The Swiss subsidiary of SECANDA AG (formerly InterCard) is currently experiencing weaker business development than recently expected. Furthermore, some projects in the Physical Access & Time business unit will be postponed until 2023 due to delayed material deliveries. As a result, we expect only a slightly positive result for the Group for the full year 2022.

After the current takeover of the most important market companion in the German university market to date and with the merger of our largest subsidiaries in Germany, we expect rising revenues and a significant improvement in profitability again for the 2023 financial year. The realignment will not only result in synergies and savings, but also in potentials from the joint use of technologies and the joint market development in Germany.