PSI Software (PSAN) Q4 2023 earnings summary

Executive summary

• Sales rose 8.9% year-over-year to €269.9 million, with new orders up 17.7% to €297.3 million.

• Operating result dropped 72.4% to €5.6 million, impacted by one-off effects and project overruns.

• Net income fell sharply to €0.3 million from €9.7 million year-over-year.

Financial highlights

• Operating cash flow improved to €16.8 million from €3.5 million year-over-year.

• Cash and cash equivalents increased to €50.5 million, offset by higher financial liabilities of €15.3 million.

• Earnings per share declined to €0.02 from €0.62 year-over-year.

Outlook and guidance

• 2024 outlook clouded by a February cyberattack, with potential loss of €20–30 million in orders and sales.

• Negative operating result expected in the upper single-digit to lower double-digit million range for 2024.