Annual results 2020: Giesecke+Devrient emerges strong after pandemic year
In a challenging 2020, the international technology group Giesecke+Devrient (G+D) achieved sales of EUR 2.3 billion, almost on a par with the previous year. Through effective cost management and increasing margins in its business, G+D was able to boost its operating result by 13 percent to EUR 153 million. A 6 percent growth in incoming orders to a total of EUR 2.4 billion demonstrates the growing demand for G+D's safety-related products and solutions.
G+D, like many other companies, faced considerable challenges in the past financial year due to the Covid-19 pandemic. Through effective crisis management with a focus on the health of employees and continuity in business processes, G+D mastered the effects of the pandemic well. The company has also continued to advance key strategic initiatives in its business portfolio around security in the core areas of payment, connectivity, identities and digital infrastructures.
Among other things, G+D invests in the innovation of a digital currency for central banks, thus addressing a topic crucial to the future of payment transactions at an early stage. Around 80 percent of the world's central banks are working on the introduction of a digital currency or Central Bank Digital Currency (CBDC). G+D is already carrying out the first pilot projects in this area with central banks.
In a challenging economic environment, G+D succeeded in keeping the effects of Covid-19 low. As a result, group revenue in the 2020 financial year reached EUR 2.31 billion, only 5% below the previous year's level. The continuing travel restrictions had a particular impact - especially with regard to the handling of major projects and the service business.
Giesecke+Devrient (G+D) is a global security technology group headquartered in Munich. As partner to organisations with highest demands, G+D engineers trust and secures essential values with its solutions. The company's innovative technology protects physical and digital payments, the connectivity of people and machines, the identity of people and objects, as well as digital infrastructures and confidential data.
G+D was founded in 1852. In the fiscal year 2020, the company generated a turnover of 2.31 billion euros with around 11,500 employees. G+D is represented by 74 subsidiaries and joint ventures in 32 countries. Further information: www.gi-de.com.
Christoph Lang, Press Officer
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