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Corporation
BUSINESS PRODUCTS & SERVICES | Commercial Printing
delarue.com

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Portfolio Exits

2

Partners & Customers

10

About De La Rue

De La Rue (LON: DLAR) designs, manufactures, and delivers banknotes, banknote substrates, and security features to governments, central banks, and commercial organizations.

De La Rue Headquarter Location

De La Rue House, Jays Close Viables Basingstoke

Hampshire, England, RG22 4BS,

United Kingdom

+44 (0)1256 605000

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De La Rue Web Traffic

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Latest De La Rue News

De La Rue hails strong performance since loss of UK passport contract

Nov 24, 2021

De La Rue hails strong performance since loss of UK passport contract The listed company stopped making UK passports at the end of last year, leading to North East job losses 08:27, 24 NOV 2021 De La Rue in Gateshead (Image: Daily Mirror) Sign up to FREE email alerts from BusinessLive - Enterprise - good ideas, product development and SME news every WednesdayInvalid EmailSomething went wrong, please try again later. Subscribe We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Thank you for subscribingWe have more newsletters Show me See our privacy notice Bank note printer De La Rue says strong performance has helped to offset the loss of its UK Passport contract, which triggered North East job losses. The company, which still has a small number of staff at its Gateshead site, also operations in Bolton, Basingstoke and Debden. It said adjusted operating profit for the six months ended September 25 2021 was up by 165.6% to £17.0m and that its turnaround plan and cost reduction activities continue to strengthen performance compared to the last two years’ comparable periods. It also said its turnaround plan and cost reduction activities continue to strengthen performance compared to the last two years’ comparable periods. Revenues rose almost 1% to £179.2m, while operating profit from continuing operations was up 200% to £13.8m. It said trading to date for the full year has been positive and the outlook continues to be in line with the board’s expectations. It said IFRS operating profit was £13.8m, up from £4.6m, as the previous half year included charges of £10.2m – a figure which included significant charges relating to the cessation of banknote printing at the group’s Gateshead facility. Adjusted operating profit was £17.4m, which includes 165.6% growth in its two ongoing divisions, which its said more than offsets the impact of the loss of the UK passport contract. The listed company, which produces banknotes and passports for countries around the world, stopped its UK passport operations in Gateshead during the first half of the 2020/21 financial year, after losing the contract to print the post-Brexit blue passports two years ago, to Franco-Dutch firm Gemalto. The results included £1.5m of restructuring charges relating to the end of banknote production at Gateshead, mostly the costs of relocating equipment to different manufacturing locations. The firm made big changes at the Gateshead site in December 2020, taking the decision to stop printing banknotes at Team Valley after many decades, massively reducing its North East workforce to leave a team which works in the currency and authentication divisions. In January the company revealed it was opening a new facility at Westhoughton, near Bolton, to specialise in manufacturing De La Rue’s Safeguard polymer substrate, which is used in its banknotes. Clive Vacher, chief executive officer of De La Rue, said: “Our first half results have shown substantial improvement in the group’s financial and operational performance. We continue to make progress in executing our Turnaround Plan, which is delivering both operating improvements and cost reductions. “These, coupled with our increasing market competitiveness, have resulted in stronger adjusted operating profit and excellent cashflows generated from operating activities. The results from our two ongoing divisions, authentication and currency, have more than offset the cessation of the UK passport contract last financial year. “We are continuing to invest in authentication and currency in line with our turnaround plan. In H1 2021/22, we announced a substantial expansion of our facility in Malta that will increase manufacturing capacity and flexibility for both divisions. “We will achieve this additionally without exceeding the original total turnaround investment of £79.8m. Our polymer expansion plans in the UK, which will see a doubling of production capacity, are on track, with the new production line being operational early in Q4 this financial year. “We continue to monitor and work to mitigate headwinds in commodity and energy costs, and challenges in the supply chain. The De La Rue team has additionally overcome some Covid-19 disruption in H1 2021/22, and I am pleased that we have performed strongly despite these challenges.” Read More

De La Rue Portfolio Exits

2 Portfolio Exits

De La Rue has 2 portfolio exits. Their latest portfolio exit was De La Rue - International Identity Solutions Business on June 13, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/13/2019

Divestiture

2

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$991

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10

Date

6/13/2019

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Exit

Divestiture

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Companies

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Valuation

$991

Acquirer

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Sources

2

10

De La Rue Acquisitions

1 Acquisition

De La Rue acquired 1 company. Their latest acquisition was DuPont - Authentication Business on December 12, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/12/2016

Acquired Unit

1

Date

12/12/2016

Investment Stage

Companies

Valuation

Total Funding

Note

Acquired Unit

Sources

1

De La Rue Partners & Customers

10 Partners and customers

De La Rue has 10 strategic partners and customers. De La Rue recently partnered with Bank of England on October 10, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

10/30/2020

Client

Bank of England

United Kingdom

Extension of the Bank of England contract Published on 30 Oct 2020 by De La Rue plc.

Today 's announcement continues the partnership between De La Rue and the Bank of England , that stretches back to 2003 .

2

9/16/2019

Supplier

KushCo Holdings

United States

KushCo Holdings Enters Exclusive Distribution Agreement with De La Rue to Authenticate Products Throughout the Supply Chain

GARDEN GROVE , CA / ACCESSWIRE / September 16 , 2019 / KushCo Holdings , Inc. , today announced it has entered an exclusive distribution agreement with De La Rue , a global leader in anti-counterfeiting and authentication solutions .

2

6/4/2019

Client

Polymer

United States

De La Rue awarded contract to provide polymer substrate for the new Bank of England £50 note

De La Rue has been awarded a contract to jointly supply polymer for the Bank of England 's new £ 50 bank note .

1

2/5/2019

Partner

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10

9/4/2018

Partner

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10

Date

10/30/2020

9/16/2019

6/4/2019

2/5/2019

9/4/2018

Type

Client

Supplier

Client

Partner

Partner

Business Partner

Bank of England

KushCo Holdings

Polymer

Country

United Kingdom

United States

United States

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News Snippet

Extension of the Bank of England contract Published on 30 Oct 2020 by De La Rue plc.

Today 's announcement continues the partnership between De La Rue and the Bank of England , that stretches back to 2003 .

KushCo Holdings Enters Exclusive Distribution Agreement with De La Rue to Authenticate Products Throughout the Supply Chain

GARDEN GROVE , CA / ACCESSWIRE / September 16 , 2019 / KushCo Holdings , Inc. , today announced it has entered an exclusive distribution agreement with De La Rue , a global leader in anti-counterfeiting and authentication solutions .

De La Rue awarded contract to provide polymer substrate for the new Bank of England £50 note

De La Rue has been awarded a contract to jointly supply polymer for the Bank of England 's new £ 50 bank note .

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Sources

2

2

1

10

10

De La Rue Team

2 Team Members

De La Rue has 2 team members, including former Senior Vice President, John W Smith.

Name

Work History

Title

Status

John W Smith

Senior Vice President

Former

Peter Cosgrove

Managing Director

Former

Name

John W Smith

Peter Cosgrove

Work History

Title

Senior Vice President

Managing Director

Status

Former

Former

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