P&I achieves quarterly target again

• Operating result of 10.5 million euros

• Sales growth of 7.9 percent

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finances

Wiesbaden (euro adhoc) - With sales of 43.8 million euros for the
first three quarters of fiscal 2008/2009 (April 1, 2008 to December
31, 2008), P&I Personal & Informatik AG achieved earnings before
interest and taxes of 10.5 million euros (previous year: 10.3 million
euros). This represents an EBIT margin of 23.9 percent, (previous
year: 23.3 percent). Earnings before depreciation dropped to 12.1
million euros from 12.9 million euros. However, the P&I Group
recorded a small increase in earnings after tax (EAT), rising from
7.5 million euros to 7.7 million euros.

In the first three quarters of fiscal 2008/2009, P&I sales amounted
to 43.8 million euros, down slightly by 0.5 million euros from the
previous year's 44.3 million euros. Taking into account the 3.1
million euros included in last year's sales from the now sold-off
LOGA/400 business, the adjusted sales figure is higher by 6.2
percent.

Licensing sales increased in comparison to the previous year, rising
by 7.9 million euros to 13.6 million euros. Aside from large-scale,
strategic projects in the public administration sector, for example,
the municipal administrations of Erlangen and Fuerth, Q3 Licensing
sales were also augmented by a number of smaller-sized projects with
new SME customers. The share of total Group sales amounts to 31
percent.

In Maintenance business, sales of 15.6 million euros were realised,
year-on-year a decline of 0.9 million euros, or 5.6 percent,
representing a share of Group sales of 36 percent. However, in the
previous year, Maintenance revenue amounting to 2.7 million euros
from the sold-off LOGA/400 business was included.

With 13.5 million euros (previous year: 14.1 million euros) P&I
generated 31 percent of its sales in the Consulting/SI business area.

Despite the sale of LOGA/400 business, revenue from German business
was 35.7 million euros (previous year: 34.1 million euros) a rise of
4.7 percent. Revenue from the international segment, strongly
influenced by Licensing sales of a large foreign BPO provider, was
8.1 million euros. As expected, this was below the previous year's
level (10.2 million euros).

Despite the drop in sales due to the sell-off of the LOGA/400
business, an improved operating result was achieved in the first
three quarters. However, the benefits of cost savings from the sale
of the LOGA/400 business or of the absence of any negative special
effects (such as those in the previous year resulting from the early
closure of the SAR scheme following Carlyle's exit as major
shareholders). were offset by additional expenditure on expanding
international business. This included expenditure on acquisition of
customer bases and personnel leasing software in Austria, plus
further development of our international P&I localisations. "Up to
this point, the economic and financial crisis and its consequences
have not affected us greatly. We were also able to reach the targets
we had set ourselves in Q3," states Vasilios Triadis, CEO of P&I AG.
"The question is how it will go on. P&I will continue to undertake
investments in future, both in respect of development of our product
portfolio and quality assurance as well as with regard to the
professionality of our services. Our goal is to emerge from this
crisis stronger than ever."

end of announcement euro adhoc
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ots Originaltext: P&I Personal & Informatik AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Andreas Granderath

+49 (0)611 7147-267

agranderath@pi-ag.de

Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
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