Published On: 2. November 2023| Categories: Investor Relations| 0.9 min read| 175 words|

Restructuring and cost reduction, business development

SECANDA AG is reorganising its business in Germany and has bundled its largest subsidiaries in Germany to form SECANDA Systems AG for this purpose. After the conversion of InterCard GmbH into SECANDA Systems AG and the merger of the subsidiary IntraKey technologies AG into the company, the newly acquired subsidiary H. Schomäcker GmbH was also recently merged into SECANDA Systems AG.

The merger of the three companies is accompanied by significant cost reductions, which are currently being implemented as a package. Duplicate structures will be significantly reduced and personnel resources will be used more efficiently at the same time.

The cost reductions should make the SECANDA Group clearly profitable again from 2024, even if new markets and existing markets continue to develop as cautiously as they have recently.

Also due to the restructuring costs including severance payments, the SECANDA Group is not expected to close the current financial year with a profit. The current cost-cutting measures complement the first cost reductions in the Group, which had already been decided at the beginning of the year.

IR Contact

Gerson Riesle
SECANDA AG
Marienstraße 10
D-78054 Villingen-Schwenningen

Disclaimer for forward-looking statements

The documents provided on this website contain statements related to our future business and financial per­for­mance and future events or developments involving SECANDA Group that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward- looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of SECANDA’s management, of which many are beyond SECANDA’s control. These are subject to a number of risks, uncertainties and factors, including, but not limited to, those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Annual Report and in the Half-year Financial Report, which should be read in conjunction with the Annual Report. Should one or more of these risks or uncertainties materialize, events of force majeure, such as pandemics, occur or should decisions, assessments or requirements of regulatory authorities deviate from our expectations, or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of SECANDA may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. SECANDA neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of de­ve­lop­ments which differ from those anticipated.

All documents are available as an English translation; in the event of discrepancies, the German version of the document takes precedence over the English translation. For technical reasons, there may be discrepancies between the accounting documents contained in this document and those published due to legal requirements.

The documents provided on this website contain statements related to our future business and financial performance and future events or developments involving SECANDA Group that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning.

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We may also make forward- looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward- looking statements. Such statements are based on the current expectations and certain assumptions of SECANDA’s management, of which many are beyond SECANDA’s control. These are subject to a number of risks, uncertainties and factors, including, but not limited to, those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Annual Report and in the Half-year Financial Report, which should be read in conjunction with the Annual Report. Should one or more of these risks or uncertainties materialize, events of force majeure, such as pandemics, occur or should decisions, assessments or requirements of regulatory authorities deviate from our expectations, or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of SECANDA may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. SECANDA neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

All documents are available as an English translation; in the event of discrepancies, the German version of the document takes precedence over the English translation. For technical reasons, there may be discrepancies between the accounting documents contained in this document and those published due to legal requirements.

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