Secunet publishes preliminary annual financial statements for 2021 - revenue increased
Already yesterday, Friday, secunet Security Networks AG presented its preliminary financial figures for the financial year 2021. [Link 1]
Positive news at the outset: last year's sales revenue was provisionally calculated at 337.6 million euros. Compared to the previous year 2020, this is an increase of 18% (2020: 285.6 million euros). EBIT (before interest and taxes) also improved by 24% to 63.9 million euros.📊
Reasons for the slight outperformance of the company's own forecasts (estimated sales: 330 million euros and EBIT: 59 million euros) can be found in the well-performing business field around SINA (Secure Inter-Network Architecture) [Link 2] and the last pandemic-related effects (such as expansion of mobile working, etc.).
Despite the preliminary positive annual result for 2021, according to the published figures the fourth quarter was in part significantly worse than the comparable period in 2020. Even the third quarter was better in the past year 2021 than the fourth fiscal quarter last time.📉
Nevertheless, and especially in view of the preliminary business results, CEO Axel Deininger describes the past year as "the most successful financial year in the company's history. 💪
My opinion on the digital security company remains positive. Although the expected decline in sales was already noticeable in the fourth quarter, this effect was also to be expected and had already been priced in by the company in the past [Link 3] - here, however, only for 2022.
Nevertheless, in my view, the company still has a competitive advantage over its competitors, precisely because the majority of its business is concentrated on the German market for security-related business areas. 🧐
Most recently, the company was able to secure and certify approval for the expansion of the next stage of digital patient records. [Link 4] In the area of telematics infrastructure, secnunet security is one of the leading companies in German-speaking countries. In the telematics infrastructure [Link 5 - Wikipedia], all parties involved in the healthcare system (from doctors to pharmacies, hospitals to health insurance companies) are networked with each other; this is done with the help of a connector, which is also offered as a solution by the company.🧾
Taking into account this still further developing market and the ongoing efforts of the current federal government towards the digitalization of public authorities, the business environment promises to be solid and growth-generating in the years to come. For me, this is a clear sign that the company can and may grow healthily and with composure.
I can imagine that in the coming years the focus on intra-European security solutions without the influence of the Americans, Chinese or Russians will continue to gain in importance. Secunet's close cooperation with the BSI is one of the fundamental confirmations for me in this regard.✅
For me, Secunet should continue to be viewed positively, even if the share price recently (also on Friday) fell again. However, this is not only due to the slightly gloomy outlook for the current fiscal year, but also due to the ongoing sector rotation towards value stocks. After all, despite (minimal) dividend payments, secunet is still a solid and sustainable growth company.💎
Secunet is my single bet on IT security on a European level. For me, still a clear component of my savings plan executions.💸
Link collection:
[Link 2] https://www.bsi.bund.de/DE/Themen/Oeffentliche-Verwaltung/Zulassung/SINA/sina_node.html
[Link 5] https://de.wikipedia.org/wiki/Telematikinfrastruktur
(This text is based on my research and is solely my personal opinion and assessment. All statements are based on my naive small investor opinion. I am not asking anyone to buy any particular investment instrument and this is certainly not investment advice. You are responsible for burning your own money).
