Oberthur Technologies: 2010 Results

Thomas Savare, Chief Executive Officer of Oberthur Technologies comments: “The 2010 results show Oberthur Technologies in the light of both growth and profitability. The Group published strong growth, consolidated and for each of its markets, along with a significant improvement in its main profitability ratios. This financial performance has been achieved thanks to Oberthur Technologies’ operational and commercial successes. The Group can successfully pursue its strategy of profitable growth supported by innovation, the development of its services and solutions activities and its geographical expansion which enables us to be close to our customers.” 2010 Consolidated Results In 2010, Oberthur Technologies’ key ratios improved. The revenue increased by 8.2 percent compared to 2009, reaching a record level of 978.8M€. The profitability of the Group improved, for the current operating income (+12.9 percent compared with 2009), the EBIT (+17.3 percent compared with 2009) and the net result (+21.3 percent compared with 2009). This improvement of profitability levels in absolute values also manifests as a percentage of sales revenue. Thus, the EBIT margin accounts for 10.4 percent in 2010 compared with 9.6 percent in 2009 and the net result margin is at 6.1 percent in 2010 compared with 5.4 percent in 2009. Oberthur Technologies shareholders’ equity reached 328.5M€ at December 31, 2010 compared with 272.3M€ at December 31, 2009. At the same time, the net debt of the Group significantly decreased to 91.8M€ at December 31, 2010 compared with 123.5 M€ at 31 December 2009. The gearing thus considerably improved to 0.28 at the end of December 2010 compared with 0.45 the year before. 2010 Sales breakdown by activity Card Systems: €712.9 million (72.8 percent of global sales) Security Printing: €145.7 million (14.9 percent of global sales) Identity: €101.6 million (10.4 percent of global sales) Cash Protection: €17.8 million (1.8 percent of global sales) Sales of all activities improved in 2010 The Security Printing division recorded a remarkable increase of 50 percent of its banknotes activity. In 2010, the overall revenue of this division progressed by more than one third in comparison with 2009. The Identity division also recorded a significant progression notably with the development of its systems offer. In 2010 the Cash Protection division returned to positive profitability and participated in the Group’s solid performance. The revenue of the Card Systems division also increased in 2010 compared to 2009, with a return to growth in the second half of the year. The profitability of this division progressed steadily. 2010 Sales breakdown by region Europe 45.5 percent Russia Middle East & Africa 22.9 percent Americas 19.4 percent Asia 12,2 percent Outlook for 2011 Positioned among the world leaders in each of its businesses, the Group is looking forward to an acceleration of its growth during 2011 thanks to a robust backlog. www.oberthur.com 

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