PSAN PSI Software SE

TIDM0KUR

PSI Software AG

24 March 2020

 
PSI Software AG / Key word(s): Annual Results/Dividend 
 Thanks to Strong Final Quarter PSI Exceeds Targets for 2019 
 
 24-March-2020 
 Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, 
 transmitted by DGAP - a service of EQS Group AG. 
 The issuer is solely responsible for the content of this announcement. 
 
 Thanks to Strong Final Quarter PSI Exceeds Targets for 2019 
 - Sales in 2019 grows by 13 % to 225.2 million euros 
 - EBIT increased by 11.4 % to 17.2 million euros 
 - Group net result 34.7 % above previous year at 14.3 million eurosKPI (TEUR)               01 Jan. - 31 Dec. 2019  01 Jan. - 31 Dec. 2018   Change 
 Sales                                   225,180                 199,156  +13.1 % 
 EBIT                                     17,205                  15,450  +11.4 % 
 Group net result                         14,262                  10,585  +34.7 % 
 Result per share (EUR)                     0.91                    0.68  +33.8 % 
 
 
 Berlin - PSI Group increased its EBIT to 17.2 million euros (31 Dec. 2018: 15.5 million euros) 
 in financial year 2019. The EBITDA jumped by almost 40 % to 28.0 million euros (31 Dec. 2018: 
 20.1 million euros), to which the conversion to IFRS 16 also contributed 5.3 million euros. 
 The Group net result increased by almost 35 % to 14.3 million euros (31 Dec. 2018: 10.6 million 
 euros) due to fiscal effects, the result per share improved accordingly to 0.91 Euro (31 Dec. 
 2018: 0.68 Euro). Sales increased by 13.1 % to 225.2 million euros (31 Dec. 2018: 199.2 million 
 euros). The thematic fields smart grid and transportation transition grew by 15 %, industry 
 4.0 sectors increased organically by 10 %, despite the steel and diesel crisis in Europe. 
 New orders increased by 8.8 % to 236 million euros (31 Dec. 2018: 217 million euros), the 
 order book volume at the end of the year increased by 2.2 % to 142 million euros (31 Dec. 
 2018: 139 million euros). 
 
 Energy Management (energy networks, energy trading, public transportation) increased sales 
 by 16.1 % to 115.8 million euros (31 Dec. 2018: 99.7 million euros) after the acquisition 
 of BTC Smart Grid, the EBIT for the segment improved to 7.2 million euros (31 Dec. 2018: 6.8 
 million euros), despite the 2.1 million in integration costs. The electrical and integrated 
 grids business increased its new orders and sales significantly and completed the integration 
 of the acquired activities. The gas networks and pipelines business increased its new orders 
 and sales, also thanks to large orders from Russia, and results recovered. The PSI subsidiary 
 in Southeast Asia continued its austerity measures. Public transport grew by 45 %, doubled 
 its earnings and currently has a top seller for the German and French markets with the new 
 electric bus charging and depot management system. 
 Sales in Production Management (raw materials, metals, industry, logistics) grew organically 
 by 9.9 % to 109.4 million euros (31 Dec. 2018: 99.5 million euros), the EBIT increased by 
 18 % to 11.8 million euros (31 Dec. 2018: 10.0 million euros). Metals production business 
 was able to compensate for the weakness in Europe with major orders from the USA and China. 
 Automotive & industry came through the year of the diesel and particulate matter crisis well 
 with numerous upgrade projects. Logistics grew by 28 % with strong partner business. All segments 
 significantly improved their results based on the migration of their products to the PSI Java 
 Framework and a growing partner structure. In Poland, PSI continued to grow with orders for 
 logistics, production and energy networks. 
 The number of employees in the group on 31 Dec. 2019 rose by 197 to 1,984 (31 Dec. 2018: 1,787) 
 compared with the previous year due to new hires and the acquisition in the Energy segment. 
 Cash flow from operating activities, at EUR 12.5 million (Dec. 31, 2018: EUR 19.0 million) 
 was down from the strong prior-year figure, not least due to growth financing. The share of 
 revenues from maintenance and upgrade subscriber contracts was further increased to 33.5%. 
 After payment of the purchase price for the BTC Smart Grid, liquid funds at the end of the 
 year decreased to 38.7 million euros (31 Dec. 2018: 44.6 million euros), so that PSI continues 
 to have sufficient funds for targeted acquisitions. The Management Board will propose a dividend 
 of 0.05 euro (previous year: 0.25 euro) to the Annual General Meeting in consultation with 
 the Supervisory Board. The effects of the current corona crisis cannot be conclusively quantified 
 at this point in time from the perspective of the Executive Board and the Supervisory Board. 
 The Federal Government has identified an exceptional emergency situation. In such a situation, 
 the Management Board and Supervisory Board consider it advisable, as a precaution, to leave 
 a higher proportion of the profit than in previous years in the company. 
 PSI again spent 24.0 million euros on research and development in the reporting year, about 
 one third of which was for the product and platform strategy. Two thirds of the products have 
 been converted to the PSI Java platform, and intensive work is being done on the remaining 
 third. The graphical user interface of the platform also runs without adjustment expenses 
 in the Internet (or in intranets) and on mobile devices. PSI is currently testing an app store 
 for the platform products, from which partners and regular customers can choose automatic 
 delivery to various clouds. 
 PSI will participate in the climate protection programme of the German federal government 
 (energy transition, heat transition, transport transition) and the Green Deal in the European 
 Union. PSI software contributes significantly to the integration of renewable energy into 
 the electricity networks. The gas network will become the sole failure guarantor and be expanded 
 in the future by green gases and a hydrogen network. 
 Prior to the corona crisis, PSI had aimed for a continuation of growth and a further increase 
 in the EBIT by 10% in 2020. The corona virus will lead to delays in the awarding of contracts, 
 but for many customers PSI is also important in defending against the crisis. PSI had already 
 equipped all 2,000 employees in advance with notebooks and remote access for home offices. 
 Due to the high volume of orders on hand, management is therefore currently expecting a slight 
 weakening of sales and a one-time 20% decrease in the EBIT. 
 Contact 
 PSI Software AG 
 Karsten Pierschke 
 Head of Investor Relations and 
 Corporate Communication 
 Dircksenstraße 42-44 
 10178 Berlin 
 Germany 
 Phone +49 30 2801-2727 
 Fax +49 30 2801-1000 
 Email: KPierschke@psi.de 
 
 
 End of ad hoc announcement 
 
 Information and Explanation of the Issuer to this News: 
 
 On the basis of its own software products, the PSI Group develops and integrates complete 
 solutions for optimizing the flow of energy and material at suppliers (energy networks, energy 
 trading, public passenger transport) and industry (raw material extraction, metal production, 
 automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs 2,000 
 persons worldwide. www.psi.de 
 
 24-March-2020 CET/CEST 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:   1004819 
 
 
 
 
 
 
End of Announcement  DGAP News Service 
 
 
 
 

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