State Printing House Plc has performed above the industry average in Q1-Q2, and could increase significantly its export sales.

State Printing House Plc has achieved HUF 7.1 billion sales revenue in Q1-Q2 2009 which is almost the same as the corresponding figure of the previous period, in spite of the fact that the Hungarian printing market is forecasted to decrease by 15-20%*. Export sales rose significantly and exceeded HUF 1 billion which equals to 15% of total sales. The HUF 1 billion EBITDA also rose compared to Q1-Q2 2008 while EBITDA margin increased from 14% to 14.5%. Operating income totalled HUF 695 million, net income came to HUF 573 million. According to the Company’s strategy, high value added products and solutions like card production and personalization and form production, personalization and data processing product segments increased. The performance of both product segments significantly contributed to the fact that State Printing House Plc can keep its performance like before the crisis in spite of the continuous decline in international printing industry.

Chief Executive Officer Gábor Zsámboki commented:
‘While most of the security printing industry competitors are on the decrease and the Hungarian printing industry suffers from bankruptcies and cut-backs, State Printing House has performed well again. Due to the conscious product portfolio management, our developments and long-term contracts, we can repeat our 2008 performance and we will be a in a good position for growth in the future.’

State Printing House Plc