Austriacard Holdings Ag · ATHEX:ACAG
Austriacard — Investor Presentation (September 2025)
50 slides from Austriacard's investor presentation, September 2025
Slide 1: Digital Technologies Forward
AUSTRIACARD HOLDINGS AG Digital Technologies Forward Corporate Presentation September 2025
Slide 2: Disclaimer
AUSTRIACARD HOLDINGS Corporate Presentation 2 Disclaimer This presentation (“Presentation”) has been prepared by AUSTRIACARD HOLDINGS AG (the “Company”) solely for informational purposes and is Any securities offered by the Company have not been, and will not be, registered under the Securities Act
Slide 3: Contents
AUSTRIACARD HOLDINGS Corporate Presentation 3 Contents 04. An attractive investment case 14. Growth Strategy 33. Appendix I Group Information 36. Appendix II Case Studies 42. Appendix III Consolidated Financial Statements
Slide 4: An attractive investment case
AUSTRIACARD HOLDINGS Corporate Presentation 4 An attractive investment case
Slide 5: About us
AUSTRIACARD HOLDINGS Corporate Presentation 5 About us adj. EBITDA1 Revenues1 Net Profit1 A global provider of identity and payment solutions, €392m €55m €19m with a strategic focus on digital transformation 14.2% margin technologies, powered by proprietary technology and AI capabilities Operating C
Slide 6: Solutions Portfolio
AUSTRIACARD HOLDINGS Corporate Presentation 6 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 7: A platform built for scale with a proven track record of growth
AUSTRIACARD HOLDINGS Corporate Presentation 7 A platform built for scale with a proven track record of growth… Revenues1 Adj. EBITDA1 Net Profit1 €m 90. 0 22. 0% CAGR 21. 0% CAGR EBITDA margin 20. 0% 2021-24 19. 0% 2021-24 392.3 19.2 13.8% 18. 0% 80. 0 14.1% 17. 0% +30% 12.3% 12.4% 16. 0% +24% 364.6
Slide 8: …with a solid financial position…
AUSTRIACARD HOLDINGS Corporate Presentation 8 …with a solid financial position… Net Debt & Leverage1 Total Assets Total Equity €m CAGR 200 .0 5.0 CAGR 3.9 2021-24 2021-24 Net Debt / adj. EBITDA (x) 190 .0 4.5 332 125 +14% 322 +22% 180 .0 4.0 170 .0 3.5 160 .0 3.0 107 2.0 1.9 150 .0 1.7 2.5 140 .0 13
Slide 9: …and a well diversified Revenue mix supported by a global exposure
AUSTRIACARD HOLDINGS Corporate Presentation 9 …and a well diversified Revenue mix supported by a global exposure Revenues per Solution Revenues per geographic segment €m 392 392 365 27 +45% 365 72 +56% 16 315 54 315 10 60 112 135 +29% 116 131 +28% 110 178 178 117 9 19 63 62 195 236 230 +29% 225 225
Slide 10: Investment proposition
AUSTRIACARD HOLDINGS Corporate Presentation 10 Investment proposition Diversified digital solutions Proprietary technologies A platform built for scale portfolio in a fast-growing and chip operating systems with a proven track record technology segment of growth supported by value-accretive acquisit
Slide 11: Strategy
AUSTRIACARD HOLDINGS Corporate Presentation 11 Strategy Transition into a full-service Technology is the Dual-track growth strategy solutions provider as a cornerstone of our strategic (organic & inorganic) will trusted, long-term partner architecture, powering solidify our position and innovation a
Slide 12: A seasoned management team with a proven track record
AUSTRIACARD HOLDINGS Corporate Presentation 12 A seasoned management team with a proven track record of driving growth and operational excellence Dr. Mohamed Chemloul Manolis Kontos Jon Neeraas Burak Bilge Vice Chairman Management Markus Kirchmayr Chairman Management Board & EVP Western Europe, EVP
Slide 13: Shareholder Structure
AUSTRIACARD HOLDINGS Corporate Presentation 13 Shareholder Structure Free float1 23.8% Total Shares Outstanding 36,353,868 Own shares 1.2% • Dual Listing: Vienna (VSE) & Athens (ATHEX) 74.9% • Commencement of Trading: 23 March 2023 Founder2 & • Sector: Technology Management • ISIN: AT0000A325L0 • Sy
Slide 14: Growth Strategy
AUSTRIACARD HOLDINGS Corporate Presentation 14 Growth Strategy
Slide 15: Our Growth Strategy Pillars
AUSTRIACARD HOLDINGS Corporate Presentation 15 Our Growth Strategy Pillars • transition from Fintech to Tier 2 Banks UK • roll out Card-as-a-Service (CaaS) Geographic Focus areas to develop cutting-edge France • strategic market entry focused on local Fintech 1 expansion products & comprehensive sol
Slide 16: Our Products & Services Portfolio Enhancement Strategy
AUSTRIACARD HOLDINGS Corporate Presentation 16 Our Products & Services Portfolio Enhancement Strategy Payment and Banking solutions as a Objectives 1 service • Shift to solution-led, recurring revenue models • Deepen client relationships through platform integration & lifecycle services • Scale digi
Slide 17: FY2025 Outlook
AUSTRIACARD HOLDINGS Corporate Presentation 17 FY2025 Outlook FY2025 adj. EBITDA revised guidance to mid-single digit decline vs. 2024 Challenges faced in H1 2025 Opportunities & Mitigants for H2 2025 and beyond The continued normalization in the Turkish payment card Strong growth momentum in H2 202
Slide 18: Key medium-term Financial Targets
AUSTRIACARD HOLDINGS Corporate Presentation 18 Key medium-term Financial Targets FY 2024 Organic Revenue CAGR 2025-2027 6−7% 9.7% Adjusted EBITDA Margin 15−17% 14.2% CAPEX as % of Revenues (per annum) 4−5% 4.4% Operating Cash Flow as % of EBITDA ̴ 60% 61% Leverage (Net Debt / EBITDA) (excl. M&A) 1.5
Slide 19: Proven track record of value-accretive, synergistic M&A
AUSTRIACARD HOLDINGS Corporate Presentation 19 Proven track record of value-accretive, synergistic M&A Disciplined M&A driving Scale and Solutions Portfolio Expansion, capitalizing on the transformative acquisition of AUSTRIACARD in 2007 Transaction Company Country Date Description Rationale/Synergi
Slide 20: Digital Technologies
AUSTRIACARD HOLDINGS Corporate Presentation 20 Digital Technologies
Slide 21: Digital Technologies
AUSTRIACARD HOLDINGS Corporate Presentation 21 Digital Technologies A key growth contributor with a series of technologically advanced solutions: • Digital Payments Artificial Intelligence • Enterprise Content Management and Content Understanding through AI Empowered Solutions • Document Digitizatio
Slide 22: Industry Overview & Market Trends: Digital Transformation
AUSTRIACARD HOLDINGS Corporate Presentation 22 Industry Overview & Market Trends: Digital Transformation Global market Greece CAGR USDbn 2024-302 3,289 475 digital transformation projects for the period 2021-2026 +24% supported by €6.4bn of EU Recovery Fund investments (RRF) CAGR 2022-271 +21% 1,550
Slide 23: Identity & Payment solutions
AUSTRIACARD HOLDINGS Corporate Presentation 23 Identity & Payment solutions
Slide 24: Identity & Payment solutions
AUSTRIACARD HOLDINGS Corporate Presentation 24 Identity & Payment solutions • Production and personalization of a high volume of our innovative metal cards • Production of National IDs, e-IDs, Health cards with high-security elements Payment cards • Expansion into the MEA region, from 2025 onwards,
Slide 25: Industry Overview & Market Trends: Cards
AUSTRIACARD HOLDINGS Corporate Presentation 25 Industry Overview & Market Trends: Cards ACAG is the leader in smart cards for Fintech in Europe, and growing in North America EUROPE NORTH AMERICA 68.7 million 34 49.5 million 4.5 Challenger Bank cards issued in 2024 (+10% vs. 2023) (from zero million
Slide 26: Industry Overview & Market Trends: VISA & MASTERCARD Cards
AUSTRIACARD HOLDINGS Corporate Presentation 26 Industry Overview & Market Trends: VISA & MASTERCARD Cards Cards in circulation (m) CAGR 2016-24 1,507 +7.2% 1,500 US 906 938 +9.7% EUROPE 862 697 692 +3.5% +7.6% 701 711 US 531 EUROPE 432 +3.1% 411 430 CEMEA 322 391 2016 2017 2018 2019 2020 2021 2022 2
Slide 27: Industry Overview & Market Trends: Smart & Metal Cards
AUSTRIACARD HOLDINGS Corporate Presentation 27 Industry Overview & Market Trends: Smart & Metal Cards Global Smart Card Market Size Global Metal Credit Cards Market Size USDbn CAGR USDbn 2025-30 CAGR 30.6 2024-33 21.0 +8.6% +24.4% 20.3 2.9 2025 2030 2024 2033 Expanding national Rising demand for Con
Slide 28: Industry Overview & Market Trends: Fintech & Challenger Banks
AUSTRIACARD HOLDINGS Corporate Presentation 28 Industry Overview & Market Trends: Fintech & Challenger Banks ACAG has a leading position with Challenger Banks Global Fintech Market Size Top-5 Challenger Banks in Europe USDbn CAGR Customers (m) 2024-33 AUSTRIACARD clients 920 +16% 50 40 228 30 20 202
Slide 29: Payments and Banking as a Service
AUSTRIACARD HOLDINGS Corporate Presentation 29 Payments and Banking as a Service CARD AS A SERVICE Onboarding Card Issuance Payment AI/ML Financial Growth & Compliance & Enablement Processing Management Opportunities Secure BIN Sponsorship Issuer Processing Ledger Hyper Personalised Onboarding IBAN
Slide 30: Move up the value chain
AUSTRIACARD HOLDINGS Corporate Presentation 30 Owning the Secure Citizen Identity Value Chain: From Components to End-to-End Solutions Move up the value chain Enrolment Validation Personalisation Verification Document Print & Encoding AFIS/ABIS & Data Document reader Bio & Data ID Production Managem
Slide 31: Document Lifecycle Management
AUSTRIACARD HOLDINGS Corporate Presentation 31 Document Lifecycle Management
Slide 32: Document Lifecycle Management
AUSTRIACARD HOLDINGS Corporate Presentation 32 Document Lifecycle Management Production of high-security-personalized National Examination Papers with traceability services Security Documents & • personalized question booklets and answer sheets, supported by traceability services for Traceability na
Slide 33: Appendix I: Group Information
AUSTRIACARD HOLDINGS Corporate Presentation 33 Appendix I Group Information
Slide 34: Key Milestones
AUSTRIACARD HOLDINGS Corporate Presentation 34 Key Milestones 1897 2000 2012 2020 2023 Foundation of Establishment of New smart card New smart card ATHEX & VSE listing printshop by P. Lykos INFORM LYKOS personalization center in personalization ROMANIA Poland center in USA Completion of cross-border
Slide 35: Key Competitors
AUSTRIACARD HOLDINGS Corporate Presentation 35 Key Competitors Our strengths Strategic EU Footprint Close proximity to our core markets enables faster response times and stronger client engagement Client-Centric Agility Proven ability to adapt quickly to evolving client requirements, with a strong t
Slide 36: Appendix II: Case Studies
AUSTRIACARD HOLDINGS Corporate Presentation 36 Appendix II Case Studies
Slide 37: Key Projects
AUSTRIACARD HOLDINGS Corporate Presentation 37 Key Projects Romanian Bank • Document Digitization solution (incl. digitizing the historical archive and daily created loan contracts) • Document Management System for electronic bills o easy file organization and categorization Largest Greek Energy com
Slide 38: Case study: Romanian Financial Institution
AUSTRIACARD HOLDINGS Corporate Presentation 38 Case study: Romanian Financial Institution Generative AI-based document understanding & assignment • Leveraged our in-house developed Generative AI technology, integrating the latest technologies and natural language instructions, to automate document c
Slide 39: Case study: Romanian Bank
AUSTRIACARD HOLDINGS Corporate Presentation 39 Case study: Romanian Bank Asset Management & Patrimony along with electronic archiving • Implemented our Assets Management solution to centralize and streamline real estate asset documentation by integrating a structured, hierarchical classification wit
Slide 40: Case study: Greek Public Sector
AUSTRIACARD HOLDINGS Corporate Presentation 40 Case study: Greek Public Sector Digital Transformation & automation of the pension awarding system • For years, the pension award process was time-consuming, resulting in hundreds of thousands of pension requests being delayed. • Our AI-enabled Data Man
Slide 41: Case study: Greek Public Sector
AUSTRIACARD HOLDINGS Corporate Presentation 41 Case study: Greek Public Sector Digital Transformation of the Government's mission critical ministries • The Greek government is currently executing the RRF digital transformation roadmap at all critical ministries, including the scanning of governmenta
Slide 42: Appendix III: Consolidated Financial Statements
AUSTRIACARD HOLDINGS Corporate Presentation 42 Appendix III Consolidated Financial Statements
Slide 43: Income Statement in € thousand
AUSTRIACARD HOLDINGS Corporate Presentation 43 Income Statement in € thousand FY2024 FY2023 Revenues 392,285 364,563 Cost of sales (297,730) (276,255) Gross profit 94,555 88,308 Other income 4,987 3,837 Selling and distribution expenses (23,338) (23,483) Administrative expenses (31,447) (28,222) Res
Slide 44: Income Statement in € thousand
AUSTRIACARD HOLDINGS Corporate Presentation 44 Income Statement in € thousand H1 2025 H1 2024 Revenues 163,621 195,374 Cost of sales (126,854) (146,278) Gross profit 36,766 49,096 Other income 2,482 1,985 Selling and distribution expenses (11,087) (11,851) Administrative expenses (14,682) (16,372) R
Slide 45: Balance Sheet in € thousand
AUSTRIACARD HOLDINGS Corporate Presentation 45 Balance Sheet in € thousand 30 June 2025 31 December 2024 31 December 2023 Property, plant and equipment and right of use assets 97,475 100,545 96,275 Intangible assets and goodwill 57,092 59,555 55,526 Equity-accounted investees 423 395 324 Other recei
Slide 46: Cash Flow Statement in € thousand FY2024
AUSTRIACARD HOLDINGS Corporate Presentation 46 Cash Flow Statement in € thousand FY2024 FY2023 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 10,391 - Other non-cash trans
Slide 47: Cash Flow Statement in € thousand H1 2025
AUSTRIACARD HOLDINGS Corporate Presentation 47 Cash Flow Statement in € thousand H1 2025 H1 2024 Cash flows from operating activities Profit/(Loss) before tax 3,833 14,854 Adjustments for: - Depreciation, amortization and impairment 9,587 8,228 - Net finance cost 4,251 3,846 - Other non-cash transac
Slide 48: Group Segments FY2024 FY2023
AUSTRIACARD HOLDINGS Corporate Presentation 48 Group Segments FY2024 FY2023 MEA Corporate & Total MEA Corporate & Total in € thousand WEST CEE IAS 29 Total WEST CEE IAS 29 Total excl. IAS 29 Eliminations excl. IAS 29 excl. IAS 29 Eliminations excl. IAS 29 Revenues 127,370 185,923 72,047 0 385,340 6,
Slide 49: Group Segments H1 2025 H1 2024
AUSTRIACARD HOLDINGS Corporate Presentation 49 Group Segments H1 2025 H1 2024 Corporate & Corporate & in € thousand WEST CEE MEA Total WEST CEE MEA Total Eliminations Eliminations Revenues 52,930 100,406 16,309 (6,024) 163,621 63,354 104,693 40,798 (13,472) 195,374 Intersegment revenues 1,754 3,553
Slide 50: Thank you
AUSTRIACARD HOLDINGS Corporate Presentation 50 Thank you 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
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