Secunet Security Networks AG Publishes Half-Year Financial Report 2024 and Confirms Forecast

secunet Security Networks AG, Germany's leading cybersecurity company, has published its Half-Year Financial Report for 2024. Revenues and earnings have slightly decreased compared to the previous year. However, incoming orders and the order backlog have significantly increased, leading the company to confirm its annual forecast.

During the first half of 2024, secunet Group reported revenues of 144.3 million euros, down from 151.5 million euros the previous year. Earnings before interest and taxes (EBIT) were 1.4 million euros, compared to 4.0 million euros last year. The net profit for the period was 1.0 million euros, down from 2.4 million euros in 2023.

Despite the lower revenues, incoming orders rose by 15% to 169.6 million euros, and the order book increased by 13% to 216.5 million euros. This growth is attributed to a typical seasonal sales pattern, with higher sales expected in the latter half of the year.

The company anticipates revenues of around 390 million euros and EBIT of 42 million euros for 2024. The fourth quarter is expected to drive a significant portion of annual sales and earnings due to increased contracts from public sector customers.