PSI Software AG PSI increases New Orders by 19% in 1st Quarter
April 27 2023 - 4:41AM
RNS Non-Regulatory
TIDM0KUR
PSI Software AG
27 April 2023
PSI Software AG / Key word(s): Quarter Results/Quarterly / Interim Statement
PSI increases New Orders by 19% in 1st Quarter
27.04.2023 / 09:05 CET/CEST
The issuer is solely responsible for the content of this announcement.
PSI increases New Orders by 19% in 1st Quarter
- Increasing demand for industrial artificial intelligence
- Sales constant at 58.2 million euros
- Group result increases by 28 % to 3.3 million eurosPerformance indicators Jan. 1 - March 31, 2023 Jan. 1 - March 31, 2022 Change
(KEUR) (adjusted)
Sales 58,230 57,981 +0.4 %
EBIT 4,008 4,481 -10.6 %
Group net result 3,282 2,570 +27.7 %
Earnings per share (EUR) 0.21 0.16 +31.3 %
Berlin, April 27, 2023 - The PSI Group achieved constant sales of 58.2 million euros in the
first quarter of 2023 (March 31, 2022, adjusted: 58.0 million euros). The operating result
(EBIT) of 4.0 million euros included about 0.5 million euros in costs from the preparations
for the intended change of legal form to a European stock corporation (Societas Europaeas,
SE) as well as further burdens from long-running fixed-price projects in the business with
municipal utilities (March 31, 2022, adjusted: 4.5 million euros). Group net income improved
by 27.7% to 3.3 million euros due to the absence of charges from the Russian business activities
(March 31, 2022: 2.6 million euros). At 118 million euros, new orders were 19.2% higher than
in the prior-year quarter (March 31, 2022: 99 million euros). At 212 million euros, the order
book volume at March 31, 2023 exceeded the prior-year figure by 5% (March 31, 2022: 202 million
euros).
The Energy Management segment (energy grids, energy trading, public transport) achieved 7.6%
lower sales of 29.4 million euros (March 31, 2022, adjusted: 31.9 million euros) and a significantly
lower operating result of 0.7 million euros (March 31, 2022, adjusted: 2.0 million euros).
The Electrical Grids business was able to significantly increase new orders compared to the
same quarter of the previous year, while sales and earnings were still burdened by long-running
fixed-price projects in the municipal utility business. The preparation of the market-leading
product PSIcontrol for higher volumes and better upgradeability continues to make progress;
for example, the sizing will be dynamically configurable in the future. An important pilot
order is being processed for the energy data portal based on the new PSI platform-based control
system. In Southeast Asia, PSI is benefiting from the increased gas price and was able to
significantly increase new orders, sales and earnings.
Sales in the Production Management segment (metals, industry, logistics) grew further by
10.2% to 28.8 million euros (March 31, 2022, adjusted: 26.1 million euros). The segment's
operating profit increased by 42% to 3.9 million euro (March 31, 2022, adjusted: 2.7 million
euros). In particular, the metals producing industry, logistics, and automotive businesses
developed strongly and significantly increased order intake, sales and earnings, although
a large license in the metals sector was not booked until the beginning of the second quarter.
In order to be able to meet demand more quickly, PSI will primarily prepare the software for
the global steel industry for the cloud-based PSI App Store this year. Customers and partners
will thus be able to take over larger shares of order processing and carry out their rollouts
with workflow, PSI Click Design and e-learning in the PSI Virtual Factory with support or
independently.
The number of employees in the Group increased to 2,257 (March 31, 2022: 2,182) due to targeted
new hires in Germany, Poland and the USA. At 12.6 million euros, cash flow from operating
activities was more than double the figure for the prior-year quarter (March 31, 2022: 4.9
million euros). Cash and cash equivalents of 61.0 million euros (March 31, 2022: 67.8 million
euros) will be used for the proposed dividend payment and for seasonal sales financing.
PSI will continue to expand business with Group rollouts and integration partners as planned
in the coming quarters. The fixed-price business, which is subject to inflation and fulfillment
risks, was further reduced in the first quarter, while sales from time and material services,
maintenance/upgrade contracts and licenses were again increased. PSI continues to benefit
from the growth in the North American business, now also in the wake of the Inflation Reduction
Act, and the strong demand for optimization solutions with industrial artificial intelligence,
which make an important contribution in the transformation to sustainable industrial production.
For 2023, PSI is working on recovery in the Energy Management segment. Production Management
will continue to grow and App Store sales in particular will exceed ten million euros this
year. The PSI Executive Board is therefore still planning increases in new orders and sales
of up to 10% and in the operating result of around 20% to 25 million euros for 2023. The strategic
developments (cloud-based App Store and Collaboration Space) will be continued as planned,
so that the PSI Executive Board continues to aim for the long-term target of 54 million euros
EBIT for 2026.
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 cloud-based 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
Email: KPierschke@psi.de
27.04.2023 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 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, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1618305
End of News EQS News Service
1618305 27.04.2023 CET/CEST
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