PSI Again Increases New Orders in Fourth Quarter
New orders even in the Metals and Automotive businesses
PSI Group had already exceeded the previous prognosis for new orders for the current year (more than 140 million Euros) on 30 November 2008. The positive development in orders and enquiries has continued in December. PSI is going to leave it at about 150 million Euros and concentrate on the good sales pipeline for the New Year.
In the anti-cyclic energy industry, business continued to develop very strongly in the fourth quarter. The new orders developed better than expected in the cyclical businesses of metals (steel, aluminium, copper) and automotive. Amongst others, PSI obtained important orders from the steel industry from Germany, Brazil and India. In the non-cyclic businesses of public transportation, security and telecommunications the number of enquiries has increased and there are real possibilities that PSI will be able to profit from the speeding up of infrastructure investments by the federal government.
The targets set for 2008 have essentially been achieved (sales of 130 million Euros, EBIT of somewhat more than 6 million Euros). Cash in banks will continue to grow and at the end of the year about 2/3 of the market capitalization will have been attained. The indications for the beginning of 2009 are that the development of new orders will continue. PSI therefore reiterates its annual target for 2009 of about 140 million Euros in sales and, for the time being an EBIT of 7.5 million Euros.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, heat, water), cross-company production management (metals, mechanical engineering, automotive, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and employs 1,100 persons in the group.