Secunet reports increased revenue and EBIT for nine-month period
Cybersecurity firm secunet Security Networks AG announced that both revenue and earnings before interest and taxes (EBIT) increased during the first nine months of the fiscal year. The company also saw a positive development in its order backlog.
Germany-based cybersecurity company secunet Security Networks AG reported growth in both revenue and earnings for the first nine months of its fiscal year. Revenue rose by 7% to €254.8 million, while earnings before interest and taxes (EBIT) saw an 82% increase to €17.6 million.
The growth was primarily driven by a positive business dynamic in the public sector segment. Specifically, the third quarter saw revenue climb 26% year-over-year to €110.5 million. EBIT for the third quarter nearly tripled compared to the previous year, reaching €16.1 million. The company cited the revenue increase alongside a lower material cost ratio as contributors to the improved earnings.
Secunet also experienced a significant increase in its order intake, which grew by 22% to €294.3 million during the nine-month period. This resulted in an order backlog of €229.7 million as of September 30, 2024, a 16% increase from the previous year's figure.
The company anticipates a strong fourth quarter, traditionally its busiest period. Secunet has slightly raised its full-year revenue forecast to slightly over €400 million, up from a previous expectation of around €390 million. The EBIT forecast remains unchanged at approximately €42 million.