The progress has been described as "very positive" by official sources, who also confirm that the Group will continue with stable growth during this financial year. They say that the positive progress of profit margins is due to the increase in the volume of sales, the rationalisation of use of human and technical resources and the reduction in the prices of some raw materials.

In 2001, the Azkoyen Group's investments were 10.35 million euros and R&D expenditure was more than 6.6 million euros.

In terms of lines of business, 50.6% of the total turnover was in Catering and Vending (90.5 million euros) and 33.4% in Methods of Payment (59.6 million euros). Sales of coffee and other products sold were more than 28.6 million euros.

Exports amounted to 60.5 million euros, and were mainly in the markets in which the Group has sales companies: Germany, France, Portugal and the United Kingdom.

Methods of Payment and the "euro effect"

The considerable increase recorded in the Methods of Payment line of business is mainly, although not solely, due to the entry into circulation of the euro, something for which the Azkoyen Group had been preparing for years and it has been equipped with the appropriate products and production and sales capacity to satisfy the high demand.
After the "euro effect" the Azkoyen Group will continue with "stable" growth during 2002 and the estimates for the future remain optimistic

According to forecasts, sales will be similar in absolute terms to those for the 2001 financial year, increasing by 23% compared with 2000, which can certainly be considered comparatively as being more consistent.

Regarding profits forecasts, at the start of March, due to the improvement in profit margins, the Azkoyen Group envisages an increase for this year of around 30% from 2000.