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Gemalto announces full year 2009 results

05 March 2010 , Written by Dhruv Tanwar
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Digital security company Gemalto has reported full year revenue of €1654 million and an improvement in its operating margin after all segements reported profits. It reported adjusted operating income of €182 million before special provision of € 11 million, €381 million net cash position, with operating activities generating a record €200 million. It also plans to propose a dividend of €0.25 per share to shareholders at next AGM.

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Gemalto prepares its consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS). Figures reported were at historical exchange rates, except for revenue and average selling price variations that were reported at constant exchange rates.

Revenues for 2009 were reported at €1654 million, 2% lower than 2008 revenues of €1680 million. Gross profitability was €600 million, marginally above 2008 gross profit of €597 million. Operating expenses were €434 million compared to 2008 operating expenses of €429 million. Gemalto reported a net profit for 2009 of €148 million against €153 million posted in 2008.

Olivier Piou, Gemalto's CEO said that during the very adverse 2009 economic environment, the company improved its profitability because of its focus on value creation for customers and operational efficiency that translated into meaningful gross margin improvements. He said that Gemalto would propose at the upcoming shareholders’ meeting “the first dividend distribution in our history.”

In its outlook for 2010, Gemalto was optimistic about the strong fundamentals and prospects for its business. The company said it would focus on growth in 2010, and wojuld actively promote its expanded product portfolio while delivering more software and services to customers. It has set an objective of €300 million profit from operations in 2013.
 

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