Secunet reports 23% rise in revenues

German IT security experts the Secunet Group saw revenues rise by 23% to 59.4 million euros in comparison to the first nine months of the previous year, the company has reported.The company said the growth in revenues is essentially accounted for by an increase in sales for products and services relating to cyber security, as well as for SINA cryptographic products, which the Public Sector business unit supplies to public clients.The Public Sector business unit continues to account for the majority of the secunet Group revenues at 86% (previous year: 80%). Compared to the previous year, revenues in the Public Sector business unit rose by 32% from 38.8 million euros to 51.1 million euros.In the Business Sector business unit, which provides services and solutions for the specific requirements of companies in the private sector, expectations as regards consulting for providers of critical infrastructures have not yet been met: in the first nine months of 2015, the revenues were 8.3 million euros compared with 9.5 million euros in the same period of the previous year.The costs in the secunet Group rose less sharply than revenues: accordingly, the earnings before interest and taxes (EBIT) of the secunet Group improved compared to the previous year from 0.3 million euros to 2.2 million euros. The secunet Group generated group earnings for the first nine months of 2015 of 1.8 million euros compared to 0.2 million euros in the previous year. Diluted and undiluted earnings per share for the period January to September 2015 stood at 0.28 euros, compared to 0.03 euros in the previous year."Specialisation in high-quality and reliable cyber security 'made in Germany' ensured consistently positive business performance in the first nine months of 2015," said Dr Rainer Baumgart, Chairman of the Management Board of secunet Security Networks AG. "We shall continue to systematically focus on this strength which supports us in our long-term growth."The order book of the secunet Group according to IFRS as at the end of September 2015 was 38.0 million euros, following 46.6 million euros on the reporting date of the previous year. The fourth quarter of 2014 was strongly influenced by recovery effects with purchases by major customers; the business results were therefore outstanding.These effects are not expected in 2015 – the change in the order book already indicates this. In light of this, the Management Board is confirming its forecast for the 2015 financial year: it expects revenues and EBIT to remain at around the same level as in the previous year. Contrary to the outlook published with the Annual Report 2014 (as at March 2015), it is not expected that the Business Sector will have an increasing share in Group revenues in 2015.Note:secunet will be exhibiting at SDW 2016, 10-12 May, London, UK. SDW is a world-leading conference and exhibition event providing a global showcase for next-generation human identity solutions, focusing on intrinsic document security and on the new cutting-edge secure infrastructure now required to produce and use these advanced documents in live situations. http://www.sdw2016.com

Also in the news:

First African Mobile Identity Ecosystem leverages OSIA Smart Card Alliance launches white paper Firms reveal 'end-to-end’ mobile security solution