Giesecke & Devrient (G&D) has reported that sales increased by 4.5 percent to 1.83 billion euros (US$1.96 billion) in 2014 and that group earnings were slightly above at 62 million euros – in 2013 these were 56.2 million euros.The firm added that the growth came although 2014 was a year of restructuring, during which important strategic decisions were made.G&D added, however, that all three business units – Banknote, Mobile Security and Government Solutions – fell short of their earning targets.Restructuring expenses amounted to 74 million euros, and group earnings after restructuring were at minus 12 million euros – meaning the net loss for the year amounted to 73 million euros."This performance can be attributed above all to increasing competitive and pricing pressure in all markets relevant to G&D, " said Dr. Walter Schlebusch, Chairman of the Management Board of Giesecke & Devrient."The countermeasures implemented so far had been insufficient. Last year we therefore launched an extensive cost reduction program amounting to 100 million euros, with which we will strengthen our profitability for the long term. In addition, we have undertaken structural changes at the company to enable us to better adapt to market and customer demands in future."Measures have been taken to strengthen all three business units for the future, including reorganization of the Mobile Security and Banknote business units, and the operational realignment of the Government Solutions business unit."With the launch of Veridos GmbH – a joint venture by the Government division and Germany's federal mint, the Bundesdruckerei – we are pooling our international activities, giving us good opportunities for growth," commented Schlebusch on the joint venture, which became operational on January 1, 2015."Despite the current challenges, we are on the right track. Together with the cost reduction program and structural changes, which we have undertaken with a view to the future, the current order situation, the growth markets in Asia and North America, and increasing sales prospects in future segments promise a positive outlook for G&D," continued Schlebusch.
Recent Articles
- Digital ID wallets: How banks are leading the next frontier in secure, AI-driven financial services
- Security printing and identity community to tackle rising document fraud threats
- Identity and payments converge at the 2026 Identity & Payments Summit
- C-Suite leaders take the stage at Identity Week Europe 2026
- Europe’s new biometric border system to enhance entry controls from April 2026
Recent Video
- Will asylum seekers adopt government Digital ID? Netherlands demonstrate a real-world pilot
- Filippo Chiricozzi on Web3, digital ID and the future of finance
- Stephen Chapman praises UK passport system, calls for international standards to support national systems
- Michelle Wilson on building Blue Cavalry Solutions and advancing interoperable digital ID
- “We are looking at how to make biometrics quicker”: Hannes Lember discusses Estonia’s contactless biometric pilot and border innovation
