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P&I Personal & Informatik AG

EANS-News: P&I Personal & Informatik AG
Best half-year ever at P&I

Wiesbaden (euro adhoc) -

- Two-digit sales growth 
 - 21.4 per cent EBIT margin
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
6-month report
Subtitle:
 - Two-digit sales growth
 - 21.4 per cent EBIT margin
P&I Personal & Informatik AG generated an
increase in sales as compared to the previous year of 10.5 per cent 
to 33.4 million euros in the first half-year of fiscal 2010/2011 
(April 1, 2010 to September 30, 2010) and consequently recorded the 
best half-year in the history of P&I. The result before taxes and 
interest (EBIT) was 7.1 million euros, which corresponds to an EBIT 
margin of 21.4 per cent that remains at the previous year´s level. 
Unplanned extraordinary costs reduced the Company´s earning power in 
the first half-year. The result before depreciations amounted to 8.3 
million euros. The P&I Group announces a result of 5.2 million euros 
after tax (EAT).
"The first quarter was the best in the history of P&I and we have 
managed to continue this positive development during the second 
quarter and have therefore realised the best ever half-year recorded 
by the Company", said Vasilios Triadis, Chairman of the Board of 
Directors of P&I AG. "Our intuition regarding trends, our sensitivity
to the requirements of our customers and our answers in the form of 
innovative, sustainable solutions combined with the extensive range 
of services that we provide are the foundations on which our 
sustained growth is built."
The software licensing business increased by 5 per cent to 8.7 
million euros during the first half-year as compared to the same 
period in the previous year and this corresponds to a 26 per cent 
share of the Group´s overall sales. Less growth was recorded in the 
software licensing business when compared to the overall Company 
growth and this was a direct consequence of the economic crisis, in 
which investments made by customers were clearly reduced. The latest 
positive development in the new customer business is also extremely 
gratifying.
The weak growth in the software licensing business was more than 
compensated by the huge increase in the consulting business sector, 
in which sales increased by 15.2 per cent to 10.7 million euros. The 
consulting business generated 32 per cent of the P&I Group´s overall 
sales. Revenue of 12.9 million euros was generated in the Maintenance
business. This is a year-on-year increase of 1.0 million euros or 8.6
per cent and represents a virtual 39 per cent share of overall Group 
sales. P&I realised 26 million euros (previous year: 23.9 million 
euros) worth of our sales domestically. International sales developed
positively to 7.4 million euros (previous year: 6.3 million euros).
The operative result of 7.1 million euros remains constant when 
compared to the previous year, despite the high growth rate. This was
due to a one-off cost effect that was incurred that totalled 2.2 
million euros. This covered the personnel costs arising as a result 
of Dr. Voß, a member of the Board of Directors, exercising his 
special resignation rights on September 30, 2010 and the resulting 
Company payment liabilities as well as the legal and consultation 
costs incurred by the Company in conjunction with the disagreements 
between the members of the Supervisory Board and disagreements 
between various shareholder groups. The Company had no choice but to 
seek legal advice to defend itself against putative Supervisory Board
resolutions.
All in all, P&I can restate its forecasts for fiscal 2010/2011: 
Growth in sales compared to last year with an increase in licensing 
sales of up to 10 per cent should lead to an EBIT margin equal to the
high level recorded in fiscal 2009/2010.
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
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade

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