Secunet Security Networks AG Reports Record Revenue in 2023 and Provides 2024 Forecast

secunet Security Networks AG, a leader in Germany's cybersecurity industry, announced its audited financial results for 2023 and offered a forecast for 2024. The company witnessed a 13% year-over-year growth, setting a new revenue record of 393.7 million euros. This achievement marks the tenth consecutive year of record revenues, mainly attributed to growth in the Public Sector division, particularly in the product business with the SINA family and biometric border control systems.

The company saw significant growth both in the German market and internationally, with a 13% increase in revenue in Germany and a 14% increase in international business. Despite this growth, the earnings before interest and taxes (EBIT) saw a decrease to 43.0 million euros, down from the previous year’s 47.0 million euros, due to a change in product mix and increased expenses in product portfolio investments and personnel expansion.

The announcement also included a dividend proposal of 2.36 euros per share and highlighted a positive cash flow development. Looking ahead, secunet Group anticipates the financial year 2024 to maintain similar sales and EBIT levels to 2023, projecting sales around 390 million euros and EBIT at approximately 42 million euros, amidst stable demand for cybersecurity solutions and uncertain budget situations in the German public sector.