From January to September 2007 the secunet group achieved sales of Euro 27.1m. Sales for the same period in the previous year were exceeded by 10 percent. The reason for this is the continued and growing demand for IT security. In the third quarter of 2007 income from the secunet group’s sales increased by 6 percent from Euro 9.5m in the previous year to Euro 10.1m.
The increase in cost items for the secunet group was proportionately less in relation to the growth in turnover: secunet was therefore able to achieve earnings before interest and tax (EBIT) for the first nine months of 2007 amounting to Euro 1.0m, an increase of 20 percent in comparison with the previous year. In the third quarter of 2007 the EBIT figure rose by 18 percent from Euro 0.5m in the previous year to Euro 0.6m.
For the period from January to September the Public Sector division achieved sales of Euro 18.2m and an EBIT figure of Euro 0.7m. The Private Sector division finished the first nine months of the year with sales of Euro 8.9m and an EBIT figure of Euro 0.3m. The Public Sector division addresses the demand from state organisations and bodies for IT security and high security; the Private Sector division is oriented towards customers in that sector.
The improved results situation is also reflected in the cash flow. Despite cash outflows for profit-sharing payments and changes in current assets, cash flow from business activities improved from Euro -7.6m in the previous year to Euro -3.4m for the first nine months of 2007.
Following the company tax reform passed in the summer secunet is reversing provisions for deferred taxes. The tax burden is thus increased and net income for the first nine months of 2007 is therefore Euro 0.5m in comparison with Euro 0.6m for the previous year.
The level of orders on hands increased to a value of Euro 21.1m as of the 30th September 2007; an increase of 21 percent in comparison with the previous year. Additional sales revenues from long term framework agreements with German public authorities are not included in this figure. The secunet group has been successful in all areas of business activity: sales to foreign customers showed a marked increase. SINA is finding new buyers in industry.
“The way in which business has developed this year confirms that our strategy is the right one”, according to Dr Rainer Baumgart, Chairman of the Executive Board of secunet Security Networks AG. “We are concentrating on our core competence in IT security, increasing business abroad and are reaching more target customer groups in the private sector.”
Current figures and the outlook for the fourth quarter of 2007 prompt the Executive Board of secunet Security Networks AG to concretise their forecast for 2007: sales revenues are expected to be of a similar order as for 2005. Earnings before interest and tax (EBIT) will be markedly above that for the previous year. Whether the record profits of the year 2005 can be achieved depends on the composition of sales in the last quarter.
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