Utimaco Safeware – Financial Year 2002/2003
Oberursel, September 30, 2003 – In the financial year 2002/2003, Utimaco Safeware achieved revenues amounting to Euro 25.8 Mio (previous year Euro 30.6 million). The fall in the company’s revenues refers to the given up divisions during restructuring and to focussing on high-return revenue earners. With an operating result of Euro 0.14 million (previous year Euro -14.2 million) the break-even point was achieved according to plan.
The product business of the Personal Devices Security division contributed Euro 20.8 million to the total revenues. Despite the fall in revenue, the result for this division – before the allocation of administration costs and elimination accountings – considerably increased from Euro 1.4 million in the previous year to Euro 4.2 million in 2002/2003.
The project business of the Transaction Security division achieved external revenues equalling the previous year’s. The result for this division – before the allocation of administration costs and elimination accountings – increased from Euro -2.7 million in the previous year to Euro -6,000 in 2002/2003, almost reaching the break-even point.
Liquid assets at June 30, 2003, amounted to Euro 2.3 million (June 30, 2002: Euro 1.9 million). After the successful realization of a financing package during the first quarter of the financial year 2002/2003 the company got considerable financial resources, providing a solid basis for the financing of the current and future business.
Utimaco Safeware AG is one of the leading manufacturers of professional IT security solutions. The security technology and solutions developed by Utimaco Safeware protect the electronic data of companies and government bodies against unauthorized access and guarantee that business processes and administrative procedures in the electronic world are binding and confidential.