Corporate | 28 March 2008 08:00
secunet Security Networks AG / Final Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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• Publication of the annual report 2007
• Strong increase in sales and EBIT
• Significantly positive cash flow
• Optimistic prospects for the future
[Essen, 28 March 2008] Today, secunet, the leading European provider of
products and services in the IT security and IT high-security sector
publishes its annual report 2007. Compared to the previous year, sales
(with a 13% increase, to Euro 41.3m) and EBIT (with a 60% increase, to Euro
3.5m) increased strongly. The positive profitability report results in a
significant accretion in the balance of liquid funds. The company also sees
itself continuing on the path in the direction of growth: the market
environment is good, the volume of orders on hand is high.
In fiscal year 2007, the secunet Group generated sales of Euro 41.3m – a
13% increase compared to the previous year. The largest percentage of this
amount (43.7%) was generated by the business unit High Security, which
supplies the high-security architecture SINA. Furthermore, group-wide sales
are broken down as follows: 25.2% for the business unit Government; 27.4%
for the business unit Business Security; and 5% for the business unit
Automotive. With that, those units which serve public-sector customers
continue to play the dominant role. A strong increase resulted in abroad
sales: from Euro 2.4m in the year 2006 to Euro 9.1m in the elapsed fiscal
year.
Also, secunet was able to increase its earnings before interest and taxes
(EBIT) from Euro 2.2m to Euro 3.5m. The material cause for this development
was the – in comparison to the increase in sales – merely
under-proportional increase of cost items. In total, costs within the
secunet Group increased, in comparison to the previous year, by 8%: from
Euro 35.8m to Euro 38.6m. The total cost quota still amounts to 93% for the
reporting year, with the previous rate at 98%. The individual rates of
increase for the cost items are: material expenses with an increase of 7%
(here, the driving force is sales of secunet products; that is to say, the
supply of hardware for SINA), depreciation increased by 5%, miscellaneous
operative expenses increased by 15% (higher infrastructure costs due to the
additional personnel, additional expenses caused by process optimisation).
Personnel expenses increased by merely 4%, primarily due to increases in
the variable remuneration components – a result of the company's positive
earnings picture. The number of employees increased from 228 to 236; the
reinforcement took place primarily in the productive unit (consulting and
development).
Especially due to the higher group-wide earnings, the tax burden increased
strongly: from Euro 0.2m to Euro 1.0m. With that, the group-wide net profit
increased by 24%, from Euro 2.2m to Euro 2.7m. The earnings per share
amounted to Euro 0.41 (an increase from Euro 0.33 in the previous year).
With a nearly unchanged rate of investment in business equipment, the cash
flow from operational activities has significantly improved: from Euro
3.3m to +3.3m. In total, the group-wide liquid funds increased by 2.5m.
The outlook towards the current fiscal year is optimistic. For the IT
market, stable growth is predicted; IT security remains a core issue among
official agencies and companies alike. The favourable position which
secunet holds in the core market Germany, along with the anticipated
impulses generated from larger-scale infrastructure projects and the
increasing transactions abroad are only a few aspects which create a
positive mood.
'secunet remains on a long-term path in the direction of growth', as Dr
Rainer Baumgart, CEO of the secunet Security Networks AG commented on these
results. 'We are in a favourable position in a growth market, pursuing a
consistent strategy and looking full of confidence towards the future.'
This optimistic projection is underlined by the company's high volume of
orders on hand, which not only reached (with Euro 16.8m) a record level,
but in 2007, was also higher, on average, than in the previous years.
The 2007 financial statement from secunet Security Networks AG – along with
further information – can be found on the Website www.secunet.com in the
investor relations section. On 8 May 2008, secunet will publish its
quarterly report for 2008; the regular shareholders' meeting of the secunet
Security Networks AG will take place on 29 May 2008.
Press contact
Dr. Kay Rathke
Head of Press Relations
Patrick Franitza
Press Relations Officer
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
28.03.2008 Financial News transmitted by DGAP
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Language: English
Issuer: secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen
Deutschland
Phone: +49 (0)201 - 5454 - 300
Fax: +49 (0)201 - 5454 - 301
E-mail: investor.relations@secunet.com
Internet: www.secunet.com
ISIN: DE0007276503
WKN: 727650
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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