secunet: preliminary annual result for 2010 confirms forecast

In fiscal 2010, the secunet Group posted sales of 59.5 million Euro. Compared with the previous year (64.0 million Euro), this represents a decrease in sales of 4.5 million Euro or 8%. The reason for this is postponement in the acquisition of large-scale projects from public sector clients, especially from the German Armed Forces, one of secunet's major customers. According to the preliminary calculations, secunet also achieved earnings before interest and taxes (EBIT) of 3.6 million Euro in the financial year just ended. Measured against the previous year's EBIT of 3.9 million Euro, this represents a decrease of 0.3 million Euro or 8%.

Originally, secunet expected significantly lower values. The positive fourth quarter was decisive in achieving the improved prognosis; sales of almost 21 million Euro and EBIT of 3.4 million Euro were achieved in the last quarter. Traditionally, the fourth quarter is always the best in the course of the year for secunet Security Networks AG. In 2010, EBIT were positively influenced by a high degree of capacity utilization and the purchase of a major license.

"Thanks to the excellent fourth quarter, we managed to turn the results for fiscal 2010 around, despite initial difficulties," commented Dr. Rainer Baumgart, CEO of secunet Security Networks AG. "The level of threat is still high, which means the demand for state-of-the-art IT security will also remain high."
secunet Security Networks AG will publish its comprehensive 2010 annual report on March 24, 2011.