ANY Biztonsági Nyomda : IFRS Consolidated and Separate Financial Statements 2023

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED FINANCI AL STATEMENTS

FOR THE YEAR ENDED D ECEMBER 31, 2023

ANY Security Printing Company Public Limited Company by Shares

Consolidated Financial Statements

for the year ended December 31, 2023

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

1

ANY SECURITY PRINTIN G CO MPANY PLC .
CONSOLIDATED FINANCI AL STATEMENTS
FOR THE YEAR ENDED D ECEMBER 31, 2023
ANY Security Printing Company Public Limited Company by Shares
Audited Consolidated Financial Statements
December 31, 2023
Table of content
TABLE OF CONTENT	2
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31,
2023 AND DECEMBER 31, 2022	4
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME AS AT DECEMBER
31, 2023 AND DECEMBER 31, 2022	5
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS AT
DECEMBER 31, 2022 AND DECEMBER 31, 2021	6
CONSOLIDATED STATEMENT OF CASH-FLOW AS AT DECEMBER 31, 2023 AND
DECEMBER 31, 2022	7
SUPPLEMENTARY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
DEC. 31, 2023	8
1	GENERAL	8
2	SIGNIFICANT ACCOUNTING POLICIES	11
3	CASH AND BANK	23
4	ACCOUNTS RECEIVABLES	23
5	INVENTORIES	24
6	OTHER CURRENT ASSETS AND PREPAYMENTS	24
7	PROPERTY, PLANT AND EQUIPMENT	25
8	RIGHT OF USE ASSETS	26
9	GOODWILL	27
10	INTANGIBLES	29
	ANY SECURITY PRINTING COMPANY PLC
	Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116
	[phone] | [e-mail]| www.any.hu
		2

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED FINANCI AL STATEMENTS

FOR THE YEAR ENDED D ECEMBER 31, 2023

11	CONTRACTED LIABILITIES, OTHER PAYABLES TAX LIABILITIES,
GOVERNMENT GRANTS AND ACCRUALS	29
12	SHORT TERM AND LONG TERM LOANS	31
13	SHARE CAPITAL	31
14	TREASURY SHARES	31
15	RETAINED EARNINGS, NON-CONTROLLING INTEREST	31
16	NET SALES	32
17	OTHER EXPENSES, NET	34
18	INTEREST INCOME / EXPENDITURE	34

19 COST OF SALES AND SELLING GENERAL AND ADMINISTRATION COSTS 35

20	TAXATION	36
21	OTHER COMPREHENSIVE INCOME FOR THE YEAR	38
22	EARNINGS PER SHARE	38
23	CONTINGENT LIABILITIES AND PROVISIONS	38
24	SHORT TERM AND LONG TERM PART OF LEASE LIABILITIES	39
25	RELATED PARTY TRANSACTIONS	40
26	REMUNERATION OF THE MEMBERS OF THE SUPERVISORY BOARD AND
THE BOARD OF DIRECTORS	41
27	RISK MANAGEMENT	42
28	SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD	44

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

3

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED FINANCI AL STATEMENTS

FOR THE YEAR ENDED D ECEMBER 31, 2023

Consolidated Statement of Financial Position as at December 31, 2023 and December 31, 2022

	In HUF thousands:		Notes		December 31, 2023		December 31, 2022
	Current assets
	Cash and bank		3		6,056,275		6,393,330
	Accounts receivables		4		12,674,854		5,607,294
	Inventories		5		6,625,554		6,487,058
	Other current assets and prepayments		6		1,826,006		982,797
	(without current tax receivable)
	Current tax receivables		6		137,847		160,315
	Total current assets				27,320,536		19,630,794
	Non-current assets
	Property, plant and equipment		7		12,839,007		13,083,997
	Right of use		8		489,831		578,557
	Goodwill		9		639,352		569,823
	Intangibles		10		171,420		247,615
	Other assets				18,223		16,914
	Total non-current assets				14,157,833		14,496,906
	Total assets				41,478,369		34,127,700
	Current liabilities
	Trade accounts payables		27		5,908,538		4,326,200
	Short term part of lease liabilities		24		134,219		287,807
	Contracted liabilities		11		2,644,678		7,411,258
	Other payables and accruals (without	current tax	11		4,614,676		2,498,326
	liabilities)
	Current tax liabilities		11		1,687,520		1,142,542
	Short term loans		12		8,474,190		2,540,520
	Total current liabilities				23,463,821		18,206,653
	Long term liabilities
	Deferred tax liability		20		941,763		839,984
	Long term part of lease liabilities		24		104,886		112,396
	Long term loans		12		4,049,259		4,357,787
	Other long term liabilities				1,978		15,444
	Total long term liabilities				5,097,886		5,325,611
	Shareholders' equity
	Share capital		13		1,449,876		1,449,876
	Capital reserve				250,686		250,686
	Retained earnings		15		9,845,826		7,888,003
	Treasury shares		14		(455,048)	(455,048)
	Other comprehensive income		21		224,320		232,040
	Total owners' equity				11,315,660		9,365,557
	Non controlling interest		15		1,601,002		1,229,879
	Total shareholders' equity				12,916,662		10,595,436
Total liabilities and shareholders' equity				41,478,369		34,127,700

The Supplementary Notes are inseparable parts of the consolidated financial statements.

ANY SECURITY PRINTING COMPANY PLC Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

4

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED FINANCI AL STATEMENTS

FOR THE YEAR ENDED D ECEMBER 31, 2023

Consolidated Statement of Comprehensive Income as at December 31, 2023 and December 31, 2022

In HUF thousands:		Notes	FY 2023		FY 2022
Net sales		16	55,475,269	43,179,930
Cost of sales		19	(37,790,901)	(30,555,068)
Gross profit			17,684,368	12,624,862
Selling general and administration costs		19	(10,247,827)		(8,830,160)
Gain on sale of fixed assets			(133)		227
Foreign currency (loss) / gain			(178,195)		149,804
Other expense, net		17	(856,058)		(358,675)
Operating income			6,402,155	3,586,058
Interest income		18	158,677	45,994
Interest expense		18	(698,442)	(246,169)
Profit before tax and non-controlling interest			5,862,390	3,385,883
Deferred tax income / (expense)		20	(101,779)	(117,722)
Income tax expense		20	(1,062,974)	(573,862)
Total tax expense			(1,164,753)	(691,584)
Profit after tax			4,697,637	2,694,299
Other comprehensive income for the year		21	(65,291)	205,027
out of which: effect of revaluation based on	IAS		(65,291)		205,027
21*
Total comprehensive income for the year			4,632,346		2,899,326
Profit after tax attributable to
Shareholders of the Company			4,267,289		2,244,042
Non controlling interests			430,348	450,257
Other comprehensive income attributable to
Shareholders of the Company			(7,720)	137,933
Non controlling interests			(57,571)		67,094
Earnings per share (EPS):
Basic (HUF per share)		22	298	156
Fully diluted (HUF per share)		22	298	156
Dividend per share paid (DPS)			161	168

The Supplementary Notes are inseparable parts of the consolidated financial statements.

* In case of derecognition of a foreign subsidiary the relevant part will be reclassified to profit and loss.

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

5

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED FINANCI AL STATEMENTS

FOR THE YEAR ENDED D ECEMBER 31, 2023

Consolidated Statement of Changes in Shareholders' Equity as at December 31, 2022 and December 31, 2021

									Issued			Capital			Retained			Treasury			Other			Non
						Notes											comprehensive			controlling			Total
								Capital			Reserve			Earnings			Shares
																	income			Interest
	January	1,						1,449,876		250,686		8,054,043		(455,048)		94,107		1,048,010		10,441,674
	2022
	Dividend	paid
	(after	FY						-		-			(2,410,082)		-			-		-		(2,410,082)
	2021)
	Dividend	paid
	to	minority
	shareholders		15			-		-			-		-			-		(498,738)		(498,738)
	(after	FY
	2021
	income)
	Profit	after	tax
	attributable
	to	non-		15			-		-			-		-			-		450,257		450,257
	controlling
	interests
	Effect of
	revaluation		15			-		-			-		-			137,933		67,094		205,027
	based on
	IAS 21
	Changes
	connected to		15			-		-			-		-			-		163,256		163,256
	Atlas
	transaction
	Profit after tax
	attributable
	to owners of						-		-			2,244,042		-			-		-		2,244,042
	the
	Company
	December							1,449,876		250,686		7,888,003		(455,048)		232,040		1,229,879		10,595,436
	31,2022
	Dividend	paid
	(after	FY						-		-			(2,309,466)		-			-		-		(2,309,466)
	2022)
	Dividend	paid
	to	minority		15			-		-			-		-			-		(1,654)		(1,654)
	shareholders
	(after	FY
	2022
	Profit	after	tax
	attributable		15			-		-			-		-			-		430,348		430,348
	to	non-
	controlling
	Effect of
	revaluation		15			-		-			-		-			(7,720)		(57,571)		(65,291)
	based on
	IAS 21
	Profit after tax
	attributable						-		-			4,267,289		-			-		-		4,267,289
	to owners of
	the
	December							1,449,876		250,686		9,845,826		(455,048)		224,320		1,601,002		12,916,662
	31,2023

The Supplementary Notes are inseparable parts of the consolidated financial statements.

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

6

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED FINANCI AL STATEMENTS

FOR THE YEAR ENDED D ECEMBER 31, 2023

Consolidated Statement of Cash-flow as at December 31, 2023 and December 31, 2022

	In HUF thousands:		Notes		FY 2023	FY 2022
Cash flows from operating activities
	Profit before tax and non-controlling interest			5,862,390	3,385,883
	of which foreign currency (loss) / gain			(178,195)	149,804
	Effect of revaluation based on IAS 21			(65,291)	205,027
	Depreciation cost of fixed assets	7		2,296,323	1,962,562
	Amortization cost of intangibles	10		76,195	84,607
	Changes in provisions		17		483,055	78,012
	Gain on sale of property, plant and equipment			133	(2,906)
	Interest expense				698,442	246,169
	Interest income				(158,677)	(45,994)
	Operating	cash-flow	before working capital			9,192,570	5,913,360
changes:
	Changes in accounts receivable and other current	4,6		(7,915,575)	802,543
	assets
	Changes in inventories		5		(595,942)	(3,218,547)
	Changes	in accounts	payables, provision and	11		(617,199)	8,925,226
	accruals
	Cash provided by operating activities			63,854	12,422,582
	Interest paid				(617,624)	(224,054)
	Interest received				135,879	101,953
	Taxes paid, net		20		(1,038,509)	(591,855)
	Net cash provided by operating activities			(1,456,400)	11,708,626
Cash flows from investing activities
	Purchase of property, plant and equipment	7		(1,963,893)	(4,504,249)
	Gain on sale of property, plant and equipment			(133)	2,906
	Proceeds on sale of investments	9		-	(425,016)
	Changes in loans to employees			(1,309)	(4,658)
	Net cash flow used in investing activities			(1,965,335)	(4,931,017)
Cash flows from financing activities
	Non controlling interest changes			(71,182)	(498,738)
	Increase in short term loans	12		5,933,670	198,506
	Increase in long term debt	12		-	3,330,576
	Repayment of long term loans	12		(308,528)	(2,060,323)
	Increase of lease liabilities	24		139,661	96,630
	Repayment of lease liabilities	24		(299,475)	(338,356)
	Dividend paid				(2,309,466)	(2,410,081)
	Net cash flow used in financing activities			3,084,680	(1,681,786)
Changes in cash and cash equivalents			(337,055)	5,095,823
Cash and cash equivalents at beginning of period			6,393,330	1,297,507
Cash and cash equivalents at end of the period	3		6,056,275	6,393,330

The Supplementary Notes are inseparable parts of the consolidated financial statements.

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

7

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED NOTES F OR THE YEAR

ENDED DECEMBER 31, 2023

Supplementary Notes to the Consolidated Financial Statements Dec. 31, 2023

1 General

ANY Security Printing Company Public Limited Company by Shares (ANY PLC or the Company) is a limited liability company incorporated under the laws of the Republic of Hungary. The Company operated as a State enterprise until 1992 when it was transformed into a limited liability company (Rt.). The Company's registered office is located at Halom u.5, Budapest, District 10. The Company's webpage: www.any.hu.

The persons authorized to represent the Company, and to sign the annual report: Gábor Zsámboki,

CEO (Address: 1056 Budapest, Belgrád rakpart 21. IV/1.). The person responsible for the accounting

services registered in IFRS: Tamás Karakó, CFO (Address: 1112 Budapest, Őrség u. 9/B). The

auditor of the Company Deloitte Könyvvizsgáló és Tanácsadó Kft. (Address: 1068 Budapest, Dózsa

György út 84/C.), registered statutory auditor: Tamás Horváth (MKVK: 003449) (Address: 1028 Budapest, Bölény utca 16.). The audit fee in 2023 is HUF 39.1 million (HUF 31.2 million in 2022). Deloitte Üzletviteli és Vezetési Tanácsadó Zrt. provided advisory services to ANY Security Printing company Plc. in connection with taxation issues in the amount of 18,000 USD.

As of December 31, 2023 and 2022 - based on the Company's share book - the following owners have more than 5% voting right or the following groups of investors own the Company:

				FY 2023			FY 2022
	Investor			Voting right			Ownership			Voting right			Ownership
			(%)			(%)			(%)			(%)
	Owners above 5% share
	EG CAPITAL LLC(*)		11.98%		11.62%			11.98%		11.62%
	DIGITAL FOREST LLC(**)		7.11%		6.89%			6.97%		6.76%
	AEGON ALFA SZÁRMAZTATOTT		5.20%		5.04%			8.87%		8.60%
	ALAP
	Owners below 5% share
	Domestic Institutional Investors		30.15%		29.23%			28.94%		28.06%
	Foreign Institutional Investors		10.83%		10.50%			10.75%		10.42%
	Foreign Individual Investors		0.57%		0.55%			0.54%		0.52%
	Domestic Individual Investors		31.70%		30.75%			28.53%		27.66%
	Management, employees		1.46%		1.42%			2.42%		2.34%
	Treasury shares		0.00%		3.03%			0.00%		3.03%
	Other		1.00%		0.97%			1.00%		0.99%

1. The Chairman of the Board of Directors of ANY Security Printing Company PLC as owner of EG Capital LLC has a further indirect ownership through Fortunarum Kft.
   (**) Based on the AGM of March 31, 2014 the Tamás Erdős has been elected as a member of the Board of Directors of ANY Security Printing Company PLC has indirect ownership.

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

8

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED NOTES F OR THE YEAR

ENDED DECEMBER 31, 2023

The Group produces security products and solutions (tax stamps. stickers with security elements), plastic and paper cards (document cards. bank and telephone cards. as well as commercial cards), personalized business and administration forms, as well as conventional printing products.

The consolidated subsidiaries of the Group at December 31, 2023 and at December 31, 2022 are as follows. The parent company primarily examines ownership when investigating control over subsidiaries based on IFRS 3.

								FY 2023		FY 2022
			Place of
	Name of the		registratio			Share		Share of		Voting		Share of			Voting		Classificatio
		n and				ownershi			ownershi
	Company				capital			right 1				right 1		n 2
					p			p
		operation
Gyomai Kner				HUF
Hungary		200,000,00		99.48%		99.48%		99.48%		99.48%		L
Nyomda Zrt.
		0
						HUF			100.00				100.00
Specimen Zrt.	Hungary		100,000,00		100.00%			100.00%			L
			%			%
					0
Techno-Progress	Hungary			HUF	100.00%		100.00		100.00%		100.00		L
Kft.		5,000,000			%			%
ANY				HUF			100.00				100.00
Ingatlanhasznosít	Hungary			100.00%			100.00%			L
	3,000,000			%			%
ó Kft.
Zipper Services	Romania			RON	60.00%		60.00%		60.00%		60.00%		L
SRL		2,060,310
Tipo Direct Serv	Moldova			30.308 MDL	60.00%		60.00%		60.00%		60.00%		L
SRL
ATLAS Trade	Romania			RON 1,000	60.00%		60.00%		60.00%		60.00%		L
Distrib. SRL
Slovak Direct	Slovakia			EUR 63,965	100.00%		100.00		100.00%		100.00		L
SRO				%			%

1. Voting rights that entitle the holder to participate in decision making at the general meeting of the company included in consolidation.
2. Fully controlled subsidiaries (L); Joint ventures (K); Associated undertakings (T)

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

9

ANY SECURITY PRINTIN G CO MPANY PLC .

CONSOLIDATED NOTES F OR THE YEAR

ENDED DECEMBER 31, 2023

		ESEF information
Homepage of parent company:		www.any.hu
LEI code of parent company:		529900YYR637SPJ0JR59
Name of parent company:		ANY Security Printing Company Plc.
Domicile of parent company:		Hungary
Legal form of parent company:		Public Limited Company by Shares
Country of incorporation:		Hungary
Address of parent company's		H-1102, Budapest, Halom street 5., Hungary
registered office:
Principal place of business:		H-1102, Budapest, Halom street 5., Hungary
		The Group produces security products and solutions (tax stamp,
Description of nature of parent		stickers with security elements), plastic and paper cards
company's operation and principal		(document cards, bank and telephone cards, as well as
activities:		commercial cards), personalized business and administration
		forms, as well as conventional printing products.

ANY SECURITY PRINTING COMPANY PLC

Halom utca 5, Budapest 1102, Hungary | 1475 Budapest. Pf.: 116 [phone] | [e-mail]| www.any.hu

10