P&I Personal & Informatik AG

EANS-News: P&I Personal & Informatik AG
Continued solid growth

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

•	EBIT margin of 25.7 per cent
•	Controlling and profit transfer agreement registered on September 9, 2011

Wiesbaden (euro adhoc) - The Supervisory Board of P&I Personal & Informatik AG
adopted the Company's annual financial statement for fiscal 2011/2012 during the
meeting that was held yesterday.

The P&I Group recorded sales of 70.6 million euros in fiscal 2011/2012 (April 1,
2011 to March 31, 2012) (previous year: 69.1 million euros) and earnings before
tax and interest (EBIT) of 18.1 million euros (previous year: 15.4 million
euros). This represents an EBIT margin of 25.7 per cent (previous year: 22.3 per
cent). The P&I group have announced an after tax (EAT) result for this period of
15.9 million euros (previous year: 10.9 million euros). Earnings per share
amount to 2.12 euros (previous year: 1.44 euros). The P&I Group employed an
average of 331 employees (FTE, previous year: 333).

A controlling and profit transfer agreement has existed between P&I AG and Argon
GmbH since April 1, 2011. Therefore the annual net profit shown in P&I's annual
financial statement for fiscal 2011/2012 has been ceded to Argon GmbH and the
profit for 2011/2012 amounted to 15,227,000 euros (previous year: 0 euros). 

The outside shareholders of P&I AG will be paid a compensation payment amounting
to 1.55 euros per P&I share after tax by Argon GmbH instead of a dividend. 

"Profitability always has been and still is very important to P&I" said Vasilios
Triadis, Chairman of the Board of Directors at P&I. "The EBIT margin of 25.7 per
cent is the basis for continued growth. For us, growth means: investing in the
further development of our range of P&I products. This year we invested 19.5 per
cent (previous year: 18.3 per cent) of our sales revenue in further

The P&I Group increased overall sales slightly by 2.2 per cent from 69.1 million
euros to 70.6 million euros. 

Sales of 29.8 million euros were realised in the Maintenance business. This
shows a year-on-year increase of 3.3 million euros or 12.5 per cent and
represents a 42 per cent share of overall Group sales. 

After the strong increase in Licensing sales recorded during the previous year,
which was characterised by a backlog demand resulting from the economic crisis,
this P&I business sector has recorded a slight increase in licensing sales when
compared to the previous year as a result of continued high licensing sales.
Licence sales amounted to 17.1 million euros. This means that 24.1 per cent of
overall Group sales came from the licensing business. New customer acquisitions
became the growth engine in addition to a multitude of small and medium sized
projects undertaken with our existing customers. Innovative module solutions,
the time management solution and the web-based HCM HR solution were all
extremely popular.

The Service business recorded a slight decline in sales of 1.7 million euros as
compared to the previous year, but still remains at its level from 2009/2010 as
special effects were posted during the previous year. The Consulting / System
Integration business sector generated sales of 21.4 million euros for the P&I
Group. This corresponds to 30.4 per cent of the overall P&I Group sales. Shown
here are revenues, aside from those arising from introductory projects and from
ongoing support for existing customers, also from seminars and training courses.

P&I recorded national sales of 55.9 million euros (previous year: 54.6 million
euros) or 79 per cent of total sales and 14.7 million euros (previous year: 14.5
million euros) in the international business sector. 

The operating result was characterised during fiscal 2011/2012 by moderate sales
growth and reduced costs as compared to those recorded during the previous year.
One-off costs that amounted to approximately 3.4 million euros (for legal
consultations in particular) were recorded during the previous year and these
resulted from the conflicts between groups of shareholders and the change to the
shareholding structure. The elimination of these costs has enabled EBIT growth
and this has given the Company an EBIT margin of 25.7 per cent.

The forecast of the Board of Directors for the coming business year 2012/2013,
after taking the acquisition of Mirus AG into consideration, is that there
should be overall sales of approximately 80 million euros together with an EBIT
margin that is comparable to the level realised during the previous year. A
sales increase in the 18 - 20 million euros range is planned for the Licensing
business sector.
As they stand at the moment, the Board of Director's expectations for fiscal
2013/2014 are moderate increases in earnings, operating cashflow and sales
throughout the Group. Under the assumption that the global economy will develop
positively, P&I will be able to continue to delight their customers with new
solution ideas and excellent service.

"We are never content with just being good. We always want to be the best and
provide the best products," said Vasilios Triadis, Chairman of the Board of
Directors at P&I. "Customers are looking for credibility and substance and not
fleeting trends! P&I stands for these values first and last."
The company results will be presented in detail at the balance sheet press
conference to be held on June 14, 2012. The annual report will be published on
the Company's homepage simultaneously.

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: free trade: Berlin, Hamburg, Düsseldorf, Stuttgart, regulated
             dealing/prime standard: Frankfurt 
language:   English

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