Connect to share and comment

Smart card maker Gemalto reports record 2012 sales

PlacardEnlarge
(Globalpost/GlobalPost)

The world's leading manufacturer of smart cards, Gemalto, posted on Thursday a 25-percent jump in 2012 net profit on record sales, and forecast double-digit growth for this year built on growth in the international mobile telephone and security markets.

Gemalto's net profit climbed to 201 million euros ($260 million) on sales that rose 9.0 percent to a new record of 2.25 billion euros as demand grew for plastic cards equipped with embedded computer chips.

The group's core operating profit increased 26 percent to 305 million euros, a statement added.

Chief executive Olivier Piou said the company had reached its objectives faster than expected, noting that "over the past three years we grew our revenue and profit by close to 40 percent and 80 percent respectively, and kept a strong net cash position".

Looking ahead, Gemalto said long-term contracts secured in the mobile payment and government sectors "will bolster our profitable expansion into the future".

For 2013, "Gemalto anticipates double digit revenue expansion at constant exchange rates," it said, adding that its long-term development plan will be announced in the second half of the year.

at-wai/txw

http://www.globalpost.com/dispatch/news/afp/130314/smart-card-maker-gemalto-reports-record-2012-sales