EQS-News

secunet Security Networks AG: Start to the year as planned with improved sales and EBIT in the first quarter, forecast confirmed

EQS-News: secunet Security Networks AG / Key word(s): Quarterly / Interim Statement/Quarter Results secunet Security Networks AG: Start to the year as planned with improved sales and EBIT in the first quarter, forecast confirmed 08.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. secunet Security Networks AG: Start to the year as planned with improved sales and EBIT in the first quarter, forecast confirmed

[Essen, Germany, 8 May 2024] secunet Security Networks AG (ISIN DE0007276503, WKN 727650), Germany's leading cybersecurity company and IT security partner of the Federal Republic of Germany, has started the 2024 financial year with an improved performance compared to the previous year. Both revenue and earnings before interest and taxes (EBIT) increased in the first quarter. Overall, the development is in line with expectations. The targets for the current financial year are therefore confirmed.

In the first three months of the 2024 financial year, secunet Group increased its revenue by 4% to 57.6 million euros compared to the same period of the previous year (55.2 million euros). This growth was driven by the Public Sector segment. Here, sales increased by 8% to 48.8 million euros (Q1/2023: 45.3 million euros). The SINA business played a key role in this, which developed positively despite the tense budgetary situation in the public sector and the associated budget discussions.

Sales in the Business Sector segment totalled 8.8 million euros (Q1/2023: 9.9 million euros). As expected, lower sales were generated in the healthcare market. This is due to the market-wide switch to the Telematics Infrastructure 2.0 and the corresponding expiry of the previous connector business.

Sales in Germany increased to 50.8 million euros (Q1/2023: 49.8 million euros). Sales revenue totalling 6.8 million euros was generated in foreign markets. Compared to the same period of the previous year (5.4 million euros), this corresponds to an increase of 26%. The proportion of sales generated abroad increased to 12% (Q1/2023: 10%).

secunet Group's earnings before interest and taxes (EBIT) totalled -5.6 million euros in the first quarter of 2024, a slight improvement on the same period of the previous year (-6.2 million euros). The main reason for this was the lower cost of sales, which also resulted from a lower cost of materials ratio.