DGAP-News: secunet Security Networks AG / Key word(s): Half Year
Results
secunet after the first six months of 2011: order intake up, EBIT
improved
10.08.2011 / 08:00
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[Essen, 10 August 2011] secunet Security Networks AG (ISIN DE0007276503,
WKN 727650), a leading German supplier of sophisticated IT security and IT
security partner of the Federal Republic of Germany, today publishes its
2011 half-year financial report. The financial results for the half-year
continue to be down on last year. The second quarter results show a trend
reversal, however: The revenue shortfall compared to the previous year is
decreasing, while EBIT is improving significantly. In the second quarter of
2011 the company saw a noticeable improvement in sales prospects, and its
order book grew strongly. For this reason, secunet Security Networks AG is
adhering to its existing forecast for the current financial year.
As announced, the secunet Group generated lower revenue in the first half
of 2011 than in the same period last year. Revenues for January to June
2011 totalled Euro 21.7m, 16% lower than last year's total of Euro 25.8m.
The reason for this year-on-year decline was the postponement of major
projects in the High-Security (SINA) business unit. Revenue in this
business unit fell in the first half of 2011 (-37%, from Euro 14.9m to Euro
9.4m), while the revenue of the Government business unit (+6%, from Euro
7.0m to Euro 7.4m) and the Business Security unit (+4%, from Euro 3.4m to
Euro 3.5m) both rose. The Public Sector business unit, which caters to
authorities and other public-sector consumers, as well as international
organisations, and which encompasses the High-Security and Government
business units, contributed 77% of revenues (last year 85%) and is still
the biggest contributor to group revenue.
Earnings before interest and taxes (EBIT) for the secunet Group in the
first half of 2011 totalled Euro -0.8m, compared with Euro -0.1m in the
first half of 2010. The first quarter of 2011 weighed down on the figures,
with EBIT totalling Euro -1.4m in that quarter. While EBIT had remained
negative at Euro -0.3 m in Q2 2010, it increased to Euro 0.6m in Q2 2011.
This significant improvement is due to the changing composition of revenues
(increased licensing and hardware business).
The result for the secunet Group for the first six months of 2011 was
therefore Euro -0.6m, compared with Euro -0.2m last year. Earnings per
share decreased from Euro -0.03 for the period January to June 2010, to
Euro -0.10 for the same period in 2011.
Cash flow from operating activities in the first half of 2011 amounted to
Euro -2.4m and was therefore almost unchanged from the same period last
year (Euro -2.5m).
The secunet Group's order book at 30 June 2011 stood at Euro 30.1m, which,
compared with last year's figure of Euro 22.5m, represented an increase of
34%.
'secunet Security Networks AG's sales situation has improved markedly in
recent months,' says Dr Rainer Baumgart, Chairman of the Management Board
of secunet Security Networks AG. 'Clients are ordering more, which includes
the German army, one of our major customers. Order intake and
orders on hand are both continuing to rise. As a result, we're feeling
optimistic as far as the second half of 2011 is concerned.'
Traditionally, secunet Security Networks AG records most of its business in
the second half of the year. This is due to the nature of the procurement
processes of public sector consumers, which make up the bulk of the
clientele. This year's figures indicate that this will also probably be the
case in 2011. Business performance in 2011 will be even more reliant on the
second half of the year. For these reasons, the Management Board of secunet
Security Networks AG confirms its forecast for 2011. It expects revenues to
be slightly lower than last year and the EBIT margin to be the same as last
year.
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 - 1234
Fax: +49 (0)201 - 5454 - 1235
E-mail: investor.relations@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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134915 10.08.2011
DGAP-News: secunet after the first six months of 2011: order intake up, EBIT improved
| Source: EQS Group AG