SECANDA AG (formerly InterCard) closed the first half of 2023 with revenue growth to EUR 12,099 thousand. In the same period of the previous year, the group’s revenues amounted to KEUR 10,844. This is due to the positive business development in our DIGITAL ACCESS & CYBER SECURITY division, which grew from kEUR 2,351 to kEUR 3,253. The remaining growth is acquisition-related, after the PHYSICAL ACCESS & TIME area largely stagnated. The IDENTIFICATION & PAYMENT segment did not yet meet our expectations in the first half of 2023.
In the first half of the year, EBITDA in the Group according to IFRS was KEUR 41 (previous year: 730), EBIT was KEUR -555 (previous year: 190), EBT was KEUR -661 (previous year: 112) and net income was KEUR -555 (previous year: 103).
Already at the beginning of the year, it was decided to significantly reduce costs across the Group. The cost reductions will take full effect in the second half of this year. The next step is no longer just about cost reductions, but rather a realignment and restructuring of the largest subsidiary SECANDA Systems AG.
Admittedly, the new smart card and app-based systems have been and are still being commissioned with delay by the universities and in the new markets. Nevertheless, it has become apparent that the new systems are in demand on the market and are being purchased. Several universities and student unions have already commissioned one of the new systems, which enables the parallel operation of chip card and app.
Veritable further offers have been placed. However, decision-making is complex, also because different areas of responsibility are involved. At the same time, client resources for decisions and tenders are very strained after the end of the pandemic.
After a low turnover and a loss in the first half of 2023, we expect a profit again in the second half of 2023.
→ Download Half-Year Report 2023 (PDF 1.72 MB)