secunet reports strong Q2 leading to H1 revenue growth, confirms 2023 forecast

secunet Security Networks AG announced a 12% increase in revenue for the first half of 2023, reaching EUR 151.5 million. This growth was significantly boosted by a strong performance in the second quarter, which saw a 37% rise in revenue compared to the same period last year. The company's earnings before interest and taxes (EBIT) for the first half of the year stood at EUR 4.0 million.

The company's order backlog remained high at EUR 191.6 million as of June 30, 2023, marking a 20% increase from the previous year. This robust backlog provides a solid foundation for the remainder of the fiscal year. secunet's financial results for the first half of 2023 align with its previously issued projections.

For the full year 2023, secunet anticipates revenues of approximately EUR 375 million and an EBIT of around EUR 50 million. The company, a prominent cybersecurity provider in Germany, primarily serves the public sector. Historically, secunet experiences a stronger business performance in the second half of the year, often linked to public procurement cycles.

CEO Axel Deininger expressed satisfaction with the growth achieved and expects it to continue into the second half of the year. He highlighted the sustained high order backlog as a key factor ensuring ongoing business. Based on these developments, secunet reiterates its positive outlook and confirms its financial forecast for 2023.