Global currency and payments technology company Crane NXT reported a 9.1% year-on-year increase in net sales to US$404.4 million in 2Q25, although operating profit fell by 29.1% to US$47.9 million in part due to a challenging quarter for payments arm Crane Payment Innovations (CPI).
CPI, which develops and manufactures automated vending machines, payment terminals, touchscreens, cashless systems and vending‑management software – and boasts a strong presence in Asia – saw sales decline by 5.8% to US$211.4 million while segment operating profit was down 20.2% to US$49.0 million.
Crane NXT explained that CPI’s quarter was hurt by lower volumes, with operating profit margin decreasing 420 basis points to 23.2% primarily reflecting the impact of those lower volumes, partially offset by productivity gains.
Aaron W. Saak, Crane NXT’s President and CEO, stated: “Our second quarter results were in line with our expectations, with sales growth of approximately 9% and adjusted segment operating profit margin of approximately 24%. We are excited about the continued record high backlog in international currency and the positive momentum in CPI gaming orders.
“We continue to strengthen our leadership in the authentication market as we actively integrate De La Rue Authentication Solutions with OpSec Security, and we remain confident in the growth opportunities ahead. We are accelerating the realization of operational synergies which we expect will drive significant margin expansion in the SAT segment in the coming years.”
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