SMARTRAC has announced a 4% growth in sales in its first quarter 2012 results.

The company says it started the year positively despite the continuing effects of the flood in Thailand late last year. It increased its revenues in the first three months of 2012 with total sales rising by 4% from 49 million euros in Q1-2011 to 51 million euros in Q1-2012. This was a result of strong growth in its Industry Segment, particularly its tickets & labels business.

EBITDA dropped, from 5 million euros in the first three months 2011 to 3 million euros in the first three months of 2012. Profit for the period increased to 1 million euros compared with 0.6 million euros last year. This increase was mainly a result of the first insurance payouts following the Thaiflood.

SMARTRAC´s Security Segment (Business Units Cards and eID) generated revenue of 31 million euros, a 17% decline from sales of 37 million euros last year. The company says this was also caused by the flood in the fourth quarter of 2011. In Q1-2012 the Security Segment accounted for 61% of total group revenue compared to 76% a year ago.

“We started the year with positive momentum from acquisitions and a burden from the flood disaster in Thailand. We are, however, confident that we will overcome the latter and derive value and growth from the integration of new business activities,” says Dr Christian Fischer, CEO of SMARTRAC.