MUNICH— Giesecke & Devrient has reported strong growth in sales and earnings in its consolidated results for fiscal year 2007. The company’s worldwide operations generated net sales of €1.55 billion, an increase of 20% year-on-year. Earnings before interest and tax grew at a higher rate than sales, increasing by 73% to €161 million.

“Our business is growing—we have significantly improved our profitability—and our balance sheet is very solidly structured,” says CEO Karsten Ottenberg. “With all of our business units positioned well in their respective markets, our strengthened innovation power and the increased efficiency of our internal processes, we have an excellent basis from which to achieve further strategic growth.”

Each of Giesecke & Devrient’s business units (Banknote, Cards and Services, Government Solutions) is primed for growth. As in the past, the Banknote business delivered the highest contribution to revenues, with sales amounting to €833 million. Sales by the Cards and Services unit increased to €577 million, gaining additional share of this competitive market.

Giesecke & Devrient generated well over 80% of its total net sales with customers in 155 countries outside Germany. “Through our over 50 subsidiaries and joint ventures in more than 30 countries, we are able to engage in close dialog with our customers,” Ottenberg says. “Moreover, we are continuing to enhance the level of cooperation among our business units and to focus our commitment on the three pillars on which our business success is founded: innovative power, customer intimacy, and trust in our brand.”