secunet 9-Month Report 2014: Revenues and EBIT increased, order book improved, forecast confirmed

Between January and September 2014, the secunet Group generated revenues of 48.2 million Euros – a 17% increase compared with the same period in the previous year (41.3 million Euros). At 19.4 million Euros, the revenues for Q3 2014 exceed the revenues for the same quarter in the previous year (13.9 million Euros) by 5.4 million Euros or 39%.

Significantly increased income in the Public Sector business unit contributed to the increase in revenues. In the Public Sector, which supplies the SINA high-security product range and IT security for authorities and international organisations, revenues in the period from January to September 2014 rose by a dramatic 27% from 30.6 million Euros to 38.8 million Euros. At the same time, revenues in the Business Sector, which supplies IT security to private companies, fell from 10.7 million Euros in the first nine months of 2013 to 9.4 million Euros in the current reporting period. The Business Sector handled a major project in 2013 – as a result, the previous year's figure was particularly high.

Cost developments in the secunet Group are largely influenced by the increase in the cost of sales from 32.8 million Euros in the first nine months of 2013 to 38.8 million Euros in the current year (up 18%). Selling expenses (previous year 6.0 million Euros, 2014: 6.3 million Euros) and general administration costs (2013: 2.5 million Euros, current year 2.6 million Euros) have both risen by 6%.

Overall, the costs in the secunet Group increased by 15% from 41.4 million Euros to 47.8 million Euros. secunet therefore concluded the first nine months of 2014 with earnings before interest and taxes (EBIT) of 0.3 million Euros. This represents an improvement of 0.4 million Euros compared with the previous year's figure. In Q3 alone, a 1.3 million Euros increase in EBIT was achieved from 0.3 million Euros in the previous year period to 1.6 million Euros in 2014.

Earnings after tax for the period from January to September 2014 totalled 0.2 million Euros compared to -0.1 million Euros in the previous year. Accordingly, earnings per share for the first six months of the year were 0.03 Euros, having been -0.02 Euros in the same period the previous year.

As of 30 September 2014, the secunet Group's order book according to IFRS stood at 46.6 million Euros, compared to 39.9 million Euros in the previous year, an increase of 17%.

"Our high-quality and reliable solutions are perfectly tailored to our customers' needs: secunet is therefore in demand as an IT security partner. Demand for secunet solutions is accordingly sustained," said Dr Rainer Baumgart, Chairman of the Management Board of secunet Security Networks AG. "This is reflected in the financial results: our expectations for the third quarter were fully met. For the year as a whole we anticipate a continuation of the positive development."

Based on the business figures already achieved and the optimistic outlook for the fourth quarter of 2014, the company's Management Board is confirming its forecast for the year as a whole. A significant increase in both revenues and earnings before interest and taxes (EBIT) compared with the 2013 financial year is anticipated; the business results are expected to exceed those seen in the very successful year 2012.

The 9-Month Report 2014 for secunet Security Networks AG is available to download at www.secunet.com under Investor Relations > News and Publications > Financial Reports. Next date in the financial calendar: 23 January 2015 – publication of the preliminary figures for the 2014 financial year