| Key figures (KEUR) | 01/01 – 30/06/2015 | 01/01 – 30/06/2014 | Change |
|---|---|---|---|
| Sales | 90,522 | 84,224 | +7.5 % |
| EBIT | 4,233 | 2,782 | +52.5 % |
| Group net result | 2,364 | 1,210 | +95.4 % |
| Earnings per share (EUR) | 0.15 | 0.08 | +87.5 % |
Berlin, 28 July 2015 – The PSI Group obtained 7.5 % higher sales of 90.2 million Euros in the first six months of 2015 (30 June 2014: 84.2 million Euros). The EBIT for the first six months, which was encumbered by special effects in the previous year, increased by 52 % to 4.2 million Euros (30 June 2014: 2.8 million Euros). The group net result doubled to 2.4 million Euros (30 June 2014: 1.2 million Euros). The volume of new orders improved by 17 % to 104 million Euros (30 June 2014: 89 million Euros), the volume of orders on 30 June 2015 was, at 131 million Euros, 8 % above the figure for the previous year (30 June 2014: 121 million Euros).
Energy Management (gas, oil, electricity, heat) had 5 % higher sales of 31.8 million Euros (30 June 2014: 30.3 million Euros) in the first six months. The EBIT for the segment was increased by 20 % to 1.7 million Euros compared to the previous year (30 June 2014: 1.4 million Euros). The electrical energy business had a very strong increase in the volume of new orders in the second quarter and went into trial operation in the ground-breaking pilot project “multi-client capability control system for municipal utility cooperations”. Despite weak oil and gas prices, the oil and gas business confirmed the positive trend and managed to further increase its earnings. The energy trading systems business was awarded a research project for the trade of energy flexibilities of industrial production and won further contracts for the trading software for gas and electricity, which was newly implemented and integrated based on the group technology platform.
Sales in Production Management (raw materials, industry, logistics) during the first six months were, at 44.2 million Euros, 13 % above the figure for the previous year (30 June 2014: 39.0 million Euros). The segment’s EBIT more than doubled to 2.7 million Euros compared to the previous year (30 June 2014: 1.0 million Euros) despite the continuing investment in software for raw material extraction till the end of the year. The automotive business is gaining important licensing orders in Germany. The logistics business was able to significantly increase the EBIT and the volume of new orders compared to the previous year. In the steel industry, a stabilisation of new orders is beginning to make itself apparent primarily in Europe.
In Infrastructure Management (transportation and security), sales were, with 14.5 million Euros, 2 % below the level of the previous year (30 June 2014: 14.8 million Euros). The segment’s EBIT decreased as a result of the continued weak development in Southeast Asia to 0.4 million Euros (30 June 2014: 0.9 million Euros). The public transportation business in Germany continued to make a positive contribution to the result. In Poland, PSI won an important contract from a pipeline operator; in Southeast Asia there are signs of a recovery in the new orders.
The number of employees in the Group was reduced by 41, mainly in Malaysia, compared to the first quarter of 2015 and by 10 to 1,677 compared to the same quarter last year (30 June 2014: 1,687). The low energy and commodity prices displace the profits from the beginning to the end of industrial value-added processes. Therefore PSI has transferred employees from the upstream to the downstream areas. Cash flow from operations amounted to –3.4 million Euros (30 June 2014: –2.4 million Euros). Liquidity, which increased to 27.8 million Euros (30 June 2014: 17.1 million Euros), is still of high importance for the financing of sales.
In the coming quarters, PSI expects continued growth in the home market in the energy business. The new mining control room has successfully commenced test operations in China and is now going to be expanded by further excavation areas. Additional opportunities are arising in the energy business with the planned discontinuation of the sanctions against Iran, where PSI has numerous older installations. Within the course of the Industry 4.0 boom the demand for our new solutions in the automotive and logistics businesses continues to pick up. The management continues to strive for the annual targets set in the 2014 annual report and will decide on the finalisation of the goals in the third quarter.
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 employs 1,700 persons worldwide.