RCS - De La Rue PLC - Extension of contract

De La RueAnnouncement

23/09/2022 07:00

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RNS Number : 3652A  De La Rue PLC  23 September 2022

 

 

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 (http://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.

 

 

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