- 21.03.2024, 18:59:22
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- EQS0018
EQS-News: AUSTRIACARD HOLDINGS AG ANNOUNCES FY 2023 RESULTS
EQS-News: AUSTRIACARD HOLDINGS AG / Key word(s): Annual Results/Annual
Results
AUSTRIACARD HOLDINGS AG ANNOUNCES FY 2023 RESULTS
21.03.2024 / 18:58 CET/CEST
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
March 21^st, 2024: AUSTRIACARD HOLDINGS AG (ACAG) posts another year with
very strong revenue and profitability growth.
• Group Adj. Revenues* during FY 2023 increased by 13.2% reaching €
351.3m. Excluding the effect of the one-off Kenyan elections project
in 2022, comparable revenues increased by 23.0%, or € 65.8m.
• Growth driven by strong performance in Secure Chip & Payments, Digital
Transformation Solutions in Central Eastern Europe, consolidation of
Romanian postal activities.
• FY 2023 Group Adj. EBITDA grew by 27.2% and reached € 49.3m, with a
margin of 14.0% compared to 12.5% in FY 2022. Excluding Kenya, Adj.
EBITDA grew by 50.6%.
• Net Income for the period increased by 220.9% to € 17.0m, with a
margin of 4.8% compared to 1.7% in FY 2022, due to strong operating
performance and significantly less adjustments.
• Dividend of €0.10 per share to be proposed to the AGM.
*Excluding the effect of IAS29 (Hyperinflation accounting) with respect
to the Türkiye-based operations. Reported IFRS FY 2023 Group Revenues were
€ 364.6mn.
CEO COMMENTARY
AUSTRIACARD HOLDINGS AG Group-CEO, Manolis Kontos, noted:
“2023 was a remarkable, transformational year for AUSTRIACARD. In March,
through a merger with our already listed sub INFORM in Greece our shares
were listed in both the Vienna and Athens exchanges, enabling investors to
participate in the successful course of the whole Group. In the middle of
the year we proceeded with the reorganization of our businesses along
geographic clusters, facilitating faster expansion in new markets,
enhancing at the same time cross selling and customer service. In December
we also completed our refinancing at Group level, securing significant
financial flexibility to pursue our growth objectives.
We posted one more year of strong growth in both revenues and
profitability. Group Adj. Revenues grew by 13.2%, Adj. EBITDA by 27.2%
and Net Income by 220.9%. If we exclude the Kenyan elections project
effect from 2022 results, the respective increases are 23.0% in Adj.
Revenues and 50.6% in Adj. EBITDA.
Performance was very strong in Central Eastern Europe & DACH, where Adj.
Revenues grew by 35.2% reaching €224.6mn and Adj. EBITDA by 166.8%
reaching €30.3mn, driven by Secure Chip & Payment, Digital Transformation
Solutions and consolidation of Romanian postal operations. In Western
Europe, Nordics & Americas, Adj. Revenues were flat at €116.0mn with Adj.
EBITDA at €17.9mn, affected mainly by the US regional bank turmoil in H2
2023. The US market remains a priority for the Group and we anticipate
strong contribution in the years to come. In the Türkiye, Middle East &
Africa segment, Adj. Revenues declined by 3.0% to €53.7mn and Adj. EBITDA
reached €4.9mn, due to the Kenyan elections comparable. Ex. Kenya, the
segment’s Adj. Revenues grew by 76.0% and Adj. EBITDA by 68.1%. The
performance in Türkiye reflects the ability of the Group in bringing
results in the markets we focus to grow our market share. (All segment
figures are displayed pre intragroup eliminations).
AUSTRIACARD just completed one year as a listed company and to reward our
shareholders we plan to propose to the AGM the distribution of a €0.10 per
share dividend.
Finally, on behalf of the Board I want to extend our warmest wishes to
Panagiotis Spyropoulos, our departing Group CEO. Panagiotis has been
instrumental, during the 13 years that he was at the helm, in expanding
AUSTRIACARD across all axes, geographic reach, size and profitability. We
thank him for his hard work, talent, loyalty and determination.”
1-12 2023 BUSINESS PERFORMANCE
The following analysis is based on the business performance as monitored
by Group management excluding effects of IAS 29 Hyperinflation accounting.
The reported IFRS FY2023 Results of the Group can be found in the
corporate website
https://www.austriacard.com/investor-relations-ac/financial-reporting-ac/.
Key performance indicators 1-12 2023 1-12 2022 D '23-'22 D '23-'22 %
in € million
Revenue 351.3 310.3 40.9 13.2%
Gross profit I 158.8 138.0 20.7 15.0%
Gross profit I margin 45.2% 44.5% 0.7% n/a
Gross profit II 86.8 74.4 12.3 16.6%
Gross profit II margin 24.7% 24.0% 0.7% n/a
OPEX excluding depreciation and (111.7) (98.5) (13.2) 13.4%
impairment
OPEX excluding depreciation and -31.8% -31.7% -0.1% n/a
impairment as % on sales
adjusted EBITDA 49.3 38.7 10.6 27.2%
adjusted EBITDA margin 14.03% 12.48% 1.55% n/a
adjusted EBIT 33.2 24.3 8.8 36.3%
adjusted EBIT margin 9.4% 7.8% 1.6% n/a
adjusted Profit before tax 26.1 20.1 6.0 29.9%
adjusted Profit before tax 7.4% 6.5% 1.0% n/a
margin
adjusted Profit after tax 21.9 16.7 5.2 31.3%
adjusted Profit after tax margin 6.2% 5.4% 0.9% n/a
Profit after Tax 17.0 5.3 11.7 220.9%
Profit after Tax margin 4.8% 1.7% 3.1% n/a
Net Equity / Total Assets 33.3% 29.9% 3.4% n/a
Operating Cash Flow 9.1 40.9 (31.8) -77.7%
Operating Cash Flow as % on 2.6% 13.2% -10.6% n/a
sales
Net Working Capital 58.2 23.0 35.2 152.7%
Net Working Capital as % on 16.6% 7.4% 9.2% n/a
sales
Net Debt / adjusted EBITDA 1.9 2.0 (0.0) n/a
Business Performance
AUSTRIACARD HOLDINGS Group revenues reached € 351.3m increasing by €
40.9m or 13.2% compared to 2022. The main drivers of this revenue increase
are attributed to a strong performance of the Secure Chip & Payment
Solutions
(€ +27m), especially in Central Eastern Europe & DACH, as well as Türkiye.
This amount includes € 9.5m revenues related to not-yet invoiced Contract
assets. The number of sold and invoiced cards increased by 7.1m or 5.6%
from 127.7m to 134.8m cards. Revenues from postal and distribution
services grew by € 20.0m mainly attributable to the Romanian market
through the majority stake acquisition of Pink Post solutions business.
Additionally, revenues in the field of digitalization solutions increased
by € 6.0m due to the start of the implementation of the public
digitalization projects in Greece and continued business growth in that
area in general. This strong performance in Secure Chip & Payment and
Digital Transformation Solutions, the two technology based pylons of the
Group, together with general improvement in other sectors more than
compensated the reduction in security printing related to the Kenya
elections project implemented 2022.
Gross profit I increased by € 20.7m or 15.0% to € 158.8m in 2023 as a
result of the strong increase in revenues. The Gross margin I increased by
0.7 percentage points to 45.2% mainly due to a higher average sales price
and the increase in service related revenues such as Document
Digitalization and distribution services.
Gross profit II increased by € 12.3m or 16.6% to € 86.8m in 2023 and Gross
margin II increased by 0.7 percentage points to 24.7% due to revenue
growth and economies of scale as result of the higher utilization of the
group’s production facilities.
Operating expenses excluding depreciation, amortization and impairment
(OPEX) increased by € 13.2m or 13.4% from € 98.5m to € 111.7m in 2023
mainly due to the addition of the Pink Post distribution business in
Romania (€ 10.0m), the finalization of the set-up of the personalization
facility in the US (€ 2.6m), higher headquarters expenses in the wake of
the listing at the Athens and Vienna stock exchanges and the
reorganization of group management (€ 1.4m). Also, OPEX increased as a
result of business growth, combined with inflationary salary and costs
increases, that more than offset the reduction in OPEX related to the
Kenya election project implemented in 2022 (€ -8.5m). As percentage of
revenues Operating expenses remained stable at 31.8% compared to 31.7% in
2022.
Adjusted EBITDA increased by € 10.6m or 27.2% from € 38.7m to € 49.3m in
2023, as a result of the strong operating performance of Secure Chip &
Payment Solutions in the Central Eastern Europe & DACH as well as Türkiye
markets, the consolidation of the Pink Post distribution business and the
growth of Digital Transformation Solutions, which more than compensated
higher OPEX requirements and the Kenya election project effect in 2022. As
a result, adjusted EBITDA margin increased by 1.6 percentage points from
12.5% to 14.0%.
Adjusted EBIT increased by € 8.8m or 36.3% reaching € 33.2m as the
increase in adjusted EBITDA was only partially compensated by higher
depreciation & amortization mainly related to recent investments. Adjusted
Profit before tax increased by € 6.0m or 29.9% reaching € 26.1m as the
higher adjusted EBIT was partially offset by higher interest expenses
driven by the increase in Euribor.
Profit after tax increased by € 11.7m and thus more than tripled from €
5.3m to € 17.0m due to the adjusted Profit before tax and the reduction of
non-cash expenses for management participation programs by € 5.0m.
Pro forma business performance excluding Kenya election project
As presented in the table below, excluding the effects of the Kenya
election project implemented in 2022 Revenues have increased by 23.0%,
Gross Profit II by 28.9% as the Gross profit II margin improved by 1.1
percentage points from 23.6% to 24.7% based on average sales price
increases, economies of scale and a higher contribution of services and
solutions, which have a higher margin, in revenues. OPEX in absolute terms
increased by 24.3% while OPEX as a percentage of revenues slightly
increased by 0.3 percentage points compared to 2022. Adjusted EBITDA
increased by 50.6% and the adjusted EBITDA margin improved by 2.6
percentage points to 14.0% in 2023.
pro forma Key financial
indicators
excl. 2022 Kenya election 1-12 2023 1-12 2022 D '23-'22 D '23-'22 %
project
in € million
Revenue 351.3 285.5 65.8 23.0%
Gross profit I 158.8 122.4 36.4 29.7%
Gross profit I margin 45.2% 42.9% 2.3% n/a
Gross profit II 86.8 67.3 19.4 28.9%
Gross profit II margin 24.7% 23.6% 1.1% n/a
Total OPEX excluding (111.7) (89.9) (21.8) 24.3%
depreciation
Total OPEX excluding 31.8% 31.5% 0.3% n/a
depreciation as % on sales
adjusted EBITDA 49.3 32.7 16.6 50.6%
adjusted EBITDA margin 14.0% 11.5% 2.6% n/a
Effect of IAS 29 Hyperinflation
As presented in the table below, the application of IAS 29 Hyperinflation
with respect to our Türkiye-based operations, hyperinflation accounting
increased Revenues by € 13.3m reaching € 364.6m in 2023 compared to by €
4.4m reaching
€ 314.7m in 2022. Hyperinflation accounting is also increasing adjusted
EBITDA, adjusted EBIT and adjusted Profit before tax in the IFRS Income
statement compared to the Management Income statement by € 1.3m, € 1.2m
respectively
€ 1.1m each in 2023 compared to € 0.4m in 2022. Due to the negative impact
of IAS 29 in Net finance costs, Profit before tax and Profit as per
Management Income statement are lower by € 0.2m in 2023 and by € 0.3m
respectively € 0.4m lower in 2022.
2023 2022
Impact of
hyperinflation IAS29 IAS29
in € million IFRS Effect MGMT IFRS Effect MGMT
Revenues 364.6 13.3 351.3 314.7 4.4 310.3
Gross Profit I 161.3 2.5 158.8 138.8 0.8 138.0
Gross Profit II 88.3 1.5 86.8 74.9 0.4 74.4
OPEX (113.0) (1.3) (111.7) (98.9) (0.4) (98.5)
adjusted EBITDA 50.4 1.2 49.3 39.1 0.4 38.7
adjusted EBIT 34.3 1.2 33.2 24.7 0.4 24.3
adjusted Profit before 27.3 1.1 26.1 20.5 0.4 20.1
tax
Profit before tax 21.0 (0.2) 21.2 8.4 (0.3) 8.7
Profit 16.8 (0.2) 17.0 4.8 (0.4) 5.3
Financial Position
Total assets increased by € 51.5m from € 270.2m to € 321.7m as of 31
December 2023 which is mainly related to increases in inventories for raw
materials, goods-in-transit (€ +22.2m) and contract assets (€ +9.5m) and
restricted cash deposits received from customers included in other
receivables and contract liabilities (€ +8.1m). Non-current assets
increased by € 3.0m to € 156.8m mainly due to the cyclical revaluation of
land and buildings and the effects of hyperinflation accounting for the
operations in Türkiye (€ +2.5m) and investments in machinery which were
partially offset by depreciation and amortization and the reduction in
fair value of interest rate swaps for hedging purposes
(€ -1.4m).
Non-current liabilities increased by € 25.3m from € 90.0m to € 115.2m as a
result of the group-wide refinancing of loans & borrowings (€ +31.8m)
being partially offset by the derecognition of long-term liabilities for
management participation programs. Equity increased by € 26.3m due to the
Profit of the financial year and the implementation of the equity settled
stock option plan for senior group management (€ +9.4m). As a result of
the Company’s merger with its former subsidiary Inform P. Lykos Holdings
SA, Greece, non-controlling interest was reduced from € 11.6m to € 0.7m.
The Group’s equity ratio thus increased from 29.9% to 33.3% as of 31
December 2023.
Coming from a low level as of 31 December 2022, Net working capital
increased by € 35.1m or 152.5% from € 23.0m to
€ 58.2m due to the high level of Inventory and Contract assets. Net
working capital as a percentage of revenues increased from a very low
level in 2022 of 7.4%, after being at 15.8% in 2021 to 16.6% as of 31
December 2023.
Net Debt increased by € 18.5m from € 76.6m as of 31 December 2022 to €
95.0m as of 31 December 2023 due to the normalization and thus increase in
working capital requirements. The net debt / adjusted EBITDA ratio
decreased from 2.0 in 2022 to 1.9 as of 31 December 2023.
ABOUT AUSTRIACARD HOLDINGS AG
AUSTRIACARD HOLDINGS AG, headquartered in Vienna, with an international
presence and one of the leading providers of Secure Digital Technology
Solutions in Europe.
AUSTRIACARD HOLDINGS AG is the one of the leading B2B providers of smart
cards, personalization and payment solutions, as well as secure data
management and digitalization solutions, in Austria, Scandinavia, Central
and Eastern Europe and South Eastern Europe, while also having significant
market share in many other European countries and Türkiye. The Group is
expanding fast in geographical areas outside Europe, such as the USA where
it has established a new personalization center, and the Middle East &
Africa where sales units have been developed that have already drawn
significant new business. In addition, the Company has become a payment
products and solutions partner of choice for Challenger Banks/Neo Banks, a
growing market segment world-wide.
The Company has a very strong pan-European operational footprint, reaching
from the United Kingdom to Greece and Türkiye, with seven production
facilities and seven personalization centers in Europe, as well as an
additional personalization center in USA, employing currently around 2,600
people. It also has sales offices in Norway, Czech Republic, Germany,
Croatia, Serbia, Jordan, the UAE and a network of partners and selling
agencies around the world. This footprint enables the provision of a high
service level to our customers, confirmed by the very long-lasting
business relationships. The Group’s international customer base benefits
from a complementary product and services and solutions offering ranging
from bill printing, direct mailing and document processing to payment,
transit and ID cards increasingly bundled with online, mobile and
digitalization transformation solutions.
Contact person: Mr. Dimitrios Tzelepis, Executive Director, Capital
Markets, M&A and IR
Tel.: +43 1 61065 - 357
E-Mail: [email protected]
Website: www.austriacard.com
Symbol: ACAG
ISIN: AT0000A325L0
Stock Exchanges: Vienna Prime Market, Athens Main Market
APPENDIX
A. BUSINESS PERFORMANCE AND FINANCIAL POSITION
The following analysis is based on the business performance as monitored
by Group management excluding effects of IAS 29 Hyperinflation accounting.
Business D '23-'22
performance 1-12 2023 1-12 2022 D '23-'22 % Q4 2023 Q4 2022
in € million
Revenues 351.3 310.3 40.9 13.2% 89.8 79.1
Costs of material (192.5) (172.3) (20.2) 11.7%
& mailing (47.2) (47.2)
Gross profit I 158.8 138.0 20.7 15.0% 42.5 31.9
Gross margin I 45.2% 44.5% 0.7% 47.4% 40.4%
Production costs (72.0) (63.6) (8.4) 13.2% (18.9) (13.2)
Gross profit II 86.8 74.4 12.3 16.6% 23.6 18.7
Gross margin II 24.7% 24.0% 0.7% 26.3% 23.7%
Other income 3.8 2.9 0.9 31.1% 0.7 1.2
Selling and
distribution (23.3) (22.1) (1.2) 5.6%
expenses (6.9) (7.1)
Administrative (25.2) (20.9) (4.2) 20.3%
expenses (6.3) (7.3)
Research and
development (7.4) (6.3) (1.1) 17.7%
expenses (2.1) (1.6)
Other expenses (1.6) (3.8) 2.2 -57.2% (0.7) (1.9)
+ Depreciation,
amortization and 16.1 14.4 1.7 11.9%
impairment 4.5 4.0
adjusted EBITDA 49.3 38.7 10.6 27.2% 12.8 6.1
adjusted EBITDA 14.0% 12.5% 1.6% 14.3% 7.7%
margin
- Depreciation,
amortization and
impairment (16.1) (14.4) (1.7) 11.9% (4.5) (4.0)
adjusted EBIT 33.2 24.3 8.8 36.3% 8.4 2.1
Financial income 0.3 0.1 0.2 355.0% 0.1 0.0
Financial expenses (7.4) (4.4) (3.0) 68.9% (2.6) (1.4)
Result from
associated
companies 0.1 0.1 (0.1) -57.0% 0 0.1
Net finance costs (7.0) (4.2) (2.8) 67.2% (2.4) (1.3)
adjusted Profit 26.1 20.1 6.0 29.9% 5.9 0.8
(Loss) before tax
Adjustments (4.9) (11.4) 6.5 -56.9% (2.8) (6.3)
Profit (Loss) 21.2 8.7 12.5 3.1 (5.6)
before tax 142.1%
Income tax expense (4.2) (3.4) (0.8) 23.2% (0.8) (0.1)
Profit (Loss) 17.0 5.3 11.7 220.9% 2.4 (5.7)
Consolidated Statement of 31/12/2022
financial position 31/12/2023 restated D '23-'22 D '23-'22 %
in € million
Non-current assets 156.8 153.8 3.0 1.9%
Current assets 164.9 116.4 48.5 41.7%
Total assets 321.7 270.2 51.5 19.1%
Total Equity 107.2 80.8 26.3 32.6%
Non-current liabilities 115.2 90.0 25.3 28.1%
Current Liabilities 99.3 99.4 (0.1) -0.1%
Total Equity and Liabilities 321.7 270.2 51.5 19.1%
Statement of cash flows 1-12 2023 1-12 2022 D '23-'22 D '23-'22
in € million restated %
Cash flows from 9.1 40.9 (31.8) -77.7%
operating activities
Cash flows from (11.8) (17.4) 5.5 -31.8%
investing activities
Cash flows from 5.6 (12.8) 18.4 -143.8%
financing activities
Net (decrease) increase
in cash and cash 2.9 10.7 (7.9) -73.1%
equivalents
Capital expenditure
incl. right-of-use (18.3) (21.4) 3.1 -14.5%
assets, excl. M&A
(CAPEX)
Net Debt 31/12/2023 31/12/2022 D '23-'22 D '23-'22 %
in € million
Cash and cash equivalents (23.8) (21.6) (2.2) 10.2%
Loans and borrowings 118.9 98.2 20.6 21.0%
Net Debt 95.0 76.6 18.5 24.1%
B) PRIMARY FINANCIAL STATEMENTS
Consolidated statement of financial position
31 December 31 December 01 January
in € thousand 2023 2022 2022
restated restated
Assets
Property, plant and equipment and 96,275 90,418 82,955
right of use assets
Intangible assets and goodwill 55,526 57,166 60,651
Equity-accounted investees 324 292 260
Other receivables 2,386 4,533 634
Other long-term assets 136 318 500
Deferred tax assets 2,116 1,046 370
Non-current assets 156,764 153,772 145,370
Inventories 58,164 36,074 23,188
Contract assets 20,386 10,852 8,693
Current income tax assets 791 338 387
Trade receivables 44,677 40,037 29,267
Other receivables 17,082 7,501 8,026
Cash and cash equivalents 23,825 21,628 11,484
Current assets 164,924 116,431 81,046
Total assets 321,688 270,203 226,416
Equity
Share capital 36,354 16,862 14,638
Share premium 32,749 34,511 7,000
Other reserves 17,303 7,008 6,358
Retained earnings 19,995 10,825 25,275
Equity attributable to owners of 106,401 69,206 53,271
the Company
Non-controlling interests 753 11,610 12,971
Total Equity 107,154 80,816 66,242
Liabilities
Loans and borrowings 102,432 70,626 75,843
Employee benefits 4,207 10,897 4,532
Other payables 81 11 8,645
Deferred tax liabilities 8,497 8,424 8,261
Non-current liabilities 115,217 89,958 97,280
Current tax liabilities 2,968 3,529 1,645
Loans and borrowings 16,440 27,600 20,737
Trade payables 43,649 43,969 24,279
Other payables 18,317 13,790 11,879
Contract liabilities 17,442 7,073 4,158
Deferred income 501 3,405 132
Provisions 0 63 63
Current Liabilities 99,317 99,429 62,893
Total Liabilities 214,534 189,387 160,174
Total Equity and Liabilities 321,688 270,203 226,416
Consolidated income statement
in € thousand 1-12 2023 1-12 2022 Q4 2023 Q4 2022
restated restated
Revenue 364,563 314,720 103.046 83.509
Cost of sales (276,255) (239,855) (77.895) (64.357)
Gross profit 88,308 74,865 25.150 19.152
Other income 3,837 2,926 685 1.179
Selling and distribution expenses (23,483) (22,107) (6.992) (7.043)
Administrative expenses (28,222) (28,864) (7.462) (13.273)
Research and development expenses (7,360) (6,254) (2.120) (1.628)
Other expenses (1,675) (3,771) (774) (1.896)
+ Depreciation, amortization and 16,127 14,408 0 96
impairment
EBITDA 47,533 31,204 4.471 4.001
- Depreciation, amortization and (16,127) (14,408) 12.958 587
impairment
EBIT 31,406 16,796 (4.471) (4.001)
Financial income 534 76 375 1
Financial expenses (10,978) (8,606) (5.944) (2.582)
Result from associated companies 54 125 0 80
Net finance costs (10,391) (8,405) (5.569) (2.502)
Profit (Loss) before tax 21,015 8,390 2.917 (5.915)
Income tax expense (4,231) (3,544) (746) (207)
Profit (Loss) 16,784 4,847 2.171 (6.122)
Profit (Loss) attributable to:
Owners of the Company 15,812 4,150 1.801 (4.915)
Non-controlling interests 972 697 370 (1.207)
Profit (Loss) 16,784 4,847 2.171 (6.122)
Earnings (loss) per share
basic 0.65 0.28 0.05 (0.31)
diluted 0.61 0.28 0.05 (0.31)
Consolidated statement of cash flows
in € thousand 1-12 2023 1-12 2022
restated
Cash flows from operating activities
Profit (Loss) before tax 21,015 8,390
Adjustments for:
-Depreciation, amortization and impairment 16,127 14,408
-Net finance costs 10,391 8,405
-Net gain or loss on disposal of non-current assets (24) (685)
-Change in associated companies 32 32
-Change in provisions (143) 6,365
-Other non-cash transactions 3,402 2,839
50,800 39,755
Changes in:
-Inventories (22,090) (12,886)
-Contract assets (9,534) (2,160)
-Trade receivables and other receivables (14,221) (10,791)
-Contract liabilities 10,369 2,915
-Trade payables and other payables 180 25,670
Taxes paid (6,383) (1,630)
Net cash from (used in) operating activities 9,121 40,874
Cash flows from investment activities
Interest received 329 72
Proceeds from sale of property, plant and equipment 24 12
Dividends received from associated companies 22 14
Payments for acquisition of subsidiaries and (1,140) (2,905)
business, net of cash acquired
Payments for acquisition of property, plant and (11,065) (14,503)
equipment & intangible assets
Payments for acquisition of equity of other 0 (45)
companies
Net cash from (used in) investing activities (11,829) (17,355)
Cash flows from financing activities
Interest paid (7,700) (4,169)
Acquisition of non-controlling interests 0 (3,095)
Proceeds from loans and borrowings 107,905 12,770
Repayment of borrowings (90,807) (14,047)
Payment of lease liabilities (2,895) (3,799)
Dividends paid to non-controlling interest 0 (433)
Dividends paid to owners of the company (909) 0
Net cash from (used in) financing activities 5,594 (12,773)
Net increase (decrease) in cash and cash equivalents 2,886 10,746
Cash and cash equivalents at 1 January 21,628 11,484
Effect of movements in exchange rates on cash held (690) (602)
Cash at 31 December 23,825 21,628
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21.03.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
══════════════════════════════════════════════════════════════════════════
Language: English
Company: AUSTRIACARD HOLDINGS AG
Lamezanstraße 4-8
1230 Vienna
Austria
E-mail: [email protected]
Internet: https://www.austriacard.com/
ISIN: AT0000A325L0
WKN: A3D5BK
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1864767
End of News EQS News Service
1864767 21.03.2024 CET/CESTOTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |
