Asseco South Eastern Europe S.A. semi-annual 2012 financial results

Asseco South Eastern Europe S.A., (Asseco SEE, ASEE) published semi-annual 2012 financial results.  

Sales revenue of Asseco SEE Group reached EUR 52.5 million translating to 4% growth compared to the corresponding period of the last year. The company managed to improve total sales thanks to accelerating revenues from new markets*. Additionally, Asseco SEE Group recorded major improvement of revenues from own services, growing 6% compared to first six months of 2011. Revenues recorded in the internet Payments business have recorded significant increase of 26%.

„In the first half of the year 2012 revenues from new markets amounted to EUR 5.3 million. This means we have achieved a 63% increase compared to 2011. Importance of such increase is worth emphasizing, since development of new markets is a crucial part of ASEE’s strategy. Taken current weak economic situation entering new markets is a key element of our growth strategy" - said Piotr Jeleński, CEO of Asseco SEE. 

Operating profit (EBIT) amounted to EUR 5.8 million, and was up 9% compared to first half of last year. Net profit (adjusted by one-offs) increased by 16% to EUR 5.6 million.

Considering growing investments into new markets development and new products development (212% increase), where significant amount out of it was expensed (EUR 0.7 million), significance of operating profit improvement is even bigger.

As far as maintenance services are concerned, ASEE reached EUR 15 million, resulting in growth of 16%. This improves security of the daily business. Sales of own products and services amounted to EUR 25 million giving growth of 7% and increasing the share of value added solutions.

Operating profitability in the first half of 2012 has reached 11% and increased by 0,5 percentage points compared to first half of 2011.

The company announced backlog value for the year 2012. Including completion for the first six months, it amounts to EUR 90.2 million.

*New markets are understood as new geographies for existing products and all geographies for a new products.