Asseco South Eastern Europe S.A. First Three Quarters 2012 financial results
Asseco South Eastern Europe S.A., (Asseco SEE, ASEE) published financial results for the first three quarters of 2012.
Sales revenue of Asseco SEE Group reached EUR 77.5, being on the same level as in 2011. 43% increase of revenue in Internet Payments business contributed strongly to the Group revenue. Another important factor was 4% increase of revenue from own services, improving share of own solutions in total revenue. A positive tendency is continuation increase of revenues from the new markets, which amount EUR 8.8 million and have grown by 64% year on year. Results of Turkish operations were up by 58%, showing the greatest contribution to the company’s result. The Group EBIT was also positively influenced by consolidating one month results of the Turkish company Sigma, acquired in September this year.
“We are still focusing on developing new markets, in these areas of business, which have the highest growth potential both in our region and beyond. We can observe promising development perspectives in the Internet Payment business. We are also convinced that Sigma’s products – especially Fidelity Spend Management** – will contribute positively to revenue growth in the coming quarters” – said Piotr Jeleński, CEO of Asseco SEE.
Operating profit (EBIT) amounted to EUR 8.7 million and was comparable to three quarters of last year. Net profit (adjusted by one-offs) increased by 3% to EUR 8.3 million.
As far as maintenance and outsourcing services are concerned, ASEE achieved EUR 23 million revenue, resulting in 12% growth. This improves security and predictability of the daily business. Sales of own products and services amounted to EUR 37 million improving by 4% and increasing the share of value added solutions.
Operating profitability for the last three quarters reached 12%, comparable to the profitability in three quarters of 2011.
The company announced backlog value for the year 2012. Including completion for the first nine months, it amounts to EUR 101 million.