Group revenue amounted to 65.4 million euros (Q1 2021: 71.2 million euros) and earnings before interest and taxes (EBIT) were 8.5 million euros (Q1 2021: 12.2 million euros). Against the background of decreasing pandemic-related market effects and the associated normalisation of the demand situation in the public customer segment, the Public Sector segment recorded revenue of 53.7 million euros (Q1 2021: 56.2 million euros). EBIT amounted to 7.8 million euros (Q1 2021: 9.8 million euros).
The Business Sector segment, which addresses its range of products and services towards companies in the private sector and the healthcare sector, generated revenue of 11.8 million euros in the first quarter of 2022 (Q1 2021: 15.1 million euros). The main reason for this development was the expected lower demand for software licences in the area of the secunet connector. Demand for these was particularly strong in the first half of 2021. Therefore, a correspondingly high sales volume was achieved in the comparable quarter of the previous year with a favourable margin profile at the same time. As a result, EBIT in the Business Sector amounted to 0.8 million euros (Q1 2021: 2.4 million euros).
secunet Group's order book as of 31 March 2022 amounted to 184.3 million euros and were thus approximately the same level as the record figure at the end of financial year 2021 (185.2 million euros). Compared to the previous year's reporting date of 31 March 2021 (176.9 million euros), the order book increased slightly.
"We have made a good start to the current financial year 2022. Revenue and earnings are in line with our expectations and confirm the assumptions of our planning for the full year 2022," said Axel Deininger, CEO of secunet Security Networks AG. "We expect this development to continue over the course of the year. Demand for our high-quality and trustworthy products and solutions remains high and we meet all the requirements to benefit from this. We are therefore optimistic that we will achieve the targets we have set for the full year 2022. However, the many problems in the supply chains, such as the supply bottlenecks for chip and semiconductor components, continue to weigh on the IT market and therefore remain a factor of uncertainty."
The Management Board confirms its forecast for the full year 2022. Revenues of around 320 million euros and an EBIT of around 50 million euros are expected. The outlook assumes that the procurement situation in the global chip and semiconductor market will not deteriorate significantly. A lack of supply of important components could lead to significant restrictions and delays in customer projects.
The Group Quarterly Statement as at 31 March 2022 is available for you to download at www.secunet.com.
This press release contains predictive statements. Predictive statements are statements that do not describe facts of the past; they also include statements regarding our assumptions and expectations. Any statement in this press release that conveys our intentions, assumptions, expectations or predictions (and the assumptions on which they are based) is a predictive statement. These statements are based on planning, estimates and forecasts that are currently available to the management of secunet Security Networks AG. Predictive statements therefore only apply to the day on which they were made. We assume no obligation to update such statements with regard to new information or future events.