ANY Security Printing - Sales soared, FY profit well on track - Instant Earnings Comment from Concorde Ltd. [Hungary]
ANY published its 3Q18 earnings yesterday, AMC. Net sales soared 18% YoY to HUF 7.4bn in 3Q mainly due to outstanding security product segment. Reported EBITDA amounted to HUF 881mn, up by 17% YoY, EBIT also jumped 23% YoY to HUF 601mn due to higher volume of security products, card sales and accounting changes that is financially neutral in net profit terms. More importantly, net income came in at HUF 332mn, up by 5% YoY in 3Q. Quarterly EPS of HUF 23 has strengthened our vision in that ANY to pay more dividend to shareholders for 2018 than a year ago. Good operating results, however, allow the Company to finance its new work hall by own cash-flow and it could also cool down investors’ concerns over future outlook.
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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