secunet Security Networks AG / Change in Forecast
10.12.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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[Essen, 12 December 2008] The end of November 2008 sees secunet producing
detailed forecasts for the fiscal year 2008; the company is currently
estimating the secunet groups sales figures for the year at around EUR 50
m. That figure represents an increase of over 20% over the previous year
and goes beyond what the capital market had expected. The current fourth
quarter has again seen additional expenditure that has reduced earnings
before interest and taxes (EBIT) in the second and third quarters of 2008,
and so, while the company is expecting to make a profit in the 2008 fiscal
year, that profit will amount to no more than some EUR 2 m. EBIT will
therefore be 43% down on the result for the previous year.
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Information and Explaination of the Issuer to this News:
secunet Security Networks AG is currently projecting sales of EUR 50 m for
the 2008 fiscal year, a figure over 20% up on that for the previous year,
and one that also goes beyond the capital markets expectations. Analysts
currently agree that sales can be estimated at over EUR 48 m, so sales of
some EUR 17 m are projected for the fourth quarter of 2008, representing an
increase of 18% over the previous years EUR 14.2 m.
The excellent sales figures are not, however, matched by earnings before
interest and taxes (EBIT), as large amounts have been spent on the
preparations for major projects, involving not only higher sales costs but
also expenditure on services provided by third parties while operational
staff had been working on the preparation of offers. These commitments
reduced EBIT throughout the year, but the executive board is expecting
these outgoings to be reduced next year.
An additional factor is that increased sales have, in the present fourth
quarter, been limited by a number of projects having been deferred by
customers, so that secunet has been unable to invoice them. This has also
had an adverse effect on EBIT, which could not have been predicted. These
projects are scheduled to be completed in the first half of 2009.
'2008 has been a year characterised by increased sales and the acquisition
of major projects, and we are more than satisfied with the result of our
sales efforts', comments Dr Rainer Baumgart, chairman of secunet Security
Networks AGs executive board. 'However, this growth has gone hand in hand
with a higher level of expenditure in 2008 than we had reckoned with. What
we aim to do in the coming year is to continue the present growth trend and
become more profitable.'
The value of the orders on the books at the end of November is already
giving cause for confidence, standing as it does at EUR 28.3 m, an increase
of 27% over the figure for September 2008.
secunet Security Networks AG
Corporate Communications
Dr. Kay Rathke
Tel +49 (0)201 54 54 127
E-Mail: kay.rathke@secunet.com
DGAP 10.12.2008
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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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DGAP-Adhoc: secunets forecasts for the 2008 fiscal year: sales exceed expectations, EBIT positive but less than satisfactory
| Source: EQS Group AG