XIRING, a leading French security solution provider for remote
transactions, posted operating income of 1.1 million Euro and a net
profit of 1.3 million Euro to December 31, 2006. The company will
strengthen its development in the banking and healthcare markets in 2007
by pursuing a strategy of technology innovation.
Financial year 2006:
In 2006, XIRING showed strong growth in its business and a significant
increase in profitability. The company posted revenue of 12.8 million
Euro on December 31, 2006, up 41%. Business was driven by growth in
sales of banking authentication solutions and by the company’s
increasingly strong position on the healthcare market. Sales of
solutions dedicated to remote banking grew by 65%, representing a
growing share of the business (29%), while sales of its SESAM-Vitale
healthcare products were up by 24%.
These developments, combined with stable operating expenses, enabled
XIRING to generate operating income of 1.1 million Euro, which is an
increase of over three points of operating margin for the financial
year. XIRING’s net profit at December 31, 2006 was up 160% to 1.3
million Euro.
A sound financial situation:
As of December 31, 2006 XIRING has equity of 9.6 million Euro and a net
cash position of 3.6 million Euro. The balance sheet at the end of 2006
integrates funds raised with the listing on Euronext Paris’s Alternext
exchange in September 2006 (net increase in share capital of 3.8 million
Euro).
Continued development in the remote banking market:
With strong recognition from the main global operators, Visa and
MasterCard, and with over two million authentication solutions already
deployed in leading international banking institutions, XIRING has
established itself as a key player in the remote banking security
market, which provides considerable growth opportunities. In 2007, the
company intends to strengthen its R&D, marketing and sales forces to
extend its range of solutions (products, software and services) and
increase market share. The company expects strong growth in the UK,
Europe’s most advanced country in the deployment of remote banking
security solutions.
Strengthened position in the healthcare market in France:
XIRING is one of the leading players in SESAME-Vitale solutions in
France, benefiting from a market that is mature, undergoing renewal and
constantly evolving (Vitale 2, online architecture, etc.). The company
is also established in the fixed reader market, with a particularly
innovative reader, the PRIUM 3-S, and is pursuing its development in its
flagship market segments, with the launch in 2007 of the 2nd generation
of the service “le Point Xiring” (remote update service for Vitale
health cards in pharmacies).
2007, an investment strategy to generate strong and sustainable growth:
In line with the objectives announced at the IPO, XIRING intends to
become one of the three world leaders in the banking authentication
market and establish itself as the leader in the healthcare sector in
France within the next three years. The company is also pursuing
technological developments in the sectors of electronic identity and
corporate security two areas likely to take on increasing importance in
the company’s business in the medium term.
XIRING is experiencing strong growth and its targets for the 2007
financial year are growth in revenue of 30% plus and an operating margin
exceeding 7%.
