PSI Software AG PSI Exceeds Guidance 2020
2021年3月24日 - 5:28PM
RNSニュース (英語)
TIDM0KUR
PSI Software AG
24 March 2021
PSI Software AG / Key word(s): Annual Results
PSI Exceeds Guidance 2020 with Strong Final Quarter
The issuer is solely responsible for the content of this announcement.
PSI Exceeds Guidance 2020 with Strong Final Quarter
- Sales, at 217.8 million euros, attains just 3.3% under previous year
- EBIT 13.1% below previous year at 14.9 million euros
- Operating cash flow doubles to 24.8 million eurosKPIs (TEUR) 1 Jan. - 31 Dec. 2020 1 Jan. - 31 Dec. 2019 Change
Sales 217,795 225,180 -3.3%
EBIT 14,948 17,205 -13.1%
Group net result 10,280 14.262 -27.9%
Earnings per share (EUR) 0.66 0.91 -27.5%
Berlin, March 24, 2021 - In financial year 2020, the PSI Group almost achieved the record
sales of the previous year lacking a mere 3.3%. The year 2019 had also included 5 million
euros first-time consolidation effects and 3 million euros in third-party goods. After risk
provisions in several emerging markets, the EBIT of 14.9 million euros was a good 13% below
the previous year's figure (31 Dec. 2019: 17.2 million euros). At 27.2 million euros, earnings
before interest, taxes, depreciation and amortization (EBITDA) almost matched the prior year
(31 Dec. 2019: 28.0 million euros). Net income declined by almost 28% to 10.3 million euros
(31 Dec. 2019: 14.3 million euros) due to tax effects, and earnings per share decreased accordingly
to 0.66 euros (31 Dec. 2019: 0.91 euros). At 229 million euros, new orders were 3% below the
record level of the previous year (31 Dec. 2019: 236 million euros), while the order book
volume at the end of the year increased by 4.9% to 149 million euros (31 Dec. 2019: 142 million
euros).
Energy Management (energy grids, energy trading, public transport) increased sales by 3.7%
to 120.0 million euros (31 Dec. 2019: 115.8 million euros), but the segment's EBIT softened
to 6.0 million euros (31 Dec. 2019: 7.2 million euros), impacted by risk provisions in emerging
markets, restructuring in Malaysia, and order deferrals in Russia. In the electrical grids
business, BTC Smart Grid, acquired in 2019, achieved a turnaround as market division for integrated
utilities and industry. In gas grids and pipelines, some Russian orders were postponed due
to weak energy prices in the summer. The acquisition of PSI Prognos strengthened the meteorological
competence with more accurate feed-in forecasts of renewable energy, and the takeover of the
Swiss network planning software NEPLAN in October added further network calculations and 500
customers worldwide. The public transport business is currently enjoying high demand for hardware
and software for electric bus depots.
Sales in Production Management (raw materials, metals production, industry, logistics) declined
by 10.6% to 97.8 million euros (31 Dec. 2019: 109.4 million euros), while the EBIT was stable
at 11.8 million euros (31 Dec. 2018: 11.8 million euros) thanks to PSI platform products and
despite risk provisions. Metals production was able to compensate for the weakness in Europe
with orders from the USA and China and increase the new orders over the previous year. Automotive
& Industry used the week markets in spring 2020 for pilot projects of the new manufacturing
execution system based on the PSI Group platform. Demand for industrial and airport logistics
software slowed, while demand for consumer and parcel logistics accelerated.
The group's headcount on 31 Dec. 2020 increased by 72 to 2,056 (31 Dec. 2019: 1,984) despite
staff reductions in Malaysia, with new hires in Germany, Poland and the USA. Cash flow from
operating activities almost doubled to 24.8 million euros (31 Dec. 2019: 12.5 million euros).
The revenue share of maintenance and upgrade subscriber contracts has further increased to
36.4%. Cash and cash equivalents at the end of the year increased to 40.5 million euros (31
Dec. 2019: 38.7 million euros) despite payment of the purchase price for NEPLAN AG. As approved
by the Supervisory Board, the Executive Board will propose a dividend of 0.30 euros (previous
year: 0.05 euros) at the annual general meeting.
In the reporting year, PSI once again increased its research and development expenditures
to 27.8 million euros, around one third of which was spent on the platform strategy and a
B2B multi-cloud technology which not only delivers from the App Store to the PSI Cloud, but
also to over 100 different private clouds held by large customers. After delivery, the software
products are adapted to the customer's operations by the customer's IT department and specialist
departments, by partners and PSI consultants using intuitive workflow and dialog design tools
at runtime, and then rolled out across all affected workstations and technical systems. Although
this technology is only being marketed for one fifth of the portfolio, more than 20 million
euros of project services had already been transferred to partners and end customers in 2020.
PSI software makes a significant contribution to the integration of renewable energy into
power grids, the decarbonization of the heating and transport sectors, and the switch to more
climate-friendly, efficient and flexible production and logistics processes. The Management
Board therefore expects a continuation of the increasing demand for intelligent software products.
Provided there are no further shocks to the global economy, the PSI Group is aiming for an
operating result of over 20 million euros and an increase in new orders and sales of around
5% in 2021. If the vaccination campaigns do accelerate and the economy recovers, PSI will
grow more strongly in the second half of the year.
The PSI Group develops its own software products for integrated solutions to optimize the
flow of energy and materials for utilities (energy grids, energy trading, public transport)
and industry (metals production, automotive, mechanical engineering, logistics). PSI was founded
in 1969 and employs more than 2,000 people worldwide. www.psi.de
Contact:
PSI Software AG
Karsten Pierschke
Head of Investor Relations and Corporate Communications
Dircksenstraße 42-44
10178 Berlin
Deutschland
Phone +49 30 2801-2727
Fax +49 30 2801-1000
E-Mail: KPierschke@psi.de
24.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group
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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: 1177862
End of News DGAP News Service
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