secunet Security Networks AG increases revenue and EBIT in the nine-month period – positive outlook for the full year
[Essen, Germany, 12 November 2024] secunet Security Networks AG (ISIN DE0007276503, WKN 727650), Germany's leading cybersecurity company and IT security partner of the Federal Republic of Germany, today publishes its Group Quarterly Statement as at 30 September 2024. Both revenue and earnings before interest and taxes (EBIT) increased in the first nine months. The positive order intake trend continues. The outlook for the full year envisages a strong fourth quarter.
secunet Group closed the first nine months of the 2024 financial year with a 7% increase in revenue to 254.8 million euros (previous year: 239.0 million euros). This growth is mainly due to positive business momentum in the Public Sector segment. In the third quarter, revenues of 110.5 million euros were generated – an increase of 26% over the previous year (87.5 million euros).
EBIT reached 17.6 million euros, exceeding the previous year's figure (9.7 million euros) by 82%. In the third quarter, EBIT amounted to 16.1 million euros, almost tripling compared to the previous year (5.7 million euros). Both the increase in sales and a lower material cost ratio contributed to the improvement in earnings. On the other hand, a partial inventory adjustment in the amount of 3.7 million euros had a negative impact on the results. It should also be noted that the previous year's result was positively influenced by a revaluation of the earn-out clause agreed as part of the acquisition of SysEleven GmbH amounting to 2.6 million euros.
The order situation continues to develop positively. In the reporting period, incoming orders increased by 22% to 294.3 million euros (previous year: 240.9 million euros). As a result, the order book position as at 30 September 2024 rose by 16% to 229.7 million euros compared to the previous year's reporting date (198.0 million euros).
\"We are very satisfied with the business performance in the first nine months. The results achieved provide a solid starting position for the fourth quarter, which is traditionally the strongest quarter of the year,\" says Axel Deininger, CEO of secunet Security Networks AG. \"The order situation continues to develop positively and the additional sales opportunities also make us optimistic. We are therefore looking forward to the final quarter with confidence and are well on track to achieve our targets for the year.\"
The Management Board expects a strong fourth quarter. This assessment is based on the high order backlog and the usual seasonal momentum at the end of the year. In an ad hoc announcement on 21 October 2024, the Management Board slightly raised its revenue forecast for the 2024 financial year. Revenues are now expected to be just over 400 million euros. Previously, revenues of around 390 million euros were expected. Due to the special effects mentioned above, EBIT is still forecast at around 42 million euros.
The Group Quarterly Statement as at 30 September 2024 is available for download at www.secunet.com.
Investor Relations Contact
Philipp Gröber
Director Investor Relations
Phone: +49 201 5454-3937
E-mail: investor.relations@secunet.com
secunet Security Networks AG
Kurfürstenstrasse 58
45138 Essen
http://www.secunet.com
ISIN: DE0007276503
WKN: 727650
Listed: Regulated market in Frankfurt (Prime Standard); open market trading in Berlin, Bremen, Düsseldorf, Hamburg, Hanover, Munich and Stuttgart
secunet - Protecting Digital Infrastructures
secunet is Germany's leading cybersecurity company. In an increasingly networked world, the company uses a combination of products and consulting to ensure resilient digital infrastructures and the highest possible level of protection for data, applications and digital identities. secunet specialises in areas where there are particular security requirements - such as cloud, IIoT, eGovernment and eHealth. With secunet's security solutions, companies can comply with the highest security standards in digitalisation projects and thus drive their digital transformation forward.
Over 1,000 experts strengthen the digital sovereignty of governments, companies and society. Its clients include federal ministries, more than 20 DAX-listed companies and other national and international organisations. The company was founded in 1997. It is listed in the Prime Standard of Deutsche Börse and generated revenue of around 393 million euros in 2023.
secunet is an IT security partner of the Federal Republic of Germany and a partner of the Alliance for Cyber Security.
Further information can be found at www.secunet.com.
Disclaimer
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this communication that reflects our intentions, assumptions, expectations or forecasts (as well as the underlying assumptions) is a forward-looking statement. These statements are based on plans, estimates and forecasts that are currently available to the management of secunet Security Networks AG. Forward-looking statements therefore relate only to the date on which they are made. We assume no obligation to update such statements in the light of new information or future events.