State Printing House has finished a strong first half year in 2008. Sales revenue exceeded the prior year figure by 9%. Furthermore, net income rose more dynamically by 20% compared to Q1-Q2 2007. Sales revenue of the card production and personalization product segment increased by 28% year-on-year.

State Printing House posted net sales of HUF 7.3 billion in Q1-Q2 2008 which exceeded the corresponding 2007 figure by 9%. Net income rose even more to HUF 625 million, a growth of 20% compared to last year’s similar period. EBITDA reached HUF 1,023 million, an increase of 9% compared to Q1-Q2 2007. According to the announced strategy, sales of higher value added segments containing information security also increased. The card production and personalization rose by 28% while security products and solutions increased by 7%. The ratio of these two strategic product segments is 62.5% compared to total net sales.

General Manager Gábor Zsámboki commented:
‘According to our expectation, we have finished a successful quarter. The processes started last year – portfolio adjustment, effectiveness increasing – are delivering more and more results so we hope that we can realize our annual and strategic concepts in spite of the negative world market trends. We trust that besides the Q1-Q2 successes, and the EPS exceeding HUF 90 at the end of the year, the planned acquisition will also contribute to the increase in the price of our currently underpriced shares.’

State Printing House Plc