RCS - PSI Software AG - PSI with 4.6% Sales Growth in the 1st Quarter

PSI Software SEAnnouncement

28/04/2022 09:30

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RNS Number : 6942J  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 orders

KPI (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

 

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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