DGAP-News: P&I Personal & Informatik AG / Key word(s): Half Year Results P&I Personal & Informatik AG: First half of year reinforces growth strategy 12.11.2015 / 14:56 --------------------------------------------------------------------- * Revenue growth of 11.2 % In the first half of its financial year (April 1 to September 30, 2015), P&I Personal & Informatik AG (P&I) generated revenue of EUR 56.7 million (previous year: EUR 51.0 million) and earnings before interest and taxes (EBIT) of EUR 21.6 million (previous year: EUR 19.9 million). This corresponds to a market-leading EBIT margin of 38.0 % (previous year: 39.0 %). Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 23.0 million (previous year: EUR 21.0 million). The P&I Group reported DFVA/SG earnings of EUR 21.8 million (previous year: EUR 15.5 million). The P&I Group had an average of 402 employees (FTE). "The figures for the first half of the year confirm that we are on the right track with our growth strategy," commented P&I CEO Vasilios Triadis. "Our revenue and earnings are in line with our ambitious expectations and serve to reinforce our planning for the financial year as a whole." Consolidated revenue for the first half of the year increased by 11.2 % year-on-year to EUR 56.7 million (previous year: EUR 51.0 million), with organic growth accounting for 7.4 %. Recurring services recorded above-average growth of 18.4 % to EUR 30.4 million (previous year: EUR 25.7 million). Maintenance income, software as a service (SaaS) income and recurring income under service agreements are combined in this separate revenue category. The P&I Group generated 54 % of its revenue from recurring revenue business. Consulting services also grew compared with the previous year, both in traditional "non-recurring business" (EUR +1.4 million) and in recurring service business (EUR +1.4 million). Licence revenue declined slightly year-on-year to EUR 15.3 million. P&I generated EUR 42.1 million (previous year: EUR 38.9 million) or 74 % of its revenue in Germany. The growth in recurring revenue is primarily attributable to the extremely strong licence growth in prior periods and the resulting increase in maintenance income. P&I can also report encouraging growth in the area of service agreements. Revenue in the international business environment increased to EUR 14.6 million (previous year: EUR 12.1 million), largely as a result of acquisitions. As in the past, P&I has been able to convert a substantial proportion of its revenue growth into additional profit in the current financial year. At the same time, the P&I Group has invested in its employees as value creators, in its infrastructure and in products such as P&I BIG DATA, P&I LOGA3 and the HR Business Connector. The cost increase is in line with planning. The Management Board is reiterating its forecast of organic consolidated revenue growth in excess of the 5 % mark in the 2015/2016 financial year. Taking into account the acquisition of Soreco HR AG, the actual revenue growth will be higher. On the basis of the expected revenue increase, the profitability of the P&I Group will remain at its high level providing that significant cost efficiency is achieved, with an EBITDA target in the region of EUR 47 million. "The process of digitisation is a gradual development of our time. P&I recognised this development process as a challenge for human resource management at an early stage and took action accordingly. I presented our approach to our customers at this year's user conference. With Release 15.9 and 16.0, we are offering a P&I LOGA client based on state-of-the-art web technology," commented P&I CEO Vasilios Triadis. "This and other new products, namely the HR Business Connector, will give the HR market and HR managers the opportunity to become strategic business partners for their companies above and beyond their day-to-day HR work. At the same time, these innovations will safeguard P&I's long-term development." --------------------------------------------------------------------- 12.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 412491 12.11.2015