Ebitda exceeds 7.8 million euros, which represents an increase of 55%.
Sales increase by 13%.
All figures improve noticeably

The Azkoyen Group has closed the first quarter of 2007 with an important increase in their net profits, up to 4 million euros, 102% above the same period the year before.
In turn, sales, which are one of the key Group figures, have increased by 13%, which has lead to gross operating profits (EBITDA) exceeding 7.8 million euros, with a 55% increase over the same period in 2006.
The net operating profits (EBIT) were 6 million euros, which represent an 88% increase over the first quarter of 2006. Likewise, the before-tax profits have reached 5.3 million euros, which represents an increase of 116%.
With regards to sales, it should be noted that the figures for fiscal years 2006 and 2007 are not comparable, since the 2006 figures included the coffee supply activity in Portugal (which was sold during the third quarter of 2006). After controlling for this effect, the sales growth exceeds 18%.

      (in thousands of Euros)

According to Miguel Iraburu, Azkoyen President, “These results confirm a great acceleration towards reaching our profitability goals for strategic Group business lines, the result of both sales efforts and important adjustments made over the last two years”.

“The Payment Systems line deserves special mention.” Miguel Iraburu adds, “It has been consolidated as a very profitable business line in which Azkoyen has earned a leadership position at a European level. The initial expectations generated by the integration of the Italian company Coges into the Group have clearly been exceeded by sustained growth that is bringing some very important results for the Group.”.

Evolution of business figures

Consolidated figures (in thousands of Euros)

Sales increases have occurred in all key Group business lines, with the exception of Coffee and Consumable Goods, due to the change as the result of the consolidation of the business lines following the sale of the coffee business unit. Where Spain is concerned, Coffee and Consumable Goods sales have increased by 6.7% during this first quarter.
Sales in the Tobacco Machine segment have been spurred by the new regulations that have taken effect and their installation in newsstands, which supports the decision made by Azkoyen to maintain a presence in a sector that they consider to be a profitable niche market, and one in which they are the European leaders.
In turn, Vending Machine activity reached growth figures of 13% over the same period in 2006. To strengthen this line of business, Azkoyen will launch a new line of products with important technological and functional improvements during the second quarter.
Payment Systems is the business unit with the greatest sales volume in the Group, currently representing 33% of the total, which, along with the fact that this is the business unit with the largest profit margin, confirms the Group's strategic plan.