secunet Security Networks AG Reports Record Revenue for 2023
secunet Security Networks AG achieved a 13% year-on-year revenue increase, reaching a new record of 393.7 million euros in 2023. Earnings before interest and taxes (EBIT) saw a slight decrease.
Essen, Germany – secunet Security Networks AG, a leading German cybersecurity company, announced its audited financial results for 2023. The company reported a 13% increase in revenue compared to the previous year, reaching a new record of 393.7 million euros. This marks the tenth consecutive year secunet has achieved record revenues.
The Public Sector division was the primary driver of growth, with sales increasing by 15% to 344.8 million euros. Sales of the SINA product family and biometric border control systems performed particularly well. The Business Sector division also saw growth, with sales rising 4% to 48.9 million euros, boosted by the healthcare sector.
Earnings before interest and taxes (EBIT) for the secunet Group declined to 43.0 million euros from 47.0 million euros in the prior year. This reduction is attributed to a shift in product mix, with a higher proportion of merchandise and lower-margin products, alongside increased investments in the product portfolio and workforce expansion.
Consolidated net income for the group decreased to 29.0 million euros from 31.3 million euros in the previous year. Consequently, the company proposes a dividend of 2.36 euros per share, down from 2.86 euros in the prior year.
Looking ahead to 2024, secunet Security Networks AG forecasts revenue to remain stable at approximately 390 million euros. EBIT is expected to be around 42 million euros. The company cited uncertainty surrounding the German public sector budget situation as a key factor influencing its outlook.