Budapest, 27 February 2008 – State Printing House Plc increased earnings per share (EPS) in 2007 by 10% to HUF 785 compared to a year earlier. Due to the effectiveness increasing programme announced in 2006, operating income rose by 10%, EBITDA margin amounted to almost 15% in accordance with strategic objectives.
Operating income of State Printing House amounted to HUF 1,391 million in 2007, an increase of 10% compared to the prior year figure. EBITDA exceeded HUF 2,000 million and reached HUF 2,004 million, a growth of HUF 157 million compared to 2006. Due to the outstanding sales revenue of parliamentary election forms in 2006 and the 2007 portfolio adjustment, the Company’s net sales decreased by only 5%. The Company could make up for 50% of the missing sales revenue with sales of higher value added products. As a result of portfolio adjustment, the two most important product segments, security products and card production and personalization already account for 64% of sales revenue. Exports amounted to HUF 1,382 million, 10% of total sales.
General Manager György Gyergyák commented:
‘To reach the strategic objectives, we decided over effectiveness increasing and portfolio adjustment measures in 2007. As a result, State Printing House reached the highest profit of its history this year: HUF 785 EPS which exceeds the expectations. The Group performed well in 2007 not only in Hungary but in Slovakia, Romania and Bulgaria as well. The Company laid the groundwork for further effective growth in 2007. In the future, it will continue its strategy which focuses on IT supported products using the results of R&D activity and regional expansion, acquisitions.’
State Printing House Plc