The EBITDA reaches a figure of 10.6 million euros, representing an increase of 43.6%.
Profits after taxes exceed 4.4 million euros.
The Azkoyen Group increases its sales by 21.2%.
Most of this growth has centered on the payment systems business, a strategic segment for this Group.

July 28, 2006.- The Azkoyen Group closed the first half of 2006 with a significant increase in profits. As a result, the before-tax earnings have grown to 5.53 million euros, 137% more than during the same period the year before, while earnings after taxes have exceeded 4.42 million euros, representing an increase of 117%. In a similar manner, the Group has recorded a significant increase in EBIT, with an increase of 133.1% over the same period the year before, reaching 7 million euros.

On the other hand, sales increased 21.2%, reaching 71.17 million euros.

      (in thousands of Euros)

For Miguel Iraburu, Azkoyen president, “These earnings confirm the decision that we made in our Strategic Plan at Azkoyen to focus on strengthening our basic business lines. A sign of this is demonstrated by the fact that the main impulse behind our growth is focused on the Payment Systems business, a business unit that was strengthened after the acquisition of Coges SpA last year, and which has confirmed Azkoyen's position as the leader in the European market for payment systems.”

Evolution as shown by business figures

Consolidated amounts (in thousands of  Euros)

The sales of Tobacco Vending Machines have continued the growth which began during the first quarter of 2006, once the legislative uncertainty which lasted all the previous year dissipated.
On the other hand, the Payment Systems activity has experienced an increase in sales of 115.9% over the same period in 2005, continuing the growth from the first quarter of the previous year.
Activity in the Coffee and Consumable goods sector confirms this positive trend, with an increase of 6.8% in sales during the first quarter of 2006 as the result of the continued efforts at adapting to the market demand in the Hotel, Restaurant and Catering sector.
In the Machinery and Installations business, which has experienced a 2.7% growth, the Group expects to reach a sales increase in the double digits gradually throughout the year.  
Finally, the earnings from the Vending Machine and Hotel and Restaurant Service Machines are somewhat below those from the previous fiscal year, even though the expectations for the second half of the year are positive.