Oberthur posts FY results as holding firm secures investment

Oberthur posts FY results as holding firm secures investment

Oberthur Technologies has posted full year revenues of EUR904.6 million, up 2.5% on 2008, and revealed that its holding company has received capital investment from Brussels-based Sofina.

The French firm's Ebitda was EUR132.6 million, up 12.8% on 2008 while net result was EUR49.2 million, up by more than a third on the EUR36.6 million recorded for 2008.

The vast majority of sales (76.8%) came from the card systems unit - which has now fully integrated XPonCard, acquired in 2008 - with fiduciary printing accounting for 12%, identity 9.4% and cash protection 1.8%.

The company says it "counts on a return to growth in 2010" and has particularly high hopes for the identity business. A new manufacturing site in Brazil is also set to open.

Thomas Savare, CEO, Oberthur Technologies, says: "Beyond the work achieved by the teams to preserve our margins, we were able to see the benefits of the integration of the company XPonCard, acquired in May 2008, which has now been fully accomplished within the activities of Card Systems and positions us as number 2 worldwide in the card industry."

Meanwhile, holding company Francois-Charles Oberthur Fiduciaire has strengthened its equity with the capital investment of an eight per cent stockholding by Sofina. The investment firm will appoint two board members at Oberthur Technologies and its parent.

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