PSI SE's Q3 Results Show Stabilization Amidst Cyberattack Recovery

PSI SE's recent research report from First Berlin Equity Research highlights a stabilizing rebound in the company's Q3 2024 results following a mid-February cyberattack. Quarterly sales remained steady at €65.1 million, comparable to the previous year, while EBIT balanced at breakeven after significant losses earlier in the year.

Order intake saw a considerable drop by 36.2% compared to Q3 2023, attributing the decline to major orders last year from Malaysia, Swissgrid, and Deichmann. Despite this, EBIT is forecasted to improve to €4.6 million by Q4, aligning with management's yearly guidance.

The introduction of the 'Control System of the Future' offers potential for higher EBIT margins in Energy Management, though a conservative outlook was adopted, reducing 2025 forecasts by 11.7%. Nevertheless, the influence on the share's target price remains minimal, now valued at €25, with an "Add" recommendation maintained.