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ots Ad hoc-Service: PSI AG
PSI Continues Positive Trend After Nine Months
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Berlin (ots Ad hoc-Service) - PSI Continues Positive Trend After Nine Months - Revenues increase by DM 29.3 million to DM 196.6 million - Operating result improves by DM 18.4 million to DM 4.4 million - New orders increases to DM 280 million
Berlin, 20 November 2000 - The PSI Group increased its revenues for the first nine months of the year 2000 by 17.5% to DM 196.6 million compared to the same period last year (1999: DM 167.3 million). PSI was able to improve its operational results by 18.4 million DM to 4.4 million DM (1999: -14.0 million DM). This figure contains DM 4.5 million in write-offs for activated research and development costs (1999: DM 2.4 million), goodwill write-offs of DM 2.3 million and the encumbrance resulting from the DM 8.4 million reduction in capitalised research and development costs compared to the previous year. The new orders as per 30 September 2000 were at DM 280 million, DM 60 million above the value for the entire previous year (1999: DM 220 million for the entire year). Liquidity had increased over 30 June by 30% to DM 31.1 million.
Despite the continuing weakness of the ERP market, the major portion of the improved results were attained by the Product Business with DM 11 million. This, on the one hand, is due to the improved cost management in this area and, on the other hand, the improved uses of synergies within the company. The Management Board plans to take advantage of this potential to an even greater extent in the future and to support this by means of organizational changes.
The driving force for the positive development in the Systems Business was again the areas of energy management and eBusiness. Amongst the highlights of the third quarter were a new major contract from Ruhrgas AG, the agreement for a worldwide cooperation with INTERSHOP and the conversion of the eBusiness subsidiary UBIS into a public stock corporation.
The number of employees compared to 30 September 1999 increased by 246 to 1,284. By founding an employee-shareholders' pool on 1 August 2000, employees and managers bonded themselves even more closely to PSI as shareholders. With 10% of the subscribed capital, the employees' pool is currently the largest single shareholder in PSI.
The Management Board expects the positive trend to continue into the fourth quarter. The high level of new orders in the current financial year, the repositioning of PSI initiated in this year and the organizational bundling of competences will provide for positive stimuli for the development of PSI in 2001. It is therefore expected that for the financial year 2001 there will be an increase in revenues of over 30% and an even higher improvement in the profitability.
Your contact person:
PSI AG Karsten Pierschke Manager Investor Relations Dircksenstraße 42-44 D-10178 Berlin
Tel. +49 30 2801-2727 Fax +49 30 2801-1000 eMail: KPierschke@psi.de
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