secunet Security Networks AG

Quarterly Report • Nov 9, 2011

News Details

Corporate | 9 November 2011 08:00

secunet publishes 9-Month Report 2011: High volume of orders, earnings as expected

secunet Security Networks AG / Key word(s): Interim Report/Quarter
Results

09.11.2011 / 08:00

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[Essen, 9 November 2011] secunet Security Networks AG (ISIN DE0007276503,
WKN 727650), a leading German supplier of reliable IT security solutions
and IT security partner of the Federal Republic of Germany, today publishes
its 9-Month Report 2011. As expected, revenue and earnings are below the
previous year's figure; the forecast for the year as a whole therefore
remains unchanged. The order book continues to grow at a high rate: the
medium to long-term outlook is therefore positive.
In the months from January to September 2011, the secunet Group generated
revenue of EUR 32.8 million. This corresponds to a decline of 15% compared
to the same reporting period of the previous year (EUR 38.4 million). The
reason for this decline was the postponement of major projects in the High
Security sector. With revenue of EUR 13.7 million, the High Security
business unit (SINA products) shows a 36% decrease in revenue compared to
the previous year (EUR 21.3 million). In contrast, business generated by
services is proceeding satisfactorily and capacity utilisation in the
consulting-intensive areas is correspondingly high. This can be seen in the
Government business unit, where revenue for the reporting period from
January to September increased by 18% from EUR 10.1 million in 2010 to EUR
11.9 million in the current year. The focus of secunet's business continues
to be on authorities and international organisations: 78% of the secunet
Group's revenue in the first nine months of 2011 is attributable to this
target group.
Between January and September 2011, the secunet Group generated earnings
before interest and taxes (EBIT) of EUR -0.8 million. Compared to the
previous year's figure of EUR 0.2 million, this corresponds to an EBIT
decline of around EUR 1 million. The result for the reporting period was
EUR -0.4 million compared to EUR -0.1 million in the previous year.
Earnings per share for the first nine months of 2011 total EUR -0.06; in
the previous year, this figure stood at EUR 0.01.
Cash flow from operating activities in the first nine months of 2011
amounted to EUR -1.0 million in comparison to EUR -1.6 million for the
months of January to September 2010.
The sales-related development of secunet Security Networks AG in the first
nine months of 2011 is very positive: the secunet Security Networks order
book grew continuously and, as at 30 September 2011, stood at EUR 33.3
million. Compared to the figure of EUR 21.4 million on the same reporting
date in the previous year, this represents a sharp increase of 56%.
'IT systems in industry as well as in governments are at high risk and the
threats are currently increasing: we service a growth market. This means
that there is a long-term increase in demand for our products and services.
Following changes to our customers' structures, the corresponding orders
have noticeably increased again during the course of the year,' explains Dr
Rainer Baumgart, Chairman of the Management Board of secunet Security
Networks AG, adding: 'Many of the projects shown in the order book generate
revenue over several periods, which is the basis for our optimistic outlook
over the medium to long term.'
secunet's business performance during the year is always characterised by a
focus on the second half of the year and a strong fourth quarter. This is
due to the nature of the procurement processes of public sector consumers.
The Management Board expects an especially strong fourth quarter for the
2011 financial year. secunet Security Networks AG is therefore maintaining
its forecast for 2011: revenues are expected to be slightly below the
previous year's level.

End of Corporate News

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Language: English
Company: secunet Security Networks AG
Kronprinzenstrasse 30
45128 Essen
Germany
Phone: +49 (0)201 - 5454 - 1227
Fax: +49 (0)201 - 5454 - 1228
E-mail: investor.relations@secunet.com
Internet: www.secunet.com
ISIN: DE0007276503
WKN: 727650
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart

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