Business description

PSI develops and integrates software control systems: electricity, gas, oil, water solutions; production planning, control, logistics software; monitoring and operating solutions for critical transport, public safety, environmental and disaster prevention.

Stock data

Market cap.€180.4m
Last close€11.49
High / Low (52 weeks)€14.4 / €11.5
Stock market listingDE
Forecast net cash (€m)37.2
Forecast gearing ratio (%)N/A

Price performance

Relative *(5.4)(15.5)(5.8)

* % Relative to local index

Other companies in sector Show

1Spatial Acal
accesso Technology Group ADVA Optical Networking
Advanced Computer Software Group Advanced Micro Devices
AIXTRON All for One Steeb AG
Allocate Software Allot Communications
Alpha and Omega Semiconductor Alphapoint Technology Inc
Amazon Amino Technologies
AsiaCell AT&S Austria Technologie & Systemtechnik
Blancco Technology Group blinkx
blur Group Brady
Bulletproof Group Carclo
Catapult Group International CENIT
Cerillion provides billing, charging and customer management software, primarily to telecommunicatio CityFibre Infrastructure Holdings
CML Microsystems CoAssets
Comptel Craneware
CREALOGIX Cypress Semiconductor
Dillistone Group dotDigital
DSP Group e2v technologies
Eagle Eye Eckoh
Elmos Semiconductor EMIS
EMIS Group Emulex
Endace EnWave Corporation
eServGlobal Esker
Evolving Systems EVR Holdings PLC
Expert System Facebook
Featurespace FFastFill
FinLab AG First Derivatives
First Sensor Focus Solutions Group
Foresight Autonomous Holdings Freelancer
Fusionex International Gamma Communications
GB Group GBST Holdings
Globo GO internet
Himax Technologies Hrvatski Telekom
ifa systems ikeGPS Group
Infinera Inmarsat
Innovation Group InVision
IQE IS Solutions
Jenoptik K3 Business Technology Group
Keywords Studios LRAD Corporation
Magix Manpower Software
Manx Telecom Manz
Maxima Holdings Medicsight
Mensch und Maschine Mercia Technologies
Micro Focus International Micron Technology
Migme Monitise
Montage Technology Morse
My Net Fone Nano Dimension
Nanoco Group nearmap
Nemetschek Netcall
NetDimensions Netflix
Nexus Management O2Micro International
OMG OmniVision Technologies
Orion Health Group Outsourcery
Panorama Synergy Patsystems
Paysafe Group Pericom Semiconductor
Phitek Piteco
PLX Technology Pointer Telocation
Pricer Prodware
Pure Wafer QSC
Real Estate Investar REALTECH
Redflex Holdings Redstone
Reed Elsevier Reply SpA Rex Bionics
Rheinmetall RM
Secunet Seeing Machines
Sepura Serko
Seven Principles Siemens
Sigma Designs Silicom
Silicon Image SimiGon
SinnerSchrader SITO Mobile
SLI Systems Smartpay Holdings
SNP Schneider-Neureither & Partner Software AG
Solera Spansion
Spirent Communications SQS Software Quality Systems AG
Stadium Group StatPro Group
Store Electronic Systems Straker Translations
SuperCom Synchronica
Taptica Technology sector
Texas Instruments Thin Film Electronics
Tikit Group Toumaz
Track Group TXT e-solutions
TZ Limited Ubisense Group
UMT United Mobility Technology United Power Technology
VASCO Data Security Virtual Piggy
Vislink Vista Group International
Vitec Vizrt
VMob Group WANdisco
Wincor Nixdorf WorkPlace Systems International
Xploite Xplore Technologies Corp

Company news

PSI: Bosnia and Herzegovina power utility decides for PSIcontrol

Thu, 01 Dec 2016 06:12:12 GMT

PSI Group 9-mth net result up 3 pct to EUR 3.9 mln

Mon, 31 Oct 2016 08:02:53 GMT

PSI and Irisa collaborate on production management solutions

Fri, 30 Sep 2016 10:06:44 GMT

PSI receives first energy order from the Republic of Kazakhstan

Wed, 31 Aug 2016 09:05:25 GMT

PSI Group H1 sales down at 85.1 mln euros

Wed, 27 Jul 2016 07:07:34 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 175.4 11.1 5.9 27.5 41.8 6.6
2015A 183.7 15.3 9.6 49.1 23.4 10.4
2016E 181.1 15.6 10.8 56.8 20.2 20.3
2017E 187.6 17.7 12.9 67.7 17.0 10.6

Last updated on 21/11/2016

Latest research

Investment summary

PSI’s underwhelming financial performance and lower revenue guidance for FY16 reflect difficult trading conditions as well as retaining price discipline and moving away from lower-quality business lines. The transformation of the PSI’s model should advance in FY17 with the migration of key Production Management modules to its new software platform. We still see significant upside potential if PSI can execute its plan and expand margins well into double digits, although this may be at the expense of organic top-line growth in the near term.

Last updated on 29/11/2016

Industry outlook

Structurally, we believe that PSI remains well placed across a range of industries. Cautious guidance reflects the volatile geopolitical and economic picture, as well as currency volatility. Business is currently being supported by domestic demand, particularly in Energy Management boosted by the energy tariff setting cycle, although demand from other industries/geographies will need to take up some slack as domestic energy demand moderates. The company is now starting to see demand strengthen from investment in next generation, Industry 4.0 projects.

Last updated on 29/11/2016

Key management

Dr Harald Schrimpf, CEO
Harald Fuchs, CFO

Company address

PSI AG Headquarter
Dircksenstraße 42-44
+49 30 2801-0
View website