Products for bad times
Security technology manufacturer G+D benefits from uncertainty
A product of the family company Giesecke+Devrient, founded in 1852, has already held in his hands: euro banknotes. But the most important product in times of crisis is security.
The security and banknote manufacturer Giesecke + Devrient reports good business in economically bad times. Last year, the turnover of the company founded in 1852 rose by five percent to EUR 3.1 billion, as CEO Ralf Wintergerst said to the German Press Agency. The order input also increased to a record mark of 3.3 billion euros and was therefore even higher than sales.
Security technology is becoming increasingly important
“This is a good sign that we put the transformation from G+D to the next level,” said Wintergerst. The family business, founded in Leipzig in 1852 with a good 14,000 employees, was previously specialized in banknotes. G+D is one of the few companies that print Euronotes, and over 140 central banks are part of the global customers.
After a corporate crisis in the past decade, there are now two comparably large business areas in addition to banknote printing: digital security and technology for the financial sector from bank cards to customer verification. G+D is not listed and did not name the net profit.
“We now have three strong pillars, all of which now bring sales over one billion euros,” said Wintergerst, who is headed by the Bitkom digital industry association in his second role.
Uncertainty promotes business
G+D benefits from the geopolitical uncertain times. According to Wintergerst’s words, the area of digital security grew by seven percent to well over a billion sales, including the protection of critical infrastructure from cyber attacks. “Identity solutions” run particularly well, which includes encryption verification and authentication of personal data, whether in the passport or digital. Identity solutions physically and digital are extremely popular, said Wintergerst, as well as high-end crypto technology.
The growing estrangement in relation to the US government of President Donald Trump obviously also helps. “Securing communication is more important than ever,” said the G+D boss. “This year there is again new impulses due to the recent movements of the US government, because we should become a little more sovereign, especially with IT and digital technologies. And in this area we have sovereign solutions that come from Germany.”
dpa
Source: Stern
