ANY Security printing - Decent dividend after 2021 profit
Summary: On Tuesday afternoon, ANY reported a net income of HUF 3,607mn for 2021
vs. HUF 841mn a year earlier. As a result of the outstanding profit, the BoD proposes a
dividend of HUF 163 per share to the General Meeting. This translates into a gross
dividend yield of 10.4%.
The Company continued to operate stable and profitable despite the pandemic in 2021.
Overall, results were positively impacted by the huge interest for domestic card
documents and immunity certificates, while the export remained solid. Net sales of ANY
amounted to HUF 40.7bn which is higher by HUF 13.2 billion (48%) and export sales
amounted to HUF 14.3bn, which is higher by HUF 2,6bn compared to 2020, representing
35% export ratio. The sale of the Bulgarian unit also added an extra profit of HUF 499mn.
Key positives: decent pay-out; strengthened market position; technological improvements
at two plants; favourable volume outlook.
Key negatives: material costs rising; wage pressure due to inflation.
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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