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• New orders increase 10.1% to 196 million euros
• Sales growth of 12.3% to 177.6 million euros
• EBIT jumps 77% to € 15.7 million

BERLIN, GERMANY / ACCESSWIRE / October 29, 2021 / The PSI Group increased its new orders by 10.1% to 196 million euros in the first nine months of 2021 (Sep 30, 2020: 178 million euros). The order book at September 30, 2021 was 3.8% higher at 165 million euros compared to the previous year (September 30, 2020: 159 million euros). The Group’s turnover improved by 12.3% to 177.6 million euros (Sept. 30, 2020: 158.1 million euros), which together with Energy, Production increased also contributed to growth in the third quarter. EBIT jumped 77% to 15.7 million euros (Sept. 30, 2020: 8.9 million euros), the group’s net income even improved by 86.1% to 11.1 million euros (Sep 30, 2020: 6.0 million euros).

Energy Management (energy networks, energy trading, public transport) achieved a turnover up 15.4% to 98.1 million euros (30 Sep 2020: 85.0 million euros) and EBIT up 52% ​​to 6.0 million euros (30 Sep 2020: 4.0 million euros) during the first three quarters. In the field of electrical networks, the new Redispatch 2.0 module has been delivered to many distribution network operators and, as a result, higher sales than the previous year were achieved. Due to the fact that many regulatory changes were made just before the start date, further sales are expected during the transition period which lasts until mid-2022. Power grid control system configuration management should, like gas control system, be converted to faster upgrade services and the group’s standard time series module should be included. The new maintenance technician dispatch management based on the PSI platform demonstrated its significantly accelerated customization and automated installation in the cloud during a rail project. PSI will continue to support Germany’s largest distribution network operator as a strategic technology provider in its ambitious strategy for the digital future. The new control system, based on the PSI platform, is optimized for high performance and availability in a nationwide distribution network project. With the conversion to the new technology of the control system, the future margins of energy management are expected to approach those of production management, which are twice as high. The gas network business is seeing a growing volume of new orders in Germany, while orders from Russia have been postponed to 2022. As the rollout of upgrades for German gas suppliers continues to be automated , the software conversion to PSI platform time series management is also underway. The energy trading activity has been awarded another major contract for optimization and management of time series since the end of the third quarter.

The turnover of production management (metals, industry, logistics) during the first nine months was, at 79.4 million euros, 8.6% higher than the value of the previous year ( Sep 30, 2020: € 73.1 million). EBIT of the segment, whose products are already fully based on the PSI platform, increased 68% to 10.4 million euros (Sep 30, 2020: 6.2 million euros). As the carbon steel industry in Europe prepares to convert its production to hydrogen, electro-steel plants in North America and Europe as well as carbon steel plants in Russia and in Turkey continue to invest in software. The metals business, with its coherent internationalization strategy, continues to reliably generate growing profit margins, as the PSI platform has become increasingly efficient by allowing local partners to provide customization work. and is therefore able to concentrate on licensing, upgrade costs and consulting services. The metal production software was first delivered via the PSI App Store as a simulation package for online training. From 2022, it is planned to deliver true automated planning systems in customers’ private clouds as well as in public clouds. In a later stage, it is planned to offer complete software systems and upgrades, including installation control. The automotive and industrial sectors as well as logistics received numerous orders from regular and new customers in Germany and abroad. Combination orders, where products from multiple business units were combined on the PSI platform, were particularly well received. Further orders in the Eastern European region could be obtained through the Polish subsidiary PSI.

The number of employees of the group increased to 2,186 (September 30, 2020: 2,042), in particular due to new hires in Poland, Germany and the United States. Cash flow from operating activities was 16.3 million, approximately 23% above the figure for the previous year (30 Sep 2020: 13.2 million euros). Cash and cash equivalents increased by 14% compared to the previous year to reach 47.3 million euros (Sep 30, 2020: 41.4 million euros).

The multi-cloud PSI App Store is now being used productively for pilot customers. Currently, mainly simulation products and standard components are sold. These can be used both independently and in combination in industrial products. The PSI App Store is primarily intended to accelerate repeat customer (after-sales) business with major customers and integration partners, as well as automate subsequent purchases and upgrades.

Starting in 2022, PSI will begin reporting repeat sales of licenses from upgrade-as-a-service and software-as-a-service contracts, in addition to maintenance and license sales. Initial and repeat licenses, which can be issued automatically and with larger margins through the PSI APP Store, will also be reported in financial reports from 2022.

The outbreak of the COVID-19 pandemic in 2020 still has an impact on new orders in 2021. Given the reduced uncertainties associated with the COVID-19 pandemic and the economic recovery, many PSI customers have indicated more of orders. Unfortunately, not all of the large orders expected in the third quarter have materialized. In particular, significant changes in commodity markets as well as supply bottlenecks in some industries have resulted in order deferrals. The PSI management board expects a traditionally strong last quarter and therefore a clear exceedance of the EBIT target of more than 20 million euros announced in March. For 2022, management expects a particularly strong start with further increases in new orders and results as well as a significant increase in PSI App Store sales.

The PSI Group develops its own software for optimizing energy and material flows for public services (energy networks, energy trading, public transport) and industry (metallurgy, automotive, mechanics, logistics). Industry specific products, which are built from standard components, are sold both direct and through the multi-cloud PSI App Store and can also be customized by customers and partners themselves. PSI was founded in 1969 and employs nearly 2,200 people worldwide. www.psi.de

Contact:

PSI Software AG
Karsten Pierschke
Head of Investor Relations and
Business communication
Rue de la rue 42-44
10178 Berlin
Germany

Phone +49 30 2801-2727
Fax +49 30 2801-1000
Email: [email protected]

THE SOURCE: PSI Software AG

See the source version on accesswire.com:
https://www.accesswire.com/670319/PSI-Continues-Strong-Sales-and-EBIT-Trend-in-Third-Quarter