Banknote Security Printing & Minting Technology,

SICPA: Statement about Restructuring phase

2024-10-18 13:04:51 Oleh : FRANS MEI WARDANA .

• The international economic context has deteriorated and geopolitical tensions have increased considerably in many parts of the world in recent years and even more so in recent months.
• Logically, this has had an impact on a multinational like SICPA, whose customers are mainly nations and their governments.
• Some of the projects have been delayed, and the results have been directly affected by rising raw material prices, inflation, unfavourable exchange rates and the effects of the international sanctions with which SICPA complies.
• To adapt as effectively as possible to this environment, SICPA's management has decided to take immediate measures to improve economic efficiency and to implement a reorganisation that will enable the Group to manage its current and future projects with greater agility.
• This international context does not call into question SICPA's efforts to innovate.
• SICPA continues to effectively combine its expertise in the field of physical security (e.g. security inks for physical banknotes) with a continuous ramp-up in the fields of digital and data science to conquer new promising market segments. This vision has already enabled SICPA to position itself in key areas such as digital identity and central bank digital currencies.
• This effort must keep on, requiring SICPA to reorganise and develop current teams, building on the existing expertise and developing new ones. The business volume remains substantial, and SICPA's pipeline of projects is strong and continues to grow.
• To achieve these objectives, SICPA's management is planning a series of financial and operational measures to be deployed before the end of the year. These measures will affect the entire Group and its entities.
• In terms of employment, this restructuring could result in the loss of up to 120 positions in Switzerland.
• A consultation phase has been opened with employees to enable them to formulate proposals and suggestions likely to limit the extent of the measures envisaged as much as possible.
• SICPA employs 3,000 people in more than 40 countries on 5 continents.