Passenger, Baggage and Cargo Handling Airport Solutions

Berlin, 28 July 2011 – PSI Group increased its EBIT by 4 % to 3.8 million Euros in the first six months of 2011 (30 June 2010: 3.7 million Euros). The EBT increased compared to the same period for the previous year by 5 % to 3.0 million Euros (30 June 2010: 2.8 million Euros), at 1.9 million Euros the group net earnings after interest and taxes were, as a result of deferred taxes, below the value for the previous year (30 June 2010: 2.2 million Euros). Group sales were about constant at 76.2 million Euros (30 June 2010: 77.1 million Euros). The volume of new orders increased over the same period for the previous year by 4 % to 97 million Euros (30 June 2010: 93 million Euros).

Energy Management (electricity, gas, oil, heat, water) achieved 4 % higher sales of 31.7 million Euros (30 June 2010: 30.4 million Euros). The EBIT decreased as a result of high project costs and investments in systems for electrical distribution grids in Germany and particularly in exports to 2.6 million Euros (30 June 2010: 3.2 million Euros). PSI is preparing itself for the expected greater demand in Germany resulting from the change its energy policy. The gas and oil business and the business with systems for rail electricity and electrical transmission networks continue to develop very well.

Sales in Production Management (raw materials, industry, logistics) were, at 35.8 million Euros, 9 % above the value for the previous year (30 June 2010: 32.9 million Euros). The EBIT increased to 1.7 million Euros (30 June 2010: 0.4 million Euros). PSI expects further increases in sales and profitability in this segment as a result of follow-up contracts for the raw materials extraction control system.

In Infrastructure Management (transportation and security) sales decreased by 37 % to 8.7 million Euros (30 June 2010: 13.8 million Euros) as a result of the sale of the telecommunications business at the end of the year and a new procurement behaviour in Europe resulting from new prerequisites for subsidies. As in the previous year the segment had an EBIT of 0.5 million Euros. In this segment PSI was awarded major contracts in Southeast Asia in the first six months of this year, which will lead to increases in sales and EBIT in the second half of the year.

The number of employees in the Group increased as of 30 June 2011 to 1,441 (30 June 2010: 1,400), the order book volume in the Group increased significantly compared to the previous year to 125 million Euros (30 June 2010: 114 million Euros). The cash flow from operating activities also improved significantly to 1.8 million Euros (30 June 2010: –2.7 million Euros), so that the liquid funds rose to 26.1 million Euros (30 June 2010: 13.5 million Euros).

In the first six months, PSI continued to invest in products for the upcoming technical revolution in the medium and low-voltage grids of distribution grid operators. It is expected that customers will be making significant increases in investments in smart grid control in the coming years. PSI is working on continued improvements of quarterly results through better management of the corresponding pre-development and marketing costs.

As a consequence of the high volume of new orders in the fourth quarter of 2010 and the first quarter of 2011, PSI expects to have a strong second six months in 2011. On the basis of higher license earnings and an expansion of business in Eastern Europe, the management expects to achieve the year’s goal of an EBIT of 13 million Euros.

PSI AG develops and integrates complete solutions, on the basis of its own software products, for the management of energy networks (electricity, gas, oil, heat, water), cross-company production management (metals, automotive, mechanical and plant engineering, mining, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs 1,400 persons in the group.

 
 
i.V. Thorsten Gaßner
Dipl.-Inform.
Partnermanagement
 
PSI Logistics GmbH
Am Stadtrand 56
22047 Hamburg
Germany
phone Hamburg:  +49 40 696958-51
phone Dortmund: +49 231 17633-185
mobile: +49 172 5863251
t.gassner@psilogistics.com
www.psilogistics.com