German vendor Giesecke & Devrient said it was “back on the road to success in fiscal 2015”, as sales grew by 10 per cent to just over €2 billion.
All three of its business units reported growth, including mobile security which saw revenue lift by 11 per cent to €863 million. Group net income was €54.5 million, compared to a loss of €73 million in 2014.
The company has had a number of redundancy rounds in the last three years, as it sought a turnaround. It also parted company with its CEO. Current CEO and chairman is Walter Schlebusch, who was appointed in June 2013. The company employs 11,400 staff, a slight fall of less than one per cent from 2014.
The firm had a rosy forecast for 2016: “Incoming orders are a good 10 per cent above revenue levels and have increased in comparison to the previous year.”
Interestingly, somewhat buried within the outlook are plans to change the company into a holding company with legally independent operating business units. The aim is to improve efficiency, market access, speed and opportunity to utilise growth opportunities.