PSI Continues Positive Trend in Second Quarter
Result before taxes increases by 90% compared to first quarter

There was also a revenue increase of 11% to Euro 18.7 million (2000: Euro 16.8 million) in the first six months of the financial year in the PSIPENTA Software Product Business. The EBIT of the Product Business improved by Euro 4.2 million to - Euro 1.1 million. This means that with Euro 46,000 a balanced result was attained in this segment in the second quarter.

 

Revenues in the System Business increased in the first six months by 22% to Euro 60.9 million (2000: Euro 49.8 million). Despite the continued good development in the business fields of Energy and Telecommunication, this segment has been impacted by the difficulties of the eBusiness solutions market, particularly the UBIS subsidiary. This in connection with one-off expenses for the cancellation of the UBIS IPO and investments in major customer sales in the first six months resulted in a decrease of the EBIT in the Systems Business to Euro 2.6 million (2000: Euro 6.5 million).

 

The number of employees increased by 106 to 1,381 compared with the first six months of 2000. Cash increased compared to the previous year’s quarter by 3.6 to Euro 15.9 million.

 

New orders as of 30 June of Euro 87 million represented a 27% increase over the previous year. As a result of the high order backlog of Euro 130 million and positive signals from the market the Management Board is convinced that the planned growth targets will be met. Risks are represented by the general economic developments and in particular here with the market development in eBusiness solutions.