INCM sales continue to grow

April 23, 2018

In 2017, INCM obtained the global sales amount of 96 million Euros, which corresponded to an increase of 1,6% compared with the previous year, with a Compound Annual Growth Rate (CAGR) of 4,5% in the 2014-2105 cycle, reaching a net result of 15 million Euros, corresponding to 16% of the turnover.

The increase in turnover was reached, although the activity associated with the traditional graphic products of INCM continues to decrease in importance, being replaced by products or services with a higher added value, particularly with the incorporation of elements of security and/or customisation, in the Portuguese market or in Lusophone markets.

The current activity grew 2,3%, that was due mainly to the increase of approximately 10% in the sales of the Coin business unit, justified by the sales of normal finishing coins, in particular current coins for Portugal and for other countries, which have compensated the reduction occurred in the sale of commemorative coins with special finishing. The Coin business unit represented approximately 27% of the company’s global current activity.

The Graphic area, which represented 66% of the company’s activity has also contributed to the increase in current sales in 2017 increasing its sales in approximately 2,3%, and we emphasise the increase in sales of national passports and also passports for other countries in result of internationalisation processes, such as the process of customisation of passports for Cape Verde. The export of graphic security products and services represented around 3% of the of the activity of this business unit.

Globally, INCM maintained in 2017 the same gross margin generated compared with the sales in 2016. The Graphic and Coin areas are the ones that contribute the most for the global profitability of the company, respectively with 74% and 25% da of global gross margin generated in 2017. The reduction of INCM global profitability in 25% was mainly due to the accounting of impairment in non-depreciable fixed assets.

During 2017, INCM pursued the strategy already defined in the production and supply of goods and services with high security standards, focused on the customer and on innovative solutions and consolidated the strategy of internationalisation, of reinforcement of the investment in the improvement of the internal efficiency and of the investment in R&D, in the innovation in security technological products, with the purpose of maintaining its competitiveness in the market where it operates, ensuring the company’s sustainability and the adequate remuneration of the shareholder.

In 2017, INCM continued to be acknowledged also as a promoter of the Portuguese language and culture, reason why it recently became one of the first 10 national companies joining the programme Empresa Promotora da Língua Portuguesa (EPLP) (Company Promoting the Portuguese Language) from, Camões - Instituto da Cooperação e da Língua (Institute of Cooperation and Language), with the support of the Ministry of Foreign Affairs.

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