March 23, 2020 / 9:29 PM / 5 days ago

BRIEF-PIS Says Sales In 2019 Grew By 13% To 225.2 Mln Euros

March 23 (Reuters) - PSI Software AG:

* DGAP-ADHOC: THANKS TO STRONG FINAL QUARTER PSI EXCEEDS TARGETS FOR 2019

* FY EBIT INCREASED BY 11.4 % TO 17.2 MILLION EUROS

* FY NEW ORDERS INCREASED BY 8.8 % TO 236 MILLION EUROS (31 DEC. 2018: 217 MILLION EUROS)

* ORDER BOOK VOLUME AT END OF YEAR INCREASED BY 2.2 % TO 142 MILLION EUROS (31 DEC. 2018: 139 MILLION EUROS).

* EFFECTS OF CURRENT CORONA CRISIS CANNOT BE CONCLUSIVELY QUANTIFIED AT THIS POINT IN TIME

* PRIOR TO CORONA CRISIS, PSI HAD AIMED FOR CONTINUATION OF GROWTH AND FURTHER INCREASE IN EBIT BY 10% IN 2020

* CONSIDER IT ADVISABLE, AS A PRECAUTION, TO LEAVE A HIGHER PROPORTION OF PROFIT THAN IN PREVIOUS YEARS IN COMPANY

* CORONA VIRUS WILL LEAD TO DELAYS IN AWARDING OF CONTRACTS

* DUE TO HIGH VOLUME OF ORDERS ON HAND, MANAGEMENT EXPECTING A SLIGHT WEAKENING OF SALES AND A ONE-TIME 20% DECREASE IN EBIT IN 2020 Source text for Eikon: Further company coverage:

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