Turnaround Plan Pays Off for De La Rue

De La Rue’s results for 2020-21 were not expected to be easy to understand or compare with the previous year(s) due to all the changes that took place, continued this last year and will continue, albeit to a much lesser extent this coming financial year. However, the main takeaway is that the company is alive and well and positive about its future.

The adjusted revenue for the year (which excludes pass-through revenue from non-novated contacts following the sales of the paper and international ID solutions businesses) was £388.1 million, a fall of 10.2% compared with 2019/20. The Currency Division’s revenue increased by 1.8% from to £286.8 million. The Authentication Division’s adjusted revenue also increased, by 5% to £77.6 million. Revenue from Identity Solutions, as expected, declined substantially (by 69.1%) to £23.7 million following the loss of the British passport contract.