AUSTRIACARD HOLDINGS AG Reports Strong Financial Performance in FY 2023

AUSTRIACARD HOLDINGS AG (ACAG) has posted its financial results for the fiscal year 2023, showcasing a significant growth in revenue and profitability. The company announced a 13.2% increase in adjusted revenues, reaching €351.3 million. This growth was predominantly driven by the Secure Chip & Payments sector, Digital Transformation Solutions in Central Eastern Europe, and the consolidation of Romanian postal activities. Furthermore, the company saw its adjusted EBITDA rise by 27.2% to €49.3 million, and a remarkable increase of 220.9% in net income, totaling €17.0 million.

ACAG's CEO, Manolis Kontos, highlighted the year as transformative, marked by a successful listing on both the Vienna and Athens exchanges, and a strategic reorganization focused on geographical clusters to facilitate expansion. Additionally, the company completed a significant refinancing, enhancing financial flexibility to pursue further growth.

The company's performance in the Central Eastern Europe & DACH regions was notably robust, with adjusted revenues there increasing by 35.2% to €224.6 million and adjusted EBITDA by 166.8%, reaching €30.3 million. Despite flat revenues in Western Europe, Nordics & Americas, the company remains optimistic about its prospects in the US market. Meanwhile, the performance in the Türkiye, Middle East & Africa segment showcased resilience, with adjusted revenues growing by 76.0% and adjusted EBITDA by 68.1%, excluding the comparative effect of the Kenyan elections.

To express gratitude towards its shareholders following a year as a listed company, ACAG plans to propose a dividend of €0.10 per share at the upcoming AGM. The company also extended warm wishes to Panagiotis Spyropoulos, the departed Group CEO, acknowledging his significant contributions to the company's expansion.