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PSI 2011 with Strong Growth in Industry Business


PSI Group achieved 7% higher sales of 169.5 million Euros in financial year 2011.

The EBIT was increased by 13% to 10.7 million Euros (2010: 9.5 million Euros). Adjusted for the effects from the sale of the telecommunications business at the end of 2010, sales growth was 11% and the EBIT increase 37%. The Group net result increased by 6% to 7.4 million Euros (2010: 7.0 million Euros). With a volume of new orders of 174 million, the level was just about that of the previous year (2010: 177 million Euros); the order book volume increased to 112 million Euros (2010: 108 million Euros).

  • Group sales increase by 7% to 169.5 million Euros
  • EBIT increased by 13% to 10.7 million Euros
  • Cash flow from operations reaches new record level of 15.4 million Euros

The Energy Management business was marked by strong growth in the fields of gas and oil and the lack of investment by the electrical utilities as a result of the energy shift in Germany in 2011. Sales in the segment increased by 5% to 68.9 million Euros (2010: 65.5 million Euros). The EBIT, which was marked by a backlog of orders in electrical distribution networks and simultaneous investments in the product basis, decreased to 4.0 million Euros (2010: 4.7 million Euros).

In Production Management, PSI increased sales in 2011 by 17% to 78.6 million Euros (2010: 67.3 million Euros). The EBIT increased significantly to 5.5 million Euros (2010: 1.3 million Euros). The highest margin was attained by the segments Metals and Optimisation, followed by ERP and Logistics. Following significant preproduction costs in the last few years, the launch of the new control system for raw materials extraction kicked off the entrance to the Chinese market.

With 22.1 million Euros, Infrastructure Management had 3.9 million lower sales in 2011 (2010: 26.0 million Euros). The EBIT decreased to 3.1 million Euros (2010: 4.4 million Euros). In the previous year, Infrastructure Management still had about 6 million Euros in sales in the field of telecommunications and along with the operative result also capital gains of 1.9 million Euros from the disposal of this segment. While the Southeast Asian PSI Incontrol confirmed its result; PSI Poland also improved profitability in 2011 once again.

In 2011, PSI spent a total of 16.2 million Euros for research and development (2010: 16.0 million Euros). Following the successful conclusion of the first projects on the basis of the group-wide uniform technology basis, the investments shifted more to the rollouts in the PSI businesses. A further focus of development was the new control system core for electrical grids and new user interfaces for gas grids.

The cash flow from operations increased again to 15.4 million Euros (2010: 13.1 million Euros). Despite the repayment of a loan for real estate taken in 2010, liquidity at the end of the year increased to 33.8 million Euros (31 December 2010: 28.9 million Euros), that is also to be used for targeted acquisitions. The Management Board will recommend a slight increase of the dividend to 0.25 Euros to the Annual General Meeting.

For 2012, PSI is aiming for new orders of 190 million Euros, growth of sales to more than 180 million Euros and an increase of the EBIT to 13 to 16 million Euros. With 36% more new orders in the first two months of the financial year compared to the previous year, PSI has already established a very good basis for achieving these goals.

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