Secunet Reports Record Revenue for 2024, Exceeding 400 Million Euros
Germany-based cybersecurity company secunet Security Networks AG has published its audited 2024 annual report, revealing revenues surpassing 400 million euros for the first time. The company forecasts continued growth for 2025.
secunet Security Networks AG, a German cybersecurity firm, announced its audited financial results for the 2024 fiscal year, marked by record-breaking sales revenue of 406.4 million euros. This figure represents the first time the company has exceeded the 400-million-euro threshold and surpassed its own initial sales forecast.
The company's earnings before interest and taxes (EBIT) stood at 42.5 million euros, slightly above projections but marginally below the previous year's 43.0 million euros. This was impacted by increased research and development expenses and an inventory adjustment effect. While the public sector contributed 369.7 million euros to revenue, the business sector (including healthcare and industry) generated 36.7 million euros, falling short of the prior year's performance due to economic challenges.
Secunet's business model, focused on government digitalization and cybersecurity, demonstrated resilience in a challenging political and economic climate. The company expanded its SINA and Cloud product portfolio and benefits from its position in the growing post-quantum cryptography market. International sales increased by 14% to 40.1 million euros, maintaining their share of approximately 10% of total revenue.
Following this performance, secunet proposes a dividend of 2.73 euros per share for the 2024 fiscal year. The outlook for 2025 anticipates continued sustainable and profitable growth, with strategic investments in promising areas such as post-quantum cryptography, SINA Cloud, and evolving government digitalization initiatives, including a shift towards "as-a-service" business models.