Azkoyen General Meeting 2009: The Medios de Pago division increased net profits by 27.8%

On June 26th 2009 the Azkoyen Group held its Annual General Meeting. It analyzed the results obtained during 2008 highlighting an increase of 8.5% in sales volume, reaching €148 million. Concerning the evolution of EBITDA, it remains in line with the results of the same period in 2007, although in an unfavourable economic climate.

The Medios de Pago division closes the year with excellent results. The figures obtained exceed the expectations set out in its business plan. According Jose Miguel Zugaldía, the director general of the Azkoyen Group, "The Group is totally committed to this business line, as the reported progress and its European leadership testifies.

The Medios de Pago activities continue to strengthen both in the area of industrial payment systems and that devoted to vending. With an accessible market share of 19%, it is rated as number 2 in Europe this activity.

With respect to sales, Medios de Pago has achieved a turnover of €48,818 million, an increase of 2.6% compared to 2007. The development of new strategic alliances and supply agreements have made it possible that, despite the global economic situation, Medios de Pago has succeeded in improving its sales compared to the previous year.

Its commitment to investment in R & D and the introduction of new products have been two key factors in the success of this financial term. It currently has a compact product range that allows perfect coverage of all the market’s needs, having simultaneously achieved a significant reduction in costs. Strengthening its leadership and entering new strategic markets are the directives that will lead the Azkoyen Medios de Pago’s strategy.