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PSI Software SE / Key word(s): Half Year
Results/Half Year Report
PSI Business Shows First Signs of Stabilization in the 2nd
Quarter
06.09.2024
The issuer is solely responsible for the content of this
announcement.
PSI Business
Shows First Signs of Stabilization in the
2nd Quarter
- Incoming orders in the second quarter up 16% on the same quarter
of the previous year at 59 million euros
- Sales stabilize at 62 million euros in the second quarter
- Operating result in the Production Management segment positive
again in the second quarter, but still negative overall at -4.6
million euros
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Performance
indicators (KEUR)
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Jan. 1 - June
30, 2024
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Jan. 1 - June
30, 2023
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Change
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Sales
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50,268
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58,230
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−13.7%
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EBIT
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−14,788
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4,008
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>100%
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Group net result
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−16,410
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3,282
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>100%
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Earnings per share (EUR)
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−1.06
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0.21
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>100%
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Berlin, September 6, 2024 - PSI
Group achieved 5.8 % lower sales of 112.3 million euros in the
first half of 2024 (June 30, 2023: 119.3 million euros). In the
second quarter of 2024, sales improved slightly to 62.0 million
euros (June 30, 2023: 61.0 million euros) despite the effects of
the cyberattack in February 2024. The operating result (EBIT) was
still negative in the second quarter at −4.6 million euros (April
1-June 30, 2023: −9.4 million euros), but improved compared to the
same quarter of the previous year and the first quarter of 2024. In
the first half of 2024, it was clearly negative at −19.4 million
euros (June 30, 2023: −5.4 million euros) following the impact of
the cyberattack. The consolidated result was correspondingly −22.6
million (June 30, 2023: −8.7 million euros). Incoming orders
decreased by 8.9% year-on-year to 154 million euros (June 30, 2023:
169 million euros) as a result of the cyberattack; in the second
quarter, they improved by 15.7% year-on-year to 59 million euros
(April 1-June 30, 2023: 51 million euros). At 211 million euros,
the order backlog as at June 30, 2024 exceeded the prior-year
figure by 7.1% (June 30, 2023: EUR 197 million).
The Energy Management segment (energy grids, energy trading, public
transport) achieved 7.6% lower sales of 53.4 million euros (June
30, 2023: 57.8 million euros) and a significantly lower operating
result of −16.2 million euros (June 30, 2023: −8.2 million euros).
Although the segment's business gradually returned to normal over
the course of the quarter, it was still clearly impacted by the
consequences of the cyberattack.
Sales in the Production Management segment (metals, industry,
logistics) decreased by 4.2% to 58.9 million euros in the first
half of the year (June 30, 2023: 61.5 million euros). The segment's
operating result deteriorated to −1.3 million euros (June 30, 2023:
8.1 million euros), but the segment returned to profit in the
second quarter. Although Production Management also continued to
suffer from the consequences of the cyberattack, the overall
negative effect on sales and earnings was lower than in Energy
Management due to the more product-based business.
The number of employees in the Group increased slightly to 2,324
(June 30, 2023: 2,273). Cash flow from operating activities was
negative at −17.6 million euros as a result of the cyberattack
(June 30, 2023: 2.1 million euros). At 38.0 million euros, cash and
cash equivalents were 13.5 million euros below the previous year's
figure (June 30, 2023: 51.5 million euros), offset by higher
current financial liabilities of 14.4 million euros (December 31,
2023: 2.1 million euros).
Following the cyberattack in February 2024 and the restart of the
renewed IT systems, productive operations have largely resumed
since the beginning of May and have continued to normalize since
then. In the course of the restart, further measures were adopted
that will significantly increase the security of the IT systems as
part of a revised IT strategy. As announced in June 2024, the PSI
Group intends to streamline its organizational structure by merging
the German subsidiaries into PSI Software SE. The structural
simplification will facilitate the PSI-wide harmonization of
business processes, tap synergy potential and improve the overall
scalability of the business.
As already announced at the beginning of June, the Executive Board
expects, taking into account the negative effects of the
cyberattack, a reduction in sales of around 20 to 30 million euros
and a negative operating result in the upper single-digit to lower
double-digit million range for the full year.
The PSI
Group develops software products for optimizing the
flow of energy and materials for utilities and industry. As an
independent software producer with more than 2,300 employees, PSI
has been a technology leader since 1969 for process control systems
that ensure sustainable energy supply, mobility and production by
combining AI methods with industrially proven optimization methods.
The innovative industry products can be operated on-premises or in
the cloud. www.psi.de
Contact:
PSI Software SE
Karsten Pierschke
Head of Investor Relations and Corporate Communication
Dircksenstraße 42-44
10178 Berlin
Germany
Tel. +49 30 2801-2727
Email: KPierschke@psi.de
06.09.2024 CET/CEST Dissemination of a Corporate
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