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P&I Personal & Informatik AG

EANS-News: Further record year for P&I

Wiesbaden (euro adhoc) -

• 7.2 per cent sales growth
    • EBIT margin at 24.2 per cent
    • Proposed dividend of 1.10 euros
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
annual result
Subtitle:     • 7.2 per cent sales growth
    • EBIT margin at 24.2 per cent
    • Proposed dividend of 1.10 euros
The P&I Group recorded sales of 63.3 million
euros in fiscal 2009/2010 (April 1 2009 to March 31, 2010) (previous 
year: 59.0 million euros) and earnings before tax and interest (EBIT)
of 15.3 million euros (previous year: 13.1 million euros). This 
represents an EBIT margin of 24.2 per cent (previous year: 22.2 per 
cent). 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 10.9 million 
euros (previous year: 9.0 million euros). Earnings per share for 
fiscal 2009/2010 are 1.45 euros as compared to the previous year's 
1.17 euros. The P&I Group employed an average of 334 employees (FTE, 
previous year: 306).
The Board of Directors of P&I Personal & Informatik AG intends to 
propose a dividend distribution at the AGM to be held on September 1,
2010 that amounts to 1.10 euros (previous year: 1.00 euro) per share.
The dividend represents approximately 83 per cent of P&I AG's annual 
profit for fiscal 2009/2010 (April 1, 2009 to March 31, 2010), which 
amounts to 10.0 million euros.
The P&I Group increased its total sales by 7.2 per cent from 59.0 
million euros to 63.3 million euros, which means that we exceeded the
target that we set for ourselves. The sales growth recorded during 
the fiscal year just ended was bolstered by a strong service business
and growth in the high profit maintenance business. "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 success.
Sales of 24.3 million euros were realised in the Maintenance 
business. This shows a year-on-year increase of 3.2 million euros or 
15 per cent and represents a 38 per cent share of overall Group 
sales. The excellent maintenance business is mainly the result of the
successful licence sales realised during the previous year. The 
acquisition-contingent maintenance sales amounted to 0.9 million 
euros.
The service business also recorded double digit sales growth. P&I 
recorded a 12 per cent or 2.2 million euros increase over the 
previous year in the Consulting / SI business sector which grew to 
21.3 million euros. This corresponds to 34 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.
Overall licensing sales dropped back as expected due to a negative 
one-off effect posted in the previous year. However, as a result of 
the conclusion of a variety of small and medium sized projects the 
P&I Group was only able to realise licence sales of 15.5 million 
euros, which corresponds to a year-on-year decline of 10 per cent 
when compared to the previous year´s sales of 17.2 million euros. P&I
realised domestic sales of 49.4 million euros (previous year: 46.8 
million euros) or 78 per cent of total sales, with international 
sales of 13.9 million euros (previous year: 12.2 million euros).
The operating result increased by 17 per cent to 15.3 million euros. 
The P&I Group also instigated a policy of financial sustainability 
during the ongoing crisis. Our commitment to long-term and continuous
investment continued to be implemented: Investments were made in 
further developing our range of products, in customer satisfaction 
and in our employees. The P&I Group realised its business goals and 
we have also successfully maintained our position, even in the 
current economic and financial crisis.
The Board of Directors are planning on a slight overall surge in 
sales growth in the coming fiscal year as compared to the past year 
under review. P&I will be aiming to realise sales growth of up to 10 
per cent in the licensing sector, which should be in the region of 16
to 17 million euros. However, if enterprises cut back their 
investment budgets as a result of the economic and financial crisis, 
this is likely to affect P&I's new business negatively, particularly 
in licensing sales. We are aiming to maintain annual sales in the 
Consulting sector at the previous year's level.
Our stable customer base has enabled the P&I Group to generate more 
than 38 per cent of sales through recurring maintenance services. 
Organic growth potential of 5 per cent has been incorporated in our 
planning. Investment in the Group´s future has also been planned for 
the coming year. Further technical software development, production 
of the new On-demand software module, reinforcing the organisation, 
safeguarding our employees´ expertise as well as expanding the range 
of services provided to our customers are all important planning 
components. The EBIT margin will therefore be maintained at the high 
level that it has already reached.
P&I will continue to pursue its attractive dividend policy and pay 
out dividends of at least 50 per cent of the net profit shown in the 
annual financial statements of P&I Personal & Informatik AG. Due to 
the changed basic conditions, the long-term (organic) goal of sales 
of around 80 million euros, should now be realised by 2014, whereas 
the EBIT margin should also grow towards 25 per cent.
"We have all worked very hard over the last six years: sales have 
increased, costs have been kept under control and our Group has been 
strengthened. The Group EBIT has increased in the meantime from 5.2 
million euros in fiscal 2004/2005 wiht an EBIT margin of 11.6 per 
cent to more than 15.3 million euros with an EBIT margin of 24.2 per 
cent", said Vasilios Triadis, Chairman of the Board of P&I. "This 
success is based on our trading principle of assuming responsibility 
for all of our business activities. Our claim as a specialist 
provider of integrated HR management processes is that we are the 
best there is."
Note:
The information concerning the balance sheet figures and other 
information relating to fiscal 2009/2010 has been compiled by the 
Board of Directors and has been granted an unqualified audit 
certificate by the auditor. This information can be found in either 
the annual financial statement or the consolidated financial 
statement. However, neither the annual financial statement nor the 
consolidated financial statement has been previously approved the 
company´s Supervisory Board. Therefore the annual financial statement
and the consolidated financial statement have not yet been published 
in accordance with § 325 HGB.
The P&I-Group in figures:
|Key figures      |31.03.2010  |31.03.2009    |Change        |Change         |
|acc. to IAS      |´000 euros  |´000 euros    |´000 euros    |%              |
|Group sales      |63,297      |59,024        |4,273         | 7.2 %         |
|EBITDA           |18,148      |15,369        |2,779         |18.1 %         |
|EBIT             |15,337      |13,098        |2,239         |17.1 %         |
|EBT              |16,041      |13,673        |2,368         |17.3 %         |
|Consolidated     |            |              |              |               |
|result (DVFA/SG) |10,878      | 8,966        |1,912         |21.3 %         |
|Return on Sales  |17.2 %      |15.2 %        |./.           |./.            |
|EPS (DVFA/SG)    |EUR 1.45    |EUR 1.17      |EUR 0.28      |21.3 %         |
|BQU *            |334         |306           |28            | 9.3 %         |
|BQU **           |333         |315           |18            | 5.7 %         |
|  (ClosingDay)   |            |              |              |               |
*     Number of Employees in average period
**    Average employment quotient in average period on closing day
Sales by business segments
|                            |1.04.-31.03.10|01.04.-31.03.09|01.04.-31.03.08|
|                            |'000   |Share |'000    |Share |'000    |Share |
|                            |euro   |      |euro    |      |euro    |      |
|                            |       |      |        |      |        |      |
|Licences                    |15,483 | 25 % |17,243  | 29 % |17,376  |  29 %|
|Maintenance                 |24,332 | 38 % |21,161  | 36 % |22,205  |  38 %|
|Product sales               |39,815 | 63 % |38,404  | 65 % |39,581  |  67 %|
|Consulting                  |21,350 | 34 % |19,101  | 32 % |18,457  |  31 %|
|Other *                     | 2,132 |  3 % | 1,519  |  3 % | 1,377  |   2 %|
|Total                       |63,297 |100 % |59,024  |100 % |59,415  | 100 %|
*     includes Third Party and ASP (Application Service Providing)
Sales by geograpic segments
|                            |01.04.-31.03.10 |1.04.-31.03.09|01.04.-31.03.08|
|                            |'000   |Share   |'000   |Share |'000    |Share |
|                            |euro   |        |euro   |      |euro    |      |
|                            |       |        |       |      |        |      |
|Germany                     |49,416 | 78 %   |46,816 | 79 % |  47,161|  79 %|
|Austria                     | 7,462 | 12 %   | 6,487 | 11 % |   4,535|   8 %|
|International               | 6,419 | 10 %   | 5,721 | 10 % |   7,719|  13 %|
|Total                       |63,297 |100 %   |59,024 |100 % |  59,415| 100 %|
Find out more about P&I AG on the Internet: www.pi-ag.com
Press contact:
P&I Personal & Informatik AG
Andreas Granderath / Investor Relations
Kreuzberger Ring 56
D - 65205 Wiesbaden
Tel.: +49 (0) 611 / 7147-267
Fax: +49 (0) 611 / 7147-367
E-Mail:  aktie@pi-ag.com
P&I  Your Partner for integrated HR Solutions - (ISIN: DE 0006913403)
Almost 400 people - contributing their knowledge, their high level of
dedication and passion - make P&I the premium supplier of integrated 
software solutions for human resources management. Regardless of 
whether it is payroll, web-based personnel management or time 
management: the HR software of P&I AG is cutting edge - with regard 
to technological as well as functional attributes. In the meantime, 
the P&I LOGA payroll accounting software is now utilised in thirteen 
European countries. With the P&I TIME product, P&I now has a 
platform-independent and flexibly adaptable standard software 
application for time management and is thus positioning an attractive
stand-alone product in the premium segment. Services such as 
implementation, consulting, training and HR outsourcing additionally 
round off the range of services that P&I offers.
P&I serves its customers through 6 branch offices in Germany and 
another 7 offices in other European countries, guaranteeing those 
customers reliability and investment protection by means of its large
investments in product research and development. Leading 
international HR service providers as well as computer centres rely 
on P&I as a product supplier, and over 3,000 direct customers 
successfully process their HR business using P&I solutions. They all 
place their trust in the high level of expertise that P&I AG has in 
the meantime amassed in the course of its more than 40 years of 
presence in the market. P&I offers human resource management from one
single source, providing solutions that ensure its customers are 
well-prepared for the future. P&I is stock exchange listed in the 
Prime Standard segment of the Frankfurt Stock Exchange; in the 
business year 2009/2010 it achieved a turnover of 63.3 million euros.
end of announcement                               euro adhoc

Further inquiry note:

Andreas Granderath
Telefon: +49(0)611 7147 267
E-Mail: 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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