In the December issue of Currency News™ we ran an article entitled ‘Reports of the Death of Cash are Greatly Exaggerated’, paraphrasing Mark Twain’s immortal words in response to reading his own obituary. In it, we mused over how widescale reports of the death of cash are at odds with numerous investments around the world in banknote production and distribution.

Recent financial results from Crane NXT highlight growing global demand for advanced authentication technologies, especially its platform of micro-optic security features for banknotes. In mid February the company reported strong performance for the fourth quarter and full year ending 31 December 2025, reflecting wider adoption of its currency and security solutions by central banks worldwide.

Monnaie de Paris (MdP) has announced strong financial and operational results for 2025, marking its sixth consecutive year of positive profitability and reinforcing the institution’s ongoing transformation. Contrary to forecasts of a decline in revenue following an ‘exceptional year’ in 2024, largely driven by the Paris Olympic and Paralympic Games, MdP has reported an historic turnover at year end.

Over the course of February and March, five of the leaders in the distribution and management of cash in circulation published their annual results for 2025 – ATM and self service specialists Diebold Nixdorf and NCR Atleos, and CIT and cash handling companies Prosegur, Brinks, and Loomis.

Bharatiya Reserve Bank Note Mudran Pvt Ltd (BRBNMPL), a wholly owned subsidiary of the Reserve Bank of India, has issued a global Expression of Interest (EOI/010/CO/2025-26) to establish a manufacturing facility for colour shift films (CSF), colour shift pigments (CSP), and related security features at its Mysuru site.

Orell Füssli has just released its 2025 annual report, which shows revenue up by 8% to CHF 272.8 million, operating profit up by 17.7% to CHF 41.3 million and net profit up by 31% to CHF 23 million.

Giesecke+Devrient (G+D)’s 2025 results detail its strong order intake for the year, a record at €3.6 billion, highlighting its strong growth prospects in providing SecurityTech for mission critical infrastructure.

De La Rue held two workshops, at HSP Asia in Kuala Lumpur last December and HSP EMEA in Rabat this February respectively, on the topic of making informed currency choices. Central to making such choices is the company’s DLR Analytics platform, as described here.

We invariably cover the financial results of the public (listed) companies in our sector, certainly annually and sometimes their interim results too, as a means of taking the temperature of the industry. To supplement this is Industry Watch, now published annually rather than quarterly, which specifically looks at their share prices over the period of the preceding year.

Banknote security specialist Hueck Folien has acquired California-based WaveFront Technology LLC, transforming the Austrian firm into a ‘full-liner’ with end-to-end control over the security feature lifecycle. By integrating WaveFront’s 30-year expertise in micro and nanostructures, Hueck Folien says that it secures strategic independence and the ability to originate custom optical designs in-house. The value of the transaction was not disclosed.