Gemalto announces Q1 results

04/05/16

Gemalto has announced its results for Q1 2016, with total revenue reaching 691 million euros, up 1% at historical exchange rates and stable at constant exchange rates. The company’s Payment & Identity division, representing 63% of total company revenue, posted sales of 433 million euros, up 17% year-on-year.

The company’s Government Programs business, which generated revenue of 97 million euros, was up 34% versus a flat first quarter in 2015. The increase is a result of strong deliveries of previously won projects in all regions, and 6 million euros from the addition of Trüb, acquired in the second quarter of 2015.

Gemalto notched up several wins in the first quarter, including being selected by Finland for its new secure ePassport and eID rollout.

For 2016, with positive trends in Enterprise, Government Programs, Machine-to-Machine and the US EMV ramp-up effort completed, the firm says it expects to generate a 1.5% increase in gross margin, accelerating its profit from operation expansion towards its 2017 objectives.

“The revenue for the first quarter 2016 illustrates the success of Gemalto’s diversification strategy and the resilience of its business model,” says Olivier Piou, chief executive officer, Gemalto. “Strong performances in Government Programs, Machine-to-Machine, Enterprise and Payment have offset lower revenues from SIM and related services. We continue to focus our efforts and investment on our higher-growth businesses, and confirm the improvement in our gross margin this quarter towards achieving our 2016 and 2017 objectives.” 

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Gemalto announces Q1 results
Gemalto announces Q1 results

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