Austriacard Holdings Ag · ATHEX:ACAG
Austriacard — Investor Presentation (September 2026)
55 slides from Austriacard's investor presentation, September 2026
Slide 1: Corporate Presentation
Corporate Presentation September 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 Any offer or sale of securities to QIBs in the United States will be made only pursuant to an applicable exemption under the Securities Act and in inten
Slide 3: Contents
Contents 6. An attractive investment case 17. Growth Strategy 21. Digital Technologies 26. Identity & Payment 34. Document Lifecycle Management 36. Appendix I – Group Information 42. Appendix II – Case Studies 46. Appendix III – Market Statistics 49. Appendix IV – Consolidated Financial Statements A
Slide 4: Voluntary Takeover Offer by Dai Nippon Printing Co. Ltd (DNP)
Voluntary Takeover Offer by Dai Nippon Printing Co. Ltd (“DNP”) o Offer values AUSTRIACARD’s entire issued share capital at approx. €364m DNP has published an all-cash voluntary o Approx. 20-24% premium1 to last closing prices on May 12 (prior to announcement) Key Offer Terms public takeover offer a
Slide 5: High Level Timeline of DNP's Voluntary Takeover Offer
High Level Timeline of DNP’s Voluntary Takeover Offer June July August September October November December Q1 2027 Acceptance Period (10 weeks) 96.55% Settlement of shares tendered during the Acceptance Period: (12 June 2026 - 21 August 2026) of shareholders Payment is due no later than 10 exchange
Slide 6: An attractive investment case
An attractive investment case AUSTRIACARD HOLDINGS Corporate Presentation 6
Slide 7: A global applied technology company, powering secure digital transformation globally
A global applied technology company, powering secure digital transformation globally Global provider of Identity & Payment, Document Lifecycle Revenues EBITDA Net Profit Management, and Digital Technology solutions €360m €49m €16m Focused on driving digital transformation through 13.6% margin propri
Slide 8: A global footprint across EMEA and the US
Leyland • UK Warsaw • Poland Bucharest • Romania Card Production Card Production Perso PVC 11Mu PVC 110Mu EMV 30Mu Perso Perso EMV 8Mu EMV 8Mu Commercial 50Mu Offset Printing 4,000 tons Digital Printing Madrid • Spain 2,000 tons Perso EMV 8Mu Istanbul • Türkiye Perso EMV 54Mu La Vella • Andorra Card
Slide 9: A diversified Solutions & Services Portfolio
A diversified Solutions & Services Portfolio Digital Technologies Identity & Payment solutions Document Lifecycle Management Artificial Intelligence Empowered Solutions & Payment cards Secure Digital Printing GaiaB™ Appliance Remote KYC/KYB Card as a service (CaaS) Personalized Digital Printing Onbo
Slide 10: 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 2022-25 2022-25 +5% +16% +50% €m EBITDA margin All financial information is based on 2025 Annual Financial Report and previous years Annual Financial Reports. Αll amounts and percentage
Slide 11: …with a solid financial position…
…with a solid financial position… Net Debt & Leverage1 Total Assets CAGR Total Equity CAGR 2022-25 2021-25 Net Debt / EBITDA (x) +7% +19% €m All financial information is based on 2025 Annual Financial Report and previous years Annual Financial Reports. Αll amounts and percentages presented herein ar
Slide 12: …strong cash generation and disciplined capital allocation…
…strong cash generation and disciplined capital allocation… Net Working Capital Operating Cash Flow Free Cash Flow1 % of Revenues % of adj. EBITDA CAPEX % of Revenues All financial information is based on 2025 Annual Financial Report and previous years Annual Financial Reports. Αll amounts and perce
Slide 13: …a well diversified Revenue mix supported by a global exposure
…a well diversified Revenue mix supported by a global exposure Revenues per Solution Revenues per Geographic segment1 €m Western Europe, Document Lifecycle Group Central Eastern Türkiye, Middle East & Identity & Payment Digital Technologies Nordics, Americas Management Total Europe & DACH (CEE) Afri
Slide 14: A seasoned Management team with a proven track record
A seasoned Management team with a proven track record of driving growth and operational excellence Manolis Kontos Dr. Mohamed Chemloul Markus Kirchmayr Jon Neeraas Burak Bilge Chairman Management Vice Chairman Management Group CFO EVP Western Europe, Nordics, EVP Türkiye, Middle East & Board & Group
Slide 15: Shareholder Structure
Shareholder Structure 96.55% accepted DNP’s Voluntary Takeover Offer 35,099,096 shares Total Shares Outstanding 36,353,868 3.45% did not tender at the initial Acceptance Period • Dual Listing: Vienna (VSE) & Euronext Athens 1,254,772 shares • Commencement of Trading: 23 March 2023 • Sector: Technolo
Slide 16: Key Investment Highlights
Key Investment Highlights Strategically located Diversified end-to-end A platform built for scale global footprint enabling solutions portfolio with with a proven track superior lead times, strong cross-synergy record of growth delivery agility, and potential customer proximity Proprietary technolog
Slide 17: Growth Strategy
Growth Strategy AUSTRIACARD HOLDINGS Corporate Presentation 17
Slide 18: Our Growth Strategy Pillars
Our Growth Strategy Pillars Geographic Market share Products & services Value expansion expansion portfolio enhancement accretive M&A • Focus areas to develop cutting-edge • Transition from a product supplier • Transition to high-margin, solution- • Disciplined, criteria-driven products & comprehens
Slide 19: Our Products & Services Portfolio Enhancement Strategy
Our Products & Services Portfolio Enhancement Strategy • Shift to solution-led, recurring revenue models Payment and Banking Objectives • Deepen client relationships through platform integration & lifecycle services • Scale digital services to capture margin-accretive growth solutions as a service P
Slide 20: 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 revenue pipeline Solid backlog of customer onboardings in WEST Roll-out (i) Card-as-a-Service
Slide 21: Digital Technologies
Digital Technologies AUSTRIACARD HOLDINGS Corporate Presentation 21
Slide 22: Digital Technologies
Digital Technologies A key growth contributor with a series of technologically advanced solutions Artificial Intelligence • Digital Payments Empowered Solutions & GaiaB™ Appliance • Enterprise Content Management and Content Understanding through AI • Document Digitization and Electronic Archiving •
Slide 23: Industry Overview & Market Trends: Digital Transformation
Industry Overview & Market Trends: Digital Transformation Global Digital Transformation market CAGR 2024-302 • Cloud migration & platform modernization to optimize costs and scale USDbn +24% • AI/ML adoption (Generative AI & analytics) to enhance decisioning and process automation Growth • Cybersecu
Slide 24: Greek Public Sector Digital Transformation: a key driver of Digital Technologies Revenue growth
Greek Public Sector Digital Transformation: a key driver of Digital Technologies Revenue growth Digital Technologies Greek Public Sector Digital Transformation % of Group Revenues Awarded Projects To Date €m Received / Total Remaining Recognised (recognised from CAGR 2023-25 Contract Value (cumulati
Slide 25: GaiaB Appliance: An important collaboration with Dell Technologies
GaiaB™ Appliance An important collaboration with Dell Technologies • Development and market of an advanced Generative AI solution for the automation of business processes & operations • Enables businesses of all sizes (from SMEs to large multinationals) to use cutting-edge AI technologies, while mai
Slide 26: Identity & Payment Solutions
Identity & Payment Solutions AUSTRIACARD HOLDINGS Corporate Presentation 26
Slide 27: Identity & Payment solutions
Identity & Payment solutions • Production and personalization of a high volume of our innovative metal cards Payment cards • Production of National IDs, e-IDs, Health cards with high-security elements • Expansion into the MEA region with a holistic system offering, covering the full identity lifecyc
Slide 28: Industry Overview & Market Trends: Payment Cards
Industry Overview & Market Trends: Payment Cards EUROPE NORTH AMERICA 68.7 million 34 million 49.5 million 4.5 Challenger Bank cards issued2 in 2024 (+10% vs. 2023) (vs. zero in Challenger Bank cards manufactured Challenger Bank cards issued2 in 2024 (+10% vs. 2023) (vs. zero in million and/or perso
Slide 29: Industry Overview & Market Trends: VISA & MASTERCARD Cards
Industry Overview & Market Trends: VISA & MASTERCARD Cards Cards in circulation (m) CAGR CAGR 2016-25 2016-25 +6.9% US +9.5% EUROPE +7.1% +3.6% US EUROPE +4.4% CEMEA Source: VISA and MASTERCARD Quarterly Operational Performance AUSTRIACARD HOLDINGS Corporate Presentation 29
Slide 30: Industry Overview & Market Trends: Smart & Metal Cards
Industry Overview & Market Trends: Smart & Metal Cards Global Smart Card Market Size Global Metal Payment Cards Market Size USDbn CAGR USDbn 2025-30 CAGR 2025-32 +8.6% +10.3% +10% Rising demand for Technological Expanding national Rising disposable Premiumization Contactless EMV innovation & rising
Slide 31: Industry Overview & Market Trends: Fintech & Challenger Banks
Industry Overview & Market Trends: Fintech & Challenger Banks ACAG has a leading position with Challenger Banks Global Fintech Market Size Top European Neobanks USDbn Customers (m) CAGR AUSTRIACARD clients 2024-33 +16% Growing cyber Government Increasing adoption attacks in the initiatives for digit
Slide 32: Payments and Banking as a Service
Payments and Banking as a Service CARD AS A SERVICE Onboarding Card Issuance Payment Transaction & Compliance Processing Management eKYC/AML BIN Sponsorship Issuer Processing Fraud Fraud Prevention Virtual Cards Apple & Google Pay Reconciliation Report Physical Cards & White Label UI R Ledger Person
Slide 33: Owning the Secure Citizen Identity Value Chain
Owning the Secure Citizen Identity Value Chain: From Components to End-to-End Solutions Enrolment Validation Personalisation Verification Move up the value chain Document Print & Encoding Bio & Data Capture AFIS/ABIS & Data Document reader Management ID Production & Verification Leverage internal IP
Slide 34: Document Lifecycle Management
Document Lifecycle Management AUSTRIACARD HOLDINGS Corporate Presentation 34
Slide 35: Document Lifecycle Management
Document Lifecycle Management National Examination Papers • high security, personalized question booklets & answer sheets, supported by traceability services for Secure Digital Printing national distribution and scanning of answer sheets to capture and validate answer data General Elections • high s
Slide 36: Appendix I: Group Information
Appendix I Group Information AUSTRIACARD HOLDINGS Corporate Presentation 36
Slide 37: Decades of experience, consistently adapting to evolving client needs
Decades of experience, consistently adapting to evolving client needs Building Foundations Scaling into a Multinational Accelerating Technology-Led (1897-2007) End-to-End Provider Transformation (2007-2019) (2019-Ongoing) Founded in 1897 by P. Lykos as a printshop, the Strategic acquisitions establi
Slide 38: Proven track record of value-accretive, synergistic M&A
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/Synergies Consideration • Facilitated the Group’s tran
Slide 39: Key Competitors
Key Competitors Our strengths Close proximity to our core markets enables faster Strategic EU Footprint response times and stronger client engagement Proven ability to adapt quickly to evolving client Client-Centric Agility requirements, with a strong track record in Fintech payment solutions Fully
Slide 40: Shifting Revenue Mix: More higher-margin Solutions and Services
Shifting Revenue Mix: More higher-margin Solutions and Services Solutions Geographic Segments1 FY2025 FY2024 €360m €392m Document Western Europe, Central Eastern Identity & Digital Türkiye, Middle Lifecycle Nordics, Americas Europe & DACH Payment Technologies East & Africa (MEA) Management (WEST) (C
Slide 41: Supervisory Board
Supervisory Board Experienced. Independent. Aligned with Shareholders. John Costopoulos Mr. Martin Wagner Nikolaos Lykos Dr Stefano Brusoni Chairman of the Supervisory Deputy Chairman of the Member of the Supervisory Member of the Supervisory Board and Chairman of the Supervisory Board & Board Board
Slide 42: Appendix II: Case Studies
Appendix II Case Studies AUSTRIACARD HOLDINGS Corporate Presentation 42
Slide 43: Key Projects — Digital Technologies
Key Projects — Digital Technologies Romanian Bank • Document Digitization solution (incl. digitizing the historical archive and daily created loan contracts) Largest Greek Energy • Document Management System for electronic bills o easy file organization and categorization company o secure user manag
Slide 44: Key Projects — Identity & Payment solutions
Key Projects — Identity & Payment solutions European Fintech Bank • Production and personalization of a high volume of our innovative metal cards Fintech Bank • Production and personalization of a high volume of cards globally Large Austrian Bank • Mastercard debit card production & full daily perso
Slide 45: Key Projects — Document Lifecycle Management
Key Projects — Document Lifecycle Management National Examinations in West • Production of high-security Examination Papers with traceability services Africa (MEA) • Creation of personalized question papers and answer sheets with candidates’ register data and unique printing features to secure their
Slide 46: Appendix III: Market Statistics
Appendix III Market Statistics AUSTRIACARD HOLDINGS Corporate Presentation 46
Slide 47: Industry Overview & Market Trends: Total Cards in EU countries
Industry Overview & Market Trends: Total Cards1 in EU countries Cards in circulation (m) 5-year CAGR 2019-2024 +11.3% +4.7% AUSTRIA GERMANY +5.1% ROMANIA +3.8% +5.7% GREECE SPAIN +1.5% POLAND 1. Total Cards with at least one function issued by resident Payment Service Providers (PSPs) Source: ECB AU
Slide 48: Industry Overview & Market Trends: Cards Personalization
Industry Overview & Market Trends: Cards Personalization Services1 Solutions2 CAGR CAGR USDbn 2025-29 USDbn 2025-29 +8% +8% +8% +8% Rising adoption of Introduction of Demand for secure & Expansion of smart Expansion of Focus on biometric mobile wallets & advanced contactless payment cities and digit
Slide 49: Appendix IV: Consolidated Financial Statements
Appendix IV Consolidated Financial Statements AUSTRIACARD HOLDINGS Corporate Presentation 49
Slide 50: Income Statement (Management Reporting) FY2025 FY2024
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 51: 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 52: Group Segments FY2025 FY2024
Group Segments FY2025 FY2024 Corporate & Corporate & in € thousand CEE WEST MEA Eliminations Total CEE WEST MEA Eliminations Total 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 53: Balance Sheet 31 December 2025 and 2024
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 54: 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 55: AUSTRIACARD HOLDINGS contact details
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 Corporate Presentation 55
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