PSI SE Shows Resilience Post Cyberattack, Analysts Recommend Buy

First Berlin Equity Research GmbH has released an updated report on PSI SE, rating the company's stock as a buy with a price target of €28. The update follows PSI's Q2 results, showing signs of recovery after a mid-February cyberattack.

Q2 sales increased by 1.6% to €62 million, a positive shift after a 13.7% year-on-year decline in Q1. The EBIT loss also reduced to €-4.6 million from €-14.8 million in Q1. Management reaffirmed their annual guidance, projecting a €20-€30 million drop in sales and an EBIT loss in the high single to low double-digit million range.

Management confirmed no client losses due to the cyberattack, suggesting a positive outlook for 2025 as delayed sales are expected to materialize. The Energy Management segment's EBIT margin is anticipated to return to 2023 levels, and the Production Management EBIT margin is projected to rebound to 12%-15%.

CEO Robert Klaffus will provide more details on the company’s medium-term outlook on September 17 in Frankfurt. The buy recommendation and price target remain unchanged.