DGAP-News: PSI with One-off Expenditures and Incre

DGAP-News: PSI Aktiengesellschaft / Key word(s): Quarter Results PSI with One-off Expenditures and Increase in Sales in Third Quarter 29.10.2013 / 09:16 --------------------------------------------------------------------- PSI with One-off Expenditures and Increase in Sales in Third Quarter - Group sales increase by 2% to 129.1 million Euros - New orders, with 143 million Euros, 11% higher than sales - EBIT, at 0.8 million Euros, well below previous year due to one-off expenditures - Cash flow from operating activities improves by 1.6 million Euros to -2.8 million Euros PSI Group improved its sales in the first nine months of 2013 by 2% to 129.1 million Euros (30 Sept. 2012: 126.7 million Euros). The EBIT decreased, as previously announced in September, to 0.8 million Euros (30 Sept. 2012: 7.5 million Euros) as a result of one-off expenditures. The group net result dropped significantly to -2.8 million Euros (30 Sept. 2012: 5.5 million Euros). Along with the operative one-off encumbrances, this also includes high deferred taxes and a one-off tax expenditure of 0.6 million Euros resulting from probable dissipation of losses carried forward from the short-term shareholding of above 25% in PSI AG by an investor in 2009. The volume of new orders, at 143 million Euros, was approximately equivalent to the level of the previous year (30 Sept. 2012: 145 million Euros), the order book volume on 30 September decreased to 124 million Euros (30 Sept. 2012: 132 million Euros). Energy Management (gas, oil, electricity, heat, energy trading) attained 3% lower sales of 43.1 million Euros in the first nine months (30 Sept. 2012: 44.5 million Euros). The segment's EBIT was, at -1 million Euros, significantly below the result for the previous year (30 Sept. 2012: 2.1 million Euros). The gas and oil business confirmed the good results of the previous quarters; the energy trading systems business was able to continue to improve its result. The electrical energy business continues to suffer under the investment backlog in energy grids and was also encumbered by a value adjustment of 0.8 million Euros from a latent risk from 2009 and increased one-off expenditures for the development of an energy management system for rail electricity. Sales in Production Management (raw materials, industry, logistics) were, at 63.3 million Euros in the first nine months, slightly below those of the previous year (30 Sept. 2012: 64.2 million Euros). The EBIT decreased to 0.3 million Euros (30 Sept. 2012: 4.5 million Euros) as a result of the development of a transportation management system for logistics service providers. The good development continued especially in the metals industry business, while PSI Logistics encumbered the segment with higher development costs. In the metals industry, PSI profited from the strong market position and the reduced energy costs from shale gas that have resulted in significant investments in the steel and aluminium industry in the USA. Infrastructure Management (transportation and security) increased sales by 26% to 22.7 million Euros (30 Sept. 2012: 18 million Euros). The EBIT for the segment increased by 22% to 2.4 million Euros (30 Sept. 2012: 2 million Euros). Activities in Southeast Asia and Poland again served as the drivers of both sales and profits. The number of employees in the Group increased to 1,701 (30 Sept. 2012: 1,577) as of 30 Sept. 2013 due to the expansion of capacity in the export markets. Cash flow from operating activities improved by 36% to -2.8 million Euros (30 Sept. 2012: -4.4 million Euros). Liquidity decreased as a result of, amongst other things, the repayment of a short-term loan and by the 0.8 million Euros higher dividend to 21.5 million Euros (30 Sept. 2012: 24.2 million Euros). In the third quarter PSI invested significantly in an energy management system for rail electricity and a transportation management system for logistics providers. The pilot orders have required a faster investment tempo than originally planned. In particular a business process management (BPM) is being developed that should be integrated throughout the Group in PSI software so as to significantly reduce the costs in the adaption of the business processes in standard software to the customers' needs. The Management Board projects a positive result of 4.5 million Euros for the fourth quarter of 2013 so that an EBIT of only 5.2 million Euros is expected for the entire year. On the basis of its own software products, PSI AG develops and integrates complete solutions for energy management (gas, oil, electricity, heat, energy trading), production management (mining, metals, automotive, mechanical engineering, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and em-ploys 1,700 persons worldwide. www.psi.de PSI AG Karsten Pierschke Head of Investor Relations and Corporate Communication Dircksenstra�e 42-44 10178 Berlin Deutschland Tel. +49 30 2801-2727 Fax +49 30 2801-1000 E-Mail: KPierschke@psi.de End of Corporate News --------------------------------------------------------------------- 29.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: PSI Aktiengesellschaft Dircksenstra�e 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 Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 236607 29.10.2013