Austriacard Holdings AG reported a 19.8% year-over-year increase in Q2 2026 revenue to €97.1 million, driven by strong growth across core identity and payment solutions. The company’s stock remains near its 52-week high of $10.18, with a market capitalization of $415 million and a year-to-date gain of 71%.
Revenue growth excluding one-off costs reached 14%, while H1 2026 EBITDA margin eased to 10.4% from 10.8% a year earlier. Net profit for the first half totaled €5.8 million, with a net profit margin of 5.8%. Net leverage improved to 2.1x from 2.3x in the prior period, though the current ratio stood at 1.98.
The company’s identity and payment solutions segment, accounting for 63-64% of group revenue, grew 13% in the first half. Regional performance varied, with Western Europe and the Americas up 23%, Turkey and the Middle East rising 26%, and Central and Eastern Europe increasing 7%. Document lifecycle management revenue declined due to ongoing shifts from paper to digital processes in markets such as Romania and Greece.
Austriacard revised its full-year 2026 revenue guidance to low double-digit growth from a previous high single-digit target. EBITDA margin is expected to remain in the 10-11% range, though absolute EBITDA may be flat to slightly lower due to extraordinary costs. Operating cash flow is projected to be broadly unchanged for the year, with a significant improvement anticipated in the second half as receivables tied to Greek public-sector projects are collected.
Working capital pressures persisted, with trade and other receivables rising by €26 million and contract assets increasing by €9 million, primarily linked to Greek digitalization initiatives. The company also noted a €2.6 million cash-out payment under its stock option plan and a €2.2 million gain from the sale of its minority stake in SEGLAN S.L. Remaining Greek public-sector revenue to be recognized totals €18 million, split roughly evenly between the second half of 2026 and 2027.
The company’s voluntary takeover by Japan’s Dai Nippon Printing (DNP) remains pending final approval from the Austrian Foreign Direct Investment Authority, with 96.5% of shareholders already accepting the offer.
