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Gemalto Reports First Quarter 2012 Revenue

Gemalto Reports First Quarter 2012 Revenue

The Machine-to-Machine segment posted revenue of €43.8 million, stable on last year’s first quarter.

Revenue figures in this document are for ongoing operations and variations are at constant exchange rates except where otherwise noted. Revenue figures including contribution of assets held for sale and variations at historical rates are provided in the appendix of this document. All figures presented in this press release are unaudited.

Gemalto (Euronext NL0000400653 – GTO), the world leader in digital security today announced its revenue for the first quarter of 2012.

Ongoing operations
(€ in millions)
Mobile
Communication
Machine-to-
Machine
Secure
Transactions
Revenue 235 44 129
Year-on-year variations at
constant exchange rates
+11% +0% +6%
Ongoing operations
(€ in millions)
Security Patents Total first
quarter
2012
Total first
quarter
2011
Revenue 75 0 483 439
Year-on-year variations at
constant exchange rates
+14% ns +9%

Olivier Piou, Chief Executive Officer, commented:

“Gemalto delivers a record first quarter. Our extensive international presence enabled us to capture growth in the most dynamic regions.”

Our Mobile Communication offers are enjoying strong success in the market, Security continues its rapid expansion led by broad adoption of eGovernment programs, and Secure Transactions further improves its performance, on top of the strong acceleration recorded last year. We are well positioned in promising markets and continue along our transformation and expansion strategy. With this good start, we reaffirm our outlook for 2012 and our target of €300 million profit from operations for 2013.

General information
In the first quarter of 2012, revenue from Ongoing operations was up +9% year-on-year at constant exchange rates. It was up +10% at historical exchange rates.

Results for the Machine-to-Machine segment

€ in millions Q1 2012 Q1 2011
Revenue 43.8 43.0
Year-on-year variation at
constant exchange rates
+0.3%

The Machine-to-Machine segment posted revenue of €43.8 million, stable on last year’s first quarter. Strong revenue growth in the Americas fully compensated for lower activity in Europe.
During the quarter Gemalto sustained its investment in new products and services and its marketing efforts to support newly integrated offerings.

Additional information
Gemalto, ARM and Giesecke & Devrient announced the creation of a joint venture dedicated to delivering a secure software environment (Trusted Execution Environment, or TEE) for services running on the growing range of connected devices. This notably targets user-interface security for smart-TVs, game consoles, tablets and smartphones.

The joint venture creation is subject to regulatory approval. Technology developed by the joint venture will be based on established solutions from the founding companies. All three companies will contribute assets to the new venture, including patents, software, people, cash and capital equipment. ARM will own 40% of the joint venture, with Gemalto and Giesecke & Devrient each owning 30%.

The revenue of the activities that will be contributed by Gemalto to the joint venture is not material.

Outlook
For the full year 2012 Gemalto expects another year of expansion in revenue and profit from operations, with all main segments increasing their revenue and profit, limited revenue from Patents, and less seasonality in Mobile Communication, on its way towards its target of €300 million in profit from operations in 2013.

About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2011 annual revenues of €2 billion and more than 10,000 employees operating out of 74 offices and 14 Research & Development centers in 43 countries. Gemalto delivers for personal mobile services, payment security, identity protection, authenticated online services, cloud computing access, eHealthcare and eGovernment services, modern transportation solutions and machine-to-machine (M2M) communication. For more information visit www.gemalto.com
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