Annual Financial Statement P&I Personal & Informatik AG April 1 ...

P&I Personal & Informatik Combined Management Report (Group and Cooperation)
P&I Group sales grew in fiscal 2010/2011 to 69.1 million euros from 63.3 million euros
in the previous year. The 9.2 per cent increase in sales recorded during the fiscal
year that has just ended, which lies well in the upper single digit range, indicates that
it is exclusively organic and is distributed across all of our sales divisions, which
covers licensing, the service business and the high profit maintenance business. In
particular, the development of the licensing sales is very important for the Group as it
is seen as the engine in P&I’s business model. Permanent Innovative capacity, rapid
reaction to enable us to meet our customer’s new requirements and ensuring the safe
fulfilment of these increased demands by providing efficient solutions are the basis of
our growth.
Sales (in 000 euros) 2009/2010 2010/2011 Variance
Licensing 15,483 16,905 9.2%
Consulting 21,350 23,169 8.5%
Maintenance 24,332 26,503 8.9%
Other 2,132 2,537 19.1%
Total 63,297 69,114 9.2%
Licensing business
The Company has now implemented investment projects that were previously
stopped due to the poor economic situation prevailing in fiscal 2009/2010 and we
have virtually returned to the level enjoyed prior to the crisis.
Licensing sales, which amounted to 16.9 million euros, recorded a 9.2 per cent
increase when compared to the previous year’s sales of 15.5 million euros. This
means that 24.5 per cent of overall Group sales came from the licensing business.
New customer acquisitions became the growth engine in addition to a multitude of
small and medium sized projects undertaken with our existing customers. Innovative
module solutions, the time management solution and the web-based HCM HR
solution were all extremely popular.
Current licensing sales are an important indicator for the future for the P&I Group, as
licence sales are followed after a certain period by regular annual maintenance
services or else they ensure the maintenance for the coming year in the case of
migration customers.
Maintenance business
The maintenance business recorded a continuous increase in their sales
development. Development of P&I's maintenance service income mainly follows the
licensing sales realised during the previous years. Revenue of 26.5 million euros was
generated by the maintenance business. This is a year-on-year increase of 2.2 million
euros or 8.9 per cent, which represents a 38.4 per cent share of overall sales. The
excellent maintenance business is mainly the result of the successful licence sales
realised during the previous year. A climb in maintenance income results in increased
earning power, since the expenses for maintaining the software remain virtually
independent of the number of customers to be serviced.
Product income linked to the attractive margins – the sum from licensing and
maintenance revenues – increased by 9.0 per cent (previous year: 3.7 per cent).
Virtually 63 per cent of overall P&I sales were generated by these product sectors.
Consulting and service businesses
P&I recorded an 8.5 per cent or 1.8 million euros increase over the previous year’s
result in the Consulting/System Integration business sectors, which amounted to 23.2
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