Slide 1: FY2025 Results Presentation
FY2025 Results Presentation 24 March 2026 Building on trust. Growing digitally.
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by AUSTRIACARD HOLDINGS AG (the “Company”) solely for informational purposes and is intended Any securities offered by the Company have not been, and will not be, registered under the Securities Act and may not be offered or sold in the
Slide 3: Contents
Contents 4. Results Highlights 20. About Us 24. Appendix Consolidated Financial Statements AUSTRIACARD HOLDINGS FY2025 Results Presentation 3
Slide 4: Results Highlights
Results Highlights AUSTRIACARD HOLDINGS FY2025 Results Presentation 4
Slide 5: FY2025 at a Glance
FY2025 at a Glance • H2 performance confirms the growth o Favourable revenue mix (higher-margin services & solutions) Momentum restored: a decisive H2 trajectory signaled in Q2 & Q3 results and cost optimisation drive EBITDA margin expansion recovery validates our strategy • H2 2025 adj. EBITDA +23%
Slide 6: P&L Highlights
P&L Highlights Revenues adj. EBITDA EBITDA Net Profit 360.2 51.8 48.8 16.2 • Digital Technologies (+25%) • Favourable revenue mix (growing contribution of higher-margin services & solutions) • Lower net financial expenses (-7%) • Document Lifecycle Management (+4%) supports Gross Profit I margin exp
Slide 7: H2 2025: A Decisive Recovery Validates Our Strategy
H2 2025: A Decisive Recovery Validates Our Strategy €m Group Revenues flat 20% 10% 195 197 197 99 98 164 89 83 81 H1 2024 H2 2024 H1 2025 H2 2025 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Key Performance Drivers in H2 2025 • Accelerated implementation of contracted digitization projects in the Greek public sect
Slide 8: H2 2025 adj. EBITDA +23%: Management Guidance Delivered
H2 2025 adj. EBITDA +23%: Management Guidance Delivered €m Group adj. EBITDA adj. EBITDA margin 23% 31% 17,0% 20,0 19,0% 16,1% 18,5% 18,0% 16,5% 17,5% 44,0 18,0 17,0% 16,5% 42,0 18,0% 13,5% 13,6% 16,0% 40,0 38,0 14,8% 16,0 15,5% 15,0% 13,5% 17 16,0% 14,5% 36,0 14,0% 16 13,5% 34,0 14,0 11,8% 13,0% 14
Slide 9: Balance Sheet & Cash Flow Highlights
Balance Sheet & Cash Flow Highlights Net Working Capital Operating Cash Flow Free Cash Flow1 74.2 39.7 22.5 • Reduced pace of working capital build-up • Strong operating cash flow generation (+17%) • Disciplined focus on improving inventory management & cash collections • Modest CAPEX requirements (
Slide 10: Net Working Capital FY2025 bridge
Net Working Capital FY2025 bridge The Net Working Capital increase is largely attributed to project billing timing and revenue mix effects, rather than any structural weakening in the underlying working capital management Cash Inflow Cash Outflow €m 3 2 6 74 71 1 9 14 4 2 3 31.12.2024 Inventories Tr
Slide 11: Balance Sheet & Credit Highlights
Balance Sheet & Credit Highlights Leverage (Net Debt / adj. EBITDA) Net Debt1 Leverage (Total Equity / Assets) 1.6x 81.6 41% • Improved leverage vs. FY2024 driven by net debt • Improved operating/free cash flow generation utilized for • Improvement reflects balance sheet resilience, supported reduct
Slide 12: Margin Expansion in WEST & MEA
Margin Expansion in WEST & MEA €m Central Eastern Europe & DACH (CEE) W. Europe, Nordics, Americas (WEST) Türkiye, Middle East & Africa (MEA) inter-segment (CEE-MEA) Turkish payment card market (€20m impact) Metal card sales to Fintech inter-segment (CEE-MEA) (€26m impact) Turkish payment card 224,9
Slide 13: Group Revenues FY2025 bridge — Geographic segments
Group Revenues FY2025 bridge — Geographic segments €m % change vs. FY2024 1 Central Eastern Europe & DACH (CEE) 1 • Turkish payment card market normalization (reduction in inter-segment revenues with MEA): €20m impact 392 excl. impact from Türkiye & metal card sales 4% • Document Lifecycle Managemen
Slide 14: Group adj. EBITDA FY2025 bridge — Geographic segments
Group adj. EBITDA FY2025 bridge — Geographic segments €m % change vs. FY2024 1 Central Eastern Europe & DACH (CEE) 1 • Revenue decline (€22m vs. 2024) • Cost rationalisation: cost of sales (-8% or €14m savings) and SG&A (-10% or €3m 55 savings) • Gross Profit I margin expansion (+40bps to 45.4%), th
Slide 15: Group Revenues FY2025 bridge — Solutions
Group Revenues FY2025 bridge — Solutions €m 1 % change vs. FY2024 1 Identity & Payment solutions • Turkish payment card market normalization (card volumes: 20% decline): €22m 392 excl. impact from Türkiye 4% impact at Group level & metal card sales • Unfavourable base effect in FY2024 from metal car
Slide 16: Shifting Revenue Mix: More higher-margin Solutions and Services
Shifting Revenue Mix: More higher-margin Solutions and Services Solutions Geographic Segments 9% FY2025 FY2024 16% €360m €392m 7% 18% 34% 52% 52% 52% 59% 39% 30% 32% Document Western Europe, Central Eastern Identity & Digital Türkiye, Middle Lifecycle Nordics, Americas Europe & DACH Payment Technolo
Slide 17: A platform built for scale with a proven track record of growth
A platform built for scale with a proven track record of growth Revenues CAGR EBITDA CAGR Net Profit CAGR 2022-25 110,0 2022-25 22,0% 2022-25 +5% 100,0 +16% +50% €m 392 EBITDA margin 19 90,0 17,0% 365 360 13,6% 80,0 13,0% 13,2% 17 70,0 16 315 12,0% 60,0 9,9% 50,0 52 40,0 48 49 7,0% 30,0 31 2,0% 5 20
Slide 18: Proposed FY2025 Dividend
Proposed FY2025 Dividend FY2025 DPS FY2025 Payout Ratio1 Medium-term Target FCF Coverage2 €0.10 24% 20-25% 6.3x • The proposed FY2025 dividend reflects the Management Board’s commitment to a progressive payout policy (20-25% of Net Profit). • The FY2025 DPS reduction is proportionally smaller than t
Slide 19: FY2026 Outlook
FY2026 Outlook Opportunities for 2026 and beyond Strategic initiatives to drive sustainable margin enhancement and earnings growth: Digital Technologies, Trusted digital Identity & Payment solutions Robust contracted revenue pipeline Solid backlog of customer onboardings in WEST (US & UK) in Q1 2026
Slide 20: About Us
About Us AUSTRIACARD HOLDINGS FY2025 Results Presentation 20
Slide 21: A global applied technology company
A global applied technology company... Revenues EBITDA Net Profit A global provider of identity and payment solutions, with a strategic focus on digital transformation technologies, €360m €49m €16m powered by proprietary technology and AI capabilities 13.6% margin Operating CF1 Leverage2 Total Asset
Slide 22: …with a proven track record of growth...
…with a proven track record of growth... Revenues CAGR EBITDA CAGR Net Profit CAGR 2022-25 2022-25 2022-25 +5% +16% +50% 110,0 22,0% €m 100,0 392 EBITDA margin 19 90,0 17,0% 365 360 13,6% 80,0 13,0% 13,2% 17 70,0 16 315 12,0% 60,0 9,9% 50,0 52 40,0 48 49 7,0% 30,0 31 2,0% 5 20,0 10,0 0,0 -3,0% 2022
Slide 23: …and a global footprint across EMEA and the US
…and a global footprint across EMEA and the US 10 manufacturing hubs across strategic markets Key operational presence Identity & Personalization Document Facility Payment Centre Lifecyle Andorra ✅ Austria ✅ ✅ Greece ✅ ✅ Poland ✅ Romania ✅ ✅ ✅ Spain ✅ Türkiye ✅ UK ✅ ✅ US ✅ Sales Offices Norway, Czec
Slide 24: Appendix
Appendix Consolidated Financial Statements AUSTRIACARD HOLDINGS FY2025 Results Presentation 24
Slide 25: Income Statement (Management Reporting)
Income Statement (Management Reporting1) in €m FY2025 FY2024 Revenues 360.2 392.3 Costs of material & mailing (181.7) (209.8) Gross profit I 178.4 182.5 Gross profit I margin 49.5% 46.5% Production costs (91.7) (87.9) Gross profit II 86.8 94.6 Gross profit II margin 24.1% 24.1% Other income 6.2 5.0
Slide 26: Income Statement (IFRS) FY2025 FY2024
Income Statement (IFRS) in € thousand FY2025 FY2024 Revenues 360,171 392,285 Cost of sales (273,410) (297,730) Gross profit 86,762 94,555 Other income 6,231 4,987 Selling and distribution expenses (22,452) (23,338) Administrative expenses (29,278) (31,447) Research and development expenses (9,879) (
Slide 27: Income Statement (IFRS) Q4 2025 Q4 2024
Income Statement (IFRS) in € thousand Q4 2025 Q4 2024 Revenues 97,728 88,792 Cost of sales (72,631) (68,018) Gross profit 25,097 20,774 Other income 2,272 1,983 Selling and distribution expenses (5,874) (5,371) Administrative expenses (7,803) (7,433) Research and development expenses (2,970) (2,733)
Slide 28: Group Segments FY2025
Group Segments FY2025 FY2024 Corporate & Corporate & in € thousand CEE WEST MEA Total CEE WEST MEA Total Eliminations Eliminations Revenues 183,792 114,980 61,399 0 360,171 185,923 127,370 78,993 0 392,285 Intersegment revenues 19,225 7,796 183 (27,204) 0 38,983 3,525 56 (42,564) 0 Segment revenues
Slide 29: Balance Sheet 31 December 2025
Balance Sheet in € thousand 31 December 2025 31 December 2024 Property, plant and equipment and right of use assets 96,022 100,545 Intangible assets and goodwill 57,609 59,555 Equity-accounted investees 423 395 Other receivables 1,098 1,259 Deferred tax assets 3,865 3,474 Non-current assets 159,016
Slide 30: Cash Flow Statement FY2025 FY2024
Cash Flow Statement in € thousand FY2025 FY2024 Profit/(Loss) before tax 21,634 25,875 Adjustments for: - Depreciation, amortization and impairment 19,127 17,772 - Net finance cost 8,068 8,177 - Net gain or loss on disposal of non-current assets (276) 33 - Change in associated companies 28 71 - Chan
Slide 31: Investor Relations Contact
AUSTRIACARD HOLDINGS Lamezanstrasse 4-8 1230 Vienna, Austria www.austriacard.com Investor Relations Tel AU: +43 (1) 61065 357 Tel GR: +30 210 669 78 60 investors@austriacard.com AUSTRIACARD HOLDINGS FY2025 Results Presentation 31