PSI Business Shows First Signs of Stabilization in the 2nd Quarter

PSI Software SE reported a 16% increase in incoming orders to €59 million for Q2 2024, compared to the same quarter the previous year. However, sales over the first half of 2024 declined by 5.8% to €112.3 million. The EBIT also remained negative at -€4.6 million, though showing improvement from Q2 2023's -€9.4 million.

The cyberattack in February 2024 significantly impacted overall results. The Energy Management segment saw a 7.6% decrease in sales to €53.4 million and a drastic reduction in its operating result to -€16.2 million. In contrast, the Production Management segment experienced a 4.2% sales drop, but recorded positive figures in the second quarter.

Despite these challenges, PSI has undertaken measures to increase IT security and plans to streamline its organizational structure. Cash flow from operations turned negative at -€17.6 million due to the cyberattack, and cash equivalents fell to €38 million.