RCS - PSI Software SE - Quarter Results

PSI Software SEAnnouncement

30/08/2024 09:45

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RNS Number : 3177C  PSI Software SE  30 August 2024

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

PSI in the 1st quarter with burdens from cyberattack and stable cash flow

30.08.2024

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

PSI in the 1(st) quarter with burdens from cyberattack and stable cash flow

- Sales reduced by 13.7% to 50.3 million euros due to cyber attack

- Operating result negative at −14.8 million euros as a result of the cyber
 attack

- Operating cash flow improved by 25% to 15.9 million euros

 

Performance indicators (KEUR)  Jan. 1 - March 31, 2024  Jan. 1 - March 31, 2023  Change
 Sales                          50,268                   58,230                   −13.7%
 EBIT                           −14,788                  4,008                    >100%
 Group net result               −16,410                  3,282                    >100%
 Earnings per share (EUR)       −1.06                    0.21                     >100%

Berlin, August 30, 2024 - PSI Group achieved 13.7% lower sales of 50.3 million
 euros in the first quarter of 2024 (March 31, 2023: 58.2 million euros). The
 operating result (EBIT) was negatively impacted by the cyberattack in February
 2024 and was clearly negative at −14.8 million euros (March 31, 2023: 4.0
 million euros). The consolidated result was correspondingly −16.4 million
 euros (March 31, 2023: 3.3 million euros). Incoming orders fell by 19.5%
 year-on-year to 95 million euros as a result of the cyberattack (March 31,
 2023: 118 million euros). The order backlog at March 31, 2024 was on a par
 with the previous year at 212 million euros (March 31, 2023: 212 million
 euros).

The Energy Management segment (energy grids, energy trading, public transport)
 achieved 19.3% lower sales of 23.8 million euros (March 31, 2023: 29.4 million
 euros) and a significantly lower operating result of −11.1 million euros
 (March 31, 2023: 0.7 million euros). With the exception of the PSI subsidiary
 in Southeast Asia, all of the segment's business units were severely affected
 by the cyberattack from mid-February onwards.

Sales in the Production Management segment (metals, industry, logistics)
 decreased by 8.0% to 23.8 million euros (March 31, 2023: 28.8 million euros).
 The segment's operating result deteriorated to −2.9 million euros (March 31,
 2023: 3.9 million euros). Although all Production Management business units
 were also affected by the cyberattack, the impact 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 2,335 (March 31,
 2023: 2,257). Cash flow from operating activities improved by 25% year-on-year
 to 15.9 million euros (March 31, 2023: 12.7 million euros). At 62.8 million
 euros, cash and cash equivalents were 1.8 million euros higher than in the
 previous year (31/03/2023: 61.0 million euros).

PSI Group was the target of a cyberattack in February 2024. The majority of
 the PSI Group's IT systems were taken offline and had to be shut down. PSI
 Group was temporarily only able to carry out central activities of its
 business model to a limited extent. In the meantime, productive operations
 have been largely resumed since the beginning of May. In the course of the
 restart, further measures were adopted which will significantly increase the
 security of the IT systems as part of a revised IT strategy.

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

30.08.2024 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, August 30, 2024 - PSI Group achieved 13.7% lower sales of 50.3 million
euros in the first quarter of 2024 (March 31, 2023: 58.2 million euros). The
operating result (EBIT) was negatively impacted by the cyberattack in February
2024 and was clearly negative at −14.8 million euros (March 31, 2023: 4.0
million euros). The consolidated result was correspondingly −16.4 million
euros (March 31, 2023: 3.3 million euros). Incoming orders fell by 19.5%
year-on-year to 95 million euros as a result of the cyberattack (March 31,
2023: 118 million euros). The order backlog at March 31, 2024 was on a par
with the previous year at 212 million euros (March 31, 2023: 212 million
euros).

The Energy Management segment (energy grids, energy trading, public transport)
achieved 19.3% lower sales of 23.8 million euros (March 31, 2023: 29.4 million
euros) and a significantly lower operating result of −11.1 million euros
(March 31, 2023: 0.7 million euros). With the exception of the PSI subsidiary
in Southeast Asia, all of the segment's business units were severely affected
by the cyberattack from mid-February onwards.

Sales in the Production Management segment (metals, industry, logistics)
decreased by 8.0% to 23.8 million euros (March 31, 2023: 28.8 million euros).
The segment's operating result deteriorated to −2.9 million euros (March 31,
2023: 3.9 million euros). Although all Production Management business units
were also affected by the cyberattack, the impact 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 2,335 (March 31,
2023: 2,257). Cash flow from operating activities improved by 25% year-on-year
to 15.9 million euros (March 31, 2023: 12.7 million euros). At 62.8 million
euros, cash and cash equivalents were 1.8 million euros higher than in the
previous year (31/03/2023: 61.0 million euros).

PSI Group was the target of a cyberattack in February 2024. The majority of
the PSI Group's IT systems were taken offline and had to be shut down. PSI
Group was temporarily only able to carry out central activities of its
business model to a limited extent. In the meantime, productive operations
have been largely resumed since the beginning of May. In the course of the
restart, further measures were adopted which will significantly increase the
security of the IT systems as part of a revised IT strategy.

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

 

30.08.2024 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 SE
               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:  1978713

 

 End of News  EQS News Service

 

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