0KUR Psi Software Se

TIDM0KUR

PSI Software AG

30 October 2020

 
PSI Software AG / Key word(s): Quarter Results/9 Month figures 
 PSI with Stable New Orders and Sales Also in Third Quarter 
 
 30.10.2020 
 The issuer is solely responsible for the content of this announcement. 
 
 PSI with Stable New Orders and Sales Also in Third Quarter 
 - Sales just about at level of previous year at 158.1 million euros 
 - EBIT, at 8.9 million euros, remains in the range of the guidance 
 - Operating cash flow improves by 11.4 million to 13.2 million eurosKPI (TEUR)                 1 Jan. - 30 Sept. 2020  1 Jan. - 30 Sept. 2020   Change 
 Sales                                     158,139                 159,718   -1.0 % 
 EBIT                                        8,874                  10,479  -15.3 % 
 Group net income                            5,961                   7,147  -16.6 % 
 Earnings per share (EUR)                     0.38                    0.46  -17.4 % 
 
 
 Berlin, 30 October 2020 - Despite the effects of the corona crisis, the PSI Group has, with 
 178 million euros, almost reached in the first nine months of 2020 the record new orders of 
 the same period in the previous year (30 September 2019: 182 million euros). The order book 
 volume on 30 September 2020 was, at 159 million euros, slightly above the previous year's 
 value (30 September 2019: 156 million euros). Group sales of 158.1 million euros also almost 
 matched the previous year's figure (30 September 2019: 159.7 million euros) and, as in the 
 first half of the year, was greatly influenced by the energy business. The EBIT of 8.9 million 
 euros was 15.3% below the previous year's figure (30 September 2019: 10.5 million euros) and 
 thus above the guidance from March 2020 (reduction of 20%). This includes negative currency 
 effects and risk provisions, including for personnel matters and payment risks. Group net 
 income decreased to 6.0 million euros (30 September 2019: 7.1 million euros). 
 
 Energy Management (energy grids, energy trading, public transport) achieved in the first 
 nine months approximately 5% higher sales of 85.0 million euros (30 September 2019: 81.0 million 
 euros) and a 10% lower EBIT of 4.0 million euros (30 September 2019: 4.4 million euros). Demand 
 from energy exporting countries like Russia, the Gulf states and Malaysia continues to suffer 
 from low energy prices due to the pandemic. The earnings contribution from the gas grids and 
 energy trading businesses declined accordingly; in Southeast Asia, capacities were already 
 adjusted in the first quarter. Following the integration of BTC Smart Grid, which was acquired 
 in 2019, the software business for electricity grid operators in Central Europe and Russia 
 grew significantly in terms of sales and earnings. Business with software for electric bus 
 depots, railroads and workshops is also developing very well against the background of the 
 ecological transportation transition. 
 Sales in Production Management (metals production, industry, logistics) in the first nine 
 months were 7.1% below the previous year's value at 73.1 million euros (30 September 2019: 
 78.7 million euros). The segment's EBIT decreased by more than 11% to 6.2 million euros (30 
 September 2019: 7.0 million euros). The automotive segment is still suffering from the consequences 
 of the diesel and corona crisis. Nevertheless, with the production control system based on 
 the PSI platform, it has been possible to win orders from electric vehicle producers, automotive 
 parts suppliers and caravan manufacturers. The metals production business is coping with the 
 steel crisis and corona period with growing new orders from North America, China and Russia 
 with stable earnings. The logistics software benefited from the boom in e-commerce logistics 
 in Poland and Russia, although business in the German market was somewhat sluggish. In Poland, 
 PSI continued to record very strong new orders and good results. Poland is particularly important 
 as a test market for PSI's generic App Store and multi-cloud products. PSI multi-cloud products 
 can be delivered in seconds to all common public clouds, the private clouds of corporate customers 
 or even on premise. The software can also be provided in the PSI cloud. The adaptation to 
 individual customer requirements, often tens of thousands of parameters for industrial customers, 
 is carried out after delivery with easy-to-use software tools such as PSI-Click-Design and 
 Business Process Management. 
 The group's headcount increased year-on-year to 2,042 (30 September 2019: 1,981), mainly due 
 to new hirings in Poland. Cash flow from operating activities increased by 11.4 million euros 
 to 13.2 million euros (30 September 2019: 1.8 million euros). Cash and cash equivalents increased 
 by 10.6 million euros to 41.4 million euros (30 September 2019: 30.8 million euros) compared 
 to the same period of the prior year. After the acquisition of Prognos Energy GmbH in the 
 second quarter and NEPLAN AG at the beginning of the fourth quarter, PSI is examining further 
 takeover targets in the core business. With the acquisition of the network planning software 
 specialist NEPLAN, PSI will also better support the grid operators in network planning, equipment 
 utilization and maintenance optimization and further improve the market-leading functions 
 of grid control and field force management. 
 Against the background of the lockdown decided for November, the Management Board intends 
 to stick to the guidance given in March (slight weakening of sales and an up to 20% lower 
 operating result), although the current course of business indicates a better development. 
 The investment in rolling out App Store and multi-cloud technology through an initial set 
 of cloud pilot products will be further accelerated. These cloud pilot products include in 
 particular simulation and training packages such as the PSI Metals Virtual Factory or the 
 gas network simulation PSIganesi, which are increasingly in demand in the home office environment. 
 And they include generic platform products, including the cloud-based planning system for 
 finite resources (PSIasm) and a cloud-based control system (PSIjscada). 
 Starting in 2021, PSI intends to continue the margin increases and growth of the previous 
 years (until 2019). For 2021, the management expects a market recovery and in the course of 
 the year even a slightly excessive demand due to the customers' catching up in 2020 on equipment 
 investments that were not made. With advanced products and market-leading functions, PSI will 
 continue to make an indispensable contribution to network utilization, network reinforcement, 
 network stabilization, green power integration and transportation transition in Central Europe. 
 Based on its own software products, PSI Group develops and integrates complete solutions for 
 optimizing the flow of energy and material for utilities (energy networks, energy trading, 
 public transport) and industry (metals production, automotive, mechanical engineering, logistics). 
 PSI was founded in 1969 and employs 2,000 persons worldwide. www.psi.de 
 
 Contact: 
 PSI Software AG 
 Karsten Pierschke 
 Head of Investor Relations and 
 Corporate Communications 
 Dircksenstraße 42-44 
 10178 Berlin 
 Germany 
 Phone +49 30 2801-2727 
 Fax +49 30 2801-1000 
 E-Mail: KPierschke@psi.de 
 
 
 30.10.2020 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:   1144193 
 
 
 
 
 
 
End of News  DGAP News Service 
 

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