Significant rise in export sales

State Printing House Plc. has realized increasing sales both on domestic and export markets in Q1-Q3 2006. The company’s net sales amounted to HUF 10.6 billion, exceeding the corresponding 2005 figure by 28%. Export sales increased by HUF 1 billion, which represents a more than fourfold, significant increase compared to the corresponding 2005 period.

State Printing House posted consolidated net sales of HUF 10.6 billion in Q1-Q3 2006 prepared according to IFRS, exceeding the corresponding 2005 figure by HUF 2.3 billion (28%). Export sales amounted to HUF 1,340 million, an increase of HUF 1,017 million compared to the corresponding 2005 figure. HUF 1,216 million worth of products were sold in the Company’s strategic target markets. We achieved substantial sales growth in Romania (+ HUF 622 million), Slovakia (+ HUF 151 million) and Poland (+ HUF 126 million). The share of exports within total sales rose to 12.6% in September 2006 from the 3.9% seen in Q1-Q3 2005.

Consolidated EBITDA reached HUF 1,242 million. If we disregard the impact of the HUF 60 million unrealized foreign exchange loss calculated during the balance sheet date revaluation in order to ensure the comparability of the two periods, EBITDA slightly exceeds the level of the corresponding 2005 figure. Consolidated operating income amounted to HUF 805 million, a drop of HUF 35 million compared to the prior year figure. Consolidated net profit after interest income, taxation and minority interest is HUF 669 million, which means a decrease of 33 million HUF compared to the corresponding 2005 period. The net profit adjusted with the foreign exchange loss is HUF 729 million, which exceeds the corresponding 2005 figure.

General Manager György Gyergyák commented: ‘The financial results of Állami Nyomda Group confirm the strategy of the company focusing on regional expansion. According to our objectives, the export sales of State Printing House are rising dynamically, its share within total sales exceeded 10% in Q1-Q3 2006. The increase in total sales of State Printing House is primarily attributed to the single item of the election ballot works and significantly to the increasing domestic and export sales of security products.’

ANY Interim report Q1-Q3 2006

For further information, please contact:

Mr Gábor Zsámboki, deputy general manager, sales and marketing
Phone: +36 1 431 1222