Berlin, 17 February 2004 – Despite the continuing poor economic environment, PSI achieved a balanced EBIT (2002: –12.4 million euros) and a result per share of –0.23 Euro (2002: –1.40 euros) in the first financial year under new leadership. The improvement is based essentially on optimized business processes and new product offers. Restructuring costs and costs of the new manufacturing control systems are also included in the results. Sales decreased by 9% to 137.7 million euros (2002: 150.7 million euros), which is attributable to a 50% reduction in sales with hardware and external software.
In the fourth quarter of 2003 PSI had a positive EBIT of 1.8 million euros (2002: –1.7 million euros). Sales in the fourth quarter were 38.9 million euros (2002: 41.5 million euros). Liquidity increased in the fourth quarter by 1.9 to 17 million euros (30 September 2003: 15.1 million euros, 31 December 2002: 21.5 million euros). At 118 million euros, the new orders for 2003 were below the value of the previous year (2002: 136 million euros), which resulted from the hesitant awarding of contracts in spring and summer and the change in customer behavior in awarding major projects. The volume of orders on 31 December 2003 was 71 million euros. For the current year the Executive Board has reconfirmed the EBIT forecasts of 3 to 6 million euros based on the assumption of a continued weak economic environment. The detailed figures for financial year 2003 will be published by PSI as planned on 17 March 2004.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of large networks (electricity, gas, oil, telecommunications, transport), cross-company production management (steel, chemicals, machinery, automotive, logistics) and information management for government and service providers. PSI was founded in 1969 and employs 1,200 persons.
