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Another best year in the history of Asseco SEE Group

Sales revenues amounting to EUR 157 million at the end of 2018, up 17%, net profit reaching EUR 15 million, up 18%

Fourth-Quarter 2018:

  • Double-digit sales revenues growth which amounted to EUR 51.6 million, up 36%

    • Sales revenues dynamic growth in the Systems Integration business unit – revenues totaling EUR 23.4 million, up 74%
    • Double-digit sales revenues growth in Payment business unit – revenues reaching EUR 15.5 million, up 16%
    • Double-digit sales revenues growth in the Banking business unit – revenues reaching EUR 12.7 million, up 14%

  • Double-digit operating profit growth which amounted to EUR 5.8 million, up 12%
  • Operating profitability amounting to 11.2%
  • Net profit totaling EUR 4.7 million, up 9%

 

Full-Year 2018:

  • Double-digit sales revenues growth which amounted to EUR 157 million, up 17%

    • Double-digit sales revenues growth in the Systems Integration business unit – revenues totaling EUR 61.5 million, up 26%
    • Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 57.3 million, up 15%
    • Sales revenues growth in the Banking business unit – revenues reaching EUR 38.3 million, up 7%

  • Double-digit operating profit growth which amounted to EUR 17.5 million, up 12%
  • Operating profitability amounting to 11.1%
  • Double-digit net profit growth which totaled EUR 15.3 million, up 18% 
  • Backlog growth in M1 for 2019 reaching EUR 73.7 million, up 3%

Warsaw, 21 February 2019: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced fourth-quarter 2018 and full-year financial results according to which the company recorded 36% and 17% increases in sales revenues respectively compared with the same periods of 2017 year generating EUR 51.6 million sales revenues in the fourth quarter and EUR 157 million at the end of 2018.

The biggest sales revenues after twelve months of 2018 were recorded by the Systems Integration business unit amounting to EUR 61.5 million, up 26% compared with the end of 2017. The growth was recorded in the business line responsible for the sale of third party infrastructure and solutions including integration services, mainly in Serbia and Romania, as well as in the line offering proprietary solutions mainly in Serbia and Macedonia. The sales revenues in the Payment business unit, offered under new Payten brand, amounted to EUR 57.3 million, up 15% compared with the same period of the last year. The biggest increases were generated mainly by the ATM related services business line mainly in Bosnia & Herzegovina, Croatia and Romania. Sales revenues from the Processing business line grew as much as 30% and they have been growing since April 2016 when included in the ASEE Group payment offer. In the Banking business unit sales revenues reached EUR 38.2 million, up 7% compared with four quarters of the previous year and the growth was visible in the core banking solutions business line, mainly in Macedonia, Serbia, Bosnia & Herzegovina and Romania as well as in the mobile solutions business line mainly in Croatia.

I am pleased with the best financial results in the history of the ASEE Group, including Payten, generated at the end of 2018. The fourth quarter was a record quarter for us as well with a 36% sales revenues growth mainly thanks to Payten and Systems Integration business unit but also due to interesting new projects in the Banking business unit. I believe that the purchase of Necomplus in Q1 2019 and thus entering Spanish language markets, new for Payten, as well as other planned acquisitions, will increase our international expansion and reinforce our position and expertise on the payments market. Additionally, offering innovative solutions within banking will enable us to continue to be an attractive partner for the banks in their digital transformation. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

Operating profitability of ASEE Group after twelve months of 2018 reached 11.1%. Whereas full-year 2018 net profit totaled EUR 15.3 million, up 18% compared with the same period of the last year. The company announced backlog value in M1 for 2019 amounting to EUR 73.7 million, up 3% compared with the same period of the last year, while at the same time decreasing in revenues value from EUR 95.1 million in 2018 to EUR 92.7 million in 2019.

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