January 1, 2012 to March 31, 2012 Outline of the 4 th Quarter P&I Personal & Informatik AG
HIGHLIGHTS 2 SALES / EBIT 4 TH QUARTER 2011/2012 Group sales increased slightly by 0.9 per cent to 17.5 million euros in the fourth quarter as compared to the same period in the previous year. The operating result (EBIT) amounted to 4.8 million euros (previous year: 3.6 million euros), which represents an EBIT margin of 27.3 per cent. Whereas growth was planned in for the maintenance business when compared to the previous year, a slight decline was recorded by the Consulting business. The profit situation in the fourth quarter was characterised by the reduction in costs when compared to those recorded during the previous year, which were primarily attributed to the previous year s one-off costs that resulted from the conflicts between groups of shareholders and the change to the shareholding structure as well as the extraordinary AGM and secondly, the revenue that resulted from the termination of the lawsuits and the liquidation of the reserves created during the period. KEY FIGURES ACC. TO IFRS Q4, 2010/2011 Q4, 2011/2012 Variance in 000 euros in percent Licensing 3,753 3,840 2.3% Consulting 5,713 5,063-11.4% Maintenance 7,048 8,029 13.9% Other sales 807 550-31.8% Total sales 17,321 17,482 0.9% EBIT 3,624 4,767 31.5%
HIGHLIGHTS 3 P&I GROUP S ANNUAL RESULT UP TO MARCH 31, 2012 The P&I Group increased sales by 2.2 percent from 69.1 million euros to 70.6 million euros. The EBIT increased by 2.7 million euros to 18.1 million euros and this corresponds to an EBIT margin of 25.7 per cent (previous year: 22.3 per cent). Profitability was characterised during fiscal 2011/2012 by moderate sales growth and reduced costs as compared to those recorded during the previous year. One-off costs that amounted to approximately 3.4 million euros (for legal consultations in particular) were recorded during the previous year and these resulted from the conflicts between groups of shareholders and the change to the shareholding structure. A detailed description of the P&I Group s annual results can be found in the annual report issued by P&I Personal & Informatik. The annual profit shown in P&I AG s annual financial statements for fiscal 2011/2012 amounting to 15,227 million euros will be ceded to ARGON GmbH in compliance with the controlling and profit transfer agreement. The outside shareholders of P&I AG will be paid a compensation payment amounting to 1.55 euros per P&I share after tax by ARGON GmbH. ACQUISITION OF MIRUS SOFTWARE GMBH P&I Personal & Informatik AG, of Horgen, Switzerland, took over Mirus Software AG, of Davos, Switzerland, on March 1, 2012, after they acquired 100 per cent of the shares. Mirus Software AG is the market leader with regard to the back-office software used by the catering, hotel and tourist industries throughout Switzerland. The new company will enable P&I to strengthen its position as a local provider of integrated HR software solutions in the Swiss market and it will also profit from the expertise that Mirus Software AG brings with them. New sales channels for Mirus Software AG s products used in the hotel industry will also open up in other European countries where the P&I Group operates.
4 CONSOLIDATED STATEMENT OF INCOME BALANCING ACC. TO IFRS Quarterly Report Quarterly Report Annual Annual Jan. 1 to Mar. 31, 2012 Jan. 1 to Mar. 31, 2011 Financial Statement Financial Statement April 1, to Mar. 31, 2012 April 1, to Mar. 31, 2011 Details in 000 euros Sales 17,482 17,321 70,604 69,114 Cost of sales 5,808 5,474 21,933 21,758 Gross profit 11,674 11,847 48,671 47,356 Research and development expenses 3,926 3,271 13,740 12,659 Sales and distribution expenses 2,232 2,523 9,511 9,618 Administrative expenses 1,314 1,138 5,428 4,774 Write-down of goodwill and customer bases 1,264 320 2,033 1,304 Other operating income 1,223 5 1,275 54 Other operating expenses -606 976 1,088 3,617 Result of ordinary activities (EBIT) 4,767 3,624 18,146 15,438 Income from investments 395 110 1,200 567 Financing expenses 93 57 110 108 Result of ordinary activities before tax (EBT) 5,069 3,677 19,236 15,897 Tax expenses -994 1,392 3,292 5,037 Profit or loss for the period 6,063 2,285 15,944 10,860 Average number of shares (diluted/undiluted) 7,524,030 7,522,752 7,524,030 7,522,752 Earnings per share in euros (diluted/undiluted) 0.81 0.30 2.12 1.44
5 GROUP'S STATEMENT OF RECOGNISED INCOME AND EXPENDITURE BALANCING ACC. TO IFRS Quarterly Report Quarterly Report Annual Annual Jan. 1 to Mar. 31, 2012 Jan. 1 to Mar. 31, 2011 Financial Statement Financial Statement April 1, to Mar. 31, 2012 April 1, to Mar. 31, 2011 Details in 000 euros Profit/loss of the period 6,063 2,285 15,944 10,860 Foreign exchange translations for foreign business operations 10-40 52 28 thereof change in not realised gains and losses 10-40 52 28 thereof realised gains and losses 0 0 0 0 Effects on tax on income 0 0 0 0 Change in market value of financial assets held for sale 296 55 104 45 thereof change in not realised gains and losses 388 25 108 66 thereof realised gains and losses 42 0 42 0 Effects on tax on income -134 30-46 -21 Other consolidated earnings 306 15 156 73 Group's Statement of recognised income and expenditure 6,369 2,300 16,100 10,933 CONTACT P&I AG Investor Relations Kreuzberger Ring 56 65205 Wiesbaden Telephone +49(0)6117147-267 Telefax +49(0)6117147-367 E-Mail aktie@pi-ag.com Internet WKN 691 340 ISIN DE 0006913403
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