ots Ad hoc-Service: PSI AG PSI with Turnaround in 2000

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------

    Berlin (ots Ad hoc-Service) -      PSI with Turnaround in 2000 -
Sales increase by Euro 23 million to Euro 146.7 million - Operating
profit improves by Euro 11.6 million to Euro 4 million - Special
write-offs improve starting point for subsequent years

    The PSI Group increased its sales in Financial Year 2000 by 18.6 %, from Euro 123.7 million to Euro 146.7 million. The result from operations could be improved by Euro 11.6 million to Euro 4 million. This means that PSI has managed to accomplish the turnaround in operations. Due to the fact that activation of research and development contributions was simultaneously reduced from Euro 9.3 million to Euro 0.5 million, the real profit increase of operations was over Euro 20 million. As a consequence of the extraordinary, not cash effective write-offs of research and development costs in a volume of Euro 15.5 million, and goodwill write-offs of Euro 1.9 million, there is an operating result of Euro -13.4. This special write-off will have a positive effect on the future PSI earnings.

    New orders increased by 64% to Euro 184 million (1999: Euro 112 million). Cash improved by Euro 14.8 million to Euro 19.2 million.

    Despite the continued flatness of the ERP market, the largest portion of the profit improvement from operations was achieved in the Product Business. This is on the one hand attributable to the improved cost management in this area and on the other hand on the increased use of synergy effects within the company.

    The Executive Board expects the positive trend to continue in 2001. Sales are planned to increase 25% and an improvement of the operating profit by more than 100%. This planning is based on the one hand on the high level of order backlog of Euro 123 million at the beginning of the calendar year, on the other hand on the 298 new employees, increasing capacity to 1,362 employees.

    Issuer's information/explanation remarks concerning this ad hoc announcement:

    The Energy Business made a significant contribution to the new orders again. PSI expanded its strong market position in network control systems and established itself a as leading provider of solutions for the deregulated energy markets. The business with eBusiness and logistic solutions has also developed positively.

    The successful start in 2001 also confirms the positive trend. In the first two months there were Euro 38 million in new orders, 35% more than the previous year.

    PSI AG (Neuer Markt: PSA2, WKN 696 822), as a leading provider plans and implements software solutions for the resource management in the fields of energy, goods and information. The Group, which was founded in 1969, has currently 1,350 employees. PSI has ten offices in Germany and another six abroad. The company has been on the New Market of the Frankfurt Stock Market since 1998.

    Your contact person:

    PSI AG Karsten Pierschke Manager IR/PR Dircksenstraße 42-44 D-10178 Berlin

    Tel. +49 30 2801-2727 Fax +49 30 2801-1000 eMail:

WKN: 696822; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Bremen, Hannover, Stuttgart

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Original-Content von: PSI AG, übermittelt durch news aktuell

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