In the 2020 financial year, the sales revenues of secunet Group increased by 58.7 million euros, or 26%, from 226.9 million euros in the previous year to 285.6 million euros. The strong growth in sales is largely attributable to the increased sales revenues from products and solutions of the SINA product family: in response to changes in the organisation of work as a result of the coronavirus pandemic, German authorities have accelerated the procurement of secure mobile workstations necessary for working in a mobile office.
Mainly on account of the special effect related to the coronavirus pandemic, sales in the Public Sector division – whose products and services are geared towards public clients within and outside Germany, as well as international organisations – rose by 40% from 169.8 million euros in the previous year to 237.1 million euros. The proportion of secunet Group’s sales revenue which was attributable to the Public Sector division in the 2020 financial year was thus 83% (previous year: 75%).
The Business Sector division – which addresses its range of products and services towards companies in the private and healthcare sectors – generated sales revenues of 48.5 million euros in the 2020 financial year after 57.1 million euros in the previous year. In 2019, sales revenues were mainly influenced by the rollout of the secunet healthcare connector to medical practices in Germany. As expected, this one-off effect did not apply in 2020. The major share of the division’s sales revenues for 2020 was achieved in the second half of the year (36.1 million euros). Due to the decline in the division’s revenues, its share of the Group’s revenues also fell from 25% in the previous year to 17% in the 2020 financial year.
The earnings before interest and taxes (EBIT) of secunet Group increased by 56% compared to the previous year, rising from 33.2 million euros to 51.6 million euros. This improvement in EBIT resulted primarily from increased sales revenues in the product business in the Public Sector division.
The Company thus achieved historic record results for the seventh consecutive year in terms of both revenue and EBIT.
secunet Group generated consolidated net income of 35.0 million euros in the 2020 financial year, corresponding to an increase of 12.8 million euros, or 58%, on the previous year (22.2 million euros). Diluted and undiluted earnings per share in 2020 stood at 5.43 euros, compared with 3.44 euros in the previous year.
Net income of secunet Security Networks AG increased from 20.2 million euros in 2019 to 32.8 million euros in 2020. The shareholders of secunet AG are also participating in this positive development: the Management Board and Supervisory Board will propose to the Annual General Meeting to be held on 12 May 2021 that 16.4 million euros be distributed to the shareholders through payment of a dividend of 2.54 euros per dividend-bearing share. This corresponds to 50% of net income for the year, an increase of 63% on the previous year (previous year: 1.56 euros per dividend-bearing share).
As at the end of December 2020, the order book of 149.5 million euros was at a higher level than in the previous year (78.5 million euros).
“The past financial year 2020 presented us all with major challenges. Nevertheless, secunet Group once again closed the past financial year with excellent results. We are allowing our shareholders to share substantially in this positive development,” says Axel Deininger, CEO of secunet Security Networks AG. “At the beginning of 2021, secunet has an excellent market standing and is well positioned for further, sustained growth.”
The excellent business results achieved in the 2020 financial year are primarily attributable to one-off effects due to the extraordinary economic situation in the public sector. For the current 2021 financial year, such effects are not foreseeable at present. Therefore, on 3 November 2020, the Management Board of the Company already confirmed its forecast for secunet Group for the 2021 financial year. Sales revenues are still expected to reach around 260 million euros and earnings before interest and taxes (EBIT) around 38 million euros.
The Annual Report 2020 is available for you to download at www.secunet.com. Next financial date: 24 March 2021, analysts’ conference
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