P&I achieves quarterly target again
Wiesbaden (euro adhoc) -
Operating result of 10.5 million euros Sales growth of 7.9 percent
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finances
With sales of 43.8 million euros for the first three quarters of fiscal 2008/2009 (April 1, 2008 to December 31, 2008), P&I Personal & Informatik AG achieved earnings before interest and taxes of 10.5 million euros (previous year: 10.3 million euros). This represents an EBIT margin of 23.9 percent, (previous year: 23.3 percent). Earnings before depreciation dropped to 12.1 million euros from 12.9 million euros. However, the P&I Group recorded a small increase in earnings after tax (EAT), rising from 7.5 million euros to 7.7 million euros.
In the first three quarters of fiscal 2008/2009, P&I sales amounted to 43.8 million euros, down slightly by 0.5 million euros from the previous year's 44.3 million euros. Taking into account the 3.1 million euros included in last year's sales from the now sold-off LOGA/400 business, the adjusted sales figure is higher by 6.2 percent.
Licensing sales increased in comparison to the previous year, rising by 7.9 million euros to 13.6 million euros. Aside from large-scale, strategic projects in the public administration sector, for example, the municipal administrations of Erlangen and Fuerth, Q3 Licensing sales were also augmented by a number of smaller-sized projects with new SME customers. The share of total Group sales amounts to 31 percent.
In Maintenance business, sales of 15.6 million euros were realised, year-on-year a decline of 0.9 million euros, or 5.6 percent, representing a share of Group sales of 36 percent. However, in the previous year, Maintenance revenue amounting to 2.7 million euros from the sold-off LOGA/400 business was included.
With 13.5 million euros (previous year: 14.1 million euros) P&I generated 31 percent of its sales in the Consulting/SI business area.
Despite the sale of LOGA/400 business, revenue from German business was 35.7 million euros (previous year: 34.1 million euros) a rise of 4.7 percent. Revenue from the international segment, strongly influenced by Licensing sales of a large foreign BPO provider, was 8.1 million euros. As expected, this was below the previous year's level (10.2 million euros).
Despite the drop in sales due to the sell-off of the LOGA/400 business, an improved operating result was achieved in the first three quarters. However, the benefits of cost savings from the sale of the LOGA/400 business or of the absence of any negative special effects (such as those in the previous year resulting from the early closure of the SAR scheme following Carlyle's exit as major shareholders). were offset by additional expenditure on expanding international business. This included expenditure on acquisition of customer bases and personnel leasing software in Austria, plus further development of our international P&I localisations. "Up to this point, the economic and financial crisis and its consequences have not affected us greatly. We were also able to reach the targets we had set ourselves in Q3," states Vasilios Triadis, CEO of P&I AG. "The question is how it will go on. P&I will continue to undertake investments in future, both in respect of development of our product portfolio and quality assurance as well as with regard to the professionality of our services. Our goal is to emerge from this crisis stronger than ever."
end of announcement euro adhoc
Further inquiry note:
Andreas Granderath
+49 (0)611 7147-267
agranderath@pi-ag.de
Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technologie All Share
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