PSI with Significant Growth in 2023 after Strong Final Quarter

EQS-News: PSI Software SE / Key word(s): Annual Results/Annual Report
PSI with Significant Growth in 2023 after Strong Final Quarter

04.06.2024 / 09:12 CET/CEST
The issuer is solely responsible for the content of this announcement.

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PSI with Significant Growth in 2023 after Strong Final Quarter
- New orders up 17.7% on the previous year at 297.3 million euros
- Sales increase by 8.9% to 269.9 million euros
- Operating cash flow significantly improved to 16.8 million euros

      Performance indicators  1 Jan. - Dec. 31  1 Jan. - Dec. 31  Change
                      (KEUR)              2023              2022
                       Sales           269,891           247,938  +8.9 %
                        EBIT             5,562            20,186   -72.4
                                                                       %
            Group net result               324             9,694   -96.7
                                                                       %
    Earnings per share (EUR)              0.02              0.62   -96.8
                                                                       %

Berlin, June 4, 2024 - PSI Group increased its sales by 8.9% to 269.9
million euros in the 2023 financial year (Dec. 31, 2022: 247.9 million
euros). At 5.6 million euros, the operating result, which was burdened by
one-off effects, was significantly below the previous year's figure (Dec.
31, 2022: 20.2 million euros) and within the target corridor, which was
reduced in the middle of 2023. Consolidated net income decreased to 0.3
million euros (Dec. 31, 2022: 9.7 million euros). New orders improved by
17.7% year-on-year to EUR 297.3 million (Dec. 31, 2022: EUR 252.5 million),
primarily due to the increase in Malaysia, in the Electrical Grids division
and in Logistics. At 170.2 million euros, the order backlog as at 31.12.2023
exceeded the previous year's figure by 9.9% (Dec. 31, 2022: 154.9 million
euros).

The Energy Management segment (energy grids, energy trading, public
transport) achieved 6.5% higher sales of 138.9 million euros (Dec. 31, 2022:
130.4 million euros) and a a significantly lower operating result of -7.8
million euros (Dec. 31, 2022: 1.4 million euros). In the Electrical Grids
division, earnings were still negatively impacted by individual projects
that required follow-up and additional work that could not be passed on to
end customers. Even the significantly more positive earnings performance in
Malaysia and stable results in the other areas of the segment were unable to
fully compensate for these effects.

Sales in the Production Management segment (metals, industry, logistics)
increased by 11.5% to 131.0 million euros (Dec. 31, 2022: 117.5 million
euros). The segment's operating result improved slightly to 20.4 million
euros (Dec. 31, 2022: 20.2 million euros). PSI Metals once again made the
largest contribution to earnings, but the Logistics division also developed
very positively and significantly increased new orders, sales and earnings.

The number of employees in the Group increased slightly to 2,310 (Dec. 31,
2022: 2,251). Cash flow from operating activities increased significantly
year-on-year to 16.8 million euros (Dec. 31, 2022, adjusted: 3.5 million
euros). At 50.5 million euros, cash and cash equivalents were 5.1 million
euros higher than the previous year's figure (Dec. 31, 2022: 45.4 million
euros), offset by higher current and non-current financial liabilities of
15.3 million euros (Dec. 31, 2022: 4.7 million euros).

The PSI Group was the target of a cyberattack in February 2024. The majority
of the PSI Group's IT systems were taken offline and had to be shut down.
The PSI Group was only able to carry out central activities of its business
model with restrictions. Prior to the cyberattack, we expected a further
stabilization of business in the Electrical Grids segment in Energy
Management and moderate growth in the other business units of the segment in
2024, as well as increases in new orders and sales in Production Management
and a further stabilization of the high earnings level.

The economic impact of the cyberattack cannot be conclusively assessed at
the moment, as the restart of our IT systems has not yet been fully
completed. According to our current estimates, it cannot be ruled out that
originally planned incoming orders and sales of around 20 to 30 million
euros can no longer be recorded or processed in 2024. We assume that all
costs incurred directly as a result of the cyberattack, such as emergency
management or support from third parties during the restart, can largely be
compensated for by existing insurance policies.

Taking into account all available and assessable information to date, we
assume that the negative effects on earnings from the cyberattack will lead
to a negative operating result in the upper single-digit to lower
double-digit million range in 2024.

The PSI Group develops software products for optimizing the flow of energy
and materials for utilities and industry. As an independent software
producer with more than 2,200 employees, PSI has been a technology leader
since 1969 for process control systems that ensure sustainable energy
supply, mobility and production by combining AI methods with industrially
proven optimization methods. The innovative industry products are sold both
directly and via the cloud-based PSI App Store. www.psi.de

Contact:

PSI Software SE
Karsten Pierschke
Head of Investor Relations and Corporate Communication
Dircksenstraße 42-44
10178 Berlin
Germany

Tel. +49 30 2801-2727
Email: KPierschke@psi.de


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04.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        PSI Software SE
                   Dircksenstraße 42-44
                   10178 Berlin
                   Germany
   Phone:          +49 (0)30 2801-0
   Fax:            +49 (0)30 2801-1000
   E-mail:         ir@psi.de
   Internet:       www.psi.de
   ISIN:           DE000A0Z1JH9
   WKN:            A0Z1JH
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1917087

End of News EQS News Service
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1917087 04.06.2024 CET/CEST