Gemalto publishes Q3 2013 results, anticipates continued increase in revenue, profit
Gemalto has released its financial results for the third quarter 2013, showing an average increase of 10% in revenue across all of its operations.
In particular, its mobile sector grew by 9 percent, with an identical increase in both mobile communication and machine-to-machine segments. Its payment and identity sector, which includes its biometric endeavors grew by 13 percent.
According to the company, its total revenue expansion was 10 percent, showing revenue of US$819.32 million (€596 million). It’s payment and services operations represented more than half of the company’s total revenue growth, and digital payment deployments have also had a significant impact on the company’s takings.
“Gemalto’s diversified businesses and geographic footprint led to another quarter of strong revenue growth,” Olivier Piou, CEO of Gemalto said. “A key component of our new multi-year plan is the development of our Platforms & Services activity, and its performance, expanding nearly 30 percent since the beginning of the year, evidences the trust our customers place in us. Our Embedded software & Products activity also develops rapidly, as expected, with +8% in year-to-date revenue growth. With this progress and despite the adverse currency environment we are on track to deliver on our outlook for 2013, which remains unchanged.”
According to the company’s financial report, Gemalto has anticipated double-digit expansion in both profit from operations and revenue at constant exchange rates for all of 2013.
Reported previously, Gemalto has had some significant deployments as of late. In particular, the company is set to supply Belgium with an ePassport solution, which is slated to be introduced to citizens in 2014.
In addition, the company still has a few irons in the fire for the rest of the year. The Nepalese government, which is working to introduce a biometric national ID card has short-listed Gemalto and Morpho for the project and has asked the two companies to submit financial proposals for a final decision on its procurement plan.
Also, a recently-published research report has found that the global market for ePassports is set to grow at a CAGR of 32.5% over the period of 2012-2016 and that Gemalto, Morpho, Giesecke and Devrient and Oberthur Technologies are currently dominating the space.