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March 07, 2012 06:05 PM Eastern Time
- Revenue from Ongoing operations at €2 billion, up by 9% at constant rate
- Profit from Ongoing operations at €239 million, increases by 15%
- New products and services drive strong profit expansion in Mobile Communication
- Secure Transactions and Security outperform their profit margin objectives
AMSTERDAM--()--Regulatory News:
“Profit (loss) from discontinued operation (net of income tax)”
The income statement is presented on an adjusted basis (see page 2 “Basis of preparation of financial information”). These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with IFRS. The reconciliation with the IFRS income statement is presented in Appendix 2. The balance sheet is prepared in accordance with IFRS, and the cash position variation schedule is derived from the IFRS cash flow statement.
Gemalto (Euronext NL0000400653 - GTO), the world leader in digital security today announces its results for the full year 2011.
Key figures of the adjusted income statement
| Year-on-year variations | ||||||||
| €in millions | Full year 2011 | Full year 2010 | at historical exchange rates | at constant exchange rates | ||||
| Ongoing operations | ||||||||
| Revenue | 2000 | 1862 | +7% | +9% | ||||
| Gross profit | 747 | 676 | +11% | |||||
| Operating expenses | (509) | (468) | +10% | |||||
| Profit from operations | 239 | 207 | +15% | |||||
| Profit margin | 11.9% | 11.1% | +0.8 ppt | |||||
| Other operations | ||||||||
| Revenue | 15 | 44 | ||||||
| Profit from operations | 17 | 8 | ||||||
| All operations | ||||||||
| Total revenue | 2015 | 1906 | +6% | +8% | ||||
| Total profit from operations | 256 | 216 | +19% | |||||
Olivier Piou, Chief Executive Officer, commented: “In 2011, halfway through our strategic plan, we clearly outperformed our objectives. Secure Transactions and Security have become double-digit profit margin businesses, with strong growth and scale effects. Mobile Communication is back to revenue and profit expansion, benefitting from our investments in software and services. Consequently, the combined profit from operations of our four main segments1 grew by 28% in 2011. These results provide a strong base for the second part of our plan. We will continue along our strategy of transformation and expansion in the growing market of digital security, and have confidence in reaching our €300 million profit from operations target in 2013.”
1 The four main segments are the Mobile Communication, Machine-to-Machine, Secure Transactions, and Security business segments. They represented almost all the Company revenue in 2011 and in 2010.
Basis of preparation of financial information
In this press release, the information for the full year of both 2011 and 2010 is presented for Ongoing operations and under the 2011 format of segment reporting, unless otherwise specified. (continue reading)
