Another Better Quarter for Asseco SEE - Net Profit up 14% in Q1 2018
Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced first-quarter 2018 financial results which once again were better than the results in the corresponding period of the last year.
Highlights
- Sales revenues amounted to EUR 33.2 million, up 7%
- Excellent results of Payment business unit – revenues totaling EUR 15.7 million, up 27%
- Double-digit growth in net profit which reached EUR 2.7 million, up 14%
- Record sales dynamics in Croatia – sales revenues up 57%
- Backlog amounting to EUR 100.5 million, up 6%
Sales revenues in the first quarter totaled EUR 33.2 million, up 7% compared with the corresponding period of the last year. Payment business unit was the biggest contributor to this result with sales revenues reaching EUR 15.7 million, up 27% (EUR 3.4 million) compared with the same period of the last year. The biggest growth (by over EUR 3 million) was generated by ATM maintenance services mainly in Croatia and Romania. Sales revenues in the Banking business unit totaled EUR 7.7 million which is up 2% (EUR 151k) compared with the same period of the previous year. The increase was recorded by products and services within the core banking and mobile lines. Whereas sales revenues in the Systems Integration business unit amounted to EUR 9.7 million in the first-quarter, down 13 % (EUR 1.4 million) compared with the first three months of the previous year.
Another good quarter in the Payment business unit confirms our reputation and well-established brand as a payment services provider in the region. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
The ASEE Group’s first-quarter net profit totaled EUR 2.7 million and was higher by EUR 0.3 million (up 14%) compared with the first three months of 2017.
The company announced backlog value for 2018 amounting to EUR 100.5 million, up 6% compared with the last year.
