RFID Talk Blog

Smartrac posts record year with sales of EUR 180M; expects more strong growth for 2011

It’s becoming clear just how strong a year 2010 was for the RFID sector. It’s been widely reported that tag manufactures couldn’t keep up with demand in 2010, as the economy rebounded and companies began implementing RFID trials and production deployments in earnest.

Publicly traded Smartrac N.V., a manufacturer of RFID transponders based in Amsterdam, shed some light on the industry growth when it reported its financial figures for fiscal 2010 earlier today.

The firm grew sales by a robust 41 percent in 2010, reaching EUR $180.1 million. The company expects more normalcy from the market this year – albeit still double digit growth – to push sales to EUR $200M.

“The year 2010 was an exceptional one for SMARTRAC,” said said Dr. Christian Fischer in a release. “We have accomplished several strategic milestones and shaped the foundations for the future of our company,” said Dr. Christian Fischer. “However, we are also aware of the fact that certain challenges remained unsolved in 2010 and will require our full attention in 2011. For 2011, we expected Group sales to grow to EUR 200 million. In terms of profitability, we are working hard to achieve Group EBITDA margins which come back closer to past levels.”

Click here to view the full earnings report.

 

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