secunet First Quarter Report 2001

Transcription

1 secunet Contact Corporate address secunet Security Networks AG Im Teelbruch Essen Germany Phone +49 (0) Fax +49 (0) Internet First Quarter Report 2001 secunet

2 secunet Key figures First Quarter Report 2001 Jan. 1 Mar. 31, Jan. 1 Mar. 31, Sales ( 000) 6,477 2,639 EBIT ( 000) 1,612 1,568 Cash flow ( 000) 1, Investments ( 000) Earnings per share () Employees (as of March 31, 2001) Dynamic growth secunet has had a good start into the new year. Sales in the first quarter increased to 6.5 million, a growth of 145% compared to the first quarter of 2000 (Q1 2000: 2.6 million). In the first quarter of 2001, the operative result (EBIT earnings before interest and taxes) came in at minus 1.6 million. This figure is on the same level as the result from the corresponding period of last year (minus 1.6 million).taking into account interest income of 0.1 million and deferred taxes of 0.5 million, secunet reported a net loss of 1.0 million (Q1 2000: minus 0.8 million), corresponding to a loss per share of 0.15 (Q1 2000: minus 0.12). Financial calendar Sales in million EBIT in million May 29, 2001 Annual General Meeting Zeche Zollverein (Essen, Germany) August 9, 2001 Second quarter results 2001 November 15, 2001 Third quarter results Jan. 1 Mar Jan. 1 Mar

3 Intermediate goal reached Against the background of our successful course of business, we are confirming our goal for the entire year 2001 to achieve sales growth of at least 40% and an overall balanced result. current fiscal year is to take full advantage of the potential that has been created so far. With the support of a detailed management and control system, we are in a position to ensure the optimal utilisation of our employees in accordance with their qualifications, and thus to continue our profitable growth. Our activities have a solid financial foundation. With a balance sheet total of 26.2 million at the end of the quarter, our equity rate is 78%. As of March 31, 2001, our liquid assets amounted to 9.7 million. Employees Increasing employee profitability On March 31, 2001, there were 244 employees working for the company; this is an increase of 85, or 53%, compared to March 31 of the previous year (159 employees). What becomes clear, however, is that we already completed the necessary expansion of our employee base in the year 2000 (as of December 31, 2000: 240 employees). After having laid the foundation for further growth last year with a personnel increase of over 60%, our focus for the Mar secunet 3

4 Customer base widened considerably From January to March 2001, we were again able to gain numerous interesting new customers. We now advise more than 200 renowned customers from the areas of telecommunication, industry and financial services. In the first quarter of 2001, we added Dresdner Bank AG, Germany, and ING Groep B.V. from the Netherlands to our expanding customer base. With these leading companies, we have once again convinced large international corporations, which have the highest demands for information security, of our complete, high-quality information security solutions. In order to be able to offer our customers the best possible solutions, we further expanded our partner network in the first quarter of In detail, we signed cooperation agreements with Biodata Information Technology and with Utimaco Safeware. Cooperation with these two renowned manufacturers enables us to utilise considerable synergies in the creation of comprehensive security solutions for domestic and foreign customers. Together with Utimaco Safeware, we already won a major contract from the Netherlands in December of last year in the amount of 2.7 million. As of March 31, 2001, our order book had a value of 6.7 million. Good market perspectives in information security At CeBIT in Hannover from March 22-28, we noted considerable interest in all areas of information security. This applies especially to the reproduction of business processes through new communications media. The outstanding money-saving potential and the opportunities to open up new markets and fields of business over the Internet are recognised by everybody involved. Those responsible in the companies see unsolved security issues as the greatest obstacle in this field. Against this backdrop, the perspectives for information security remain good. Metagroup foresees market growth of 30 to 40% per year until the year Within this market for information security, it is becoming increasingly clear that large companies want comprehensive, international support and also require the guarantee that they are 4 secunet 5

5 receiving high-quality, state-of-the-art solutions. As a service provider that covers all aspects of IT security, secunet is extremely well-positioned here. Through the establishment of international bases including the USA we have a good foundation for assisting our customers, even across borders. Further expansion of our leading position secunet offers integrated solutions and adjusts these individually to the existing company infrastructure. Our comprehensive approach provides us with a considerable competitive advantage. This applies especially to the highly complex areas of virtual private networks (VPN), public key infrastructures (PKI) and security management. Particularly in the area of PKI regulated by the European Union s Digital Signature Directive, the German Digital Signature Act or the global banking standard Identrus, secunet was able to expand its leading position even further. Our outstanding positioning in a market that shows strong overall growth is reflected in our successful development during the first quarter of With the figures we achieved, we have established a solid basis for becoming the leading European IT security service provider. 6 secunet 7

6 Price performance of the secunet share (SIN ) for the period from January 1 to April 30, 2001 (Index: January 2, 2001 = 100) 120 secunet Security Networks AG 100 Nemax All Share Corporate bodies and shareholdings Supervisory Board Prof. Dr.-Ing. Werner Hlubek, Chairman (1,199 shares*) Dipl.-Informatiker Klaus März, Deputy Chairman Professor Dr.-Ing. Hartmut Griepentrog (1,375 shares*) Dr. rer. pol. Elmar Legge Dipl.-Kfm. Manfred W. Saake Dr. rer. pol. Gerd Wiedemann (1,500 shares*) 40 Jan. 31 Feb. 28 Mar. 31 Apr. 30 Board of Management Dr. Rainer H. F. Baumgart, Spokesman (16,000 shares*) Dr. Michael Gehrke, Sales, Marketing (16,000 shares*) Thomas Pleines, Finance, Controlling, Personnel (16,000 shares*) *) Number of shares owned as of March 31, secunet 9

7 Consolidated balance sheet of secunet Security Networks as of March 31, 2001 (IAS) Assets Mar 31, 2001 Mar 31, 2000 Fixed assets Intangible assets Goodwill 706, Badwill 67, Concessions, trademarks, and similar proprietary rights and titles as well as licences to such rights and titles 244, , , , Tangible assets Other equipment, operating and office equipment 1,898, ,294, ,898, ,294, Financial assets Loans to affiliated companies 1, Shareholdings 38, Other loans 27, , AHV guarantee fund , , , Total fixed assets 2,850, ,452, Current assets Inventory Goods , Advance payments made , , Advance payments received , , Receivables and other assets Trade and service receivables* 7,414, ,201, Receivables from affiliated companies* 240, ,127, Other assets* 194, , Cash in hand, bank balances 9,714, ,550, Total current assets 17,564, ,011, Prepaid expenses 93, , Deferred taxes 5,656, ,203, Total assets 26,164, ,750, Equity and liabilities Equity Subscribed capital 6,500, ,500, Capital reserve 21,922, ,922, Loss carried forward 7,160, ,751, Group share of quarterly result 918, , ,342, ,874, Minority interests Capital and reserves 245, Profits/losses 61, , Provisions Provisions for pensions and similar obligations 373, , Other provisions 1,233, , ,607, ,114, Liabilities Liabilities to banks* 18, Trade and service payables* 1,260, , Liabilities to affiliated companies* 55, , Other liabilities* 2,518, , ,852, ,750, Deferred income 178, , Total equity and liabilities 26,164, ,750, * Residual term of less than one year 11

8 Consolidated profit and loss account of secunet Security Networks for the period from January 1 to March 31, 2001 (IAS) Jan. 1 Mar. 31, 2001 Jan. 1 Mar. 31, 2000 Sales 6,477, ,638, Other operating income 21, , Cost of raw materials, supplies and purchased goods 925, Cost of purchased services 451, , Cost of materials 1,376, , Own work 5,122, ,197, Wages and salaries 3,400, ,111, Social security contributions, allocation to pension reserve and other benefit costs 638, , Personnel expenses 4,039, ,500, Depreciation on tangible and intangible assets 316, , Other operating expenses 2,378, ,058, Other interest and similar income 108, , Interest and similar expenses 1, Interest result 107, , Result from ordinary activities 1,504, ,425, Deferred taxes 541, , Other taxes Quarterly result 962, , Minority interests 43, Group share of quarterly result 918, , Earnings per share for the quarter EBDIT 1,294, ,361, EBIT 1,611, ,568, EBT 1,504, ,425, Consolidated cash flow statement of secunet Security Networks for the period from January 1 to March 31, 2001 (IAS) Jan. 1 Mar. 31, 2001 Jan. 1 Mar. 31, 2000 Current operating activities Group share of quarterly result 918, , Loss attributable to unaffiliated shareholders 43, Depreciation on intangible and tangible assets 316, , Increase (- decrease) in provisions and deferred taxes 1,474, ,115, Other business transactions not involving the movement of cash 30, Decrease (-increase) in net current assets 1,358, , Decrease in funds from current operations 731, ,019, Investing activities and acquisitions Payments made for investments in fixed assets 445, , Net cash used by investing activities 445, , Financing activities Contributions to capital reserve ,820, Contributions to subscribed capital , Net Increase (- decrease) in short-term borrowings , Increase of funds from financing activities ,925, Change in cash and cash equivalents 1,176, , Cash and cash equivalents at beginning of the reporting period 10,891, ,844, Cash and cash equivalents at the end of the reporting period 9,714, ,550, secunet 13