Berlin, 24 September 2013 – As a result of one-off encumbrances from past risks from 2009 and increased one-off expenditures for the development of an energy management system for rail electricity and the development of a transportation management system for logistics service providers, the PSI AG expects a negative EBIT of –2.8 million Euros in the third quarter of 2013. For the fourth quarter of 2013, the Management Board now expects a positive result of 4.5 million Euros so that a positive EBIT of only 5.2 million Euros is expected for the entire year. Due to general payment risks, this only includes a proportion of the licences from major contracts. In view of the continuing lack of investment on the part of energy providers in Europe, the Management Board is reducing the EBIT planning for the subsequent years to 12 million Euros for 2014 and 15 million Euros for 2015.
The old risks from 2009 include a matter litigation with a former customer in the Czech Republic which, after years of litigation could be settled out of court and resulted in an adjustment of 0.8 million Euros. As a result of the probable loss of unused tax losses due to the short-term shareholding of above 25 % in PSI AG by an investor in 2009, the group net result will be affected by a 0.6 million higher tax charge.
With the rail electricity system, PSI is making itself less dependent on the weak demand by the energy suppliers in the European market. With the transportation management system PSI hopes to profit from the constantly growing Internet mail-order business.
As a result of the Internet mail-order boom and increasing industrial networking, the demand for transport logistics solutions is growing by about 10 % per year. Many of the existing systems are very old and cannot handle the requirements of increasing Internet integration, short transportation times and automation. Due to the resulting needs for replacement, PSI has extended the existing shipping software with components that are necessary for the transportation logistics of larger logistics service providers and industrial groups.
The pilot orders require a higher rate of investment than originally planned. In particular a business process management (BPM) is also being developed that is intended to be integrated group-wide into the PSI software as of 2015, so as to significantly reduce the costs for the adaption to the customer needs of the business processes contained in the standard software.
In view of the intensive cost-savings of the electricity suppliers in the home market for the last four years, PSI is further expanding the segment for rail electricity systems. The rail electricity portfolio has to date been lacking the energy management system for high voltage and power plant control.
Should the new German administration pass a new energy market design which unlocks the investment backlog in the energy grids, the budget figures for the energy business could be drastically increased.
On the basis of its own software products, PSI AG develops and integrates complete solutions for energy management (gas, oil, electricity, heat, energy trading), production management (mining, metals, automotive, mechanical engineering, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs more than 1,600 persons worldwide.