Azkoyen Group approves a €9.4 million dividend after achieving the highest profit in its history

• Revenue (€199 million), EBITDA (€35 million), and net profit (€18.8 million) are the highest figures in the 80-year history of Azkoyen Group.
• The Annual General Meeting approved the annual accounts, the non-financial information statement, and the Board of Directors’ management during 2024.
• The renewal of board members Mr. Arturo Leyte, Mr. Diego Fontán, Ms. Ana Ruiz, Ms. Esther Málaga, and the Chairman himself has been proposed for the statutory term of three years.

May 30, 2025 – The Annual General Meeting of Azkoyen Group, a multinational leader in the design, manufacturing, and commercialization of technological solutions in the areas of coffee, payment systems, and security, approved this afternoon the distribution of €9.4 million in dividends, equivalent to 50% of the Group’s consolidated net profit in 2024. This dividend will be paid on June 20.

Juan José Suárez, Chairman of the Group, shared the most important milestones for Azkoyen Group in a historic year, with a record net profit of €18.8 million, an EBITDA of €35 million, and a net revenue exceeding €199 million, figures never before reached by the Group. These results are the outcome of new commercial agreements and the growth in several strategic accounts, both in Spain and internationally.

During the General Meeting, the renewal of board members Mr. Arturo Leyte, Mr. Diego Fontán, Ms. Ana Ruiz, Ms. Esther Málaga and the Chairman himself, were proposed for the statutory term of three years.

In addition to the annual accounts, the meeting approved the management report, the non-financial information statement, the Board of Directors’ management, and the annual report on directors’ remuneration for fiscal year 2024.

The Chairman highlighted the Group’s strong commitment to its shareholders, a commitment recognized last February by the IBEX Advisory Committee, which included Azkoyen Group in the IBEX Top Dividendo index during its semiannual review. This index includes the 25 listed companies with the highest dividend yields in the Spanish market. This recognition reinforces the strength of Azkoyen Group’s shareholder return policy and long-term value creation strategy.

Growth built on four pillars

In his speech, the Chairman emphasized the four key pillars of the company’s strategy: continuous innovation, diversification, internationalization, and sustainability as a cross-cutting value:
“Azkoyen Group’s commitment to sustainability is unquestionable. In 2024, the Board approved seven corporate policies related to equality and diversity, human rights, responsible supply chains, decarbonization, and information security, among others. These policies establish the fundamental principles for action and reflect our commitment to ethical and sustainable practices,” he stated.

In 2024, the company received an “A” ESG rating from the Spanish Institute of Analysts and improved its sustainability score in the Ecovadis assessment, establishing its Silver Medal. Azkoyen Group was also awarded with the Sustainable Company Award by the Navarra Chamber of Commerce.

The multinational’s strong commitment to continuous innovation is reflected in the maintenance of seven R&D centers in Spain, Italy, Germany, Latvia and Belgium, an area where 17% of the workforce is employed, and in an investment of €20 million in 2024.

The diversification of business lines and markets is one of the key drivers behind the Group’s strong results. In this respect, the three business areas, Payment Technologies, Coffee & Vending Systems, and Time & Security, each contributed over 30% of total sales. By region, Germany accounted for 27.6% of consolidated revenue; Spain for 17.8%; the United Kingdom for 10.3%; Italy for 8.8%; Belgium for 6.2%; the rest of the European Union for 16.3%; and other countries for 13.0%.

Record years and positive outlook

The Chairman also shared key achievements from 2024 across the Group’s business lines. These highlights include the expansion of Cashlogy machines in Latin American markets; the award of the tender for Iberia’s VIP lounges at Madrid-Barajas Airport; growth in the recurring IoT business with more than 170,000 active monthly subscriptions across Coges, Vendon, and Cashlogy; the signing of new contracts in security and time & attendance markets; and the continued growth in the U.S. market, among others.

Looking ahead, the Chairman expressed optimism for the coming years. “In 2025, we are continuing our growth and expansion plans in strategic businesses. We will pursue further geographical and business diversification and remain committed to innovation. At the same time, we are strengthening our presence and sales in high-potential markets and reinforcing the R&D and marketing departments across our divisions. All of this allows us to look to the future with confidence, and we are convinced that 2025 will bring new opportunities, with projected revenue growth above the figures achieved in 2024,” he said.

Juan José Suárez made a special mention of the people who make up the Group:
“For the second consecutive year, we have achieved record results, and I want to express my most sincere thanks to everyone at Azkoyen Group. Your talent, effort, and dedication are the key pillars of the success we are achieving,” he stated, closing the General Meeting in the year Azkoyen Group celebrates its 80th anniversary.