The Company which is free of loans and has stable cash generating ability is meeting its strategic goals in spite of the global crisis: State Printing House increased its sales revenue by 9% and its net income by 14% last year so it exceeded the HUF 90 EPS forecast published at the beginning of 2008.

Despite the economic crisis, State Printing House Plc posted net sales of HUF 14.6 billion and operating income of 1.6 billion in 2008. The latter means a growth of 13% compared to last year. EBITDA increased by 9% to HUF 2.2 billion compared to 2007. Besides the planned 15% EBITDA margin, the consolidated net income also grew by 14% to HUF 1.3 billion. As a result of the 2008 achievement, the Company’s earnings per share (EPS) amounted to HUF 91 which exceeds the previous forecast. The printing house could increase its sales revenue in every strategic product segment, especially in the product segments with high value added which play a major role due to portfolio adjustment: card production and personalization (+17%) and security products and solutions (+9%). Compared to a year earlier, export sales also rose slightly, its ratio compared to sales revenue amounts to 10%.

General Manager Gábor Zsámboki commented:
‘Our 2008 results confirm that due to our strategy, we have such products and solutions which ensure profitability under difficult economic and financial circumstances as well. Our developments are focused on products which represent effective and secure solutions for companies even in the time of economic difficulties so we are counting on stable profitability and effective operations in the future, too.’

State Printing House Plc