Austriacard Holdings Ag · ATHEX:ACAG
Austriacard — FY2024 Earnings Presentation
39 slides from Austriacard's earnings presentation, Mar 31, 2025
Slide 1: Digital Technologies Forward: Full Year 2024 Financial Results
AUSTRIACARD HOLDINGS Full Year Results 2024 1 Digital Technologies Forward Full Year 2024 Financial Results 31 March 2025
Slide 2: Contents
AUSTRIACARD HOLDINGS Full Year Results 2024 2 Contents 3. Overview 24. Leverage & Dividend 4. A strong growth story with a proven track record 5. Solutions Portfolio 25. Industry Overview 6. Indicative Clientele 26. Industry Overview & Market Trends Cards 7. Operational Footprint 27. Industry Overvi
Slide 3: Overview
AUSTRIACARD HOLDINGS Full Year Results 2024 3 Overview AUSTRIACARD is an international identity and payment solutions provider that has evolved into specialising in digital transformation technologies, empowered by AI. The company has grown 35x in Revenues and 21x in EBITDA through organic growth an
Slide 4: A strong growth story with a proven track record
AUSTRIACARD HOLDINGS Full Year Results 2024 4 A strong growth story with… …a proven track record Key Group figures FY 2024 (€m) Revenues* (Amounts in €m) EBITDA* 385.3 351.3 54.9 CAGR+ 310.3 49.3 CAGR+ 23.3% 33.4% 38.7 173.9 178.0 Revenues* EBITDA* Net Income* 135.0 20.3 21.8 385.3 54.9 19.8 13.0 +9
Slide 5: Solutions Portfolio
AUSTRIACARD HOLDINGS Full Year Results 2024 5 Solutions Portfolio Digital Technologies Identity & Payment solutions Document Lifecycle Management Artificial Intelligence Security Documents & Payment cards Empowered Solutions Traceability Remote KYC/KYB Personalized Digital Card as a service (CaaS) O
Slide 6: Indicative Clientele
AUSTRIACARD HOLDINGS Full Year Results 2024 6 Indicative Clientele Financial Insurance Energy & Retail Institutions Institutions Telecoms Public sector
Slide 7: Operational Footprint
AUSTRIACARD HOLDINGS Full Year Results 2024 7 Operational Footprint Operating facilities in 9 countries UK, Andorra, Spain, Austria, Poland, Romania, Greece, Türkiye, US Sales Offices Norway, Czech Republic, Germany, Croatia, Serbia, Jordan, the UAE and a network of partners and selling agencies aro
Slide 8: Key Milestones
AUSTRIACARD HOLDINGS Full Year Results 2024 8 Key Milestones 1897 2000 2012 2020 2023 Listing of Company’s Foundation of Establishment of New smart card New smart card shares on ATHEX & VSE printshop by INFORM LYKOS personalization center personalization P. Lykos ROMANIA in Poland center in USA Comp
Slide 9: Investment Proposition
AUSTRIACARD HOLDINGS Full Year Results 2024 9 Investment Proposition Diversified digital solutions Proprietary Proven track record portfolio in a fast-growing technologies and chip in strategic and technology segment operating systems accretive acquisitions Strong R&D capabilities Strategically driv
Slide 10: Stock Data
AUSTRIACARD HOLDINGS Full Year Results 2024 10 Stock Data Shareholders ACAG was listed in March 2023 without an IPO. The placement marks the first entry of institutional investors as shareholders. On April 30, 2024, majority shareholder Free float N. Lykos, with other shareholders, 26.9% placed 15%
Slide 11: Management Team
AUSTRIACARD HOLDINGS Full Year Results 2024 11 Management Team Nikolaos Lykos Manolis Kontos Markus Kirchmayr Jon Neeraas Burak Bilge Dr. Mohamed Chairman of the Group CEO Group Chief Financial EVP Western Europe, EVP Türkiye, Middle East & Chemloul Management Board EVP Central Eastern Officer Nordi
Slide 12: Projects Overview
AUSTRIACARD HOLDINGS Full Year Results 2024 12 Projects Overview Projects Case studies
Slide 13: Key Projects in 2024
AUSTRIACARD HOLDINGS Full Year Results 2024 13 Key Projects in 2024 Digital technologies Identity & Payment Solutions Document Lifecycle Management Romanian Bank: Document Digitization European Fintech Bank: Production and National Examinations in MEA: Production of solution, including digitizing th
Slide 14: Case study #1
AUSTRIACARD HOLDINGS Full Year Results 2024 14 Case study #1 Romanian Financial Institution Generative Artificial Intelligence-based document understanding and assignment Leveraged our in-house developed Generative AI technology, integrating the latest technologies and natural language instructions,
Slide 15: Case study #2
AUSTRIACARD HOLDINGS Full Year Results 2024 15 Case study #2 Romanian Bank Asset Management and Patrimony along with electronic archiving Implemented our Assets Management solution to centralize and streamline real estate asset documentation by integrating a structured, hierarchical classification w
Slide 16: Case study #3
AUSTRIACARD HOLDINGS Full Year Results 2024 16 Case study #3 Greek Public Sector Digital Transformation and automation of the pension awarding system for the Greek Government For years, the pension award process was time-consuming, resulting in hundreds of thousands of pension requests being delayed
Slide 17: Case study #4
AUSTRIACARD HOLDINGS Full Year Results 2024 17 Case study #4 Greek Public Sector Digital Transformation of the Greek Government's mission critical ministries The Greek government is currently executing the RRF digital transformation roadmap in all critical ministries, including the scanning of gover
Slide 18: Financial Results
AUSTRIACARD HOLDINGS Full Year Results 2024 18 Financial Results Full Year 2024 March 31 2025
Slide 19: 2024 Key Highlights
AUSTRIACARD HOLDINGS Full Year Results 2024 19 2024 Key Highlights Strong performance continues with expansion in new markets Revenues* EBITDA* Net Profit* Increased by 9.7% to €385.3m Increased by 11.4% to €54.9m increased by 16.6% to €19.8m driven by Digital Transformation driven by revenue and gr
Slide 20: Strong operating performance, guidance achieved
AUSTRIACARD HOLDINGS Full Year Results 2024 20 Strong operating performance, guidance achieved *Revenues *EBITDA Amounts in €m Amounts in €m +9.7% 351.3 385.3 49.3 11.4% 54.9 FY2023 FY2024 FY2023 FY2024 *Revenues increased by 9.7% in FY 2024 compared to FY 2023 due to strong growth in: *EBITDA incre
Slide 21: Geographical segments performance (in €m)
AUSTRIACARD HOLDINGS Full Year Results 2024 21 Geographical segments performance (in €m) Western Europe, Nordics, Americas Central Eastern Europe & DACH Türkiye, Middle East & Africa +12.8% +0.1% +34.4% 130.9 224.9 72.1 116.0 224.6 53.7 +15.0% -2.3% +68.2% 17.9 20.6 30.3 29.6 4.9 8.3 FY2023 FY2024 F
Slide 22: Strategic acquisitions
AUSTRIACARD HOLDINGS Full Year Results 2024 22 Strategic acquisitions Acquisition of 100% of the shares Acquisition of 100% of LSTech Ltd in e-commerce monitoring GmbH Austria The company is an EU EiDAS compliant QTSP A UK research and data analytics company (qualified trust service provider) which
Slide 23: Working Capital evolution and effect of Covid in inventories
AUSTRIACARD HOLDINGS Full Year Results 2024 23 Working Capital evolution and effect of Covid in inventories 18.5% 15.5% 16.6% Supply chain disruptions during Covid led to severe 14.2% semiconductor shortage, reflected in ACAG’s 7.4% abnormally low 2022 inventory level 24.7 27.5 23.0 58.2 71.3 Longer
Slide 24: Leverage & Dividend
AUSTRIACARD HOLDINGS Full Year Results 2024 24 Leverage & Dividend Leverage Dividend Dividend 3.9X payout: 20%-25% 2.8X 2.0X of net 1.9X 1.7X profit 57.8 85.1 76.6 95.0 95.6 0.025 0.10 0.11 2020 2021 2022 2023 2024 2022 2023 2024 €3.6m €4.0m Net Debt Net Debt/Adj. EBITDA (X) Leverage below the 2x ta
Slide 25: Industry Overview
AUSTRIACARD HOLDINGS Full Year Results 2024 25 Industry Overview Cards Fintech Digital transformation
Slide 26: Industry Overview & Market Trends: Cards
AUSTRIACARD HOLDINGS Full Year Results 2024 26 Industry Overview & Market Trends: Cards ACAG is the leader in smart cards for Fintech in Europe, and growing in North America EUROPE NORTH AMERICA 62.5 million 32 million 45 million 4.5 million Challenger Bank cards issued Challenger Bank Challenger Ba
Slide 27: Industry Overview & Market Trends Fintech: Challenger Banks
AUSTRIACARD HOLDINGS Full Year Results 2024 27 Industry Overview & Market Trends Fintech: Challenger Banks The Group has a leading position with Challenger Banks Global Fintech Revenues projection 2024-2033 Top 5 European Challenger Banks based on customers (Nov 2024) Number of customers in mn AUSTR
Slide 28: Industry Overview & Market Trends: Digital Transformation
AUSTRIACARD HOLDINGS Full Year Results 2024 28 Industry Overview & Market Trends: Digital Transformation *Global Greece Drivers 450 digital transformation projects for the period 2021-2026 Amounts in $ bn supported by €6.4 billion of EU Recovery Fund Money ✓ The digital transformation 1550 market is
Slide 29: Strategy
AUSTRIACARD HOLDINGS Full Year Results 2024 29 Strategy
Slide 30: Growth Strategy
AUSTRIACARD HOLDINGS Full Year Results 2024 30 Growth Strategy: 1. Geographic expansion 3. Products & services portfolio enhancement Focus markets: Continued leadership in Payment and Banking Product Innovation: Biometric, UK, France, MEA specific market segments solutions as a service metal, eco-fr
Slide 31: Key takeaways
AUSTRIACARD HOLDINGS Full Year Results 2024 31 Key takeaways Our group's revenue growth trajectory continues due to portfolio enhancement and market share acquisition in "green field" markets. The increased scale and geographical reach enable more considerable Operating Efficiencies and EBITDA margi
Slide 32: Appendix
AUSTRIACARD HOLDINGS Full Year Results 2024 32 Appendix
Slide 33: Income Statement
AUSTRIACARD HOLDINGS Full Year Results 2024 33 Income Statement Amounts in € thousands 1-12 2024 1-12 2023 Q4 2024 Q4 2023 Revenue 392,285 364,563 88,792 93,370 Cost of sales (297,730) (276,255) (68,018) (70,296) Gross profit 94,555 88,308 20,774 23,074 Other income 4,987 3,837 1,983 685 Selling and
Slide 34: Balance Sheet
AUSTRIACARD HOLDINGS Full Year Results 2024 34 Balance Sheet Amounts in € thousands 31/12/2024 31/12/2023 Assets Property, plant and equipment and right of use assets 100,545 96,275 Intangible assets and goodwill 59,555 55,526 Equity-accounted investees 395 324 Other receivables 1,259 2,386 Other lo
Slide 35: Cash Flow Statement
AUSTRIACARD HOLDINGS Full Year Results 2024 35 Cash Flow Statement Amounts in € thousands 01.01-31.12.2024 01.01-31.12.2023 Cash flows from operating activities Profit (Loss) before tax 25,875 21,015 Adjustments for: -Depreciation amortization and impairment 17,772 16,127 -Net finance cost 8,177 10,
Slide 36: Effect of IAS 29 (Hyperinflation)
AUSTRIACARD HOLDINGS Full Year Results 2024 36 Effect of IAS 29 (Hyperinflation) • The application of IAS 29 FY 2023 FY 2024 (Hyperinflation) with respect to our Türkiye- (€m) Reported IAS29 Effect Management Reported IAS29 Effect Management based operations, together Results View Results View with
Slide 37: Solid M&A track record
AUSTRIACARD HOLDINGS Full Year Results 2024 37 Solid M&A track record Expanding our product offering and geographical footprint Following the transformative acquisition of AUSTRIACARD in 2007, the Group has proceeded to further accretive acquisitions, expanding its geographical reach and solutions p
Slide 38: Disclaimer
AUSTRIACARD HOLDINGS Full Year Results 2024 38 Disclaimer This presentation is made by AUSTRIACARD (the “Company”) for you as intended This presentation contains forward-looking statements, which involve risks and recipient and is strictly confidential. It is furnished to you solely for your informa
Slide 39: Thank you
AUSTRIACARD HOLDINGS Full Year Results 2024 39 Thank you For more information please visit: https://www.austriacard.com Contact us: investors@austriacard.com AUSTRIACARD HOLDINGS Lamezanstrasse 4-8 1230 Vienna, Austria Phone: +43 (0)1 61065 – 0