Xiring, a security solutions provider for remote transactions, today announces a turnover of 11.8 million euros and an operating income of 1.96 million euros (16.6% of the turnover) for the first half of the 2009 financial year, up 18.8%.
The turnover for the first half of the year was 11.8 million euros as of 30 June 2009, compared with 12.9 million euros for the same period in 2008 (-8.5%). The Healthcare activity share was of 7.1 million euros and represented 60% of the turnover for the period (compared with 5.7 million euros for HY1 2008, i.e., 44% of the turnover). The Banking activity contributed 4.3 million euros and represented 36% of the turnover for the first half of the year (compared with 6.0 million euros for HY1 2008, i.e., 46% of the turnover).
A significant increase in profitability in the first half of the year
XIRING posted an operating income of 1.96 million, i.e., 16.6% of the turnover, up 18.8%. Thanks to a more favorable products mix related to the preponderance of the Healthcare activity, this performance also reflects a reliable cost management.
Net income was of 1.98 million euros, i.e., 16.7% of the turnover, up 27.7% (compared with 1.55 million euros for HY1 2008).
XIRING has a solid financial base, thanks to the lack of financial debt and 19.5 million euros in equity. The cash position was of 7.1 million euros as of 30 June 2009.
Objectives for 2009
XIRING confirms its objective of a 2009 turnover of 27 million euros (released 15 July 2009).
For the 2009 financial year as a whole, XIRING today increases its annual objective for operating income: in excess of 14% (vs. in excess of 7%, as announced on 20 January 2009).
The turnover for the 3rd quarter of 2009 shall be released 13 October 2009