AMSTERDAM, Apr 28, 2017 - ( JCN Newswire ) - Gemalto (Euronext NL0000400653 - GTO), the world leader in digital security, today announces its revenue for the first quarter of 2017.
- Revenue at EUR 651 million, lower by (6%) at historical exchange rates and (8%) at constant exchange rates
- Slow start for Enterprise, Machine-to-Machine and Government Programs with acceleration expected in the second semester
- In response to recent market developments, the Company has launched a transition plan expected to contribute over EUR 50 million to profit from operations annually
- Update of 2017 outlook after the previously announced action plan review
Philippe Vallee, Chief Executive Officer, commented: "The first quarter revenue reflects the significant volatility in our Payment business in line with the unique pattern of EMV migration in the world's largest EMV market, the United States. In addition, the removable SIM business continues to decline while the ecosystem prepares for the next generation of devices. Consequently, Gemalto has launched a transition plan aimed at adjusting its Payment operations and Mobile business to reduced demand. For Enterprise, Government Programs and Machine-to-Machine businesses, Gemalto expects an acceleration in the second part of the year supported by solid backlogs and continues to invest in these businesses in line with their long term trends. The acquisition of the 3M Identity Management Business is on-track with all approvals received."
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Gemalto (Euronext NL0000400653 GTO) is the global leader in digital security, with 2016 annual revenues of EUR 3.1 billion and customers in over 180 countries. We bring trust to an increasingly connected world.
Our technologies and services enable businesses and governments to authenticate identities and protect data so they stay safe and enable services in personal devices, connected objects, the cloud and in between.
Gemalto's solutions are at the heart of modern life, from payment to enterprise security and the internet of things. We authenticate people, transactions and objects, encrypt data and create value for software - enabling our clients to deliver secure digital services for billions of individuals and things.
Our 15,000+ employees operate out of 112 offices, 43 personalization and data centers, and 30 research and software development centers located in 48 countries.
For more information visit www.gemalto.com, or follow @gemalto on Twitter.
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