secunet Security Networks AG: 2011 performance in line with forecast

In fiscal 2011, the secunet Group generated revenue of 55.6 million euros. This corresponds to a decline of 3.9 million euros or 7% compared to the previous year (59.5 million euros). The main reason for the decline in revenue can be traced back to the postponement of major projects in the High Security business unit.

At the same time, secunet achieved earnings before interest and taxes (EBIT) of 3.8 million euros in fiscal 2011. Compared to the previous year's figure of 3.6 million euros, this represents an increase of 6%. The EBIT margin increased from 6% to 7%.

This result is due to the very strong last quarter of 2011 – in the fourth quarter of 2011 alone, revenues of almost 23 million euros (41% of annual sales) and an EBIT of around 4.6 million euros were generated. The reasons for this included a large delivery of hardware components in the High Security business unit (SINA).

"Despite significant expenses as a result of project postponements up to the end of the third quarter of 2011, our performance was in line with our forecast from May 2011. We are therefore pleased with the result," commented Dr Rainer Baumgart, Chairman of the Management Board of secunet Security Networks AG, adding: "At the same time, we look to the coming year with confidence, especially considering the number of current orders."

This optimistic outlook is supported by the high number of orders, which totalled 39.5 million euros at the end of 2011, representing an increase of over 50% compared to the previous year's figure of 26.2 million euros.