H1/24 profit exceeds Q1-Q3/23
ANY posted H1/24 results yesterday, AMC. The company reported impressive halfyearly revenues of HUF 34.8 bn, up +32.8% YoY. Net profit came in at HUF 3.8 bn,
which exceeds the profit of the first three quarters of 2023 (HUF 1.5 H1/23 and HUF 3.5
bn Q1-Q3/23). EPS for the first half of ’24 came in at of HUF 265, matching the amount
of the DPS paid after 2023 (HUF 261). Export revenues were boosted by strong Q1 while
Q2 was weaker due to the lack of milestone incomes for the quarter. HU municipality
and EP elections boosted revenues, while margins widened due to favourable product
mix, which we note might not be sustainable in H2/24.
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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