DGAP-News: secunet Security Networks AG - Interim result after the first quarter of 2020: unchanged outlook for the current financial year

Interim result after the first quarter of 2020: unchanged outlook for the current financial year

[Essen, 6 May 2020] secunet Security Networks AG (ISIN DE0007276503, WKN 727650), a leading German provider of high-quality, trustworthy IT security and IT security partner of the Federal Republic of Germany, today publishes its Group Quarterly Statement as at 31 March 2020. In the period from January to March 2020, secunet Group achieved sales revenue of 32.6 million euros (previous year 40.4 million euros) and earnings before interest and taxes (EBIT) of 0.0 million euros (previous year 2.4 million euros). As at the reporting date of 31 March 2020, secunet Group has an order book filled to record levels. The forecast for the current 2020 financial year remains unchanged.

In the period from January to March 2020, secunet Group achieved sales revenue of 32.6 million euros. Compared with the revenue in the same period of the previous year (40.4 million euros), this represents a decline of 19% or 7.8 million euros. The decline is attributable to weaker product business in the Business Sector division, resulting primarily from the lower sales revenues generated with the secunet healthcare connector compared to the first quarter of the previous year, as expected.

Due to the lower sales revenue, earnings before interest and taxes (EBIT) also fell from 2.4 million euros in the first quarter of the previous year to 0.0 million euros.

Sales revenue in the Public Sector division, which is geared towards public clients, rose in the period from January to March 2020 by 5.1 million euros or 24% from the prior-year level (21.3 million euros) to 26.4 million euros. EBIT in the Public Sector division improved from 0.3 million euros during the first three months of 2019 to 1.1 million euros during the same period of the current year. At the same time, sales revenue in the Business Sector division, which addresses its range of products and services towards companies in the private and healthcare sectors, fell in the period from January to March 2020 by 12.9 million euros from the prior-year level (19.1 million euros) to 6.2 million euros. The decline is primarily attributable to the fact that the rollout of healthcare connectors in medical practices in the previous year resulted in a very high increase in sales.

As at 31 March 2020, secunet Group has an order book totalling a record 115.2 million euros. This significantly exceeds the order book at the end of the prior-year quarter (84.4 million euros) and at the end of the 2019 financial year (78.5 million euros).

"We set the bar very high with last year's results. In line with our expectations, we were not able to fully repeat this high level in the past three months," says Axel Deininger, CEO of secunet Security Networks AG. "The record order book as at 31 March and the prospect of continued stable business in secunet's key target markets leave us confident for the full year 2020."

Against the background of the well-filled order book, and subject to further developments in the coronavirus pandemic, the Management Board is adhering to its forecast, which was published with the 2019 Annual Report on 30 March 2020. Accordingly, a slight drop in sales revenues is still anticipated and EBIT for secunet Group is expected to be slightly lower than that of the previous year.

The Group Quarterly Statement as at 31 March 2020 is available for downloading in the section Company / Investor Relations / Financial Reports and News at www.secunet.com. Next financial date: Annual General Meeting of secunet Security Networks AG on 8 July 2020.

Contact


Dr Kay Rathke

Head of Investor Relations

Patrick Franitza

Press Spokesman

secunet Security Networks AG

Kurfürstenstrasse 58

45138 Essen, Germany

Phone: +49 201 5454 1234

Fax: +49 201 5454 1235

e-mail: [email protected]
http://www.secunet.com

About secunet

secunet is one of the leading German providers of high-quality IT security. Over 600 experts work in the areas of cryptography, e-government, business security and automotive security, developing innovative products and highly secure, trustworthy solutions. secunet has more than 500 national and international customers, including many DAX-listed companies, public authorities and organisations. The company is an IT security partner to the Federal Republic of Germany and a partner of the German Alliance for Cyber Security.

secunet was founded in 1997 and achieved revenues of 226.9 million euros in 2019. secunet Security Networks AG is listed on the Prime Standard of the German Stock Exchange.
Further information can be found at www.secunet.com.

Disclaimer
This press release contains predictive statements. Predictive statements are statements that do not describe facts of the past; they also include statements regarding our assumptions and expectations. Any statement in this press release that conveys our intentions, assumptions, expectations or predictions (and the assumptions on which they are based) is a predictive statement. These statements are based on planning, estimates and forecasts that are currently available to the management of secunet Security Networks AG. Predictive statements therefore only apply to the day on which they were made. We assume no obligation to update such statements with regard to new information or future events.