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Results Presentation Q2 2026 Javier Hergueta – CFO Miguel Bandrés - IRO July 30th 2026
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The Cash LandscapeThe Cash Landscape 0. THE CASH LANDSCAPE Miguel Bandrés – IRO Why hasn't India's UPI boom stopped cash in circulation from rising? Cash withdrawals in India increased by 12%. Source: Business Standard/Reuters Who pays for payments? Cash users ultimately fund credit-card loyalty programmes. Merchants pass their fees on to all consumers. Source: Harvard Business School The digital euro will not replace cash. Nowhere in Europe will people be able to say: “I do not accept your banknotes.” Safeguarding the freedom to use cash is at the heart of our work as a central bank. Source: Christine Lagarde (Euronews) and Piero Cipollone (ECB) MiCA, the consolidation of a regulatory framework for crypto-assets in the European Union, is driving the sector’s institutionalisation and supporting demand for professional custody and digital-security solutions. Source: ESMA
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Period highlights: Improved quarterly growth and profitability, with a continued reduction in net debt. Sales (-0.4%) • Like-for-like sales +0.7%. • Reduced negative FX impact. • LATAM stand-alone Q2 sales +4.7% in euros. BPO Front Office Other 1. PERIOD HIGHLIGHTS Javier Hergueta – CFO EBITA margin 11.1% Transformation 35.8% of sales • EBITDA improvement +1.3% • Stand-alone Q2 EBITA margin improves by +30 bps YoY. • Net income growth +1.9% YoY. • Transformation Products ex-AVOS growth +7.8%. • Transformation Products ex-AVOS penetration 35.1% (+240 bps YoY). • FCF in line with H1 2025 • LTM Total Net Debt reduced by €53m. • Leverage ratio stable at 2.3x (-0.1x vs Q1 2026). • MiCA licence obtained to provide digital-asset services in Europe. • Commercial Paper Programme renewed. FCF €29m
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4 Total sales(1) (€m, %) Income Statement(1) 2. INCOME STATEMENT Javier Hergueta – CFO € millions H1 2025 H1 2026 VAR % Sales 1,005 1,001 (0.4%) EBITDA 171 173 1.3% Margin 17.0% 17.3% Depreciation (58) (61) EBITA 112 111 (0.9%) Margin 11.2% 11.1% Amortisation of intangibles (11) (11) EBIT 101 101 (0.4%) Margin 10.1% 10.1% Financial result (14) (17) EBT 87 83 (3.7%) Margin 8.6% 8.3% Taxes (39) (35) Tax rate -45.1% -41.9% Net income 48 48 1.9% Margin 4.7% 4.8% Non-controlling interests (2) (2) Consolidated net income 46 46 0.8% Margin 4.6% 4.6% EPS(2) EBITA evolution (€m, %) 112 111 6M 2025 6M 2026 11.2% 11.1% -0.9% 3.09 3.14 1.6% 6M 2025 3.0% Org. (1.1%) Inorg. (2.3%) FX 6M 2026 1,005 1,001 -0.4% (1) Figures according to IFRS 21 & 29 (hyperinflation accounting) and IFRS 16 (leases). (2) EPS in euro cents of the total number of shares existing at the end of each fiscal year.