RCS - PSI Software AG - PSI increases New Orders by 19% in 1st Quarter

PSI Software SEAnnouncement

27/04/2023 09:45

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RNS Number : 6935X  PSI Software AG  27 April 2023

 PSI Software AG / Key word(s): Quarter Results/Quarterly / Interim Statement

PSI increases New Orders by 19% in 1st Quarter

27.04.2023 / 09:05 CET/CEST

The issuer is solely responsible for the content of this announcement.

PSI increases New Orders by 19% in 1st Quarter

- Increasing demand for industrial artificial intelligence

- Sales constant at 58.2 million euros

- Group result increases by 28 % to 3.3 million euros

Performance indicators (KEUR)  Jan. 1 - March 31, 2023  Jan. 1 - March 31, 2022 (adjusted)  Change
 Sales                          58,230                   57,981                              +0.4 %
 EBIT                           4,008                    4,481                               −10.6 %
 Group net result               3,282                    2,570                               +27.7 %
 Earnings per share (EUR)       0.21                     0.16                                +31.3 %

Berlin, April 27, 2023 - The PSI Group achieved constant sales of 58.2 million
 euros in the first quarter of 2023 (March 31, 2022, adjusted: 58.0 million
 euros). The operating result (EBIT) of 4.0 million euros included about 0.5
 million euros in costs from the preparations for the intended change of legal
 form to a European stock corporation (Societas Europaeas, SE) as well as
 further burdens from long-running fixed-price projects in the business with
 municipal utilities (March 31, 2022, adjusted: 4.5 million euros). Group net
 income improved by 27.7% to 3.3 million euros due to the absence of charges
 from the Russian business activities (March 31, 2022: 2.6 million euros). At
 118 million euros, new orders were 19.2% higher than in the prior-year quarter
 (March 31, 2022: 99 million euros). At 212 million euros, the order book
 volume at March 31, 2023 exceeded the prior-year figure by 5% (March 31, 2022:
 202 million euros).

The Energy Management segment (energy grids, energy trading, public transport)
 achieved 7.6% lower sales of 29.4 million euros (March 31, 2022, adjusted:
 31.9 million euros) and a significantly lower operating result of 0.7 million
 euros (March 31, 2022, adjusted: 2.0 million euros). The Electrical Grids
 business was able to significantly increase new orders compared to the same
 quarter of the previous year, while sales and earnings were still burdened by
 long-running fixed-price projects in the municipal utility business. The
 preparation of the market-leading product PSIcontrol for higher volumes and
 better upgradeability continues to make progress; for example, the sizing will
 be dynamically configurable in the future. An important pilot order is being
 processed for the energy data portal based on the new PSI platform-based
 control system. In Southeast Asia, PSI is benefiting from the increased gas
 price and was able to significantly increase new orders, sales and earnings.

Sales in the Production Management segment (metals, industry, logistics) grew
 further by 10.2% to 28.8 million euros (March 31, 2022, adjusted: 26.1 million
 euros). The segment's operating profit increased by 42% to 3.9 million euro
 (March 31, 2022, adjusted: 2.7 million euros). In particular, the metals
 producing industry, logistics, and automotive businesses developed strongly
 and significantly increased order intake, sales and earnings, although a large
 license in the metals sector was not booked until the beginning of the second
 quarter. In order to be able to meet demand more quickly, PSI will primarily
 prepare the software for the global steel industry for the cloud-based PSI App
 Store this year. Customers and partners will thus be able to take over larger
 shares of order processing and carry out their rollouts with workflow, PSI
 Click Design and e-learning in the PSI Virtual Factory with support or
 independently.

The number of employees in the Group increased to 2,257 (March 31, 2022:
 2,182) due to targeted new hires in Germany, Poland and the USA. At 12.6
 million euros, cash flow from operating activities was more than double the
 figure for the prior-year quarter (March 31, 2022: 4.9 million euros). Cash
 and cash equivalents of 61.0 million euros (March 31, 2022: 67.8 million
 euros) will be used for the proposed dividend payment and for seasonal sales
 financing.

PSI will continue to expand business with Group rollouts and integration
 partners as planned in the coming quarters. The fixed-price business, which is
 subject to inflation and fulfillment risks, was further reduced in the first
 quarter, while sales from time and material services, maintenance/upgrade
 contracts and licenses were again increased. PSI continues to benefit from the
 growth in the North American business, now also in the wake of the Inflation
 Reduction Act, and the strong demand for optimization solutions with
 industrial artificial intelligence, which make an important contribution in
 the transformation to sustainable industrial production.

For 2023, PSI is working on recovery in the Energy Management segment.
 Production Management will continue to grow and App Store sales in particular
 will exceed ten million euros this year. The PSI Executive Board is therefore
 still planning increases in new orders and sales of up to 10% and in the
 operating result of around 20% to 25 million euros for 2023. The strategic
 developments (cloud-based App Store and Collaboration Space) will be continued
 as planned, so that the PSI Executive Board continues to aim for the long-term
 target of 54 million euros EBIT for 2026.

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 cloud-based 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

Email: KPierschke@psi.de

27.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News
 - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
 Financial/Corporate News and Press Releases.
 Archive at www.eqs-news.com

Berlin, April 27, 2023 - The PSI Group achieved constant sales of 58.2 million
euros in the first quarter of 2023 (March 31, 2022, adjusted: 58.0 million
euros). The operating result (EBIT) of 4.0 million euros included about 0.5
million euros in costs from the preparations for the intended change of legal
form to a European stock corporation (Societas Europaeas, SE) as well as
further burdens from long-running fixed-price projects in the business with
municipal utilities (March 31, 2022, adjusted: 4.5 million euros). Group net
income improved by 27.7% to 3.3 million euros due to the absence of charges
from the Russian business activities (March 31, 2022: 2.6 million euros). At
118 million euros, new orders were 19.2% higher than in the prior-year quarter
(March 31, 2022: 99 million euros). At 212 million euros, the order book
volume at March 31, 2023 exceeded the prior-year figure by 5% (March 31, 2022:
202 million euros).

The Energy Management segment (energy grids, energy trading, public transport)
achieved 7.6% lower sales of 29.4 million euros (March 31, 2022, adjusted:
31.9 million euros) and a significantly lower operating result of 0.7 million
euros (March 31, 2022, adjusted: 2.0 million euros). The Electrical Grids
business was able to significantly increase new orders compared to the same
quarter of the previous year, while sales and earnings were still burdened by
long-running fixed-price projects in the municipal utility business. The
preparation of the market-leading product PSIcontrol for higher volumes and
better upgradeability continues to make progress; for example, the sizing will
be dynamically configurable in the future. An important pilot order is being
processed for the energy data portal based on the new PSI platform-based
control system. In Southeast Asia, PSI is benefiting from the increased gas
price and was able to significantly increase new orders, sales and earnings.

Sales in the Production Management segment (metals, industry, logistics) grew
further by 10.2% to 28.8 million euros (March 31, 2022, adjusted: 26.1 million
euros). The segment's operating profit increased by 42% to 3.9 million euro
(March 31, 2022, adjusted: 2.7 million euros). In particular, the metals
producing industry, logistics, and automotive businesses developed strongly
and significantly increased order intake, sales and earnings, although a large
license in the metals sector was not booked until the beginning of the second
quarter. In order to be able to meet demand more quickly, PSI will primarily
prepare the software for the global steel industry for the cloud-based PSI App
Store this year. Customers and partners will thus be able to take over larger
shares of order processing and carry out their rollouts with workflow, PSI
Click Design and e-learning in the PSI Virtual Factory with support or
independently.

The number of employees in the Group increased to 2,257 (March 31, 2022:
2,182) due to targeted new hires in Germany, Poland and the USA. At 12.6
million euros, cash flow from operating activities was more than double the
figure for the prior-year quarter (March 31, 2022: 4.9 million euros). Cash
and cash equivalents of 61.0 million euros (March 31, 2022: 67.8 million
euros) will be used for the proposed dividend payment and for seasonal sales
financing.

PSI will continue to expand business with Group rollouts and integration
partners as planned in the coming quarters. The fixed-price business, which is
subject to inflation and fulfillment risks, was further reduced in the first
quarter, while sales from time and material services, maintenance/upgrade
contracts and licenses were again increased. PSI continues to benefit from the
growth in the North American business, now also in the wake of the Inflation
Reduction Act, and the strong demand for optimization solutions with
industrial artificial intelligence, which make an important contribution in
the transformation to sustainable industrial production.

For 2023, PSI is working on recovery in the Energy Management segment.
Production Management will continue to grow and App Store sales in particular
will exceed ten million euros this year. The PSI Executive Board is therefore
still planning increases in new orders and sales of up to 10% and in the
operating result of around 20% to 25 million euros for 2023. The strategic
developments (cloud-based App Store and Collaboration Space) will be continued
as planned, so that the PSI Executive Board continues to aim for the long-term
target of 54 million euros EBIT for 2026.

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 cloud-based 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

Email: KPierschke@psi.de

 

27.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News
- a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

 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, Hanover, Munich, Stuttgart, Tradegate Exchange
 EQS News ID:  1618305

 

 End of News  EQS News Service

1618305  27.04.2023 CET/CEST

 

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