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Giesecke+Devrient sets new highs and generates revenues of three billion euros for the first time

11/04/2024 Munich Giesecke+Devrient

Giesecke+Devrient (G+D) achieved the strongest growth in its history in fiscal year 2023, setting new records for sales, sales growth and earnings. The G+D Group is now entering a new phase in the company's development, and is helping to shape the digital transformation of our society as a leading global SecurityTech company.

2023 was a year of growth for the G+D Group with the company generating revenue of three billion euros. G+D thus surpassed its previous record from 2022 by 18%. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 17% to 347 million euros, the highest figure in the company's history. Annual net income increased by 14% to 92 million euros - significantly higher than the previous year's strong figure. 

G+D's high volume of incoming orders points to continued future success. With a volume of 3.2 billion euros, it is higher than ever before and significantly exceeds the level of sales. Despite the challenging global situation, as part of its corporate strategy, G+D is consistently investing in the expansion of its portfolio and the Group’s development. In 2023, G+D invested an unprecedented 490 million euros - an increase of 44% compared to the previous year. Approximately half of this was invested in research and development and the company's own technology, while the other half was used for fixed assets as well as mergers and acquisition projects to further expand the customer offering.

Strong performance across all businesses

The Group's future-proof portfolio proved to be a strong driver of business success. In its three segments Digital Security, Financial Platforms and Currency Technology, G+D offers innovative physical and digital solutions tailored to customer and market needs, making the lives of billions of people more secure. With sales of around one billion euros each, all three pillars contributed equally to the best financial result in the company's history.

Integrated security technology, with which G+D strengthens the trust of citizens and consumers in the digital age, is the common denominator across all segments. In Digital Security, G+D protects and manages confidential systems, networks, data and identities. This includes secure connectivity, secure and efficient identity management and high-quality cybersecurity solutions. In Financial Platforms, G+D offers solutions for payments and banking. G+D has an innovative portfolio for payment cards and digital payments as well as trusted software for the financial industry. And as a global market leader in Currency Technology, G+D offers secure solutions for public currencies in physical and digital ecosystems. G+D has a unique portfolio for the entire cash cycle as well as solutions for the development and operation of central bank digital currencies.

G+D achieved important sustainability milestones in 2023. For example, the Group reduced its emissions by more than 60% despite strong sales growth. Since the end of 2023, G+D has also been using almost 100% green electricity at all locations. The company's green transformation is also reflected in its product portfolio. G+D supports its customers' sustainability agendas with a wide range of green products and environmentally friendly production processes.

Confident outlook for 2024

In 2023, G+D entered a new phase in the company's development and with its three strong segments, the SecurityTech company is well positioned for the future. The company is therefore confident about the fiscal year 2024 and expects a further increase in sales.

As previously announced, G+D will see a change in the management team around Group CEO Ralf Wintergerst in 2024. Jan Thyen, most recently Head of Strategy at G+D, will become the new Group Chief Financial Officer (CFO), succeeding Peter Zattler, who is retiring. In addition, Gabriel von Mitschke-Collande, a sixth generation member of the owner family, will assume the newly created position of Group Chief Digital Officer (CDO). He comes from BayWa AG, where he was also CDO.

"We have achieved the most successful fiscal year in the company's history and are now entering a new phase in the company's development," said Ralf Wintergerst, Chairman of the Management Board and Group CEO of Giesecke+Devrient. "This gives us a strong basis for further strategic development as a SecurityTech company and for making the lives of billions of people more secure with our products and solutions."

Further information and the digital version of the Annual Report 2023 is available at: Annual Results 2023.

About Giesecke+Devrient

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology.

G+D was founded in 1852 and today has a workforce of more than 14,000 employees. In the fiscal year 2023, the company generated a turnover of 3 billion euros. G+D is represented by 123 subsidiaries and joint ventures in 40 countries.

Further information: www.gi-de.com.

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Christoph Lang

Head of Corporate Brand Communications and Government Relations Spokesman

Phone: +49 89 4119-2164
E-Mail: christoph.lang@gi-de.com