European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank17

Hungary · Industrials

ANY Biztonsagi Nyomda

Provides secure personal identification, product identification, data logistics, barcodes, documents and printed transactional mail.

+73%revenue growth
FY2022–FY2025
+295%net-income growth
FY2022–FY2025
+486%stock return
FY2022–FY2025
−1%2026 stock return
current context only

Company profile

Security documents, identity systems and verification technology

ANY Security Printing Company Plc is a Budapest-listed security-printing and identity-systems group. It combines passports, electronic identity and payment cards, tax stamps, secure forms and proprietary inks with personalisation, verification, mobile identity and project integration. Its 2025 international consolidation perimeter spans Hungary, Romania, Slovakia, Moldova and the United States; the U.S. subsidiary had no operational activity in 2025. Current programme references include Hungary and Angola. In 2025, group revenue reached HUF 71.9 billion and 60% came from exports.

Government identity

End-to-end national document programmes

ANY sells governments an end-to-end issuance chain: consulting, secure ID1-ID3 and biometric passport production, laser and chip personalisation, and mobile verification. In Hungary, its consortium has a nine-year contract through 2030 covering passports, eIDs, driving and vehicle documents, civil certificates and additional services, capped at HUF 115 billion. In Angola, a EUR 130 million ten-year programme includes biometric enrolment, booklet design and production, local personalisation and services.

Document security

Materials matched to field readers

ANY's Document Security Laboratory develops what printing alone cannot provide: polyamide or viscose security fibres, luminescent shiny dots and UV, IR, anti-Stokes and quadro-fluorescent inks. Its field tools connect those materials to authentication workflows. RadIR+ mini reads hidden infrared codes; ANYscan records label lifecycle, geolocation and status; VerifIR checks customer-specific inks; TrueFace compares a portrait with encrypted document data offline.

Cards and digital identity

Credentials beyond the printed surface

Financial products join certified production with software and fulfilment. ANY's Visa- and Mastercard-certified centre produces and personalises contactless and dual-interface cards, can load transport, loyalty and e-banking applications, then envelope and mail them. Digital Citizen stores multiple credentials with biometric identification, two-factor authentication and device-to-device 3D-QR verification. Separate Document Checker software supports offline biometric checks, while the VLQR phygital code carries public and restricted data.

Group boundary

A listed parent with an international consolidation perimeter

ANY Security Printing Company Plc is the Budapest-listed parent. Its 2025 annual-report perimeter comprises ten subsidiaries: four in Hungary, two each in Romania and Moldova, one in Slovakia and, from October 2025, 51%-owned Superior ANY Global in the United States. The U.S. subsidiary had no operational activity in 2025. Net sales were HUF 71.9 billion and exports 60%; geography reporting showed Africa at HUF 20.1 billion, Romania HUF 14.7 billion and Iraq HUF 4.6 billion. Subsidiary facts remain attributed to the group.

Current 2026 update

What is changing at ANY Biztonsagi Nyomda in 2026?

ANY is connecting three stages of identity infrastructure: a passport concept and mobile identity are being shown together; an election framework has moved into parliamentary ballot printing and logistics; and Angola is moving from a system build toward document supply and maintenance. H1 shows how the wider product mix changes after project peaks.

Latest official evidence H1 product-mix and export update Published 14 August 2026

The change in one sentence

Security-printing projects are becoming reusable products, logistics and service relationships.

The stages matter: an award is not a customer contract; parliamentary ballot printing and logistics do not prove completion or follow-on election work; and H1 product-mix data does not disclose Angola's service revenue separately.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · Physical plus digital identity

A passport concept, laser personalisation and mobile identity share one stand

At ID4Africa 2026, ANY presented its Collaborative Sample Passport, which the issuer says won the Best New House Passport 2026 award, alongside live laser card personalisation and Digital Citizen. ANY describes the mobile product as secure, user-controlled identity with 3DQR, biometric identification, multiple credentials, multi-layer access, dynamic lifecycle management and offline control. The showcase links secure document design, issuance and phone-based verification, but ANY does not disclose a customer contract resulting from the award or event.

  • Current signalPassport award · live laser personalisation · Digital Citizen demonstration
  • Why it mattersANY is presenting physical issuance and digital verification as one government-identity workflow rather than as unrelated print and software products.
  • 2026 identity showcase ANY Security Printing Company · 2026-05-12

02 · Election operations

A multi-event framework has moved into parliamentary ballot operations

The National Election Office's framework has a maximum net value of HUF 2.94 billion and covers secure forms and related services for the 2026 parliamentary election, interim local, national and ethnic-minority elections, and local referendums. Delivery can extend to domestic polling stations, diplomatic missions and postal voters. In Q1, ANY said it printed parliamentary-election ballots and managed the associated logistics. The framework ceiling is not disclosed election revenue, and neither the parliamentary work nor later event scope is described as completed.

  • Current signalHUF 2.94bn maximum framework · parliamentary ballot printing and logistics performed
  • Why it mattersThe mandate makes document security operational: anti-forgery production, last-mile distribution and multiple voter channels have to work as one national system.
  • 2026 election-services framework ANY Security Printing Company · 2025-12-17
  • Q1 project and election update ANY Security Printing Company · 2026-05-18

03 · From project peak to repeat work

Angola moves toward service while forms and data processing gain weight

ANY says prior-year development revenue from Angola's biometric-passport system did not recur and that the next ten-year-framework tasks are document delivery and system maintenance, expected by the issuer to generate continuous net sales. H1 does not isolate that service revenue. Across the group, form production, personalisation and data processing rose 23.81%, and the export part of that category rose 26.24%; Q2 revenue increased 5.1%, with HUF 7.9 billion of exports. The report attributes neither Q2 growth nor category growth specifically to Angola service work.

  • Current signalQ2 revenue +5.1% · export forms and data processing +26.24% in H1
  • Why it mattersThe operating question is whether repeat production, logistics, data work and maintenance can smooth the revenue gaps left by large implementation and card-project peaks.
  • H1 product-mix report ANY Security Printing Company · 2026-08-14
  • Q1 project and election update ANY Security Printing Company · 2026-05-18

04 · What to watch

Three questions for the next disclosures

Three questions track the conversion of recognition, a framework and an installed system into disclosed repeat business.

  • Identity conversionDoes the passport concept or Digital Citizen convert into a disclosed government identity programme?
  • Election follow-onWhich interim elections or referendums trigger work under the framework after the parliamentary ballot work?
  • Repeat-business mixDoes ANY disclose Angola service revenue, and do export forms, data processing and Q2 recovery persist?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202517+73%+295%+486%