Following its statement of January 6, 2010 related to the German payment cards, Gemalto (Euronext NL0000400653 - GTO), the world leader in digital security, confirms that it has provided a secure procedure to its customers in Germany to address the situation. The secure solution was timely verified and approved by the German banking authorities on January 7 as keeping the concerned EC cards and credit cards fully compliant with the German card banking system.
Olivier Piou, Gemalto CEO added: “This is a regrettable incident, and we are doing everything in our power to support our banking customers in resuming full normal operations. We worked with them hand-in-hand to create a strong secure software solution that enables our customers to resolve the problem of the concerned cards without reissuing these cards. All along we kept at heart to consistently maintain a high level of security for our customers and the German cardholders.”
Pursuant to IAS 37, Gemalto will book a special provision to cover the potential consequences related to this event. This exceptional charge, of an amount estimated in the range of 6 to 10 million euros, will be booked as part of 2009 results, modifying accordingly Gemalto’s expectation of around 180 million euros adjusted EBIT for the year by the same amount.
About Gemalto
Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2008 annual revenues of €1.68 billion, and 10,000 employees operating out of 75 offices, research and service centers in 40 countries.
Gemalto is at the heart of our evolving digital society. The freedom to communicate, travel, shop, bank, entertain, and work—anytime, anywhere—has become an integral part of what people want and expect, in ways that are convenient, enjoyable and secure.
Gemalto delivers on the growing demands of billions of people worldwide for mobile connectivity, identity and data protection, credit card safety, health and transportation services, e-government and national security. We do this by supplying to governments, wireless operators, banks and enterprises a wide range of secure personal devices, such as subscriber identification modules (SIM), Universal Integrated Circuit Card (UICC) in mobile phones, smart banking cards, smart card access badges, electronic passports, and USB tokens for online identity protection. To complete the solution we also provide software, systems and services to help our customers achieve their goals.
As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.
For more information please visit www.gemalto.com.
