Financial highlights

Performance highlights(*)?




(2009: €1,602m)

Net cash



(2009: €381m)

IFRS net profit



(2009: €118m)

Profit from operations(**)



(2009: €181m)

Cash generated by operating activities



(2009: 200m)

Adjusted basic earnings per share(**)



(2009: €1.91)

Profit margin from operations(**)



(2009: 11.3%)

Cash returned to shareholders (share buy-back plus dividend)



(2009: €65m)

Return on Capital Employed (ROCE)(**)


+70 basis points

(2009: 15.3%)

Adjusted financial information.

“Gemalto delivered a strong performance in 2010, posting a new revenue record of more than one billion euros in the second semester. Secure Transactions and Security reached their profit margin objective one year ahead of schedule. Their significant profit expansion strengthens and diversifies our sources of profit as anticipated in our 2010-2013 plan. We continued to invest in the development of our software and services offers in Mobile Communication, doubling revenue and delivering on several flagship customer projects. The good performance of the Machine-to-Machine business also contributed to our profit in the Telecom space. On this solid basis, and in particular leveraging the acquisitions we’ve made, we intend to continue to grow our revenue and profit in 2011, and are bolstered in our ability to deliver on the €300 million profit from operations target in 2013.”

Olivier Piou
Chief Executive Officer

The Board report comprises the following sections: ‘Our vision’, ‘Segmental review’, ‘Group financial and operating review’, and ‘Governance’.

Gemalto N.V. is a public company incorporated in the Netherlands. It is headquartered in Amsterdam and has subsidiaries around the world. Unless otherwise specified, we refer to them as ‘Gemalto’.

  • For more information visit
  • (*) The Company business in point of sales terminals was disposed of on December 31, 2010. As per IFRS, the contribution of this activity to the Company IFRS income statement is reclassified for both 2009 and 2010 reporting periods, and its net contribution is presented as a single amount on the line item “Profit (loss) from discontinued operations (net of income tax)”. As a result, financial information for the 2009 reporting period differs from previously reported figures.