EANS-News: P&I continues on the right track
Wiesbaden (euro adhoc) -
- Sales growth of 7.6 percent - Operating result increased by 9.5 percent to 11.5 million euros
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quarterly report
Subtitle: - Sales growth of 7.6 percent - Operating result increased by 9.5 percent to 11.5 million euros
P&I Personal & Informatik AG increased overall sales in the first nine months of fiscal 2009/2010 (April 1, 2009 to December 31, 2009) to 47.2 million euros (previous year: 43.8 million euros) and recorded earnings before tax and interest (EBIT) of 11.5 million euros (previous year: 10.5 million euros), representing an EBIT margin of 24.4 per cent (previous year: 23.9 per cent). Earnings before depreciation rose from 12.1 million euros to 13.4 million euros. The P&I Group can announce a rise in earnings after tax (EAT) from 7.7 million euros to 8.2 million euros. A strong consulting business and continuous growth in the software maintenance sector formed the important cornerstones on which the 3.3 million euros increase in overall sales was based. License sales totalling 11.9 million euros was not the severe drop that we feared. This was merely 12% below the level recorded during the previous year. P&I's CEO, Vasilios Triadis, states: "The company´s reduced willingness to make investments during the crisis has given us the chance to make a breakthrough in our licensing business and win new customers and we were also able to implement this breakthrough with our existing customers as well, thanks to our competence and credibility." "Addressing" our existing customers with intelligent software upgrades and the intensification of the consulting business with regard to improving our customer support were the significant factors that contributed to this successful growth. Sales of 18.0 million euros were realised by our software maintenance contracts business. This represents an increase of 2.4 million euros or 15.6% as compared to the previous year. This business sector´s share of overall sales has grown to 38% in the meantime. This is seen as a particularly positive development, as this sales category is realised through long-term contracts with the customers.
The strongest growth in sales, which amounted to 16.3% was generated for P&I in the consulting sector. Sales in this sector amounted to 15.7 million euros (previous year: 13.5 million euros), which amounts to a 34% share of overall sales. Our customers once again successfully embraced the end-of-year seminars that are regularly held during the third quarter again this year and they generated sales of 1.0 million euros. Whilst sales in Germany grew by 3.4% to 36.9 million euros as compared to the previous year (35.7 million euros), a 25.9% increase from 8.1 million euros in the previous year to 10.3 million euros in the current fiscal year was recorded by the international sectors. The operating result increased by 1.0 million euros to 11.5 million euros when compared to the previous year´s result. Moderate cost increases were recorded and, as opposed to the first two quarters, these could only be compensated for in the third quarter as a result of the increase in overall sales. One-off costs that arose in conjunction with investor-relations activities also contributed to the incurred costs in addition to the acquisition of P&I Zeitmanagement GmbH and the development of the new Slovakian branch in Zilina. Overall, sales and results recorded during the first nine months of fiscal 2009/2010 lie in the upper spectrum of our expectations. We now expect overall sales to total more than 60 million euros for the full fiscal 2009/2010 year and we expect an EBIT margin of more than 20% and this lies well above our original forecast."P&I has focussed on our existing strengths during the economic crisis: strong through the quality of our products and services, strong through innovation, flexibility in our quote structures and always orientated to our customers requirements and the difficulties that they face", said Vasilios Triadis, Chairman of the Board at P&I AG, "We are proud of our positive business development, which is underpinned by the sustainability of our business models."
end of announcement euro adhoc
Further inquiry note:
Andreas Granderath
+49 (0)611 7147-267
agranderath@pi-ag.com
Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
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Stuttgart / free trade
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Hannover / free trade
München / free trade