EQS-News: AUSTRIACARD HOLDINGS AG: Press Release H1 2026 Financial Results
EQS-News: AUSTRIACARD HOLDINGS AG: Press Release H1 2026 Financial Results
EQS-News: AUSTRIACARD HOLDINGS AG / Key word(s): Half Year Results
AUSTRIACARD HOLDINGS AG: Press Release H1 2026 Financial Results
26.08.2026 / 18:44 CET/CEST
The issuer is solely responsible for the content of this announcement.
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H1 2026: growth momentum returns as guided, with y-o-y revenue growth
accelerating to +20% in Q2
Digital Technologies and Identity & Payment solutions drive broad-based
growth across all three geographic segments
96.55% of AUSTRIACARD’s shareholders accepted DNP’s offer; the Offer remains
subject to the outstanding FDI clearance from the competent Austrian
authorities before becoming unconditionally binding
• Group Revenues of €186.6m (14% increase vs. H1 2025), with Digital
Technologies and Identity & Payment solutions the key growth drivers,
while WEST and MEA regional segments were the clear outperformers. Q2
2026 Group Revenues increased 20% vs. Q2 2025, backed by the accelerated
implementation of large-scale, public sector digitization projects in
Greece (Digital Technologies) and growth momentum in Identity & Payment
solutions.
• Digital Technologies (+93% vs. H1 2025), supported by the accelerated
implementation of large-scale, public sector digitization projects in
Greece (approx. €14m revenue increase vs. H1 2025). Identity & Payment
solutions (+13% vs. H1 2025) anchored by strong growth from Fintech
clients in the WEST segment and citizen authentication solutions in the
MEA segment.
• EBITDA of €19.4m (10% increase vs. H1 2025), supported by revenue
growth. Group EBITDA margin contracted by 40bps vs. H1 2025 to 10.4%
burdened by higher 3^rd party (outsourced) costs for the Greek public
sector digitization projects, margin pressure in Document Lifecycle
Management solutions, especially in the Romanian market, and
extraordinary expenses incurred for the settlement of the legacy
management participation program 2022-2025 (SOP) and the ongoing
takeover offer from DNP. Excluding all extraordinary expenses related to
the accounting effects of the SOP settlement and current LTI plan as
well as the takeover offer from DNP, Group EBITDA reached €21.9m,
implying a 14% like-for-like increase vs. H1 2025, in-line with reported
revenue growth.
• Net Profit of €5.8m (135% increase vs. H1 2025), driven by EBIT growth
(+22% vs. H1 2025) and one-off €2.2m gain from the sale of a 25%
minority stake in SEGLAN S.L.
• Operating Cash Flow of €9.3m outflow in H1 2026 was adversely impacted
by a cash outflow related to the SOP settlement and especially by the
working capital build-up (€26m operating cash flow impact), largely on
account of higher Contract Assets and Trade & Other Receivables.
Contract assets increased due to the public sector digitization projects
in Greece and the Identity & Payment contract assets in CEE and MEA.
Trade receivables increased on the back of invoicing Greek public sector
digitization projects and Identity solutions projects in MEA. The
increase in Other receivables is largely attributed to VAT claims and
deferred expenses.
• Group Net Debt reached €103.9m (vs. €81.6m in FY2025), as the aforesaid
working capital build up is funded by a combination of cash and debt
drawdown. Group Leverage (Net Debt / EBITDA) at 2.1x, improved vs. 2.3x
in H1 2025.
• 2026 Outlook & revised Management guidance: Management remains focused
on execution in H2 2026, supported by a strong order backlog and
sustained solid demand across the Group’s core businesses. Management
revises upward its FY2026 Group Revenue growth target vs. 2025 to
low-double-digit, from the high-single-digit growth target communicated
at the beginning of the year. Revenue growth in H2 2026 is expected to
be primarily driven by sustained solid growth from Fintech customers in
both Western Europe and the United States, as well as by secure document
printing orders and Identity solutions in Africa. At the same time,
Management now expects FY2026 Group EBITDA margin to contract vs. 2025,
compared to the margin expansion it had previously anticipated at the
beginning of the year. This reflects margin pressure in Document
Lifecycle Management solutions in CEE and lower average selling prices
for banking cards in both CEE and Türkiye, amid heightened market
competition and persistent macroeconomic volatility and uncertainty. In
addition, the Group FY2026 EBITDA is expected to be burdened by
additional, non-budgeted costs, currently estimated at approx. €6m in
total, associated with the takeover offer from DNP, the resulting
change-of-control event and the settlement of the legacy management
participation program 2022–2025. Based on the aforesaid factors,
Management currently expects Group FY2026 reported EBITDA to marginally
decline vs. 2025, despite the anticipated low double-digit revenue
growth. Finally, Management currently expects FY2026 Group Operating
Cash Flow to remain broadly unchanged vs. 2025.
• Dai Nippon Printing Co., Ltd. (“DNP”) Voluntary Takeover Offer: On 13
May 2026, DNP announced its intention to launch a voluntary public
takeover offer for all outstanding shares of AUSTRIACARD HOLDINGS AG
(the “Offer”) at a cash consideration of €10.00 per share. The Offer
Document was published on 12 June 2026, while on 19 June 2026, the
Management Board and Supervisory Board published their reasoned
statements and recommended that the Company’s shareholders accept the
Offer. The Offer Acceptance Period commenced on 12 June 2026 and it was
completed on 21 August 2026 with approx. 96.55% of shareholders
accepting the Offer. The Offer is subject to the Conditions Precedent
set out in Section 4.1 of the Offer Document, which have not been
entirely fulfilled (FDI clearance from the competent authorities in
Austria is still outstanding). Therefore, at the time of publication of
the Results Press Release, the Offer has not become unconditionally
binding. In accordance with the Austrian Takeover Act, an Additional
Acceptance Period of 3 months, addressed to all shareholders who did not
accept the Offer, commenced on 26 August 2026 and expires on 26 November
2026 at 17:00 Vienna local time / 18:00 Athens local time. Moreover, DNP
announced its intention to pursue a squeeze-out in accordance with the
provisions of the Austrian Squeeze-out Act, subject to the fulfilment of
the remaining Condition Precedent, which will ultimately lead to the
delisting of AUSTRIACARD shares from both the VSE and Euronext Athens.
August 26, 2026 – AUSTRIACARD HOLDINGS AG (ACAG), the international applied
technology group headquartered in Vienna, announces its H1 2026 financial
results.
Manolis Kontos, Chairman of the Management Board and Group CEO, commented:
“H1 2026 confirms what we committed to at the start of the year: the return
to growth momentum is continuing beyond a single quarter. Revenue growth
accelerated in the second quarter, with all three geographic segments
contributing and Digital Technologies and Identity & Payment solutions
leading the performance. The strategic choices of recent years — the markets
we entered, the capabilities we built, the customer relationships we
deepened — are showing up in the numbers, with a breadth and consistency
that gives us confidence in the trajectory ahead.
At the same time, the full year profitability outlook is expected to develop
differently from the revenue trajectory. Competitive pricing in banking
cards across parts of CEE and Türkiye, combined with the structural
evolution of Document Lifecycle Management solutions toward digital
delivery, are creating pressure on margins. We are addressing these factors
through continued growth in Digital Technologies, holistic Citizen Identity
services and Fintech-focused Payment solutions, while maintaining a
disciplined focus on execution and the quality of our business mix.
Additionally, the DNP offer process and the settlement of the legacy
management participation program will add non-recurring costs in 2026, the
cash impact of which will be largely offset by the significant working
capital improvement we anticipate in the second half of the year. These are
the headwinds we are managing; the underlying direction of the business
remains clear.
The results achieved in the first half of the year reflect work carried out
over several years: building teams and capabilities, expanding into new
markets and developing long-term client relationships. We are seeing Digital
Technologies move from pilot projects to larger-scale deployments, Identity
solutions in MEA develop into recurring revenue opportunities, and continued
growth from Fintech and neobank customers in the UK and the United States.
With the acceptance period of the DNP offer now completed, AUSTRIACARD
remains focused on the fulfilment of the outstanding condition precedent.
Subject to the fulfilment of the pending condition precedent and the
completion of the transaction, the proposed combination with DNP is
anticipated to bring complementary geographic footprints, capabilities and
client relationships across Europe, Asia, the United States and the Middle
East. As stated in the Public Offer documentation, DNP has indicated its
intention to support the continued development of the Group’s strategy. We
remain focused on serving our clients, supporting our people and executing
on the opportunities ahead.“
GROUP PERFORMANCE HIGHLIGHTS
Group P&L | Highlights H1 2026 H1 2025 % chg
in € million
Revenues 186.6 163.6 +14%
EBITDA 19.4 17.7 +10%
EBITDA margin 10.4% 10.8% -0.4%
Profit/(Loss) before tax 7.8 3.8 +104%
Profit/(Loss) 5.8 2.5 +135%
Profit/(Loss) attributable to Company owners 5.0 1.4 +271%
in € million Q2 2026 Q2 2025 % chg
Revenues 97.1 81.1 +20%
EBITDA 7.9 7.3 +9%
EBITDA margin 8.2% 9.0% -0.8%
Profit/(Loss) before tax 2.5 0.4 +513%
Profit/(Loss) 1.7 (0.1) n/m
Profit/(Loss) attributable to Company owners 1.5 (0.6) n/m
Group Financial Position | Highlights 30/06/2026 31/12/2025
in € million
Cash & cash equivalents 10.0 25.1
Total Assets 348.2 327.8
Total Equity 130.7 135.9
Net Debt 103.9 81.6
Total Liabilities 217.5 191.8
Group Revenues
Group Revenues increased 14% vs. H1 2025 to €186.6m, on the back of the
following key drivers:
• Digital Technologies +93% vs. H1 2025, supported by the accelerated
implementation of large-scale, public sector digitization projects in
Greece (approx. €14m marginal revenue contribution vs. H1 2025), which
have been in full implementation mode since Q3 2025.
• Identity & Payment solutions +13% vs. H1 2025, anchored by Payment
solutions (+11% vs. H1 2025), on the back of strong growth from the
Group’s Fintech clients (particularly UK and US-based clients) as well
as by Identity solutions (+33% vs. H1 2025), on account of the Group’s
business development in the MEA segment.
From a geographic segment perspective, solid revenue growth was reported
across all 3 segments, with MEA (+26% vs. H1 2025) and WEST (+23% vs. H1
2025) the clear outperformers. Worth highlighting that the annual revenue
growth in Q2 2026 across all 3 regional segments has accelerated pace
compared to Q1 2026.
Revenues by Segment H1 2026 H1 2025 €m chg % chg
in € million
Central Eastern Europe & DACH (CEE) 111.5 104.0 7.5 +7%
Western Europe, Nordics, Americas (WEST) 67.3 54.7 12.6 +23%
Türkiye / Middle East and Africa (MEA) 20.5 16.3 4.2 +26%
Eliminations & Corporate (12.7) (11.3) 1.4 +12%
Total 186.6 163.6 22.9 +14%
in € million Q2 2026 Q2 2025 €m chg % chg
Central Eastern Europe & DACH (CEE) 58.0 52.3 5.7 +11%
Western Europe, Nordics, Americas (WEST) 32.7 26.0 6.7 +26%
Türkiye / Middle East and Africa (MEA) 12.7 8.7 4.0 +45%
Eliminations & Corporate (6.2) (6.0) 0.2 +3%
Total 97.1 81.1 16.1 +20%
Please refer to pages 15-17 and 24-25 in the Appendix for a detailed
analysis of the Group Segments.
Central Eastern Europe & DACH (CEE)
Revenues in the segment increased by 7% vs. H1 2025 to €111.5m, with Digital
Technologies (+91% vs. H1 2025 to €28.3m), the single largest revenue growth
driver in the CEE segment, anchored by the accelerated implementation of
large-scale, public sector digitization projects in Greece (approx. €14m
revenue increase vs. H1 2025). On the other hand, the unfavourable base
effect from H1 2025 related to payment card renewals in the Romanian market
and e-health cards in Austria, more than offset the relatively solid
performance in Payment solutions, resulting in a 2% decline vs. H1 2025 in
Identity & Payment solutions revenues. Moreover, Document Lifecycle
Management revenues (-11% vs. H1 2025) were adversely impacted by the
continued secular volume contraction in postal services in Romania and the
printing business in both Romania and Greece, in the context of the broader
trends of digitization of client communication.
Identity & Payment solutions accounted for 39% of CEE segment total revenues
(€44m revenues) followed closely by Document Lifecycle Management (€39m
revenues or 35% of CEE segment total). The aforesaid strong growth in
Digital Technologies has increased its share to 25% of CEE segment total
(vs. 14% in H1 2025).
Western Europe, Nordics, Americas (WEST)
Revenues in the segment posted another strong performance, growing 23% vs.
H1 2025 to €67.3m, anchored by sustained strong growth in Payment solutions
(+23% vs. H1 2025), on the back of the Group’s growing business with UK and
US-based Fintech clients.
Worth highlighting the continued strong performance of the Group’s US
operations (€15m revenues, +35% vs. H1 2025) with distribution services of
personalized cards (fulfillment), metal cards and card personalization the
key drivers. Similarly, the WEST segment’s UK-based clients reported strong
growth (+36% vs. H1 2025), reflecting the Group’s successful strategy to
focus on the fast-growing segments of Fintech and neobanks.
Türkiye, Middle East and Africa (MEA)
Revenues in the segment registered the largest growth (+26% vs. H1 2025)
among the Group’s geographic segments, amounting to €20.5m. The strong
performance was driven by (i) Identity solutions (approx. €5m revenue
increase vs. H1 2025), reflecting the Group’s successful business
development in offering citizen authentication solutions in various
jurisdictions, (ii) Document Lifecycle Management (€0.6m revenue increase
vs. H1 2025), particularly on account of a secure document printing order
related to a national elections project in an East African country and (iii)
Digital Technologies (€0.5m revenue increase vs. H1 2025), thanks to a first
large-scale order for the implementation of the GaiaB™ Appliance in the UAE.
The growth in the aforesaid solutions more than offset headwinds related to
the continued normalization of the Turkish payment card market (€1.5m
revenue decline vs. H1 2025). These headwinds are associated with the
persistent macroeconomic volatility and uncertainty, together with
cyclicality and continued normalization in customer stock levels, following
high levels of paid stock after several years of substantial growth.
Revenues by Solution^1 H1 2026 H1 2025 €m chg % chg
in € million
Identity & Payment 117.6 104.1 13.4 +13%
Document Lifecycle Management 39.8 44.4 (4.5) -10%
Digital Technologies 29.1 15.1 14.0 +93%
Total 186.6 163.6 22.9 +14%
in € million Q2 2026 Q2 2025 €m chg % chg
Identity & Payment 61.0 51.4 9.6 +19%
Document Lifecycle Management 20.2 21.8 (1.6) -7%
Digital Technologies 15.9 7.9 8.0 +102%
Total 97.1 81.1 16.1 +20%
1. Please note (as per the relevant note included in the Q1 2026 Results
Press Release) the reclassification of revenues related to the distribution
services of personalized cards (fulfillment) from Document Lifecycle
Management into Identity & Payment solutions. This reclassification now
accurately reflects revenues related to the Group’s Payment solutions.
Identity & Payment
Revenues reported a robust 13% increase vs. H1 2025 to €117.6m, supported by
solid growth on both pillars. Worth highlighting that the y-o-y revenue
growth accelerated significantly in Q2 2026 (+19% vs. +7% in Q1 2026).
Payment solutions revenues increased 11% vs. H1 2025, on the back of:
• Solid revenue growth across card issuance and personalization as well as
in distribution services of personalized cards (fulfillment).
• The Group’s total volume of sold cards increased 14% vs. H1 2025 to
63.7m cards. Worth highlighting that the annual growth in the volume of
sold cards accelerated significantly in Q2 2026 (+19% vs. +9% in Q1
2026).
• WEST segment was the key growth driver (+23% vs. H1 2025), supported by
strong growth in UK and US-based Fintech clients, more than offsetting
headwinds in MEA, related to the ongoing normalization of the Turkish
payment card market, and in CEE (-3% vs. H1 2025), due to the
unfavourable base effect in H1 2025 from the payment card renewals in
the Romanian market and e-health cards in Austria.
• The Group’s activities in the US delivered another strong performance,
with revenues increasing 35% vs. H1 2025, anchored by significant growth
across distribution services of personalized cards (fulfillment) (+41%
vs. H1 2025), metal cards (+83% vs. H1 2025) and card personalization
(+19% vs. H1 2025).
Identity solutions revenues increased 33% vs. H1 2025, reflecting the
Group’s successful business development in offering citizen authentication
solutions in various jurisdictions of the MEA segment.
Document Lifecycle Management
Revenues registered a 10% decline vs. H1 2025 to €39.8m, adversely impacted
by the continued secular volume contraction of the postal and printing
business in Romania and Greece, since corporate and institutional clients
continue the migration of transactional communications (e.g. statements,
bills etc) to electronic delivery channels.
Nevertheless, revenues related to document output (printing and secure
printing) in the MEA segment increased approx. 4x vs. H1 2025 (approx. €0.6m
revenue increase vs. H1 2025), reflecting the Group’s successful business
development strategy of pursuing targeted initiatives and opportunities in
complex, digital secure printing initiatives for public administrations in
select African markets.
Digital Technologies
Revenues almost doubled vs. H1 2025 to €29.1m, largely on account of the
accelerated implementation of large-scale, public sector digitization
projects in Greece (approx. €14m revenue increase vs. H1 2025). H1 2026
Revenues from public sector digitization projects in Greece reached approx.
€20m in total. Until 30/06/2026, the Group had been awarded (both directly
and indirectly) public sector digitization projects in Greece worth in total
approx. €73.5m, of which approx. €55.5m has been cumulatively
received/recognized (from 2023 until end-June 2026), with the remaining
amount of approx. €18m to be recognized from Q3 2026 onwards.
Furthermore, the roll-out of the Group’s proprietary generative AI solution
for the automation of business processes and operations, GaiaB™ Appliance,
is gaining initial traction. The Group announced in April 2026 the formation
of a strategic alliance with MDS SI Technology & Security Solutions (MDS SI
TSS), a subsidiary of the MDS SI Group, the preeminent technological leader
across the Middle East, Eastern Europe and Africa. MDS SI TSS will assume
the pivotal role of Value-Added Reseller and Systems Integrator for the
GaiaB™ Appliance in the United Arab Emirates (UAE). As part of this
strategic alliance, a first large-scale order for the implementation of the
GaiaB™ Appliance in the UAE was received generating €0.6m revenues in H1
2026.
Revenues by Solution
% of Group Total
H1 2025 H1 2026
Group Gross Profit H1 2026 H1 2025 €m chg % chg
in € million
Gross profit I 85.7 76.9 8.9 +12%
Gross profit I margin 45.9% 47.0% -1.0%
Gross profit II 41.9 36.8 5.1 +14%
Gross profit II margin 22.4% 22.5% 0.0%
in € million Q2 2026 Q2 2025 €m chg % chg
Gross profit I 42.6 37.6 5.0 +13%
Gross profit I margin 43.9% 46.4% -2.5%
Gross profit II 20.4 17.2 3.1 +18%
Gross profit II margin 21.0% 21.3% -0.3%
Gross profit I increased 12% vs. H1 2025, supported by revenue growth (+14%
vs. H1 2025). The Gross Profit I margin contracted by 1 percentage point to
45.9%, burdened by higher outsourcing costs for the accelerated
implementation of the public sector digitization projects in Greece and
margin pressure in Document Lifecycle solutions, especially in the Romanian
market.
Gross profit II increased 14% vs. H1 2025, in-line with revenue growth, as
economies of scale in production compensated for the Gross profit I margin
contraction. That said the Gross profit II margin remained virtually
unchanged to 22.4%.
Group Operating Expenses (OPEX) H1 2026 H1 2025 €m chg % chg
in € million
Production costs (43.8) (40.1) 3.7 +9%
Selling and distribution expenses (12.5) (11.1) 1.4 +13%
Administrative expenses (16.7) (14.7) 2.1 +14%
R&D expenses (5.1) (4.6) 0.5 +11%
+ Depreciation, amortization & impairment 9.5 9.6 (0.1) -1%
Total (68.6) (60.8) 7.8 +13%
as % of Revenues 36.8% 37.2%
in € million Q2 2026 Q2 2025 €m chg % chg
Production costs (22.3) (20.4) 1.9 +9%
Selling and distribution expenses (6.6) (5.6) 0.9 +17%
Administrative expenses (9.5) (7.6) 2.0 +26%
R&D expenses (2.6) (2.2) 0.3 +16%
+ Depreciation, amortization & impairment 4.7 4.8 (0.1) -3%
Total (36.3) (30.9) 5.3 +17%
as % of Revenues 37.3% 38.2%
Group OPEX (excluding depreciation, amortization & impairment) increased 13%
vs. H1 2025 to €68.6m. The OPEX increase is mainly attributed to:
(i) higher production costs (+9% vs. H1 2025), associated with the business
growth in Payment solutions in WEST and in Digital Technologies solutions in
CEE (particularly the public sector digitization projects in Greece),
(ii) higher SG&A and R&D expenses (+13% vs. H1 2025), driven by continued
efforts to strengthen the Group’s management, sales and R&D teams as well as
by an approx. €1m increase in costs associated with the settlement of the
legacy management participation program 2022-2025, the accounting valuation
effects of the current LTI plan and the ongoing takeover offer from DNP.
Group Operating Profitability H1 2026 H1 2025 €m chg % chg
in € million
EBITDA 19.4 17.7 1.8 +10%
EBITDA margin 10.4% 10.8% -0.4%
EBIT 9.9 8.1 1.8 +22%
EBIT margin 5.3% 4.9% +0.4%
in € million Q2 2026 Q2 2025 €m chg % chg
EBITDA 7.9 7.3 0.6 +9%
EBITDA margin 8.2% 9.0% -0.8%
EBIT 3.2 2.5 0.8 +32%
EBIT margin 3.3% 3.0% +0.3%
Group EBITDA increased 10% vs. H1 2025 to €19.4m with the Group EBITDA
margin contracting by 0.4 percentage points to 10.4%. Excluding all costs
related to the accounting effects of the legacy management participation
program 2022-2025 and the current LTI plan as well as those associated with
the DNP takeover offer, Group EBITDA amounted to €21.9m vs. €19.3m
like-for-like in H1 2025, implying a 14% increase vs. H1 2025, in line with
reported revenue growth.
Group EBIT increased 22% vs. H1 2025 to €9.9m, driven by the EBITDA growth
and marginally lower depreciation & amortization expenses (-1% vs. H1 2025).
Group EBIT margin widened by some 0.4 percentage points to 5.3%.
Group Net Results H1 2026 H1 2025 €m chg % chg
in € million
Profit/(Loss) before tax 7.8 3.8 4.0 +104%
Profit/(Loss) 5.8 2.5 3.3 +135%
Profit/(Loss) attributable to Company Owners 5.0 1.4 3.7 +271%
EPS (basic) (€) 0.14 0.04 +270%
in € million Q2 2026 Q2 2025 €m chg % chg
Profit/(Loss) before tax 2.5 0.4 2.1 +513%
Profit/(Loss) 1.7 (0.1) 1.8 n/m
Profit/(Loss) attributable to Company Owners 1.5 (0.6) 2.2 n/m
EPS (basic) (€) 0.04 (0.02) n/m
Group Net Profit more than doubled vs. H1 2025 to €5.8m, supported by:
• EBIT growth (+22% vs. H1 2025)
• One-off €2.2m gain related to the sale of a 25% minority stake in SEGLAN
S.L. (SPA signed on 7 April)
Group P&L H1 2026 H1 2025 €m chg % chg
in € million
Revenues 186.6 163.6 22.9 +14%
Costs of material & mailing (100.8) (86.8) 14.1 +16%
Gross profit I 85.7 76.9 8.9 +12%
Gross profit I margin 45.9% 47.0% -1.0%
Production costs (43.8) (40.1) 3.7 +9%
Gross profit II 41.9 36.8 5.1 +14%
Gross profit II margin 22.4% 22.5% 0.0%
Other income 2.9 2.5 0.4 +17%
Selling and distribution expenses (12.5) (11.1) 1.4 +13%
Administrative expenses (16.7) (14.7) 2.1 +14%
R&D expenses (5.1) (4.6) 0.5 +11%
Other expenses (0.6) (0.8) (0.2) -30%
+ Depreciation, amortization & impairment 9.5 9.6 (0.1) -1%
EBITDA 19.4 17.7 1.8 +10%
EBITDA margin 10.4% 10.8% -0.4%
– Depreciation, amortization & impairment (9.5) (9.6) (0.1) -1%
EBIT 9.9 8.1 1.8 +22%
EBIT margin 5.3% 4.9% +0.4%
Financial income 0.3 0.2 0.0 +17%
Financial expenses (4.5) (4.5) (0.1) -1%
Result from associated companies 2.2 0.1 2.1 n/m
Net finance costs (2.1) (4.3) (2.2) -51%
Profit/(Loss) before tax 7.8 3.8 4.0 +104%
Income tax expense (2.0) (1.4) 0.6 +47%
Profit/(Loss) 5.8 2.5 3.3 +135%
Group P&L Q2 2026 Q2 2025 €m chg % chg
in € million
Revenues 97.1 81.1 16.1 +20%
Costs of material & mailing (54.5) (43.5) 11.1 +25%
Gross profit I 42.6 37.6 5.0 +13%
Gross profit I margin 43.9% 46.4% -2.5%
Production costs (22.3) (20.4) 1.9 +9%
Gross profit II 20.4 17.2 3.1 +18%
Gross profit II margin 21.0% 21.3% -0.3%
Other income 1.8 1.3 0.6 +43%
Selling and distribution expenses (6.6) (5.6) 0.9 +17%
Administrative expenses (9.5) (7.6) 2.0 +26%
R&D expenses (2.6) (2.2) 0.3 +16%
Other expenses (0.3) (0.7) (0.4) -58%
+ Depreciation, amortization & impairment 4.7 4.8 (0.1) -3%
EBITDA 7.9 7.3 0.6 +9%
EBITDA margin 8.2% 9.0% -0.8%
– Depreciation, amortization & impairment (4.7) (4.8) (0.1) -3%
EBIT 3.2 2.5 0.8 +32%
EBIT margin 3.3% 3.0% +0.3%
Financial income 0.1 0.1 0.0 +57%
Financial expenses (2.8) (2.2) 0.6 +27%
Result from associated companies 2.0 0.1 1.9 n/m
Net finance costs (0.7) (2.0) (1.3) -65%
Profit/(Loss) before tax 2.5 0.4 2.1 +513%
Income tax expense (0.8) (0.5) 0.3 +68%
Profit/(Loss) 1.7 (0.1) 1.8 n/m
GROUP FINANCIAL POSITION
Statement of financial position 30/06/2026 31/12/2025 €m chg % chg
in € million
Non-current assets 161.4 159.0 2.4 +1%
Current assets 186.8 168.7 18.1 +11%
Total Assets 348.2 327.8 20.4 +6%
Total Equity 130.7 135.9 (5.3) -4%
Non-current liabilities 114.6 106.8 7.8 +7%
Current Liabilities 102.9 85.0 17.9 +21%
Total Equity and Liabilities 348.2 327.8 20.4 +6%
Total Assets as of 30/06/2026 reached €348.2m (+6% vs. 31/12/2025).
• Non-current assets marginally increased (+1%) vs. 31/12/2025 to €161.4m.
• Current assets increased by some €18m vs. 31/12/2025 to €186.8m, largely
on account of higher Contract assets and Trade & Other Receivables.
Contract assets increased due to the public sector digitization projects
in Greece (invoiced upon project completion) and the Identity & Payment
solutions contract assets in CEE and MEA. Trade receivables increased on
the back of invoicing of the public sector digitization projects in
Greece and Identity solutions in MEA. The increase in other receivables
is largely attributed to VAT claims and deferred expenses.
Total Liabilities as of 30/06/2026 reached €217.5m.
• Non-current liabilities increased by approx. €8m vs. 31/12/2025 to
€114.6m, primarily on account of an increased utilization of available
credit facilities to finance the working capital build-up.
• Current liabilities increased by approx. €18m vs. 31/12/2025 to €102.9m,
due to a reclassification of reserves (€8.6m) from equity to other
payables associated with the settlement of the legacy management
participation program as well as due to higher Trade Payables.
Net Working Capital 30/06/2026 31/12/2025 €m chg % chg
in € million
Inventories 64.2 67.1 (2.9) -4%
Contract assets 38.1 28.8 9.2 +32%
Current income tax assets 1.3 0.8 0.5 +63%
Trade receivables 50.2 37.9 12.3 +32%
Other receivables 23.1 9.0 14.1 +157%
Assets 176.8 143.6 33.2 +23%
Current income tax liabilities (3.9) (3.0) 0.9 +29%
Trade payables (48.5) (41.1) 7.3 +18%
Other payables (25.5) (17.8) 7.8 +44%
Contract liabilities (8.9) (6.3) 2.7 +43%
Deferred income (0.8) (1.2) (0.4) -35%
Liabilities (87.6) (69.4) 18.2 +26%
Net Working Capital 89.2 74.2 15.0 +20%
% of Revenues (12 months rolling) 23.3% 20.6%
Net Working Capital: the €15m increase (+20%) vs. 31/12/2025 to €89.2m is
predominantly attributed to:
• Trade & Other receivables (€26m increase in aggregate), associated with
the public sector digitization projects in Greece, Identity solutions in
MEA and VAT claims.
• Contract assets (€9m increase), related to the public sector
digitization projects in Greece, which are invoiced upon project
completion, as well as to Identity & Payment solutions contract assets
in CEE and MEA.
Overall, based on the aforesaid drivers, the increase in Net Working Capital
as % of Revenues is largely attributed to project billing timing (i.e.
increased capital tied up in project execution) and revenue mix effects,
rather than any structural weakening in the underlying working capital
management. Worth highlighting that on 30/06/2026 Contract Assets worth of
approx. €18m (48% of Group Contract Assets) related to the contracted public
sector digitization projects in Greece, which are expected to be invoiced
and converted into cash upon completion. That said, Management anticipates a
substantial improvement on the Working Capital front in H2 2026, supported
by the aforesaid contract assets conversion into billings and cash
collection, upon project completion, a continued inventory decline, the
positive effects from the Group’s renegotiation of its contractual
purchasing obligations with key suppliers in the summer of 2025 (reduced
purchase obligations and improved purchase prices) as well as by the
collection of the aforesaid VAT claims, which have burdened other
receivables in H1 2026.
Net Debt 30/06/2026 31/12/2025 €m chg % chg
in € million
Cash and cash equivalents (A) 10.0 25.1 (15.1) -60%
Loans and borrowings (B) 113.9 106.8 7.2 +7%
Net Debt (B) – (A) 103.9 81.6 22.3 +27%
Group Net Debt increased by €22m vs. 31/12/2025 to €103.9m, as the aforesaid
working capital increase is being funded by a combination of cash and debt
(approx. €7m increase in Loans & borrowings).
Group Leverage (Net Debt / EBITDA) reached 2.1x, vs. 1.7x in FY2025 and 2.3x
in H1 2025, reflecting the aforesaid increase in Net Debt.
Financial Position | Key Metrics 30/06/2026 31/12/2025 30/06/2025
Total Equity / Total Assets (Equity Ratio) 37.5% 41.5% 38.5%
Net Debt / EBITDA (12 months rolling) (x) 2.1 1.7 2.3
Total Equity as of 30/06/2026 amounted to €130.7m, a 4% decline vs.
31/12/2025, on account of an €8.6m reclassification from equity (other
reserves) into other payables, which more than offset the net profit
generation in the period. This reclassification of equity reserves to other
payables relates to the decision to settle the legacy management
participation program 2022-2025 – previously classified and accounted for as
an equity-settled program – partially in equity (transfer of own shares) and
in cash.
The Group’s Equity Ratio (Total Equity divided by Total Assets) as of
30/06/2026 reached 37.5%, from 41.5% on 31/12/2025, on account of the
aforesaid reduction in Equity.
Statement of cash flows H1 2026 H1 2025 €m chg % chg
in € million
Cash flows from operating activities (9.3) 10.4 (19.7) n/m
Cash flows from investing activities (7.7) (5.5) 2.2 +40%
Cash flows from financing activities 2.1 (9.2) 11.2 n/m
Net increase/(decrease) in cash (15.0) (4.3) (10.7) n/m
and cash equivalents
Cash flows from operating activities resulted in €9.3m net outflow, burdened
by a sizeable increase in cash flow changes in working capital (€26m cash
consumption in H1 2026 vs. €7m in H1 2025) as well as by the payout of the
first cash settlement (€2.6m) of the legacy management participation program
2022-2025.
Cash flows from investing activities resulted in €7.7m net outflow, a 40%
increase vs. H1 2025, incorporating:
• €2.6m total proceeds (stake sale and dividend received) related to the
minority stake sale in SEGLAN S.L.
• €6.7m investments in PP&E that support the Group’s business growth,
associated with investments in additional machinery for the delivery of
large-scale secure printing projects in MEA as well as to the 2^nd
personalization center in the US (Salt Lake City, Utah).
• €3.8m investments for in-house software development, aimed at enhancing
the Payment (ACOS and personalisation systems) and Digital Technologies
solutions (GaiaB, CaaS, data capture platform).
The Group’s total CAPEX (including Right-of-Use assets) in H1 2026 reached
€12.3m (+56% vs. H1 2025).
Cash flows from financing activities resulted in €2.1m net inflow,
incorporating €13.3m in loan drawdowns, which more than offset repayments
for both loans and finance leases totaling €8.0m and interest expenses
(€3.1m).
Non-Financial Performance Indicators H1 2026 H1 2025 chg % chg
Number of sold cards (million) 63.7 55.7 8.0 +14%
Average number of employees (FTE) 2,165 2,115 49 +2%
Group Headcount (end-of-period) 2,536 2,379 157 +7%
Dai Nippon Printing Co., Ltd. voluntary public takeover offer
On 13 May 2026, Dai Nippon Printing Co., Ltd. („DNP“) announced its
intention to launch a voluntary public takeover offer for all outstanding
shares of AUSTRIACARD HOLDINGS AG (the “Offer”) at a cash consideration of
EUR 10.00 per share. The Offer Document was published on 12 June 2026, while
on 19 June 2026, the Company’s Management Board and Supervisory Board
published their reasoned statements and recommended that the Company’s
shareholders accept the Offer.
The Offer Acceptance Period commenced on 12 June 2026 and was completed on
21 August 2026 (a total period of ten weeks), with approx. 96.55% of
shareholders accepting the Offer (a total of 35,099,096 shares were tendered
for sale into the Offer). According to the Austrian Takeover Act, an
Additional Acceptance Period, addressed to all shareholders who did not
accept the Offer, commenced on 26 August 2026 and expires on 26 November
2026 at 17:00 Vienna local time / 18:00 Athens local time.
The Offer is subject to the Conditions Precedent set out in Section 4.1 of
the Offer Document. At the time of publication of the Results Press Release,
the Conditions Precedent have not been entirely fulfilled (FDI clearance
from the competent authorities in Austria is still outstanding). Therefore,
at the time of publication of the Results Press Release, the Offer has not
become unconditionally binding.
Moreover, together with the Acceptance period results, DNP also announced
its intention to pursue a squeeze-out in accordance with the provisions of
the Austrian Squeeze-out Act and subject to the fulfilment of the pending
Condition Precedent (FDI clearance by the Austrian authorities), which will
ultimately lead to the delisting of AUSTRIACARD shares from both the VSE and
Euronext Athens.
SEGMENTS REPORTING
Central Eastern Europe & DACH (CEE)
Segment performance H1 2026 H1 2025 €m chg % chg
in € million
Revenues 111.5 104.0 7.5 +7%
Costs of material & mailing (64.1) (56.2) 7.8 +14%
Gross profit I 47.4 47.7 (0.3) -1%
Gross profit I margin 42.6% 45.9% -3.4%
Production costs (26.3) (25.1) 1.2 +5%
Gross profit II 21.1 22.6 (1.5) -6%
Gross profit II margin 19.0% 21.7% -2.8%
Other income 2.4 2.4 0.0 0%
Selling and distribution expenses (6.6) (6.3) 0.2 +4%
Administrative expenses (8.7) (8.3) 0.4 +5%
R&D expenses (4.1) (3.9) 0.2 +5%
Other expenses (0.3) (0.7) (0.4) -62%
+ Depreciation, amortization & impairment 5.8 5.8 0.0 0%
EBITDA 9.8 11.6 (1.8) -16%
EBITDA margin 8.8% 11.2% -2.4%
– Depreciation, amortization & impairment (5.8) (5.8) 0.0 0%
EBIT 4.0 5.8 (1.8) -32%
EBIT margin 3.6% 5.6% -2.0%
Operating expenses (OPEX)
excl. Depreciation, amortization & impairment H1 2026 H1 2025 €m chg % chg
in € million
Production costs (26.3) (25.1) 1.2 +5%
Selling and distribution expenses (6.6) (6.3) 0.2 +4%
Administrative expenses (8.7) (8.3) 0.4 +5%
R&D expenses (4.1) (3.9) 0.2 +5%
+ Depreciation, amortization & impairment 5.8 5.8 0.0 0%
Total (39.8) (37.8) 2.0 +5%
as % of Revenues 35.7% 36.3%
Western Europe, Nordics, Americas (WEST)
Segment performance H1 2026 H1 2025 €m chg % chg
in € million
Revenues 67.3 54.7 12.6 +23%
Costs of material & mailing (34.8) (29.5) 5.3 +18%
Gross profit I 32.5 25.2 7.3 +29%
Gross profit I margin 48.3% 46.0% +2.3%
Production costs (13.7) (12.0) 1.8 +15%
Gross profit II 18.7 13.2 5.5 +42%
Gross profit II margin 27.9% 24.1% +3.7%
Other income 0.4 0.0 0.4 n/m
Selling and distribution expenses (4.9) (4.1) 0.8 +20%
Administrative expenses (4.8) (4.0) 0.8 +21%
R&D expenses (0.3) (0.3) (0.0) -7%
Other expenses (0.3) (0.1) 0.2 +333%
+ Depreciation, amortization & impairment 3.3 3.4 (0.1) -3%
EBITDA 12.1 8.2 3.9 +48%
EBITDA margin 18.0% 15.0% +3.1%
– Depreciation, amortization & impairment (3.3) (3.4) (0.1) -3%
EBIT 8.9 4.8 4.1 +84%
EBIT margin 13.2% 8.8% +4.4%
Operating expenses (OPEX)
excl. Depreciation, amortization & impairment H1 2026 H1 2025 €m chg % chg
in € million
Production costs (13.7) (12.0) 1.8 +15%
Selling and distribution expenses (4.9) (4.1) 0.8 +20%
Administrative expenses (4.8) (4.0) 0.8 +21%
R&D expenses (0.3) (0.3) 0.0 -7%
+ Depreciation, amortization & impairment 3.3 3.4 (0.1) -3%
Total (20.5) (16.9) 3.5 +21%
as % of Revenues 30.4% 31.0%
Türkiye / Middle East and Africa (MEA)
Segment performance H1 2026 H1 2025 €m chg % chg
in € million
Revenues 20.5 16.3 4.2 +26%
Costs of material & mailing (13.5) (11.7) 1.9 +16%
Gross profit I 7.0 4.7 2.4 +51%
Gross profit I margin 34.1% 28.5% +5.6%
Production costs (3.8) (3.0) 0.8 +27%
Gross profit II 3.2 1.7 1.5 +93%
Gross profit II margin 15.6% 10.1% +5.4%
Other income 0.0 0.0 0.0 n/m
Selling and distribution expenses (1.0) (0.7) 0.3 +44%
Administrative expenses (1.1) (0.5) 0.6 +110%
R&D expenses (0.4) (0.3) 0.1 +22%
Other expenses (0.0) (0.0) (0.0) -4%
+ Depreciation, amortization & impairment 0.4 0.4 0.0 +2%
EBITDA 1.1 0.5 0.6 +124%
EBITDA margin 5.5% 3.1% +2.4%
– Depreciation. amortization & impairment (0.4) (0.4) 0.0 +2%
EBIT 0.7 0.1 0.6 +534%
EBIT margin 3.5% 0.7% +2.8%
Operating expenses (OPEX)
excl. Depreciation. amortization & impairment H1 2026 H1 2025 €m chg % chg
in € million
Production costs (3.8) (3.0) 0.8 +27%
Selling and distribution expenses (1.0) (0.7) 0.3 +44%
Administrative expenses (1.1) (0.5) 0.6 +110%
R&D expenses (0.4) (0.3) 0.1 +22%
+ Depreciation. amortization & impairment 0.4 0.4 0.0 +2%
Total (5.9) (4.1) 1.7 +42%
as % of Revenues 28.6% 25.4%
The full Interim Financial Report of AUSTRIACARD HOLDINGS AG for the period
from January 1 to June 30, 2026, excerpts of which were used in this H1 2026
Results Press Release, is available on the Company’s website
[1] https://www.austriacard.com/investor-relations-ac/financial-reporting-ac/
Conference call H1 2026 Financial Results
AUSTRIACARD HOLDINGS AG Management will host a conference call and live
webcast to present the H1 2026 Financial Results.
Date Thursday, 27^th August 2026
Time 15:00 (GR)
14:00 (CET)
13:00 (UK)
08:00 (EST)
Duration The conference call is expected to last approximately
60 minutes, followed by Q&A
Live Conference Call Greece
+30 213 009 6000 or +30 210 946 0800
Austria
+43 720 816 079
Germany
+49 (0) 800 588 9310
UK
+44 (0) 800 368 1063
USA
+1 516 447 5632
International
+44 (0) 203 059 5872
Live Webcast Real-time webcast (audio only) on the Internet:
[2]LIVE WEBCAST
ABOUT AUSTRIACARD HOLDINGS AG
AUSTRIACARD HOLDINGS AG leverages over 130 years of experience in
information management, printing, and communications to deliver secure and
transparent experiences for its customers. They offer a comprehensive suite
of products and services, including payment solutions, identification
solutions, smart cards, card personalization, digitization solutions, and
secure data management. ACAG employs a global workforce of 2,360 people and
is publicly traded on both the Euronext Athens and Vienna Stock Exchanges
under the symbol ACAG.
Contact person: Mr. Dimitris Haralabopoulos, Group IR Director
E-Mail: [3]investors@austriacard.com
Tel (AT): +43 1 61065 357
Tel (GR): +30 210 669 78 60
Website: [4] www.austriacard.com
Symbol: ACAG
ISIN: AT0000A325L0
Stock Exchanges: Vienna Prime Market (VSE), Euronext Athens Main Market
(ATHEX)
APPENDIX
A. CONSOLIDATED FINANCIAL STATEMENTS
Consolidated statement of financial position 30 June 2026 31 December 2025
in € thousand
Assets
Property, plant and equipment and right of use 98,144 96,022
assets
Intangible assets and goodwill 57,859 57,609
Equity-accounted investees 0 423
Other receivables 1,081 1,098
Deferred tax assets 4,294 3,865
Non-current assets 161,378 159,016
Inventories 64,212 67,124
Contract assets 38,060 28,824
Current income tax assets 1,260 771
Trade receivables 50,191 37,930
Other receivables 23,069 8,959
Cash and cash equivalents 10,027 25,139
Current assets 186,818 168,748
Total assets 348,196 327,764
Equity
Share capital 36,354 36,354
Share premium 32,749 32,749
Own shares 0 (2,584)
Other reserves 2,011 18,232
Retained earnings 55,330 47,512
Equity attributable to owners of the Company 126,444 132,263
Non-controlling interests 4,226 3,671
Total Equity 130,670 135,934
Liabilities
Loans and borrowings 98,616 91,117
Employee benefits 4,296 3,612
Other payables 1,471 1,573
Deferred tax liabilities 10,258 10,505
Non-current liabilities 114,640 106,807
Current tax liabilities 3,879 3,012
Loans and borrowings 15,308 15,644
Trade payables 48,461 41,124
Other payables 25,528 17,765
Contract liabilities 8,916 6,254
Deferred income 793 1,224
Current Liabilities 102,886 85,023
Total Liabilities 217,526 191,830
Total Equity and Liabilities 348,196 327,764
Consolidated income statement (IFRS) H1 2026 H1 2025
in € thousand
Revenues 186,550 163,621
Cost of sales (144,679) (126,854)
Gross profit 41,871 36,766
Other income 2,901 2,482
Selling and distribution expenses (12,487) (11,087)
Administrative expenses (16,746) (14,682)
R&D expenses (5,057) (4,563)
Other expenses (584) (834)
+ Depreciation, amortization & impairment 9,524 9,587
EBITDA 19,422 17,671
– Depreciation, amortization & impairment (9,524) (9,587)
EBIT 9,898 8,083
Financial income 263 224
Financial expenses (4,489) (4,545)
Result from associated companies 2,150 70
Net finance costs (2,076) (4,251)
Profit/(Loss) before tax 7,822 3,833
Income tax expense (2,000) (1,357)
Profit/(Loss) 5,822 2,476
Profit/(Loss) attributable to:
Owners of the Company 5,046 1,361
Non-controlling interests 776 1,114
Profit/(Loss) 5,822 2,476
Earnings/(loss) per share
basic 0.14 0.04
diluted 0.14 0.04
Consolidated income statement (IFRS) Q2 2026 Q2 2025
in € thousand
Revenues 97,141 81,055
Cost of sales (76,788) (63,821)
Gross profit 20,353 17,234
Other income 1,848 1,290
Selling and distribution expenses (6,566) (5,618)
Administrative expenses (9,522) (7,551)
R&D expenses (2,592) (2,243)
Other expenses (276) (654)
+ Depreciation, amortization & impairment 4,676 4,814
EBITDA 7,921 7,272
– Depreciation, amortization & impairment (4,676) (4,814)
EBIT 3,245 2,458
Financial income 129 82
Financial expenses (2,792) (2,197)
Result from associated companies 1,950 70
Net finance costs (713) (2,045)
Profit/(Loss) before tax 2,533 413
Income tax expense (838) (497)
Profit/(Loss) 1,695 (84)
Profit/(Loss) attributable to:
Owners of the Company 1,539 (628)
Non-controlling interests 156 544
Profit/(Loss) 1,695 (84)
Earnings/(loss) per share
basic 0.04 (0.02)
diluted 0.04 (0.02)
Consolidated statement of cash flows H1 2026 H1 2025
in € thousand
Cash flows from operating activities
Profit/(Loss) before tax 7,822 3,833
Adjustments for:
-Depreciation, amortization & impairment 9,524 9,587
-Net finance costs 2,076 4,251
-Other non-cash transactions 39 187
-Cash settlement of Management participation program (2,585) 0
16,877 17,858
Changes in:
-Inventories 2,913 4,375
-Contract assets (9,236) (5,873)
-Trade and other receivables (26,370) 7,818
-Contract liabilities 2,662 3,285
-Trade and other payables 6,138 (14,079)
-Taxes paid (2,318) (2,994)
Net cash from/(used in) operating activities (9,335) 10,391
Cash flows from investment activities
Interest received 200 219
Proceeds from sale of property, plant and equipment 0 995
Proceeds from sale of investments 2,250 0
Dividends received from associated companies 323 42
Payments for acquisition of property, plant and equipment (10,453) (6,756)
& intangible assets
Net cash from/(used in) investing activities (7,679) (5,500)
Cash flows from financing activities
Interest paid (3,115) (3,565)
Proceeds from loans and borrowings 13,342 5,420
Repayment of loans and borrowings (5,800) (8,222)
Payment of lease liabilities (2,178) (2,143)
Acquisition of own shares 0 (520)
Dividends paid to non-controlling interest (190) 10
Acquisition of non-controlling interest 0 (156)
Net cash from/(used in) financing activities 2,058 (9,176)
Net increase/(decrease) in cash and cash equivalents (14,956) (4,285)
Cash and cash equivalents at 1 January 25,139 21,737
Effect of movements in exchange rates on cash held (157) (727)
Cash and cash equivalents at 30 June 10,027 16,726
B. SEGMENT REPORTING
H1 2026 CEE WEST MEA Corporate Eliminations Total
in € thousand
Revenues 100,715 65,591 20,244 0 0 186,550
Intersegment 10,781 1,662 298 2,921 (15,662) 0
revenues
Segment revenues 111,497 67,252 20,542 2,921 (15,662) 186,550
Costs of
material & (64,051) (34,793) (13,536) 0 11,534 (100,846)
mailing
Gross profit I 47,446 32,459 7,006 2,921 (4,127) 85,704
Production costs (26,300) (13,729) (3,810) 0 6 (43,833)
Gross profit II 21,146 18,730 3,196 2,921 (4,121) 41,871
Other income 2,401 417 0 1 82 2,901
Selling and
distribution (6,568) (4,902) (974) (53) 10 (12,487)
expenses
Administrative (8,657) (4,793) (1,058) (6,064) 3,827 (16,746)
expenses
R&D expenses (4,077) (280) (427) (467) 194 (5,057)
Other expenses (279) (291) (10) (12) 8 (584)
+ Depreciation,
amortization 5,848 3,253 394 29 0 9,524
& impairment
EBITDA 9,813 12,133 1,120 (3,645) 0 19,422
– Depreciation,
amortization (5,848) (3,253) (394) (29) 0 (9,524)
& impairment
EBIT 3,965 8,881 727 (3,674) 0 9,898
Financial income 263
Financial (4,489)
expenses
Result from
associated 2,150
companies
Net finance (2,076)
costs
Profit/(Loss) 7,822
before tax
Income tax (2,000)
expense
Profit/(Loss) 5,822
H1 2025 CEE WEST MEA Corporate Eliminations Total
in € thousand
Revenues 95,878 51,452 16,290 0 0 163,621
Intersegment 8,080 3,232 24 1,876 (13,213) 0
revenues
Segment revenues 103,959 54,684 16,314 1,876 (13,213) 163,621
Costs of material (56,230) (29,526) (11,663) 0 10,652 (86,767)
& mailing
Gross profit I 47,729 25,158 4,652 1,876 (2,561) 76,854
Production costs (25,131) (11,959) (2,998) 0 0 (40,088)
Gross profit II 22,598 13,199 1,654 1,876 (2,561) 36,766
Other income 2,395 38 0 49 0 2,482
Selling and
distribution (6,326) (4,085) (675) 0 0 (11,087)
expenses
Administrative (8,253) (3,956) (505) (4,520) 2,552 (14,682)
expenses
R&D expenses (3,884) (300) (350) (29) 0 (4,563)
Other expenses (729) (67) (10) (37) 9 (834)
+ Depreciation,
amortization 5,823 3,364 385 15 0 9,587
& impairment
EBITDA 11,623 8,192 500 (2,645) 0 17,671
– Depreciation,
amortization (5,823) (3,364) (385) (15) 0 (9,587)
& impairment
EBIT 5,800 4,829 115 (2,660) 0 8,083
Financial income 224
Financial (4,545)
expenses
Result from
associated 70
companies
Net finance costs (4,251)
Profit/(Loss) 3,833
before tax
Income tax (1,357)
expense
Profit/(Loss) 2,476
Reclassification of Revenues by Solution
From Q1 2026 onwards revenues associated with Identity & Payment solutions
include revenues related to the distribution services of personalized cards
(fulfillment), which were previously classified within Document Lifecycle
Management. This reclassification accurately reflects revenues related to
the Group’s Payment solutions. The table below presents the details of the
reclassification for each reporting period in 2025.
Revenues by Solution Q1 2025 H1 2025 9M 2025 FY2025 Q1 2026 H1 2026
in € million
Identity & Payment 52.7 104.1 159.5 222.3 56.5 117.6
Document Lifecycle Management 22.6 44.4 80.4 103.7 19.7 39.8
════════════════════════════════════════════════════════════════════════════
26.08.2026 CET/CEST This Corporate News was distributed by [5]EQS Group
View original content: [6]EQS News
════════════════════════════════════════════════════════════════════════════
Language: English
Company: AUSTRIACARD HOLDINGS AG
Lamezanstraße 4-8
1230 Vienna
Austria
E-mail: marketing@austriacard.com
Internet: https://www.austriacard.com/
ISIN: AT0000A325L0
WKN: A3D5BK
Listed: Vienna Stock Exchange (Official Market)
LEI Code: 529900QI445M00DK4407
EQS News ID: 2389288
End of News EQS News Service
2389288 26.08.2026 CET/CEST
https://nwr.eqs-cockpit.com/fncls2.ssx?application_id=2389288&application_name=news&site_id=apa_ots_austria~~
References
~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
2. https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&url=cd499730cffc4972e12064b494f117f3&application_id=2389288&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
3. investors@austriacard.com
4. https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&url=41461859389e76d9e66a501181c96d7d&application_id=2389288&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
5. https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&url=f5d50dc7e8798b6eb177f7955e598e60&application_id=2389288&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
6. https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&url=ff304f1cc98f1623799388054c8dfc42&application_id=2389288&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
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