Gemalto operating profit rises on identity segment gains

Gemalto operating profit rises on identity segment gains

Gemalto earnings increased by 3 percent on a constant currency basis for the full fiscal 2018 year, with double-digit revenue gains in the Identity, IoT & Cybersecurity segment, the company has announced.

CEO Philippe Vallée said the return to the company’s historical pattern of profit growth reflects its success at implementing its strategic priorities. Gemalto reports €2.969 billion in 2018 revenue, and operating profit of €332 million, up from €310 million in 2017. The company also noted its profit increased as a percentage of revenue increased from 10.4 percent to 11.2 percent.

“Moving forward, in the Identity, IoT and cybersecurity segment, we anticipate strong demand for border management and biometric solutions driven by the sharp increase in air traffic and evolving law enforcement needs,” says Vallée. “We also expect an acceleration in deployments of cloud-based cybersecurity solutions in line with stringent regulation and more high-profile breaches. We should also see a proliferation of power-sensitive IoT connectivity use cases across various industrial sectors. In the Smartcards & Issuance segment, demand for both payment cards and digital payment should increase in line with cashless trends.”

He also notes that increasing use of dematerialized connectivity will drive a shift from removable SIM technology to eSIMs.

With the company’s acquisition by Thales approaching completion, Gemalto says its strategic priorities are confirmed, and it plans to invest in the Identity, IoT & Cybersecurity segment.

Gemalto recently reached a deal to provide its biometric technology to Ugandan police, and Director of Biometrics Fred Martinez spoke to Biometric Update recently about the next steps in the development of biometric payment cards.

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