Giesecke+Devrient reports higher earnings

19/04/18

Security technology group Giesecke+Devrient (G+D) has reported that it exceeded the record revenue achieved in the previous year, with a rise of more than 2%. The adjusted earnings before interest and taxes (EBIT) increased by 4% year-on-year, to €130 million. This means that G+D has more than doubled its EBIT within the last four years. All business sectors – Currency Technology, Mobile Security, Veridos, and secunet – have again made a positive contribution towards this result. G+D recorded a significantly higher net income of €67 million, a rise of 28% on the previous year.

“G+D achieved a very good result in the 2017 fiscal year. In our four core areas payment, connectivity, identities, and digital security, we are in the strongest position we’ve ever been,” said Ralf Wintergerst, CEO of Giesecke+Devrient. “With our solutions we help to ensure that the most valuable assets of a digital society – digital identities – are secure and protected.”

G+D Currency Technology GmbH far exceeded expectations in the 2017 fiscal year, and passed the €1 billion revenue mark for the first time in the company’s history. Revenue was €1017 million, up by 10% compared with the previous year. Key drivers of this increase were banknote processing business and the smart automation of the cash cycle.

secunet AG, a quoted company, adjusted its forecasts upward several times over the course of the record year of 2017, increasing its sales by 38% to more than €158 million. Alongside the sharp rise in sales in the SINA product family, external consultancy services also contributed strongly to growth.

Veridos GmbH further improved its order quality in 2017, and was able to significantly broaden its customer base. Revenue was €167 million, representing a decrease of 9%. This effect can be attributed to the scheduled run-out of a major project in Iraq, from which Veridos had benefited hugely in the previous year.

G+D Mobile Security GmbH was able to increase market share in the areas of electronic and digital payment, as well as in SIM card business. Slowing in the market, particularly in the USA, caused a slight fall in the sales trend of 6% to €812 million. Mobile Security saw great momentum in the product areas of eSIM management and mobile payment.

 

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