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DGAP-News: PSI Software AG / Key word(s): Quarter Results/Quarterly / Interim Statement
PSI Continues Strong Sales and EBIT Trend in Third Quarter
Berlin, 29 October 2021 - The PSI Group increased its new orders by 10.1% to 196 million euros in the first nine months of 2021 (30 Sept. 2020: 178 million euros). The order backlog on 30 September 2021 was, at 165 million euros, 3.8% above the level of the previous year (30 Sept. 2020: 159 million euros). Group sales improved by 12.3% to 177.6 million euros (30 Sept. 2020: 158.1 million euros), whereby along with Energy, Production also contributed to the growth in the third quarter. The EBIT leapt by 77% to 15.7 million euros (30 Sept. 2020: 8.9 million euros), the group net result even improved by as much as 86.1% to 11.1 million euros (30 Sept. 2020: 6.0 million euros).
Sales in Production Management (metals, industry, logistics) during the first nine months was, at 79.4 million euros, 8.6% above the value for the previous year (30 Sept. 2020: 73.1 million euros). The EBIT for the segment, whose products are already completely based on the PSI platform, increased by 68% to 10.4 million euros (30 Sept. 2020: 6.2 million euros). While the carbon steel industry in Europe is preparing the conversion of its production to hydrogen, the electro-steel plants in North America and Europe as well as the carbon steel plants in Russia and Turkey continue investing in software. The metals business, with its consistent internationalization strategy, continues to reliably generate increasing profit margins, due to the fact that the PSI platform has become ever more successful in allowing local partners to provide customization work and is therefore able to concentrate on licenses, upgrade fees and consulting services. The metals production software has, for the first time, been delivered through the PSI App Store as a simulation package for e-learning trainings. As of 2022, it is planned to deliver real planning systems automated into customers' private clouds as well as public clouds. In a further step, it is planned to offer the complete software systems and upgrades including plant control. The automotive & industry as well as logistics businesses had numerous orders from regular and new customers in both Germany and abroad. Combination orders, where products from several business units were combined on the PSI platform, were especially well-received. Additional orders in the eastern European region could be obtained through the Polish PSI subsidiary.
The number of employees in the group increased to 2,186 (30 September 2020: 2,042), in particular due to new hires in Poland, Germany and the USA. Cash flow from operating activities was, at 16.3 million about 23% above the figure for the previous year (30 Sept. 2020: 13.2 million euros). Cash and cash equivalents increased compared to the previous year's figure by 14% to 47.3 million euros (30 Sept. 2020: 41.4 million euros).
The multi-cloud PSI App Store is now in productive use for pilot customers. Currently, mainly simulation products and standard components are sold. These can be used both independently as well as combined into industry products. The PSI App Store is intended primarily to accelerate the regular customer business (after sales) with major customers and integration partners as well as automate subsequent purchases and upgrades.
As of 2022, PSI will begin reporting repeating license sales from upgrade-as-a-service and software-as-a-service contracts in addition to maintenance and license sales. Initial as well as repeating licenses, which can be delivered automatically and with greater margins through the PSI APP Store, will also be reported in the financial reporting as of 2022.
The outbreak of the COVID-19 pandemic in 2020 is still having an impact on new orders in 2021. In view of the reduced uncertainties from the COVID-19 pandemic and an economic recovery, numerous PSI customers have indicated more orders. Unfortunately, not all of the major orders expected in the third quarter have materialized. In particular the major shifts in the raw materials markets as well as supply bottlenecks in certain industries have resulted in postponements of orders. The PSI management board expects the traditional strong final quarter and therefore a clear exceeding of the EBIT target of more than 20 million euros announced in March. For 2022, the management expects an especially strong start with additional increases in new orders and results as well as significantly increased sales from the PSI App Store.
The PSI Group develops its own software products for optimizing the flow of energy and materials for utilities (energy grids, energy trading, public transport) and industry (metals production, automotive, mechanical engineering, logistics). The industry-specific products, which are built from standard components, are sold both directly and via the multi-cloud PSI App Store and can also be customized by customers and partners themselves. PSI was founded in 1969 and employs nearly 2,200 people worldwide. www.psi.de
PSI Software AG
Phone +49 30 2801-2727
29.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
PSI Software AG
+49 (0)30 2801-0
+49 (0)30 2801-1000
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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