Azkoyen, S.A. Announces Earnings Results for the First Quarter of 2017; Provides Earnings Guidance for the Year 2017
May 09, 2017
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Azkoyen, S.A. announced earnings results for the first quarter of 2017. For the quarter, the EBITDA increased approximately 18%, to EUR 4.9 million. Financial debt reduced 80.5% to EUR 2.3 million. Net profit of EUR 2.4 million in the first three months of 2017, in other words a profit increase of 39.4% over the first quarter of 2016. Azkoyen registered an EBIT of EUR 3.8 million after an increase of 28.7%.
For the year 2017, the company expects a moderate increase in sales income and an EBITDA slightly higher than the previous year, with certain increases in fixed expenses, chiefly sales and R+D.
Azkoyen SA is a Spain-based company primarily engaged in the manufacture of vending machines. The Companyâs activities are divided into three business segments: Vending Machines, which focuses on the production and sale of vending machines for tobacco, coffee, cold and hot drinks, as well as snacks; Payment Systems, which is responsible for the design, manufacture and marketing of solutions for cash management, connectivity and cashless systems, such as automatic coin selection, counting and returning, as well as credit card readers, and Technology and Security Systems, which offers software and hardware for access control and time recording. The Company distributes products under various brand names, such as Azkoyen, Coffetek, Azkoyen Payment Technologies, Coges and Cashlogy, as well as primion. It operates numerous subsidiaries in Europe and Latin America.