Azkoyen Group earned 15 M € in 2022, 15.5 % more than the previous year


In addition, the company reported on Monday that net revenues amounted to 170.8 million euros, up 23 % compared to the previous year. This growth was driven by the Coffee & Vending Systems division, up 43.1 %; Payment Technologies, up 27.2 %; and Time & Security, up 3.2 %.

The Azkoyen Group announced on Monday its results for the 2022 financial year, in which it recorded a net turnover of 170.8 million euros, a 23% increase compared to the previous year. This growth, according to the Navarra-based company, was driven by Coffee & Vending Systems, with an increase of 43.1%; Payment Technologies, with an increase of 27.2%; and Time & Security, with a rise of 3.2%.

Gross margin was 43.3 %, an increase of 19.6 % to EUR 71.9 million. Fixed costs were up 16.2 %, while EBITDA came in at 28.1 million euros, 24.1 % higher than a year earlier.

Consolidated profit after tax amounted to EUR 15 million, an increase of 15.5 %. “These results have been recorded in a difficult environment, characterised by inflationary pressures, cost overruns, the persistence of the negative impact of the pandemic on supply chains and global uncertainty due to the conflict in Ukraine,” the company said.