Corporate | 3 May 2007 08:00
secunet Security Networks AG / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
----------------------------------------------------------------------
• Sales growth: +21% to €8.1 million
• Profitable business: EBIT €0.1 million
• High level of orders: €21.5 million (+ 26%)
[Essen/Germany, 3 May 2007] secunet Security Networks AG, a leading
provider of solutions and products for IT security and high security, has
completed a successful Q1 2007. Sales were up 21% year on year to €8.1
million. The first quarter ended in the black with an EBIT of €0.1 million.
The level of orders on hand of €21.5 million was 26% higher than the
previous year's figure. Thus, the outlook for the year as a whole is a
positive one.
In Q1 2007, the secunet group achieved a significant increase in sales.
With consolidated sales of €8.1 million, secunet enjoyed the best ever Q1
sales level in the company's history. The previous year's sales were beaten
by 21%. This was due to stronger demand for the company's entire product
portfolio. There was strong year-on-year increase in the purchasing
activities of public-sector customers: In Q1 2006 these were severely
affected by a spending freeze.
On the cost side, secunet remains lean. As a result of increased
deliveries, the cost of materials rose 13% compared with the previous year.
The increase in the headcount (227 employees as of the end of the quarter,
+4% year on year) is reflected in a 9% increase in personnel costs compared
with Q1 2006. Depreciation and amortization and other operating expenses
both rose 9%. Altogether, the main cost items rose €0.8 million compared
with the previous year. Compared with Q1 2006, fewer provisions were
reversed to the income statement and as a result other operating income
fell €0.4 million.
The first quarter 2007 was completed with a profit. The earnings before
interest and taxes were €0.1 million, after €0.1 million in the previous
year. After net interest income and taxes, secunet generated a quarterly
surplus of €0.1 million after €0.03 million in the previous year. The
earnings per share were €0.01 (previous year €0.00).
The improved earnings situation also had a positive effect on cash flow,
which nevertheless remained negative in Q1 2007 as a result of bonuses paid
and also the decrease in current liabilities: After €4.0 million in the
previous year, the cash flow from operating activities in Q1 2007 was €2.2
million.
The organizational restructuring of secunet was implemented in Q1 2007.
With the 'Public Sector' ('High Security' and 'Government' business units)
and 'Private Sector' ('Business Security' and 'Automotive' business units)
divisions, secunet can offer its various customer groups focused,
differentiated and requirement-driven service. The initial success of the
restructuring program is becoming apparent in sales, enhanced by last
year's sales efforts: The level of orders to 31 March 2007 rose to €21.5
million, 26% up on the previous year.
'We are very satisfied with business developments in the first quarter,'
says Dr. Rainer Baumgart, secunet Security Networks AG CEO. 'The full order
books, the high capacity utilization and the good economic climate leave us
confident that this development will continue and that we will end up on a
par with the very successful 2005.'
Dr. Kay Rathke
Head of Corporate Communication
secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen/Germany
Phone +49 201 54 54-300
Fax +49 201 54 54-301
E-mail: presse@secunet.com
http://www.secunet.com
DGAP 03.05.2007
----------------------------------------------------------------------
Language: English
Issuer: secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen Deutschland
Phone: +49 (0)201 - 5454 - 0
Fax: +49 (0)201 - 5454 - 456
E-mail: investor.relations@secunet.com
www: www.secunet.com
ISIN: DE0007276503
WKN: 727650
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Hannover, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------