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P&I Personal & Informatik AG

EANS-News: P&I remains on course

Wiesbaden (euro adhoc) -

•	EBIT margin at 22.2 percent
•	Licensing sales at 17.2 million euros
•	Proposed dividend of 1.00 euro
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
finances
At today's meeting, the Supervisory and
Management Boards of P&I Personal & Informatik AG affirmed their 
intention of proposing a dividend payout of 1.00 euro per share 
(previous year: 0.60 euros) to the Annual General Meeting on 
September 1, 2009. The dividend represents approximately 82 per cent 
of P&I AG's annual profit for fiscal 2008/2009 (April 1, 2008 to 
March 31, 2009), amounting to 9 million euros.
With sales of 59.0 million euros in fiscal 2008/2009, the P&I Group 
achieved earnings before interest and taxes (EBIT) of 13.1 million 
euros (previous year: 13.1 million euros), representing an EBIT 
margin of 22.2 percent (previous year: 22.0 percent). For the German 
Association of Financial Analysts and Investment Consultants 
/Schmalenbach Society, DVFA/SG) earnings after tax (EAT), the P&I 
group can announce a result of 9.0 million euros (previous year: 9.6 
million euros). Earnings per share for fiscal 2008/2009 at 1.17 euros
followed the previous year's 1.25 euros. The P&I Group employed an 
average of 306 employees (FTE).
Total sales of 59.0 million euros were achieved by the P&I Group, 
following 59.4 million euros the previous year. Taking into account 
the contribution made to last year's sales by the now sold-off 
LOGA/400 business, the adjusted sales figure rose by 6.3 per cent.
The worsening economic conditions which set in during the second half
of the fiscal year have not left us untouched. During the last 
quarter of our fiscal year, we have had to accept that there has been
a noticeable slowdown. No major contracts such as those of previous 
years have been won. All the more gratifying, however, that our sales
organisation has nevertheless achieved licensing sales of 17.2 
million euros through contracts for a number of medium and 
smaller-sized projects (previous year: 17.4 million euros).
Development of P&I's Maintenance Service income follows in the main 
the licensing sales of previous years. Here, in the fiscal year just 
ended, we were able to withstand the one-off negative effect 
resulting from the sale of the LOGA/400 business and post sales of 
21.2 million euros (previous year: 22.2 million euros). Revenues of 
3.5 million euros from LOGA/400 business for the 12-month period 
(April 2007 to March 2008) were included in the previous year's 
accounts for the last time. Adjusted, this represents a year-on-year 
increase of 13.3 percent, with organic growth alone accounting for 
11.4 percent.
Service business showed a moderate positive development in comparison
to the previous year. P&I improved on the previous year's result by 
0.6 million euros, rising to 19.1 million euros, with 32.4 percent of
revenues coming from the Consulting/SI business area.
P&I realised domestic sales of 46.8 million euros (previous year: 
47.2 million euros), or 79.3 percent of total sales, with 
international sales of 12.2 million euros (previous year: 12.2 
million euros). Domestic business, while showing an absolute decline 
of 1 percent, actually grew when adjusted for the effect from the 
sold-off LOGA/400 business. The increase was mostly attributable to 
licensing sales achieved in the context of migrations of the BAGE2000
product we have acquired, and also from licensing business coming 
from the integrated time management solutions.
The operating result of 13.1 million euros remained the same as that 
of the previous year. A slight reduction in costs, however, led to a 
0.2 percent rise in the EBIT margin, reaching 22.2 percent. The P&I 
Group has continued to invest in the maintenance and expansion of its
product palette.
At this time, it is extremely hard to calculate the real impact of 
the economic and financial crisis. If, as a result of the economic 
and financial crisis, enterprises cut back on investment, this is 
likely to affect P&I's new business negatively, particularly 
licensing sales. The Board of Directors is therefore basing its 
targets for the coming fiscal year on sales volumes in the licensing 
area of between 12 and 16 million euros. In the consulting area, the 
P&I Group is aiming for annual sales at the previous year's level. 
With its stable customer base, P&I has traditionally generated more 
than 35 percent of sales from recurring Maintenance Services. The P&I
Group is expecting year-on-year growth potential in this area of up 
to 10 percent. In view of the commitment to long-term and continued 
investment, no potential savings in the area of costs are foreseen. 
Given the current circumstances, also the EBIT margin will go down 
between 15 and 20 percent. Overall, the Board of Directors expects 
that sales and results for the P&I Group for fiscal 2009/2010 will 
come below the level achieved in the year under review.
P&I will continue to pursue its attractive dividend policy and pay 
out dividends of at least 50 percent of the net profit shown in the 
annual financial statements of P&I Personal & Informatik AG.
"Even though our economic environment may have altered, we will hold 
fast to our vision for the future development of P&I. We want to 
achieve our long-term goal of sales of 100 million euros by 2014, 
with growth of 25 percent in the EBIT margin," declares Vasilios 
Triadis, CEO of P&I, adding: "We see the opportunities there are for 
ongoing, sustainable business development and are taking measures to 
ensure this. P&I is a strong brand and a strong partner."
The company results will be presented in detail at the balance sheet 
press conference to be held on June 16, 2009.
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, Technologie All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade

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