Zetes reports growing operating results in ID division

Zetes has noted growing operating results in its People ID division for the first half, saying these were supported by contracts for the production of secure documents.The firm has reported sales of €25.4 million, 7.6% down on the same period last year. Meanwhile, it has noted a current EBITDA of €7.7 million, representing growth on 6.6% on the first half of 2015.In its results statement, the company said that the decline in revenues of the ID division (-7.6% compared to H1 2015) is linked to the product mix of executed projects."Compared to the first half of 2015, the vast majority of projects executed were high added value projects (long-term concession contracts, such as social security cards in Côte d'Ivoire). Overall, the division generated a gross margin virtually equivalent to that generated in the first half of 2015, €17.1 million (-0.8%)".Zetes is involved in projects for the production of secure documents in Belgium, Portugal, Israel, Côte d'Ivoire and Gambia. They involve categories such as travel documents (passport, electronic visa), identity documents (national or social identity card) or licences (driving licence).The statement notes that "Zetes' heart and added value lie in its capacity to roll out and operate complete, turnkey computer systems".These systems cover all aspects of people authentication: capture of biographical and biometric data, creation of population files, issue of identity documents protected against counterfeiting and control systems."Watertight, secure systems offer every guarantee of the protection of personal data and the use of data capture or identity checking tools on the ground. Zetes offers its solutions in the form of long-term contracts (known as Build and Operate), reducing the risk and investment for Government customers and increasing visibility and predictability of revenue for the Division".In People ID, no new major Build and Operate type project was carried out in the first half. Therefore, a €1.1 million investments (€0.9 million H1 2015) mainly consisted of replacement and optimization investments. Operating expenses (€9.4 million) are down slightly (-6.1%), and this reflects the additional expenses incurred by Zetes in H1 2015 linked with the early termination of the visa agreement in Senegal.Overall, the group posted sales of €121.5 million in the first half, a 5.4% dip on H1 2015. However, its Gross margin rate is up at 47.0% and its goods ID division's

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