Azkoyen group pays record dividend and acquires Latvian company SIA Vendon


Grupo Azkoyen, a Navarre-based company specializing in the manufacture of vending and automatic payment machines, has paid this year the best dividends in its history, with a record figure of over 30 million euros.

Last year the group achieved a net profit of more than 13 million euros and this year it expects to improve it despite the increase in costs.

The company had a turnover of 138.9 million euros last year, which put it at pre-pandemic levels, and in the first four months of 2022, Azkoyen has increased its sales by 23% and has doubled its pre-tax profit, so it expects to improve its comparative results by the end of the year.

Azkoyen closed the year with a positive cash position of more than seven million euros, which will enable it to take on acquisitions in the coming months.

In fact, this week it announced the acquisition of the Latvian company SIA Vendon, a company dedicated to providing connectivity and telemetry solutions for 9.3 million euros, plus a variable amount of 4 million euros depending on the achievement of certain sales targets, as reported to the National Securities and Exchange Commission (CNMV).