P&I Personal & Informatik AG

EANS-News: P&I Personal & Informatik AG
Sustained higher profitability

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
quarterly report

• EBIT margin: 26.0 per cent
• P&I has won the biggest order in the Company’s history

Wiesbaden (euro adhoc) - P&I Personal & Informatik AG, of Wiesbaden in Germany,
has started the first quarter of the new fiscal year by recording slight growth
in sales and an excellent operating result (April 1, 2011 to June 30, 2011).
Group sales for the first three months increased by 2.0 per cent from 17.1
million euros to 17.4 million euros when compared to the comparable period in
the previous year. In the first quarter of the new fiscal year the P&I Group
generated an operating result before taxes and interest (EBIT) of 4.5 million
euros (previous year: 4.2 million euros) and realised an EBIT margin of 26.0 per
cent. The result before depreciations (EBITDA) amounted to 5.1 million euros.
The P&I Group reported earnings of 3.1 million euros as the DFVA/SG (German
Association of Financial Analysts and Investment Consultants / Schmalenbach
Society) result. The P&I Group employed an average of 333 employees (FTE).

"We have started the new fiscal year with a very good first quarter, especially
pleased with the increase in licensing and maintenance sales", declared Vasilios
Triadis, chairman of the P&I Board of Directors and "the most important event
for P&I in this quarter was winning the order from the Dataport, an IT services
provider, which is the biggest order ever won in the history of P&I. Part of
this order will involve us in providing the administration and accounting
software for use by all of the 300,000 civil servants involved in local
government in Hamburg and Schleswig-Holstein as well as the civil servants
involved in district administration in Schleswig-Holstein and project closure is
planned for 2014. 
Our expertise, continuity and the overall flexibility of the software were the
decisive factors during the competitive tendering process that won us the order
and they are also the foundations that P&I´s leading position in the HR IT
market has been established on".

The software licensing business increased by 6.0 per cent to 4.9 million euros
during the first quarter as compared to the previous year and this corresponds
to a 28 per cent share of the Group´s overall sales. The maintenance business
has developed as planned and revenue amounted to 7.1 million euros (previous
year: 6.4 million euros). 41 per cent of the P&I Group´s sales were generated by
the recurring maintenance business. The service business recorded a slight
decline in sales of 0.7 million euros when compared to the comparable period
during the previous year and their sales amounted to 4.9 million euros. Sales
recorded during last year´s third quarter were higher than usual due to a
special item, this being a major fixed price project that was completed and
invoiced during the previous year´s third quarter.  28 per cent of the overall
P&I Group sales were generated from this business sector.

P&I realised domestic sales of 13.8 million euros (previous year: 13.1 million
euros), which represents 79 per cent of total sales. International sales dipped
slightly to 3.6 million euros (previous year: 4.0 million euros). 

As the cost increases turned out to be minimal when compared to the previous
year, an increase in the operating result has been recorded as a direct the
result of the growth in sales. The operating result increased by 0.3 million
euros to 4.5 million euros when compared to the previous year´s result. 

All in all, P&I can restate its forecasts for fiscal 2011/2012: We should see a
slight growth in sales as compared to the previous reporting year and the
Group´s EBIT margin should remain at the high level that was realised during the
previous 2010/2011 fiscal year.

Further inquiry note:
Andreas Granderath
+49 (0)611 7147-267

end of announcement                               euro adhoc 

company:     P&I Personal & Informatik AG
             Kreuzberger Ring 56
             D-65205 Wiesbaden
phone:       +49(0)611 7147 267
FAX:         +49(0)611 7147 367
mail:     aktie@pi-ag.com
WWW:      www.pi-ag.com
sector:      Software
ISIN:        DE0006913403
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf 
language:   English

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