Apr 21, 2010

OpenLimit Concludes Groundbreaking Year Successfully and Looks Confidently into the Future

This morning, OpenLimit published its Annual Report 2009. Total income increased by 3% to CHF 9.6m in comparison to 2008. The year, however, concluded with a loss of CHF 0.80m. OpenLimit continued to invest in personnel resources, in line with the positive market developments. Personnel expenses, associated costs and higher depreciation and amortization, which increased by 76% to almost CHF 2.0 Mio., were the principal reasons for the loss. Although annual revenue at CHF 6.6m was 8% lower compared to the previous year, the year was nonetheless very successful. Through the achievement of several milestones, such as the award of the contract by Siemens to develop the Citizen Client for the new German ID-card, the conclusion of the strategic partnership with Siemens or the technological collaboration with Fujitsu within the scope of the development for the long-term archiving solution, SecDocs, we not only positioned ourselves securely in the eID market, but also created a good initial position for long-lasting and sustainable growth.

„The year 2009 was again another milestone year. The successes in 2009 confirm the overall strategy, and we are going to maintain and even expand this direction in the future," says Marc Gurov, CEO of OpenLimit.

Strong Concentration on Groundbreaking Projects
The primary focus in 2009 was the positioning in the growing eID market. Without a substantial focus of our resources, the awarding of the contract to develop the Citizen Client (Bürgerclient), the application software for the new identity card in Germany, would not have been possible. This contract is the biggest in the history of OpenLimit and was followed by the conclusion of a strategic partnership with Siemens, from whom OpenLimit received the contract. Therefore, the OpenLimit technologies will be issued in a Client environment over the next years to the citizens of the Federal Republic of Germany, beginning November 1st, 2010. This will augment demand for server technologies for electronic authentication and signature processes going forward because with their implementation, media-consistent processes and increased efficiency can be realized speedily. As the technological leader, OpenLimit has a unique chance to further strengthen its innovative lead.

Outlook for 2010
The current developments in the OpenLimit target market, Germany, justify mid to long-term trust in the growth potential of the young electronic signature market. OpenLimit is going to place a strong emphasis on the development of further server technologies, also in conjunction with its partners. Revenue growth is expected to occur particularly through the selling of server technologies. The cooperative development of the eID-server together with the Bundesdruckerei and the start of the certification of the Fujitsu technology, SecDocs, which is based on the OpenLimit middleware technologies for the long-term storage, are good examples thereof.
OpenLimit also expects that existing partnerships are going to become strategic partnerships. Furthermore, new partnerships will be established in the growing market. This development is going to support the internationalizing of our business activities.

With the planned activities and a seven digit EUR order volume, we assume a growth in revenues by 30% in 2010 in comparison to 2009. In addition, we again will strive to achieve an annual profit in 2010. Beginning with the roll out of the new identity card in Germany, OpenLimit and its partners should be able to take advantage of the market possibilities and grow more strongly in the future.

You may download the Annual Report 2009 of the OpenLimit Group via the following link:


OpenLimit Concludes Groundbreaking Year Successfully and Looks Confidently into the Future

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