secunet: Q1 2012 with profitable revenue growth

In the first quarter of 2012, the Group revenue of secunet Security Networks AG increased by 22% from the previous year's value of Euro 10.2m to Euro 12.5m. All secunet's business units contributed to the strong increase in revenue. A particularly substantial rise was reported in the service business (consulting) in the Business Security and Government business units.

secunet continues to work mainly for public sector consumers: 75% of revenue was generated in the Public Sector business division, of which 42% in the High Security business unit (SINA product line) and 33% in the Government business unit (e-government consultancy, IT security for authorities, biometrics and sovereign documents, ELSTER electronic tax return system). Compared with the same quarter in the previous year, revenue in the High Security business unit – primarily product business – increased in the first quarter of 2012 by 11% from Euro 4.7m to Euro 5.3m. At the same time, the Government business unit achieved – primarily through the sale of services – a revenue increase of 25% from Euro 3.3m in Q1 2011 to Euro 4.2m in the first quarter of the current year.

25% of the secunet Group's revenue in the first quarter of 2012 was generated through business with industry (Private Sector business division). Revenue increased significantly in both the Business Security (IT security for companies: +58% from Euro 1.6m to Euro 2.5m) and Automotive Security (IT security in vehicles and vehicle production: +38% from Euro 0.4m to Euro 0.6m) business units. This is due to a general improvement in the level of demand, including for larger projects.

As a result of the accompanying high level of capacity utilisation, the revenue increase of Euro 2.3m has been registered to a great extent in the income statement: earnings before interest and taxes (EBIT) of the secunet Group for the period from January to March 2012 totalled Euro 0.1m. Compared with the previous year's value of Euro -1.4m, this represents a significant increase of Euro 1.5m.

The result for the reporting period increased from Euro -1.0m in the first quarter of 2011 to Euro 0.1m in the first quarter of 2012. Earnings per share for the first three months increased from Euro -0.16 to Euro 0.02.

The value of secunet Security Networks AG's order book remains high and totalled Euro 41.8m as at 31 March 2012. Compared with the previous year's value of Euro 27.8m, this represents an increase of Euro 14m or 50%.

"Thanks to the strong increase in revenue and the level of profitability resulting from capacity utilisation in the first quarter, we have made a great start to 2012," comments Dr Rainer Baumgart, Chairman of the Management Board of secunet Security Networks AG. "Our excellent offering of high-quality services and products is reflected in the high number of orders, which signifies that this is a sustainable development."

The Management Board is therefore maintaining the targets for the 2012 financial year: revenue of approximately Euro 60m with EBIT of around Euro 5m.

The 3-Month-Report 2012 is available to download on the secunet website under Investor Relations / News and Publications / Financial Reports. Next date in the financial calendar: Ordinary General Meeting of secunet Security Networks AG on 13 June 2012 in Essen.



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