Consolidated operating income of State Printing House Plc increased by 16% to HUF 931 million in Q1-Q3 2007 compared to the corresponding period of the previous year. EBITDA margin rose by 2.6% to 14.3%. As a result of the portfolio adjustment, the two main product segments, the security products and the card production and personalization account for 60% of sales revenue.
Consolidated operating income of State Printing House Plc amounted to HUF 931 million, an increase of 16% compared to the prior year figure. Consolidated EBITDA reached HUF 1,386 million, a growth of HUF 12% million compared to Q1-Q3 2006 while the EBITDA margin rose by 2.6% to 14.3%. The Company posted consolidated net sales of HUF 9.7 billion, out of which the share of export is 10%, HUF 970 million. Due to the portfolio adjustment and the cost effectiveness programme, the material and personnel expenses has decreased while the ratio of higher value added product segments has continued to grow. The security products segment account for 40% of net sales with a growth of 8.8% while the card production and personalization comprise 20% of sales revenue with 0.5% growth.
The Company’s expectation for 2007, the earnings per share is above 750 HUF and the target is above 900 HUF in 2008.
General Manager György Gyergyák commented:
‘In Q3 2007, the key product segments, namely the innovation demanding security products and the card production and personalisation have continued to rise. Regarding the document personalization service, we also count on growth on the long term, as our expanded equipment qualifies the Company for this. As the time requirements for preparation and fulfilment of given projects are different, their sales revenue and result does not occur in regular periods, which makes it difficult to compare the quarters. The market studies and our experience prove that the security printing market of the region will continue to develop, so we carry on our research & development and acquisition activities.’
State Printing House Plc