Interim Results – Encouraging Signs

This month we report on the interim results for two leaders in the currency sector – Orell Füssli Security Printing and Prosegur Cash.

Revenues for the Orell Füssli group in the traditionally weaker first half of 2024 were 2% higher than the first half of 2023 at CHF 107.1 million. Operating profit was down by 15% to CHF 4.6 million.

Sales for the Security Printing division were down by 3.1% to CHF 38 million, and EBIT by 10% to CHF 5.5 million. Increased costs and the product mix were the reasons given.

But the company also noted significant successes in the first half, with contracts coming from customers in the ‘global south’, some of several years’ duration, and central banks moving from ordering at short notice to a long-term approach, which it deemed an encouraging sign.

The signs were also good in its Industrial Systems division, with Zeiser winning several contracts in banknote serialisation with its order backlog noted as pleasingly high.