ANY Security Printing - Co. Showed Strength Pre-COVID19, Export Soared
 ANY Security Printing reported Q1/20 earnings (POS)
 ANY Security Printing reported a net profit of HUF 292mn for Q1/20, down 7% YoY. Revenues fall 6% or HUF 0.5bn to HUF 7bn in the reported quarter, predominantly driven by lower sales of security products, partly offset by higher sales of international card production and personalization. Export sales accounted for roughly 44% of total, amounted to HUF 3.1 bn (+15% YoY). EBITDA rose by 4% YoY to HUF 784mn, but EBIT came in at HUF 427mn, c4% lower compared with Q1/19. CEO told that ANY will survive and emerge stronger from the crisis. Shortly after the outbreak of the COVID-19 pandemic, ANY introduced a couple of measures to mitigate the financial risks. Due to the crisis, revenues from documents decreased in Hungary, but the Co. reduced costs and preserved jobs. In parallel, production has begun at the new plant which will create value in the future, while export has managed to increase during the difficult period. ANY has also borrowed around HUF 750mn to strengthen its liquidity position. In addition, the Co. is in talks with its creditors to convert its short-term borrowings to long-term loans. ANY also gained from the depreciation of HUF.
Any Security Printing is a securities products group based in Hungary. Co. produces security products and solutions (tax stamps. stickers with security elements), plastic and paper cards (document cards, bank and telephone cards, commercial cards), personalized business and administration forms, and conventional printing products. Co.'s product offering its organized along three segments: Security Products, Solutions (paper-based documents, excise and tax stamps, security printers and security inks, additives); Card Production, Personalization (document cards, bank cards and loyalty cards); and Form Production, Personalization (transactional mailing, business, lottery and election forms).
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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