PSI Increases Sales by 14.9% in First Quarter

Management expects EBIT of one million euros for the Second Quarter

Berlin, 25 April 2007 - In the first quarter of 2007, the PSI Group had an EBIT of 0.9 million euros (Q1-2006: 8 kEUR) and a result of 0.4 million euros (Q1-2006: -0.2 million euros). First quarter sales increased by 14.9% to 32.6 million euros compared to the previous year (Q1-2006: 28.4 million euros). With 38 million euros (Q1-2006: 42 million euros), new orders were above sales so that the volume of orders increased by 5 million euros to 79 million euros compared to 31 December 2006.

 

The Energy Management Segment (electricity, gas, oil, heating, water) had sales of 12.8 million euros (Q1-2006: 12.5 million euros) in the first three months. The EBIT improved to 0.8 million euros (Q1-2006: 0.5 million euros). Important new orders in the areas of gas electricity and energy trading were obtained in the energy business.

 

Compared to the previous year, the Production Management Segment (industry, logistics) increased sales in the first three months by 13.6% to 13.4 million euros (Q1-2006: 11.8 million euros). The EBIT improved to 0.15 million euros (Q1-2006: 0.1 million euros) despite expenditures for the expansion of the Russian business .

 

Infrastructure Management (traffic, security, telecommunications, government) increased sales in the first three months by 56% to 6.5 million euros (Q1-2006: 4.1 million euros). The EBIT, which had been negative in the pervious year, improved to 0.1 million euros (Q1-2006: -0.5 million euros). In this segment it was primarily the traffic area that obtained new orders so that the segment is working closer to capacity.

 

The number of employees remained constant at 1,052 (Q1-2006: 1,049) whereby there were structural changes to the benefit of the export business as a consequence of the expansion of the sites in China and Poland.

 

Since the beginning of the year, the PSI Group has been organized in the segments Energy Management, Production Management and Infrastructure Management. Infrastructure Management, in contrast to the former Information Management, is clearly oriented toward solutions that are not limited to the domestic market, but rather can be exported to the growth markets in eastern Europe and Asia.

Unlike the former Network Management, Energy Management concentrates exclusively on energy management solutions for the German and international market. This consists of systems for electricity, gas, oil, heating and water suppliers as well as for the increasing energy trading and sales.

 

The management expects the trend to be confirmed in the second quarter and another positive EBIT of one million euros. The volume of orders at 79 million euros represents a very good basis for continuing the positive development in the coming quarters.

 

PSI AG

develops and integrates individual solutions, on the basis of its own software, for energy management (electricity, gas, oil, heating, water), cross-company production management (steel, machinery, automotive, logistics) and infrastructure management for transport, safety and telecommunications. PSI was founded in 1969 and employs more than 1,000 persons in the group.