PSI with Significant Growth in 2023 after Strong Final Quarter

Berlin, June 4, 2024 – PSI Group reported an 8.9% increase in sales to 269.9 million euros in 2023. However, the operating result dropped significantly to 5.6 million euros due to one-off effects. Consolidated net income fell to 0.3 million euros, while new orders rose 17.7% to 297.3 million euros, mainly driven by gains in Malaysia, Electrical Grids, and Logistics divisions.

The Energy Management segment saw a 6.5% rise in sales to 138.9 million euros but experienced a considerable decline in operational results to -7.8 million euros. The Production Management segment increased sales by 11.5% to 131 million euros with a slight improvement in its operating result to 20.4 million euros.

Meanwhile, the company faced a cyberattack in February 2024, causing operations to shut down temporarily. The economic impact is still uncertain, with potential lost orders and sales estimated between 20 to 30 million euros. Despite this, PSI's operating cash flow significantly improved to 16.8 million euros, and cash and cash equivalents increased to 50.5 million euros.