AZKOYEN SA
Azkoyen, S.A. is a Spanish sociedad anónima (public limited company) registered with the Registro Mercantil de Navarra under tax identification number (CIF) A31065618. The company was formally incorporated on 9 April 1976 and its registered office is at Avenida San Silvestre, s/n, 31350 Peralta, Navarra, Spain. Its registry status is active, and as of 31 December 2024 its share capital stood at €14,670,000, divided into 24,450,000 ordinary bearer shares of €0.60 nominal value each.
Azkoyen designs, manufactures and markets automated vending machines, cash and cashless payment technology, and access-control and time-and-attendance security systems. Its business is organised into two subgroups: a Coffee & Vending Systems and Payment Technologies subgroup, headed by Azkoyen Vending & Payment Solutions, S.L.U., which produces coffee, cold- and hot-drink and snack vending machines together with coin validators, banknote-handling equipment and cashless payment components sold under the Azkoyen, Coffetek, Coges and Cashlogy brand names; and a Time & Security subgroup, headed by primion Technology GmbH in Germany, which supplies access-control and workforce time-recording software and hardware. According to Azkoyen Group’s own reporting, the group operates in more than 95 countries and generates over 85% of its consolidated revenue outside Spain, with a workforce of around 1,000 employees.
Azkoyen shares are admitted to trading on the Madrid and Bilbao stock exchanges and on Spain’s continuous electronic market (SIBE) under the ticker AZK. For the 2024 financial year the Azkoyen Group reported consolidated net revenue of approximately €199 million, up 3.4% on 2023, together with EBITDA of €35 million and net profit of €18.8 million — the highest figures in the group’s history, according to its published annual results.
On 28 July 2026, Azkoyen’s board of directors notified the Comisión Nacional del Mercado de Valores (CNMV) that it had agreed to classify as friendly a voluntary public takeover offer (OPA) for 100% of the company’s share capital announced by Ohmnia Electronics, S.L., an investment vehicle linked to businessman José Antonio Jainaga together with the Basque Government, Kutxabank and the BBK and Vital foundations. The offer, formally registered with the CNMV in August 2026 pending regulatory authorisation, values Azkoyen at €10.00 per share, equivalent to approximately €244.5 million for the whole company. As of the information date for this profile, the offer had not completed and Azkoyen continued to operate as an independent listed company.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Shareholders of AZKOYEN SA
Azkoyen, S.A. is a listed company, so Spanish and CNMV disclosure rules require only holders whose stake crosses statutory notification thresholds to be publicly identified; the remainder of the free float is held by a large number of smaller institutional and retail investors that are not individually itemised. Based on the company’s own corporate-governance disclosures and CNMV significant-holdings filings as reported in the business press, the largest disclosed shareholder is Inverlasa, S.L., an investment holding vehicle, with a stake of approximately 29.65% — a level close to the 30% threshold that triggers a mandatory takeover bid under Spanish securities law. The second-largest disclosed holder is Carolina Masaveu Herrero, who holds an indirect stake reported at between approximately 11.4% and 12.66% (figures reported at different filing dates) through her wholly owned holding company, Crisgadini, S.L. Santander Asset Management has also been disclosed as a significant holder, with a stake of approximately 6.1%. All stakes described here are direct or indirect equity holdings; voting-rights percentages were not separately confirmed for this profile.
Ultimate beneficial ownership
Business press reporting that references CNMV significant-holdings filings identifies Víctor Ruiz Rubio and Rosario Lafita, a married couple, as the individuals who control Inverlasa, S.L. and, through it, its approximately 29.65% stake in Azkoyen. This is reported as the couple’s combined controlling interest in the holding vehicle rather than as a formal, itemised UBO declaration, and the individual ownership split between the two people within Inverlasa has not been independently verified for this profile. No calculated effective ownership percentage is therefore presented beyond the disclosed Inverlasa stake itself.
Data availability
Availability is best described as major shareholders only: Spain’s disclosure regime requires notification only above statutory thresholds, so holders below approximately 3% are not individually identified, and the reported Masaveu holding varies slightly depending on the filing date cited. This overview should not be read as a complete shareholder register.
Sources
- Azkoyen Group, Corporate Governance and Transparency — azkoyen.com/en/corporate-governance/ (retrieved 18 September 2026)
- CNMV, Significant Holdings and own shares in Listed Companies — AZKOYEN, S.A., cnmv.es (retrieved 18 September 2026)
- El Español, “El holding familiar Inverlasa roza el umbral de opa forzosa en el capital de Azkoyen” (8 October 2020)
- Cantabria Económica, “La heredera asturiana Carolina Masaveu eleva hasta el 11,452% su participación en Azkoyen”
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| DFA International Core Equity Portfolio | 36.8% | Colegio de Registradores / Registro Mercantil Central | |
| DFA International Sustainability Core 1 Portfolio | 2.7% | Colegio de Registradores / Registro Mercantil Central | |
| Brighthouse Fds Tr II-BH/Dimensional International Small Co Port | 2.1% | Colegio de Registradores / Registro Mercantil Central | |
| DFA Investment Dimensions-DFA World Ex U.S. Targeted Value Port | 1.6% | Colegio de Registradores / Registro Mercantil Central | |
| DFA Investment Dimensions-DFA Va International Small | 1.5% | Colegio de Registradores / Registro Mercantil Central |
Officers
18
Directors and officers of AZKOYEN SA
According to Azkoyen’s own corporate-governance disclosure (retrieved 18 September 2026), the board of directors currently comprises nine members. The chairman, Juan José Suárez Alecha, holds an executive role, appointed 24 June 2022. The other directors are Arturo Leyte Coello (proprietary director, appointed 16 February 2005), Pablo Cervera Garnica (other external director, appointed 27 February 2014; referred to in company communications as coordinating director), Ana Ruiz Lafita (proprietary director, appointed 24 June 2022), Eduardo Unzu Martínez (proprietary director, appointed 24 January 2020), Esther Málaga García (lead independent director, appointed 24 June 2022), Isabel Zarza García (independent director, appointed 21 June 2024), Rodrigo Unceta de la Cruz (proprietary director, appointed 21 June 2024) and Ana López de Mendoza Laburu (independent director, appointed 9 June 2026, the most recent addition to the board). The board’s non-director secretary is Aurelio Orrillo Lara, appointed 14 October 2013. Following the January 2024 resignation of the previous chief executive officer, Darío Vicario Ramírez, the board did not appoint a new CEO; executive functions were instead vested more directly in the chairman, supported by divisional general managers who report to the board. Nationality is not disclosed in the source reviewed for this profile.
Recent officer changes
- Ana López de Mendoza Laburu appointed as an independent director, effective 9 June 2026 (source: Azkoyen corporate governance disclosure).
- Isabel Zarza García and Rodrigo Unceta de la Cruz appointed as directors, effective 21 June 2024 (source: Azkoyen corporate governance disclosure).
- Darío Vicario Ramírez resigned as chief executive officer in January 2024; the board subsequently chose not to appoint a successor CEO (source: business press reporting on the board’s announcement).
Data availability
Current board composition is Full for this jurisdiction, since Spanish listed companies are required to keep an up-to-date corporate-governance disclosure. Nationality, country of residence and historical (resigned) officer records beyond the changes noted above are Not disclosed in the sources reviewed for this profile.
Sources
- Azkoyen Group, Corporate Governance and Transparency — azkoyen.com/en/corporate-governance/ (retrieved 18 September 2026)
- Consejeros.es, “El CEO de Azkoyen, Darío Vicario Ramírez, renuncia al cargo, aunque permanecerá como consejero externo hasta la extinción de su mandato”
- Bolsarama.es, “Azkoyen votará en su Junta a Isabel Zarza y Rodrigo Unceta de la Cruz como consejeros”
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
Group Structure
Group structure of AZKOYEN SA
Azkoyen, S.A. is the ultimate parent company of the Azkoyen Group and is not itself a subsidiary of another disclosed entity. The group’s operating subsidiaries are organised into two subgroups, each headed by a directly held subsidiary that Azkoyen’s own press releases describe as wholly owned: a Coffee & Vending Systems and Payment Technologies subgroup headed by Azkoyen Vending & Payment Solutions, S.L.U. (Spain), and a Time & Security subgroup headed by primion Technology GmbH (Germany). Beneath these two subgroup heads, Zavia’s registry-sourced corporate-linkage data and Azkoyen’s own press disclosures together identify operating subsidiaries across nine countries, including Spain, Italy, Portugal, the United Kingdom, Germany, Latvia, Austria, Belgium, the Netherlands and Switzerland. Individual ownership percentages below the level of the two subgroup heads are not disclosed in the sources reviewed for this profile beyond the “wholly owned” characterisation used for the subgroup heads themselves.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Azkoyen Vending & Payment Solutions, S.L.U. | Spain | B71541411 | Direct subsidiary | Wholly owned (per company press release) | Active | 2026-09-18 |
| primion Technology GmbH | Germany | DE 89073B736977 | Direct subsidiary | Wholly owned (per company press release) | Active | 2026-09-18 |
| Ascaso Factory, S.L.U. | Spain | B64710668 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-09-18 |
| Coges S.p.A. | Italy | IT00527790240 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-09-18 |
| Coffetek Limited | United Kingdom | 02841455 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-09-18 |
| Vendon SIA | Latvia | 40103422387 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-09-18 |
| Azkoyen Portugal, Sociedade Unipessoal, Lda. | Portugal | 501963820 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-09-18 |
| primion AG | Switzerland | CHE-109.447.299 | Indirect subsidiary | Wholly owned (per company press release announcing the acquisition) | Active | 2026-09-18 |
Zavia’s underlying corporate-linkage data additionally lists further indirect subsidiaries in Germany, Italy, Austria, Belgium and the Netherlands that were not individually cross-checked against a primary source for this profile.
Recent structural changes
- Pending change of control (not completed): in August 2026, Ohmnia Electronics, S.L. registered a voluntary, board-endorsed (“friendly”) public takeover offer with the CNMV for 100% of Azkoyen, S.A.’s share capital; as of the information date the offer had not completed and Azkoyen’s own group and parent structure remained unchanged (source: CNMV filing; business press).
- primion Technology GmbH (Germany) acquired primion AG (Switzerland), adding a Swiss operating subsidiary to the Time & Security subgroup (source: Azkoyen Group press release; precise completion date not confirmed in the sources reviewed).
Data availability
Availability is partial: the two subgroup heads and their “wholly owned” status are confirmed by Azkoyen’s own official disclosures, but ownership percentages for entities further down the structure were not individually confirmed against a primary filing for this profile.
Sources
- Azkoyen Group, official press releases — azkoyen.com/en/prensa/ (retrieved 18 September 2026)
- Azkoyen Group, Registros oficiales — azkoyen.com/en/official-records/
- Naiz.eus, “Ohmnia pide a la CNMV autorización para lanzar la OPA sobre Azkoyen por 244,5 millones de euros” (24 August 2026)
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
AZKOYEN SA
Spain
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Frequently Asked Questions
What does AZKOYEN SA do?
Azkoyen, S.A. designs, manufactures and markets vending machines, cash and cashless payment technology, and access-control/time-and-attendance security systems through its Coffee & Vending Systems / Payment Technologies and Time & Security subgroups.
Who owns AZKOYEN SA?
Major disclosed shareholders are Inverlasa, S.L. (approximately 29.65%), Carolina Masaveu Herrero via Crisgadini, S.L. (approximately 11.4-12.66%), and Santander Asset Management (approximately 6.1%), per CNMV significant-holdings disclosures.
Who is AZKOYEN SA's UBO (Ultimate Beneficial Owner)?
Business press referencing CNMV filings identifies Victor Ruiz Rubio and Rosario Lafita as the married couple controlling Inverlasa, S.L.'s approximately 29.65% stake in Azkoyen; no individual UBO percentage split has been verified.
What is AZKOYEN SA's company registration number?
AZKOYEN SA's registration number is A31065618, filed with Colegio de Registradores / Registro Mercantil Central in Spain. Its current status on the register is active.
Is AZKOYEN SA still an active company?
AZKOYEN SA's status on Colegio de Registradores / Registro Mercantil Central is listed as active.
What is AZKOYEN SA's registered address?
The registered address on file for AZKOYEN SA is PERALTA/AZKOIEN, Spain.
What legal structure is AZKOYEN SA registered as?
AZKOYEN SA is registered as a Public Limited Company in Spain.
What is AZKOYEN SA's revenue?
Azkoyen Group reported consolidated net revenue of approximately EUR 199 million for the 2024 financial year, with EBITDA of EUR 35 million and net profit of EUR 18.8 million, per its published annual results.
Is AZKOYEN SA listed on a stock exchange?
Azkoyen, S.A. shares trade on the Madrid and Bilbao stock exchanges and on Spain's SIBE continuous market under ticker AZK.
Who are the officers/directors of AZKOYEN SA?
The board of directors is chaired by Juan Jose Suarez Alecha (executive chairman) and comprises nine members as of the company's latest corporate-governance disclosure; no separate CEO has been appointed since January 2024.
Does AZKOYEN SA have a parent company or subsidiaries?
Azkoyen, S.A. is the parent of the Azkoyen Group, organised into a Coffee & Vending Systems/Payment Technologies subgroup headed by Azkoyen Vending & Payment Solutions, S.L.U. and a Time & Security subgroup headed by primion Technology GmbH (Germany).
Can Zavia monitor changes to AZKOYEN SA's ownership over time?
This profile reflects a point-in-time snapshot from Colegio de Registradores / Registro Mercantil Central. Zavia's monitoring API can track changes to AZKOYEN SA's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access AZKOYEN SA's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Spain, so records like AZKOYEN SA's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Colegio de Registradores / Registro Mercantil Central and was last synced on 18 September 2026.