Hungarian printing company Állami Nyomda's profits rose 23.4% to Ft 1.06 billion in 2006, increasing at about the same pace as revenue, the company said in its annual financial report, prepared with International Financial Reporting Standards (IFRS) and published on Monday.
Revenue rose 22.8% to Ft 14.19 billion. Revenue from sales of secure documents jumped 43.2% to Ft 4.75 billion because of tenders the company won in 2005. Revenue of Állami Nyomda's card and personal data division rose 25.4% to Ft 3.03 billion, and revenue from the document and personal data segment increased 19.6% to Ft 4.03 billion.
Conventional printing activities generated revenue of Ft 1.95 billion, 8.0% more than in 2005. Export sales rose 1.24 billion to Ft 1.8 billion, with the value of exports to Állami Nyomda's main markets - Poland, Romania, Bulgaria, Slovakia, the Czech Republic and Ukraine - exceeding Ft 1.56 billion. Exports of secure documents nearly quadrupled to Ft 734 million.
Exports accounted for 12.5% of total sales in 2006, compared to 4.6% one year earlier. Gross profit rose 20.9% to Ft 4.5 billion. Operating profit increased 25.6% to Ft 1.27 billion, and EBITDA rose 16.7% to Ft 1.85 billion. Állami Nyomda had financial losses of Ft 32 million. Állami Nyomda had total assets of Ft 7.01 billion on December 31, 2006, practically unchanged from twelve months earlier.
Net assets rose 8.1% to Ft 4.05 billion. Stock of long-term loans totaled Ft 318 million and stock of short-term loans came to Ft 428 million. Stock of cash was Ft 1.11 billion. The balance sheet included a bank guarantee worth Ft 381 million. (Bloomberg, Gazdasági Rádió – Privátbankár)