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DGAP-News: PSI with Improved Net Result and Strong Cash Flow after Nine Months

DGAP-News: PSI with Improved Net Result and Strong Cash Flow after Nine
Months DGAP-News: PSI Aktiengesellschaft für Produkte und Systeme der
Informationstechnologie / Key word(s): Quarter Results/9-month figures PSI
with Improved Net Result and Strong Cash Flow after Nine Months 31.10.2016
/ 09:02 The issuer is solely responsible for the content of this
PSI with Improved Net Result and Strong Cash Flow after Nine Months - Group
net result increases by 3 % despite lower sales - Sales 6 % below previous
year due to capacity adjustments in Southeast Asia - Cash flow from
operating activities improves by 370 %

(TEUR) 1 Jan. - 30 Sept. 1 Jan. - 30 Sept. Change
2016 2015
Sales 127,861 136,614 -6 %
EBIT 6,920 7,271 -5 %
Group EBIT 3,900 3,801 +3 %
Earnings per share 0.25 0.24 +4 %

PSI Group attained 6 % lower sales of 127.9 million Euros (30 September
2015: 136.6 million Euros) in the first nine months of 2016 due to
adjustments of capacity in Southeast Asia. The EBIT was, at 6.9 million
Euros (30 September 2015: 7.3 million Euros), 5 % below the level of the
previous year, the earnings before taxes were improved by better financial
earnings by 12 % to 6.5 million Euros (30 September 2015: 5.8 million
Euros). With 3.9 million Euros, the Group net result was 3 % above the
level of the previous year (30 September 2015: 3.8 million Euros), the
earnings per share improved accordingly to 25 Eurocents (30 September 2015:
24 eurocents). Due to sales price discipline despite weak market
environment and due to regulatory effects, the level of new orders was, at
134 million Euros, 10 % lower (30 September 2015: 149 million Euros). The
order book volume on 30 September 2016 was, at 132 million Euros, 3 % above
the volume of the previous year (30 September 2015: 128 million Euros).
Energy Management (energy networks, energy trading) achieved 2 % lower
sales of 48.3 million Euros in the first nine months (30 September 2015:
49.1 million Euros), the EBIT for the segment remained constant at 3.5
million Euros. The electrical energy business continued to increase sales
and earnings. Important contracts were won in neighbouring European
countries. The power suppliers of two million cities were equipped with the
new Field Force software with big success. This software is further
migrated to the Group Java platform to connect it to Industry 4.0
production management applications. In the gas and oil business, demand
recovers slowly following the drop in commodity prices in the first
quarter, in particular with an upgrade order from the German market leader
as well as with new orders from Russia. In energy trading, an important
license order by a gas and hydro power operator is only booked in the
fourth quarter so the sales and EBIT for 30 September was slightly below
the level of the previous year. Sales in Production Management (raw
materials, metals production, automotive, logistics) during the first nine
months were, at 63.0 million Euros, 4 % below the value for the previous
year (30 September 2015: 65.6 million Euros). The EBIT was increased by 15
% to 5.2 million Euros (30 September 2015: 4.5 million Euros). In the mines
and roads business, new orders were processed in traffic management. The
metals business attained additional rollout contracts from major steel
companies despite the ongoing global steel crisis and improved the margin
on the basis of slightly lower sales. The automotive and industry business
won important major contracts in the field of rail vehicle construction and
vehicle maintenance and improved the result. Logistics increased sales and
invested in a new SaaS/ Cloud version of its logistics software migrated to
the Group Java platform. In Infrastructure Management (transportation and
security) there was a distinct decrease in sales to 16.5 million Euros (30
September 2015: 21.9 million Euros). The EBIT decreased to -0.9 million
Euros (30 September 2015: 0 million Euros) despite the good result of the
public transportation business. In Southeast Asia PSI is moving the
expansion of the software share of sales after adjustments in the
capital-intensive hardware business forward. A SaaS/Cloud standard, based
on the Group's Java platform, was developed for a large telecommunications
company for the rapidly growing smart city market as well as a web portal
for grid shutdown requests for an energy utility. After capacity
adjustments in Asia and despite new hires in Europe, the number of
employees in the Group decreased to 1,632 on 30 September 2016 (30
September 2015: 1,665). PSI is particularly looking for software
salespeople in the energy network and automotive business. The cash flow
from operating activities improved by 3.3 million Euros to 4.2 million
Euros (30 September 2015: 0.9 million Euros). Liquidity on 30 September
2016 increased to 35.9 million Euros (30 September 2015: 29.4 million
Euros). PSI is actively seeking and examines targets for acquisition in the
fields of energy grids and automotive and logistics. Above all in
Production Management, the implementation of a number of pilot projects
based on the migration to the Java Group platform is well advanced so that
from 2017 existing customers will be migrated and new customers will be
addressed. The PSI board is confident that the target range for the EBIT
formulated in the 2015 annual report will be achieved. In the market
weakened by commodity prices and regulation, PSI expects the order intake
and sales to be slightly below the prior-year level after adjustment of the
low-margin hardware business and with continued price discipline. On the
basis of its own software products, PSI AG develops and integrates complete
solutions for energy management (gas, oil, electricity, heat, water, energy
trading), production management (mining, metals, automotive, mechanical
engineering, logistics) and infrastructure management for transport and
safety. PSI was founded in 1969 and employs 1,650 persons worldwide. PSI AG Karsten Pierschke Head of Investor Relations and
Corporate Communication Dircksenstraße 42-44 10178 Berlin Phone +49 30
2801-2727 Fax +49 30 2801-1000 E-Mail:
31.10.2016 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
Language: English Company: PSI Aktiengesellschaft für Produkte und Systeme
der Informationstechnologie Dircksenstraße 42-44 10178 Berlin Germany
Phone: +49 (0)30 2801-0 Fax: +49 (0)30 2801-1000 E-mail:
Internet: ISIN: DE000A0Z1JH9 WKN: A0Z1JH Listed: Regulated
Market in Frankfurt (Prime Standard); Regulated Unofficial Market in
Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of
News DGAP News Service
515833 31.10.2016

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