- Memorandum of Understanding (MoU) with the prominent German manufacturer of identity and security systems will aid E7’s growth ambitions globally.
- E7 will provide Diletta with world-leading capability and production services, with Diletta promoting E7’s products to its broad customer base as a strategic partner.
- The MOU marks a significant step in E7’s organic growth strategy as it opens up opportunities through partnerships and extends its global reach.
7 May 2024, Abu Dhabi, United Arab Emirates: E7 Group PJSC (“E7” or “the Group”), UAE’s leading provider of commercial printing, security solutions, sustainable packaging and distribution services (ADX: E7) has signed a Memorandum of Understanding (MoU) with Diletta Maschinentechnik GmbH (“Diletta”), a prominent German manufacturer of identity and security systems for government and national institutions.
Under the agreement, E7 Group will serve as a strategic partner for Diletta, printing high-security travel and identity documents for Diletta’s clients. Diletta was established in 1956 and currently serves customers in more than 100 countries, providing personalised technology systems for e-passports, visas, and travel documents.
E7 Security, the Group’s dedicated security solutions segment, is a leading provider of technology-enabled security solutions, designing and producing national IDs, passports and various security documents and cards for governments, telecommunications, banking and other sectors. This year, E7 Security has signed several new customer contracts with a combined value of more than AED 37 million to supply e-passports, electronic identification (eID) solutions and driving license ID solutions to customers in Africa, LATAM and the Middle East.
E7’s partnership with Diletta aligns with its ambition to extend its global footprint through customer acquisition, partnerships and JVs, while exploring M&A opportunities. E7 Group is well-positioned to increase its geographic reach beyond the 25 countries it currently serves.
Ali Alnuaimi, Chief Executive Officer of E7 Group, said: “We are delighted to partner with Diletta Maschinentechnik GmbH, a leading player in identity and security systems in Germany, reinforcing our commitment to innovation, international partnerships and strengthening our capability in the security solutions segment.
“In partnering with Diletta, we will unlock new customer and market opportunities through providing products to its established government and private sector network across Europe.
“We continue to invest in growing our high-value security solutions segment, acquiring new customers in Africa, LATAM and the Middle East this year while advancing with our plans to further expand the security value chain.”
E7 Group delivered an impressive financial performance in 2023, with revenue increasing by 11% to AED 651.9 million and net profit before one-off items increasing by 106% to AED 140.3 million. The group entered 2024 with a robust cash position of AED 1.29 billion. This solid financial position and its strategic growth plans position the Group favourably to capitalise on expansion opportunities and deliver sustained value to its stakeholders.
