Oberthur Technologies' 2009 Results: Sales Growth of 2.5% to 904.6MEUR for 2009

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Apr 15, 2010, 11:00 ET

PARIS, April 15, 2010 /PRNewswire-FirstCall/ --

- Strong Improvement in EBIT Which Grows by 23% to 86.7MEUR

- Capital Investment by SOFINA in the Holding Francois-Charles Oberthur Fiduciaire

    Oberthur Technologies - P&L Consolidated
    In MEUR                                                          Var.
                                          2008        2009      2009/2008
    Revenue                              882,7       904,6           +2,5%

    EBITDA                               117,5       132,6          +12,8%
    % EBITDA/ Sales                       13,3%       14,7%

    Current Operating Income              87,0        92,2           +5,9%
    % REC / CA                             9,9%       10,2%

    EBIT                                  70,7        86,7          +22,7%
    % EBIT/Sales                           8,0%        9,6%

    Net Result                            36,6        49,2          +34,3%
    % NR/Sales                             4,2%        5,4%

Oberthur Technologies, a world leader in secure technologies announced sales of 904.6 million Euros for 2009.

In a difficult macro-economic context, 2009 was a year in which Oberthur Technologies consolidated its activities. Sales progressed by 2.5% and profitability increased with a Current Operating Profit of 92.2 million Euros or 10,2% of sales.

"Beyond the work achieved by the teams to preserve our margins, we were able to see the benefits of the integration of the company XPonCard, acquired in May 2008, which has now been fully accomplished within the activities of Card Systems and positions us as number 2 worldwide in the card industry. In parallel, the significant development of our Identity activities allowed us to post positive results in this domain. The Fiduciary activity was again strong. This global performance is noteworthy and confirms the ability of our activities to resist to the effects of the business cycles," comments Thomas Savare, CEO of Oberthur Technologies.

    2009 Sales breakdown by activity

                                    2009      % CA

    Card Systems                   695,1      76,8%
    Fiduciary Printing             108,2      12,0%
    Identity                        85,0       9,4%
    Cash Protection                 16,4       1,8%
    Total                          904,6     100,0%


    2009 Sales breakdown by region

                                   2009

    Europe                        429,1
    RMEA                          188,5
    Americas                      166,9
    Asia                          120,1
    TOTAL                         904,6

Outlook

Despite reduced visibility, Oberthur Technologies counts on a return to growth in 2010, in particular a strong acceleration in the Identity activities.

The Group will continue to invest in the development of its means of production, including the opening of a new manufacturing site in Brazil and many Service Centers around the world.

The development of new services and solutions, in the domain of payment cards, mobile communications and identity will accelerate in 2010 with new means being implemented.

With the majority of its sites ISO 14001 certified and a range of environmentally friendly products, Oberthur Technologies confirms its engagement in the area of sustainable development.

SOFINA enters into the capital of FCOF

The holding company of Oberthur Technologies, Francois-Charles Oberthur Fiduciaire, strengthens its equity with the capital investment of an 8% stockholding by SOFINA. The Group thus secures a long-term financial partner capable of accompanying it in its growth projects.

Quoted on the Brussels stock exchange, SOFINA is a minority investor in both public and private companies and possesses a portfolio worth more than 3 billion Euros.

SOFINA will appoint two board members at Francois-Charles Oberthur Fiduciaire and Oberthur Technologies.

About Oberthur Technologies

With sales of 905 million Euros in 2009, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and excellence ensure Oberthur Technologies' strong positioning in its main target markets:

    - Card Systems: The world's second largest provider of security
      and identification based on smart card technology and associated
      services for mobile, payment, transport, digital TV and convergence
      markets.
    - Identity: Leading international supplier for the manufacture and
      personalization of secure identity documents such as passport, identity
      card, driving license or health care card - traditional and electronic
      - and associated services for both governmental and corporate markets.
    - Security printing: A key player in the secure printing industry
      specialized in the production of banknotes, checks and other security
      documents in more than fifty countries.
    - Cash protection: World leader in the emerging market of
      intelligent systems to secure cash-in-transit and ATM.

Close to its customers, Oberthur Technologies benefits from an industrial and commercial presence across all five continents.

Oberthur Technologies S.A. is a limited liability company (societe anonyme) registered in France with its registered office at 50 quai Michelet 92 532 Levallois Perret, France. Oberthur Technologies S.A.'s corporate registration number is 340 709 534 R.C.S. Nanterre.

Website: http://www.oberthur.com

SOURCE Oberthur Technologies