Gemalto Q1 sales: +17%
Gemalto also provides figures according to a geographical split:
Olivier Piou, the company CEO said “Gemalto recorded another quarter of solid revenue expansion, in line with its expectations. Secure Transactions continued to outperform, as chip-and-PIN and high-end contactless payment solutions deploy worldwide. Near Field Communication mobile payment generates considerable interest and our current investments have already led to key service contract wins”. Gemalto confirms its target of EUR 300 million in profit from operations in 2013.
Product revenue was lower by 6% year-on-year at constant exchange rates. This reflects the anticipated more marked seasonal pattern of sales in 2011. Revenue from software and services grew by 12% at constant exchange rates.
M2M (machine to machine)
The activity includes Cinterion, which was acquired in July 2010 (cf. Smart Insights Weekly #10-27). The segment posted an EUR 43 million revenue driven by the continuing growth of this activity in multiple industrial sectors.
The Secure Transactions business delivered a record growth of +23% year-on-year at constant rates. Sales of microprocessor payment cards, led by worldwide EMV migration and dual interface contactless card deployments, are supporting this momentum.
Revenue expansion was driven by double-digit growth in Identity and Access Management (IAM), led by deployment of strong authentication solutions for online banking services.
As anticipated, no significant revenue from the patent licensing activities was recorded by Gemalto this quarter.