P&I: increased profits with growth in sales in first half of fiscal 2006/2007

• Operating result (EBIT) rises to € 4.7 million
• Sales growth of 8.1 per cent

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Wiesbaden (euro adhoc) - P&I Personal & Informatik AG increased its
Group earnings before interest and taxes (EBIT) in the first half of
fiscal 2006/2007 (April 1, 2006 to September 30, 2006) to 4.7 million
euros from 3.8 million euros in the previous year. The Prime
Standard-listed HR management software specialists, based in
Wiesbaden, thus achieved an EBIT margin of 19.4 per cent in
comparison with the previous year’s 17.2 per cent. Earnings before
depreciation (EBITDA) rose from 5.5 million euros to the present 6.3
million euros. According to the German Association of Financial
Analysts and Investment Consultants Schmalenbach Society (DFVA/SG),
Group earnings amounted to 3.2 million euros compared to 2.4 million
euros in the previous year. The P&I share developed positively in the
course of the first six months, opening at 16.80 euros and closing at
17.20 euros on September 30, 2006. With the dividend of 3.00 euros
per share paid out in the same period taken into account, this
amounted to a rise of more than 20 per cent.

The renewed improvement in results can be put down to Group sales
increasing by 8.1 % to 24.1 million euros in the first six months of
2006/2007, combined with costs rising at a lower than average rate.
Increases in income from Maintenance and Consulting have been the
determining factors in the overall growth in revenues in the first
half of the fiscal year.

Maintenance business achieved sales of 10.1 million euros,
representing an increase of 1.0 million euros or 11.1 % over the
comparable period year-on-year. This results from stronger Licensing
sales in the past few years. 42 % of Group sales was generated by the
Maintenance business area.

P&I’ s revenue from Service Providing rose by 12 % or 0.8 million
euros, with 7.7 million euros (previous year: 6.8 million euros), or
32 % of sales achieved in the area of Consulting/SI.

Licensing business, accounting for 5.7 million euros, remained at the
previous year’s level. A number of smaller and mid-sized projects
were realised in the first half of fiscal 2006/2007, although no
major contracts such as in the comparable period in the previous year
were generated.

P&I has continued on its successful course in the international
arena, this area contributing positively to Group earnings with 0.4
million euros (previous year -0.3 million euros ) and sales of 3.7
million euros (previous year 2.8 million euros).

"Our mid-year results are on target. They confirm the rightness of
our strategy over the past two years, which we will continue to
pursue in the future," says CEO Vasilios Triadis. "The high
performance and top technological standards of our product palette
stand at the ready. Many companies and public institutions have seen
the potential of our integrated HR software solutions and are
deciding to come on board with P&I."

At the same time, P&I can reaffirm its predicted target for the whole
of 2006/2007, to raise sales by around 10 per cent through organic
growth and to establish the EBIT margin long-term in the region of 20
per cent.

end of announcement euro adhoc 09.11.2006 10:16:51
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ots Originaltext: P&I Personal & Informatik AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Andreas Granderath
Telefon: +49(0)611 7147 267
E-Mail: agranderath@pi-ag.com

Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technologie All Share
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