Azkoyen Group increases its turnover by 6%, reaching 211 million euros

• Gross margin stood at 98 million euros, 10.2% higher than the previous year.
• The Group’s EBITDA rose to 38 million euros, 7.8% more than in 2024.
• Sales and EBITDA reached all‑time highs.
• Profit before tax amounted to 24.5 million euros.
• Cash generation enabled the year to close with no debt.

Azkoyen Group, a multinational leader in the design, manufacture and marketing of technological solutions in the fields of coffee, payment systems and security systems, today announced its results for the 2025 financial year, in which net turnover increased by 6.0%, surpassing 211 million euros. EBITDA reached 38 million euros, 7.8% higher than the previous year. Both sales and EBITDA are the highest in the Group’s 80‑year history.

Gross margin stood at 98 million euros, 10.2% higher than in 2024. This improvement is mainly due to changes in the business mix.

Consolidated profit before tax reached 24.5 million euros, a figure similar to that of the previous year. Consolidated profit after tax amounted to 17.5 million euros.

Cash generation enabled the year to close with no debt, compared with net financial debt of 10.8 million euros in the previous year. This improvement is even more significant considering that shareholder remuneration increased in 2025, with more than 9 million euros distributed in dividends.

These figures position Azkoyen Group as a company with a solid financial, economic and liquidity position.

Following these results, the Board of Directors will propose to the General Shareholders’ Meeting the distribution of a dividend equivalent to at least 50% of consolidated profit after tax for the 2025 financial year.

This continued commitment to shareholders was reflected in February 2025, when the company was included in the Ibex Top Dividendo index.

Additionally, in 2025 Azkoyen Group made progress on its sustainability commitments. Its efforts earned it an overall ESG rating of “AA” from the Instituto Español de Analistas and consolidated the silver medal awarded by EcoVadis.

Turnover by region

Regarding consolidated turnover by region, 31.1% corresponds to Germany; Spain accounts for 18.1% of the total; the United Kingdom 8.7%; Italy 7.3%; Belgium 6.0%; the rest of the European Union 16.7%; and other countries 12.1%. The Group has continued to expand its international presence, strengthening its position in strategic markets and consolidating its activity in more than 100 countries.

Business lines

The Coffee & Vending division contributed 28% of turnover. It is mainly dedicated to the production of automatic coffee machines for the vending industry, as well as semi‑automatic coffee machines for offices (OCS sector) and for the hospitality, restaurant and café sector (Horeca). In addition, for this latter sector, it produces premium traditional espresso coffee machines, including machines for the Home channel (adapted for domestic use). Finally, to a lesser extent, it produces vending machines for cold drinks, snacks and other products. Its main business areas are in the United Kingdom, the American continent—especially the United States—Spain, Germany and other European countries.

The Payment Technologies, IoT and telemetry division contributed 37% of turnover and has led the growth of Azkoyen Group. It includes solutions for cash management, digital, electronic and cash payment systems for vending, as well as global connectivity, IoT and telemetry solutions. A large part of the revenue from cash management solutions is related to the retail segment and, specifically, to the Cashlogy product range. Furthermore, in 2025 the number of machines connected to devices from the Coges and Vendon brands increased significantly.

The Access Control and Security division, led by Primion, has consolidated itself as a strategic pillar, contributing 35% of Azkoyen Group’s turnover. This success is based on its ability to execute Convergent Security projects—where physical, IT and OT security converge—and Workforce Management solutions, enabling companies to integrate their security and human resources processes into a single identity‑based intelligent platform. Most sales in 2025 were made in Germany (66%), followed by Belgium (16%), Spain (6%), France (4%) and other countries (8%). In this business line, maintenance/SaaS revenue grew by 1.1% (19.9 million euros, higher than the 19.7 million euros of the previous period) and represents 26.9% of total sales.

For Juan José Suárez, Chairman of Azkoyen Group, the 2025 results, in the year in which the company celebrated its 80th anniversary, are a great source of satisfaction for everyone who forms part of the Group, since, as he points out, “these achievements are being made possible thanks to them”. The trend shown by the results of the last three years “is a recognition of the strategic plan, based on innovation oriented towards user experience, internationalisation, business diversification and sustainability as a cross‑cutting axis. Results that allow us to continue investing in future growth while maintaining our commitment to shareholders,” he says.

Azkoyen Group’s strong positioning in its various businesses and geographies, as well as its performance in recent years, demonstrates that the Group is well placed to successfully develop its strategic plan. Azkoyen Group maintains a diversified production and commercial structure, which reduces exposure to specific market risks and provides resilience in variable economic environments.

Outlook

Azkoyen Group’s strong positioning across its various businesses and geographies, together with its performance in recent years, demonstrates that the Group is well placed to successfully develop its strategic plan. The Group maintains a diversified production and commercial structure, reducing exposure to specific market risks and providing resilience in variable economic environments.

According to current estimates, and despite uncertainties arising from a changing geopolitical context, the technology multinational expects 2026 sales revenue to exceed that of 2025. This growth is supported by the pillars of the strategic plan and will be complemented, in the words of the Chairman, by “seeking ways to extract the maximum potential and greatest value from each of our business lines.”