Gemalto NV’s Secure Transactions unit, which includes banking cards, generated 207.4 million euros (US$253 million) in revenue during the first half of this year, up 1.4% from 204.6 million euros during the same period in 2009, the France-based smart card vendor announced Aug. 26. The unit’s profit from operations totaled 5.6 million euros, down 24.3% from 7.4 million euros.
“In line with the first quarter trend, the first semester was marked by strong revenue growth in countries migrating to EMV, notably in the Americas, while upgrades to contactless dual-interface payment cards continued to ramp up in Europe,” the vendor said in an earnings statement. “The favorable contribution from high-end contactless cards more than compensated the effect of lower activity in the United Kingdom.”
However, the end of the quarter was marked by a return to growing demand from UK financial institutions as they prepare for the return to normal card-renewal levels by yearend, Gemalto noted.
As a company, Gemalto reported first-half revenues of 840 million euros, up 5% from 800 million euros a year earlier. Net profit was down 7.4%, to 63 million euros from 68 million euros.
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