Austriacard Holdings AG reported first-half 2026 revenue of €186.6 million, up 14% from the same period last year, as digital solutions and U.S. demand for metal payment cards accelerated. Second-quarter revenue reached €97 million, a 20% increase year-over-year, following 8% growth in the first quarter.
The Vienna-based digital transformation company raised its full-year 2026 revenue guidance to low double-digit growth, up from prior expectations of high single-digit expansion. EBITDA is now forecast to decline marginally versus 2025, reflecting approximately €6 million in one-off costs tied to stock option settlements, long-term incentive valuations, and Dai Nippon Printing’s voluntary takeover offer. Operating cash flow is expected to remain broadly unchanged from 2025.
EBITDA for H1 2026 increased 10% to €19.4 million, though the margin contracted 40 basis points to 10.4%. Excluding one-off costs, Q2 EBITDA rose 26% year-over-year to €10.2 million at an 8.2% margin. Net profit surged 135% to €5.8 million, boosted by a €2.2 million gain from the sale of a minority stake in SEGLAN S.L. Leverage remained healthy at 2.1x net debt to EBITDA, down from 2.3x a year earlier.
Regional performance diverged, with the Western Europe, Nordics and Americas segment leading growth at 23% year-over-year to €67.3 million. EBITDA in the region jumped 48% to €12.1 million, expanding the margin by 300 basis points to 18%. The U.S. market revenue grew 35%, driven by an 83% increase in metal card sales. The Middle East and Africa segment also posted strong gains, with revenue up 26% to €20.5 million and EBITDA more than doubling to €1.1 million.
Central and Eastern Europe lagged, with revenue rising just 7% to €111.5 million. EBITDA fell 16% to €9.8 million, and the margin contracted 240 basis points to 8.8%. Digital Technologies revenue within the segment surged 91% due to Greek public sector contracts totaling €73.5 million, of which €55.5 million has been recognized through H1 2026.
Digital Technologies as a whole grew 93% to €29 million in H1 2026, lifting its share of group revenue to 16% from 4% in 2023. Identity and Payment Solutions revenue rose 13%, with Identity solutions up 33% on MEA demand and Payment solutions up 11% driven by U.K. and U.S. fintech clients. Total card volume sold increased 14% to 63.7 million units, accelerating to 19% growth in Q2.
Net working capital rose to €89.2 million, or 23.3% of revenue, while capital expenditure increased to €12.3 million, or 6.6% of revenue, as the company invested in secure document printing capacity in the MEA region and a second U.S. personalization center. Group net debt stood at €103.9 million, with a blended cost of debt improving to 5.4%.
Dai Nippon Printing, which has secured a 96.55% acceptance rate for its voluntary takeover offer, plans to execute a squeeze-out and delist Austriacard shares from the Vienna Stock Exchange and Euronext Athens upon completion of the transaction.
