Earnings Release • May 8, 2008
Earnings Release
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Corporate | 8 May 2008 08:00
secunet in the first quarter of 2008: Strong growth in sales and earnings
secunet Security Networks AG / Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
secunet in the first quarter of 2008: Strong growth in sales and earnings
[Essen, 8 May 2008] secunet Security Networks AG, leading European provider
of IT security and high security solutions and products, has begun the
business year of 2008 with an outstanding first quarter: There were
pleasing increases in sales and earnings. With a high level of capacity
utilisation, the volume of orders has risen significantly in comparison
with the end of 2007: All the indicators are pointing to positive
developments for the year as a whole.
In comparison with the previous year, the secunet group has achieved a
significant growth in sales in the first quarter of 2008. With group sales
of Euro 10.4m secunet has exceeded the record sales of the first quarter of
2007 by 28 percent. All the main segments have contributed to the growth.
The business unit of High Security, with over 50 percent of sales, was
again responsible for the largest proportion of turnover with products and
services associated with all aspects of the SINA range of products. Sales
to customers based abroad have also increased further.
The main cost items have changed to varying degrees in comparison with the
first quarter of the previous year. In spite of an increase in the number
of employees (up by 9 percent to 247 employees), personnel expenses have
risen only slightly by 2.3 percent. However, other operating costs, driven
by higher expenditure on sales support and distribution together with
higher rental levels, have increased by 22 percent. Materials costs have
almost doubled due to a higher volume of goods supplied in association with
SINA projects. Depreciation is lower. In total and after costs, the figure
for earnings before interest and tax (EBIT) was Euro 0.4m in comparison
with Euro 0.1m for the previous year. The main contribution to this came
from the Business Security unit, a unit in which there was a lower level of
investment in infrastructure in comparison with the High Security and
Government units. After tax the figure for the quarterly profit for the
secunet group was Euro 0.4m. In comparison with the previous year profits
have risen more than four-fold. Earnings per share for the first three
months of the year have risen accordingly from Euro 0.01 to 0.06.
The improved earnings situation is indeed reflected in the cash flow.
However, the payment of the variable components of salaries in the first
quarter and changes in current assets produced a negative cash flow figure
for the period from January to March 2008 of Euro -3.4m in comparison with
Euro -2.4m in the previous year. Accordingly the level of liquid assets was
down from Euro 10.9m as of 31 December 2007 to Euro 7.6m for the 31 March
2008.
The volume of orders continues at a high level. At Euro 19.2m at the end of
the first quarter it is significantly higher than at the end of 2007 (Euro
16.8m). Due to the pleasingly high level of capacity utilisation the volume
of orders as for the 31 March 2007 (Euro 21.5m) was not exceeded. The
constant high level of demand for secunet’s products and services, together
with a market environment promising continued growth, suggest an optimistic
outlook for the current business year.
'We are well placed and are recognised and in demand in the market as a
specialist,' commented Dr Rainer Baumgart, the Chairman of the Executive
Board. 'To the advantage of our customers we are getting better all the
time. And together with this we are anticipating growth in the current
year, which could definitely be of the same order as for last year.'
The 3-Month-Report 2008, an analyst’s presentation and further information
about secunet Security Networks AG can be found on the internet at
www.secunet.com. Next dates in the financial calendar: Annual General
Meeting on the 29 May 2008, Half-Year Report on the 14 August
2008.
Dr. Kay Rathke
Director Corporate Communications
Head of Press Relations
Patrick Franitza
Press Relations Officer
secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen/Germany
Phone +49 201 54 54-300
Fax +49 201 54 54-301
E-mail: [email protected]
http://www.secunet.com
Language: English
Issuer: secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen
Deutschland
Phone: +49 (0)201 - 5454 - 300
Fax: +49 (0)201 - 5454 - 301
E-mail: [email protected]
Internet: www.secunet.com
ISIN: DE0007276503
WKN: 727650
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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