The best year in the history of Asseco SEE: Sales revenues amounting to EUR 134.5 million, operating profit up 20%
Asseco South Eastern Europe Group has announced full-year 2017 results according to which the company recorded operating profit amounting to EUR 15.5 million, up 20% compared with the same period of the previous year.
Fourth-Quarter 2017:
- Sales revenues amounted to EUR 38 million, down 7%
- Sales revenues growth in the Payment business unit – revenues reaching EUR 13.4 million, up 5%
- Sales revenue growth in the Banking business unit – revenues reaching EUR 11 million, up 2%
- Double-digit operating profit growth which amounted to EUR 5.2 million, up 12%
- Operating profitability amounting to 13.6%
- Net profit totaling EUR 4.3 million, down 7%
Full-Year 2017:
- Sales revenues amounted to EUR 134.5 million, up 3%
- Sales revenues growth in the Payment business unit – revenues reaching EUR 49.9 million, up 10%
- Sales revenues growth in the Banking business unit – revenues reaching EUR 35.9 million, up 7%
- Double-digit operating profit growth which amounted to EUR 15,5 million, up 20%
- Operating profitability amounting to 11.5%
- Net profit totaling EUR 13 million, up 10%
- Double-digit backlog growth for 2018 reaching EUR 95.1 million, up 20%
Full-year 2017 sales revenues amounted to EUR 134.5 million, up 3% compared with the end of 2016. The biggest increase in sales revenues after twelve months of 2017 was recorded by the Payment business unit and amounted to EUR 49.9 million, up 10% compared with the same period of the last year. Bigger sales revenues were generated mainly by the infrastructure part of the payment business. In the Banking business unit sales revenues reached EUR 35.9 million, up 7% compared with four quarters of the previous year. Systems Integration business recorded sales revenues at the level of EUR 48.7 million, down 5% compared with the last year. However sales revenues of ASEE proprietary software of System Integration business unit grew by EUR 0.8 million compared with the same period of the previous year. In 2017 sales revenues of own products and services in total sales revenues of ASEE Group amounted to 65.8% compared with 60.9% in 2016.
Small growth dynamics in 2017 compared with the same period of the previous year and at the same time considerable improvement of efficiency resulted in the increase of operating profit by as much as 20% reaching EUR 15.5 million. The biggest contributor to the improvement of operating profit of the ASEE Group in 2017 was System Integration business unit. Last year we also signed a few important long-term agreements within banking and payment business, observed an increased interest in our mobile and authentication solutions as well as in card processing. It was the best year for ASEE as far as financial results are concerned. We also started the process of demerging Payment business from ASEE into Payten company. I expect that this change will contribute to even more dynamic growth of this business in our Group. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Operating profitability of ASEE Group after twelve months of 2017 reached 11.5%. Whereas full-year 2017 net profit totaled EUR 13 million, up 10% compared with the same period of the last year. The company announced backlog value for 2018 amounting to EUR 95.1 million, up 20% compared with the same period of the last year.
