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Operating profit of Asseco SEE Group up 47 per cent

Company’s Q4 and full-year 2019 results once again better compared with corresponding periods

Operating profit of Asseco SEE Group up 47 per cent

 

Fourth-Quarter 2019:

  • Double-digit sales revenues growth which amounted to EUR 64.3 million, up 25%

    •  Double-digit sales revenues growth in Payment business unit – revenues reaching EUR 25.3 million, up 63%
    •  Sales revenues growth in the Banking business unit – revenues reaching EUR 13.8 million, up 9%
    •  Sales revenues growth in the Dedicated solutions business unit – revenues totaling EUR 25.2 million, up 8%

  • Double-digit operating profit growth which amounted to EUR 8.5 million, up 47%
  • Operating profitability amounting to 13.3%
  • Net profit totaling EUR 6.9 million, up 47%
  • Backlog growth in revenues for Q1 2020 reaching EUR 49.4 million, up 60%

 Full-Year 2019:

  • Double-digit sales revenues growth which amounted to EUR 204.9 million, up 30%

    • Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 85.6 million, up 49%
    • Double-digit sales revenues growth in the Banking business unit – revenues reaching EUR 75.6 million, up 23%
    • Double-digit sales revenues growth in the Dedicated solutions business unit – revenues totaling EUR 43.7 million, up 14%

  • Double-digit operating profit growth which amounted to EUR 25.6 million, up 47%
  • Operating profitability amounting to 12.5%
  • Double-digit net profit growth which totaled EUR 21.2 million, up 39% 
  • Backlog growth in revenues for 2020 reaching EUR 160.6 million, up 73%

 

Warsaw, 25 February 2020: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced fourth-quarter and full-year 2019 financial results according to which the company recorded 25% and 30% increases in sales revenues respectively compared with the same periods of 2019 year generating EUR 64.3 million sales revenues in the fourth quarter and EUR 204.9 million at the end of 2019. The company announced backlog value in revenues for Q1 2020 amounting to EUR 49.4 million, up 60% compared with the same period of the last year, and for the whole 2020 - EUR 160.6 million, up 73%.

 - 2019 was a very good year for Asseco SEE Group. We generated double-digit growth in all three business units of our operations. Such good performance resulted from a growing demand for our digital banking proprietary and e-Commerce solutions, costs optimization and acquisitions within Payment business unit (Payten). Thanks to acquisitions we strengthened our market position within POS related services in the SEE region as well as expanded to new markets – Spanish speaking and CEE. We also enhanced our offer with interesting solutions including SinglePOS independent POS network and the solutions within mobile payments and mobile and web applications’ testing, where I see a big growth potential. Moreover we intensified our sales efforts in Africa which resulted in winning first contracts with the banks in Nigeria for our flagship authentication solution - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

 

Payment business unit (Payten)

 

The biggest sales revenues after twelve months of 2019 were recorded by the Payment business unit and amounted to EUR 85.6 million, up 49% compared with 2018. The biggest increase in sales revenues (by EUR 23.5 million) was achieved by POS related services business line. Bigger sales revenues were also visible in card processing business line and by MoneyGet independent ATM network. Excellent results of e-Commerce business line also contributed to very good performance of Payment business unit. Bigger sales influenced the increase in operating profit which amounted to EUR 12.9 million at the end of 2019, up EUR 4.8 million (60%) compared with a corresponding period of the previous year.

 Banking business unit

Sakes revenues of the Banking business unit amounted to EUR 43.7 million at the end of 2019, up EUR 5.4 million (14%) compared with the corresponding period of the previous year. Sales revenue grew in all business lines with the biggest increase recorded by mobile solutions. Operating profit of the Banking business unit was up as much as 45% (EUR 2.8 million) compared with 2018 and amounted to EUR 9.1 million at the end of 2019.

 Dedicated solutions business unit

In 2019 sales revenues from the Dedicated solutions business unit amounted to EUR 75.6 million, up EUR 14.1 million (23%) compared with 2018. The biggest increase was generated by the own solutions business line thanks to the projects implemented in Serbia and by new companies in the Group - Necomplus and Mobven. At the end of 2019 operating profit of the Dedicated business unit amounted to EUR 3.7 million, up 17% compared with the previous year.

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