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In a significant stride for digital identification solutions, OeSD Holding AG, an Austrian company specialising in secure electronic services, has reported impressive results in the first half of the business year 2019/20. The company's total turnover increased to EUR 32 million, marking a substantial rise from EUR 25.6 million in the previous year.
A key factor in OeSD Holding AG's success is the implementation of international large orders, which contributed to a significant boost in foreign sales. The company saw a remarkable increase from EUR 2.3 million to EUR 7.1 million in foreign sales during this period, reflecting the company's international growth strategy.
The company's flagship product, the eID solution known as "MIA", has been a significant contributor to this success. The "MIA" app, designed with future electronic authentication needs in mind, was a decisive factor in OeSD Holding AG winning first place at the "Africa Innovation Challenge" of the Austrian Economic Chamber in June.
The app, highly secure and allowing for electronic authentication through a smartphone if desired, is set to be introduced in Liechtenstein starting from 2020. This introduction is seen as a significant milestone for OeSD Holding AG and its partners, as all citizens of Liechtenstein will be able to complete administrative tasks digitally and authenticate themselves online using the app "MIA".
The CEO of the company, Robert Schächter, attributes the pleasing result to the successful implementation of these international large orders. After deduction of income taxes, the overall result for the period was EUR 4.3 million, an increase from EUR 3.2 million in the previous year. The pre-tax result was EUR 6.0 million, an increase from EUR 4.3 million in the previous year, and Supported by the successful development in international business, EBIT amounted to EUR 6.1 million, an increase from EUR 4.5 million in the previous year.
Despite the positive financial results, sales of Austrian identification documents in the domestic market remained stable during the same period. The financial result was EUR -0.1 million, the same as in the previous year.
For a more detailed and accurate summary of OeSD Holding AG's achievements, expansions, awards, and specifics about the eID "MIA" implementation, readers are encouraged to refer to the company's official annual report, available at this link: https://www.ourwebsite/investor-relations/reports-publications/
The company's success in the international market is a testament to its commitment to innovation, security, and usability in digital identification solutions. As the digital world continues to evolve, OeSD Holding AG is poised to lead the way in secure and efficient digital identification services.
The significant boost in foreign sales, which increased from EUR 2.3 million to EUR 7.1 million, is a testament to OeSD Holding AG's international growth strategy in the business sector. The implementation of technology-driven products like the "MIA" app, designed for future electronic authentication needs, has played a crucial role in the company's success in the digital identification solutions market.
