Germany's Giesecke+Devrient reports record orders amid crises, wars

German security technology and banknote maker Giesecke+Devrient reported record order intake last year, as crises and wars boosted demand for its products.

Chief executive Ralf Wintergerst told dpa that orders rose 8% to €3.6 billion ($4.2 billion) in 2025, the highest level in the company's history. Revenue increased 1.3% to just under €3.2 billion, while net profit fell by just over 3% to €85 million due to a tax effect.

Alongside the state-owned Bundesdruckerei, Giesecke+Devrient is the only German company authorized to print euro banknotes.

In addition to banknotes, the Munich-based company, founded in 1852, makes security technology for government agencies and the telecommunications industry, as well as software for banks and insurers.

Its products include encryption and authentication software, chips for credit and debit cards, and SIM and eSIM cards for mobile phones.

Wintergerst told dpa that all three business divisions had performed equally well, with security technology in particular gaining momentum.

He said the company was preparing its products for the age of quantum computing, adding that the firm also wants to expand its services for the financial sector after acquiring a payment technology and banking services unit in December.

Demand for cash remains strong as well. Wintergerst said the banknote division recorded the highest order backlog in the company's history in 2025.

"When uncertainty rises, many people turn to cash," he said, adding that savers in many countries preferred to hold euros and US dollars rather than inflation-prone local currencies.