2016 Annual Report – All Business Sectors Record Positive Earnings

2016 was a good year for Giesecke+Devrient (G+D). The group of companies has further strengthened its position in many important markets, and all business sectors have achieved positive earnings. Overall, G+D slightly exceeded its planned figures, achieving EUR 2.1 billion in Group sales and an EBIT of EUR 125 million.

This is the highest figure for sales in the company’s 160-year history, and is almost 4% higher year-on-year. All four business sectors – Banknote, Mobile Security, Veridos, and secunet – made a positive contribution to the Group earnings before interest and taxes (EBIT). Overall, the adjusted EBIT improved by around 23%, while the EBIT margin increased by 0.9 percentage points to 6%.
The net income was at the same level as the prior-year figure at a clearly positive EUR 52.5 million, despite the increased tax expense as a result of restructuring.
As a result of this conversion, the Group will be divided into four business sectors from Q3 2017. The Banknote and Mobile Security business units will be given new names in this process. Banknote will now be referred to as “G+D Currency Technology GmbH”, while Mobile Security will now operate as “G+D Mobile Security GmbH”. The other business sectors are Veridos GmbH – in which G+D holds a majority stake of 60% – and the listed company secunet Security Networks AG, in which G+D is the majority shareholder and holds a stake of around 79%.

G+D’s Development at a Glance

  • A new corporate structure with four independent subgroups will be in place from Q3.

  • G+D has founded the “G+D advance52” incubator in order to further refine its digital business.

  • It is planned that cybersecurity business will be significantly expanded.

  • G+D forecasts stable sales and earning.

The Course of 2016 in the Individual Business sectors


The Banknote business sector once again contributed the largest proportion to Group sales, with around EUR 928 million. There were particular increases in sales of security solutions and automated solutions for the cash cycle, as well as in plant engineering. And the outlook is good: the business unit finished the fiscal year with the highest order backlog in its history.

Mobile Security

The Mobile Security business sector achieved sales of around EUR 863 million. Proceeds increased in India, China, and Indonesia in particular, while the SIM insertion business in Asia remained below the level of the prior year. Switching to payment cards with chips, in the USA, also yielded less business than in the previous year. However, sales in local public transport as well as deliveries to public clients were significantly increased.


Sales from Veridos GmbH rose by 33%, with the ID card business making up a significant proportion of this. The joint venture between G+D and Bundesdruckerei contributed around EUR 183 million to G+D’s total revenue.


The listed company secunet Security Networks AG benefited from significant demand for high-quality products and services for IT security. It achieved record results in 2016, and increased its sales to around EUR 115 million, corresponding to a rise of 28%.

Incubator for Digital Inspiration

The “G+D advance52” incubator, which G+D initiated in May 2017, is intended as a driving force for the entire company. The 52 in the name relates to 1852, the year G+D was founded.
This legally independent subsidiary is to support the business sectors in further refining digital business along the core subjects of payment, identities, and connectivity. In close collaboration with customers, G+D advance52 will develop new digital products to market readiness, and then hand them over to the subsidiaries for marketing.
G+D provides a confident outlook for the 2017 fiscal year: sales and operating income are expected to be at the same level as they were in 2016, and once again all business units are expected to contribute positively to earnings.
The G+D Mobile Security business sector sees new opportunities for growth in the solutions business, and enjoys a strong position in this sector. The Cybersecurity unit in particular offers potential to open up new markets and add solutions to the portfolio for the protection of networked machines and cars.
The G+D Currency Technology business sector (previously referred to as Banknote) expects consistently high sales, at the same level as the previous year. Veridos and secunet anticipate solid sales growth.


Annual Report 2016

Find out all key information about fiscal year 2016 at Giesecke+Devrient.


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