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Asseco South Eastern Europe continues growth path in Q2 2019

Double-digit growth in key financial indicators

Q2 2019 Highlights

  • Double-digit growth in sales revenues which amounted to EUR 46.3 million, up 25%

    • Double-digit sales revenues growth in Payment business unit – revenues totaling EUR 19.7 million, up almost 48%
    • Double-digit sales revenues growth in Banking business unit – revenues reaching EUR 10.7 million, up 22%

  • Double-digit growth in net profit which reached EUR 4.3 million, up 18%
  • Double-digit growth in operating profit which totaled EUR 5.3 million, up 27%
  • Operating profitability amounting to 11.4%

Half-Year 2019 Highlights

  • Double-digit growth in sales revenues which amounted to EUR 87.9 million, up 25%

    • Double-digit sales revenues growth in Payment business unit – revenues totaling EUR 37.5 million, up 29%
    • Double-digit sales revenues growth in Banking business unit – revenues reaching EUR 19.7 million, up over 19%
    • Double-digit sales revenues growth in System Integration business unit – revenues reaching EUR 30.7 million, up 25%

  • Double-digit growth in net profit which reached EUR 8.5 million, up 35%
  • Double-digit growth in operating profit which totaled EUR 10.2 million, up 40%
  • Operating profitability amounting to 11.6%
  • Backlog according to revenues amounting to EUR 138 million, up 11%

 

Warsaw, 9 August 2019: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced second-quarter and half-year 2019 financial results which once again are better than in the same period of the previous year thanks to the growth in all business units of the company and the acquisition of Necomplus.

Sales revenues of Asseco SEE Group at the end of the first half of 2019 amounted to EUR 87.9 million, up EUR 17.8 million (over 25%) compared with the same period of the previous year. All 3 business units of the company generated double-digit sales revenues growth led by the Payment business unit. Half-year 2019 operating profit of the ASEE Group amounted to EUR 10.2 million, up 40% (up EUR 2.9 million). Operating profitability grew from 10.4% after six months of the previous year to 11.6% at the end of the first half of this year. Whereas half-year 2019 net profit totaled EUR 8.5 million, up 35% compared with the same period of the last year. The company announced backlog value for 2019 according to revenues amounting to EUR 138 million, up 11% compared with 2018, whereas according to Margin 1 – to EUR 98.4 million, up 14%.

In the second quarter of 2019 Asseco SEE Group continued growth in all areas of its operations with double-digit increases in the Payment business unit and Banking business unit. Apart from organic growth such good performance resulted from very good e-Commerce results as well as from the increase in sales revenues of mobile and security solutions for the banking sector. Last quarter we also continued our expansion in the payment sector by completing new acquisitions. We bought a minority stake in Multicard in Serbia, purchased B Services company operating within the POS sector in Montenegro as well as Serbian Bassilichi offering POS and ATM related services in Serbia and BiH - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

Business unit results for half-year 2019

  • The biggest increase in sales revenues of ASEE Group, up as much as 29%, was recorded by the Payment business unit, where sales revenues amounted to EUR 37.5 million, with the biggest growth, up almost 80% (EUR 8.6 million) generated in the POS related services business line which included most of the revenues of Necomplus consolidated since 1 February 2019; e-Commerce business line was up 33% (that is up EUR 1.2 million), Processing up 25% (that is up EUR 0.4 million) and ATM related services down 12% (that is down EUR 1.7 million). Operating profit of the Payment business unit amounted to EUR 5.8 million, up 26%.
  • Sales revenues of Banking business unit amounted to EUR 19.7 million, up 19% compared with the same period of the previous year. The biggest increase was recorded in the sales revenues of mobile and security solutions. The growth in sales revenues contributed to the growth in operating profit of the Banking business unit which amounted in the first half of 2019 to EUR 2.8 million, up 68% (that is up EUR 1.1. million).
  • Half-year 2019 sales revenues of the System Integration business unit totaled EUR 30.7 million, up 25% (EUR 6.1 million) compared with 2018 half-year sales revenues. The biggest increase was recorded in the own solutions business line. Operating profit of the System Integration business unit reached EUR 1.6 million, up 60% (EUR 0.6 million).

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