DGAP-News: secunet publishes 2011 Annual Financial Statements
(firmenpresse) - DGAP-News: secunet Security Networks AG / Key word(s): Final
Results/Forecast
secunet publishes 2011 Annual Financial Statements
19.03.2012 / 08:00
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secunet publishes 2011 Annual Financial Statements
- Decline in sales from Euro 59.5m to Euro 55.6m (-7%)
- EBIT increased from Euro 3.6m in the previous year to Euro 3.8m (+6%)
- Net income increased from Euro 1.8m to Euro 2.7m (+49%)
- Forecast for 2012: sales increase to Euro 60m; EBIT increase to Euro 5m
[Essen, 19 March 2012] secunet Security Networks AG, a leading German
supplier of high-quality IT security and an IT security partner of the
Federal Republic of Germany, today published its Annual Financial
Statements and Annual Report for fiscal year 2011. The forecast of the
Management Board for 2012 is optimistic: both sales and EBIT are expected
to rise.
The Group revenue of secunet Security Networks AG decreased by 7% from the
previous year's value of Euro 59.5m to Euro 55.6m. The reason for this is
that product business (hardware and licences) fell short of expectations
due to restructuring measures implemented by major customers such as the
German Armed Forces and as a result of the postponement of projects for
international customers. In contrast, capacity in the service units at
secunet Security Networks AG (consultancy and development) was fully
utilised from the middle of 2011. However, the positive effects this
brought about could not compensate for the decline in product business.
secunet works mainly for public sector consumers: 85% of revenue was
generated in the Public Sector business division, of which 54% in the High
Security business unit (SINA product line) and 31% in the Government
business unit (e-government consultancy, IT security for authorities,
biometrics and sovereign documents, ELSTER electronic tax return system).
Revenue in the High Security business unit - primarily product business -
fell from Euro 33.6m in the previous year to Euro 29.8m, while the
Government business unit achieved a revenue increase from Euro 14.9m in
2010 to Euro 17.4m in 2011, mainly through the sale of services.
15% of the secunet Group's revenue in 2011 was generated through business
with industry (Private Sector business division). Revenue declined in both
the Business Security business unit (IT security for companies) and the
Automotive Security business unit (IT security in vehicles and in vehicle
production). These units were heavily influenced by short-term fluctuations
in the investment behaviour of consumers.
Sales of secunet products and solutions outside Germany increased slightly
from Euro 4.8m in 2010 to Euro 5.0m in 2011. The proportion of the Group
revenue attributable to sales outside Germany grew proportionately, from 8%
in the previous year to 9% in the 2011 financial year.
The earnings before interest and taxes (EBIT) of the secunet Group
increased by Euro 0.2m or 6% in the 2011 financial year, rising from Euro
3.6m to Euro 3.8m. This can be attributed to the fact that in total, across
all units, costs fell more sharply than sales, with the decline in selling
expenses and administration costs having a particularly marked effect.
The Company's fiscal burden fell compared to the previous year, leading to
a sharper increase in net income than in EBIT: net income increased by 49%
from Euro 1.8m to Euro 2.7m. Earnings per share increased accordingly from
Euro 0.28 to Euro 0.42.
'Due to restrained demand from our customers, we sustained a decline in
sales in 2011. secunet is active in the project business, which is
characterised by a high degree of volatility,' comments Rainer Baumgart,
chairman of the Management Board of secunet Security Networks AG. 'Since we
were nonetheless able to achieve a significant increase in both EBIT and
net income, we regard the 2011 financial year as satisfactory overall.'
The Management Board is optimistic about 2012. The Company is very well
positioned in terms of personnel, and its portfolio of products and
services is aligned to the requirements of its customers. In addition,
authorities and companies showed great willingness to invest in the
previous year and secunet was able to acquire several larger projects. This
led to an increase in the value of the order book from Euro 26.2m in the
previous year to Euro 39.5m as at 31 December 2011. The Management Board
also forecasts a continued high level of incoming orders for the current
year. A growth forecast for 2012 is derived from these factors: the company
plans to achieve revenue of around Euro 60m, EBIT of approximately Euro 5m
and net income of around Euro 3.5m.
'IT infrastructures continue to be exposed to serious threats: for this
reason alone, the market for IT security will continue to grow.
Furthermore, the potential advantages presented by the application of
technology such as cloud computing and mobile devices are wholly dependent
on IT security,' explains Dr Baumgart. 'We are in a good position to meet
these needs and also enjoy recognition as a partner for successful
projects, not only in Germany but also internationally. It is on this basis
that we look to the current 2012 financial year with optimism.'
Contact
Investor Relations
Dr. Kay M. Rathke
Tel. +49 201 5454-1227
Fax +49 201 5454-1228
E-Mail: investor.relations(at)secunet.com
Press
Christine Skropke
Spokesperson
Patrick Franitza
Press Relations Officer
secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen/Germany
Phone +49 201 54 54-1234
Fax +49 201 54 54-1235
E-mail: presse(at)secunet.com
http://www.secunet.com
About secunet
secunet is one of the leading German providers of high-quality IT security.
Over 280 experts work in the areas of cryptography, e-government, business
security and automotive security, and develop innovative products in these
fields in addition to highly secure and reliable solutions. Many DAX
companies as well as numerous authorities and organisations are among
secunet's national and international customers, which total over 500.
secunet has been the IT security partner of the Federal Republic of Germany
since 2004.
secunet was founded in 1997 and achieved sales of EUR 55.6 million in 2011.
secunet Security Networks AG is listed on the Prime Standard of the German
Stock Exchange
Additional data is available from www.secunet.com
Disclaimer
This press release contains prospective statements. Prospective statements
are statements which do not describe actual facts from the past; they also
comprise of statements about our suppositions and expectations. Every
statement in this press release which reflects our intentions,
suppositions, expectations or forecasts (together with the suppositions
which give rise to such views) constitutes a prospective statement. These
statements refer to plans, estimates and forecasts which the management of
secunet Security Networks AG currently dispose of. Thus prospective
statements only refer to the day on which they were made. We shall accept
no obligation to further develop such statements in the light of new
information or future results.
End of Corporate News
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Language: English
Company: secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen
Germany
Phone: +49 (0)201 - 5454 - 1227
Fax: +49 (0)201 - 5454 - 1228
E-mail: investor.relations(at)secunet.com
Internet: www.secunet.com
ISIN: DE0007276503
WKN: 727650
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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