Gemalto full year 2015 results
Full year revenue of €3.1 billion, up +16%, and profit from operations up +10%, at €423 millionRevenue in Payment & Identity at €1.8 billion, represents 58% of the total sales Platforms & Services revenue reaches €898 million, up +70%Free cash flow generation accelerated over the year, with €233 million in the second semester
Amsterdam, March 4, 2016 - Gemalto (Euronext NL0000400653 - GTO), the world leader in digital security today announces its results for the full year 2015.
|To better assess past and future performance, the income statement is presented on an adjusted basis and variations in revenue figures above and in this document are at constant exchange rates except where otherwise noted (see page 2 "Basis of preparation of financial information"). Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with the consolidated financial statements. Reconciliation with the IFRS income statement is presented in Appendix 1. The statement of financial position is prepared in accordance with IFRS, and the cash position variation schedule is derived from the IFRS cash flow statement. All figures in this press release are unaudited.|
Key figures of the adjusted income statement
Olivier Piou, Chief Executive Officer, commented: "2015 illustrates the structural transformation and successful diversification of the Company. Payment is now clearly the largest business of the Company; the Enterprise portfolio is aligned following SafeNet integration; Government Programs is back to rapid growth with a solid win rate; adjustments are supporting the SIM activity evolution; and the Machine-to-Machine business continues to expand rapidly. In a challenging 2015 Mobile environment, Gemalto demonstrated the resilience of its business model with another double digit expansion in profit from operations and strong cash generation. Entering the second part of our multi-year development plan we will focus in 2016 on expanding our gross margin, progressively optimizing our main segments` performance en route to our 2017 objectives."
| || || ||Year-on-year variations|
|(€ in millions)||Full year 2015||Full year 2014||at historical exchange rates||at constant exchange rates|
|Gross profit||1,216||952||+28%|| |
|Operating expenses||(793)||(569)||+39%|| |
|Profit from operations||423||383||+10%|| |
|Profit margin||13.5%||15.5%|| || |