Last checked at 23 Sep 2022 07:00
23 September 2022
DE LA RUE PLC ANNOUNCES EXTENSION OF ITS AUSTRALIAN PASSPORT CONTRACT
De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") today announces that it has entered into a 5-year extension of its contract with Note Printing Australia ("NPA") for the sole-source supply of polycarbonate data pages for Australian passports. This contract originally went live in February 2022 and had a 5-year duration; it has now been extended to 2032. The agreement will result in De La Rue investing further to expand production at its Malta facility to meet increased volume demand, with the additional investment being covered by incremental cash flows. The expanded capacity is expected to be in place around the beginning of Financial Year 2023/24.
Clive Vacher, CEO of De La Rue said, "We are grateful to Note Printing Australia for their confidence to extend our relationship to a full decade. This extension helps to underpin management's confidence in the Company's long-term outlook for the division. We are already in the process of delivering highly secure and durable polycarbonate data pages for the Australian passport programme, and we will ramp up this production further in the coming months. The additional investment will enable us to satisfy further demand, and is incremental to the previously-announced expansion of our Authentication and Currency factory in Malta. We look forward to many more years of continued collaboration with NPA."
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
Enquiries:
De La Rue plc | +44 (0) 7990 337707 |
| |
Clive Vacher | Chief Executive Officer |
| |
Rob Harding | Chief Financial Officer |
| |
Louise Rich | Head of Investor Relations |
| |
|
|
| |
Brunswick | +44 (0)207 404 5959 |
| |
Stuart Donnelly | |||
Ed Brown | |||
About De La Rue
De La Rue plc's purpose is to secure trust between people, businesses and governments. As a trusted partner of governments, central banks and commercial organisations seeking to secure their global supply chains and cash cycles, De La Rue provides highly secure physical and digital solutions that underpin the integrity of economies and trade.
De La Rue's Currency division provides market-leading end-to-end currency solutions, from finished banknotes to secure polymer substrate and banknote security features to over half the central banks and issuing authorities around the world.
Our Authentication division protects revenues and reputations through the provision of physical and digital solutions to governments and commercial organisations. We also manufacture financial documents and ID security components.
De La Rue's 2,300 employees work with organisations in more than 140 countries, leveraging the group's manufacturing facilities in the UK, US, Malta, Sri Lanka and Kenya.
De La Rue's shares are traded on the London Stock Exchange (LSE:DLAR). For further information please visit www.delarue.com.
Cautionary note regarding forward-looking statements
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "may", "will", "could", "shall", "risk", "aims", "predicts", "continues", "assumes", "positioned" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors, De La Rue or the Group concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth and strategies of De La Rue and the industry in which it operates.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Company. Past performance cannot be relied upon as a guide to future performance and should not be taken as a representation or assurance that trends or activities underlying past performance will continue in the future. Accordingly, investors or potential investors should not place undue reliance on these forward-looking statements. The Group's actual results of operations, financial condition, liquidity and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in this announcement. In addition, even if the results of operations, financial condition and liquidity of the Group and the development of the industry in which it operates, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods.
Other than in accordance with its legal or regulatory obligations, De La Rue does not undertake any obligation to update these forward-looking statements, which speak only as at the date of this announcement, and will not publicly release any revisions that may be made to these forward-looking statements, which may result from events or circumstances arising after the date of this announcement.