty of customers is now
calming down, so that PSI expects postponed orders from the steel and automotive industries
for the second quarter and has already received some of them. In the Energy segment, demand
continues to grow due to the ongoing electrification trend and the integration of ever-greater
shares of renewable energy into the power grids. The PSI Executive Board therefore continues
to aim for an increase in new orders and sales of more than 10% and in the operating result
of just under 20% for 2022.
The PSI Group develops its own software products for optimizing the flow of energy and materials
for utilities (energy grids, energy trading, public transport) and industry (metals production,
automotive, mechanical engineering, logistics). The industry-specific products, which are
built from standard components, are sold both directly and via the multi-cloud PSI App Store
and can also be customized by customers and partners themselves. PSI was founded in 1969 and
employs more than 2,200 people worldwide. www.psi.de
Contact:
PSI Software AG
Karsten Pierschke
Head of Investor Relations and
Corporate Communication
Dircksenstraße 42-44
10178 Berlin
Germany
Tel. +49 30 2801-2727
Fax +49 30 2801-1000
Email: KPierschke@psi.de
28.04.2022 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News
and Press Releases.
Archive at www.dgap.de
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: 1337843
End of News DGAP News Service
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