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Another best year for ASEE Group

Company’s Q4 and full-year 2020 results once again better compared with corresponding periods of the previous year

Fourth-Quarter 2020:

  • Double-digit growth of sales revenues which amounted to EUR 73.7 million, up 15%

    • Double-digit growth of sales revenues in the Dedicated solutions business unit – revenues totaling EUR 32.6 million, up 30%

  • Double-digit growth of operating profit which amounted to EUR 9.7 million, up 20%
  • Double-digit growth of EBIDTA which totaled EUR 13.9, up 11%
  • Operating profitability amounting to 13.2%
  • Double-digit growth of net profit which reached EUR 7.8 million, up 18%
  • Double-digit growth of net profit attributable to Shareholders of the Parent Company, which amounted to EUR 7.6 million, up 17%
  • Backlog growth in revenues for Q1 2021 reaching EUR 53.8 million, up 9%*

Full-Year 2020:

  • Double-digit growth of sales revenues which amounted to EUR 229.4 million, up 12%

    • Double-digit growth of sales revenues in the Payment business unit – revenues reaching EUR 102.8 million, up 20%

  • Double-digit growth of operating profit which amounted to EUR 32.6 million, up 28%
  • Double-digit growth of EBIDTA which totaled EUR 49.8 million, up 22%
  • Operating profitability amounting to 14.2%
  • Double-digit growth of net profit which totaled EUR 26.4 million, up 25%
  • Double-digit growth of net profit attributable to Shareholders of the Parent Company, which amounted to EUR 26 million, up 25%

Warsaw, 25 February 2021: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced fourth-quarter and full-year 2020 financial results according to which the company recorded 15% and 12% increases in sales revenues respectively compared with the same periods of 2019 year generating EUR 73.7 million sales revenues in Q4 2020 and EUR 229.4 million in 2020.

The biggest sales revenues growth in Q4 2020 was generated by the Dedicated Solutions business unit and amounted to EUR 32.6 million, up EUR 7.4 million (30%) compared with a corresponding period of the previous year. Whereas in the whole 2020 the biggest growth in sales revenues was achieved by the Payment business unit where they totaled EUR 102.8 million, up EUR 17.3 million (20%) compared with 2019.

Operating profit of ASEE Group in Q4 2020 was up 20% compared with Q4 of the previous year and up 28% compared with the whole previous year and amounted to EUR 9.7 million and EUR 32.6 million respectively. The increase in consolidated operating profit of the Group in Q4 was mainly thanks to the Dedicated solutions business unit where EBIT was up almost EUR 1.8 million.

EBITDA of ASEE Group was up EUR 1.4 million (11%) compared with Q4 2019 and reached EUR 13.9 million in Q4 2020, whereas after 12 months it grew from EUR 40.9 million in 2019 to EUR 49.8 million in 2020 (up 22%).

Consolidated net profit of ASEE Group in Q4 2020 amounted to EUR 7.8 million, up EUR 1.2 million (18%) compared with a corresponding period of the previous year, and for the whole 2020 it amounted to EUR 26.4 million, up 25%.

Backlog for Q1 2021 in revenues amounted to EUR 53.8 million, up 9% compared with Q1 2020, and YoY up 2% and amounted to EUR 164.5 million.

- 2020 was another best year in the history of ASEE Group despite global Covid-19 pandemic. Sales revenues were up 12%, operating profit up 28% and EBIDTA up 22%. Such a considerable improvement of financial results, compared with the previous year, was possible thanks to a substantial improvement in the efficiency of Banking and Dedicated Solutions business units as well as an increased scale of operations of the Payment business unit (Payten). In Payten the biggest sales revenues growth was generated by the POS related services business line. Sales revenues also grew in the ATM related services and e-Commerce business lines with the latter being influenced by the global pandemic. At ASEE sales revenues growth was achieved by mobile and omnichannel banking solutions. Moreover in this unusual year we observed an increased interest of the clients in the solutions for remote communication, remote document management as well as solutions enabling to handle problems connected with pandemic. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

Payment business unit (Payten)

Sales revenues in Payten amounted to EUR 26.9 million in Q4 and to EUR 102.8 million after twelve months of 2020, which is up 6% and up 20% respectively compared with the corresponding periods of the previous year. In Q4 increased sales revenues were generated by the POS related services business line whereas in the whole year also by the ATM related services and e-Commerce business lines. Operating profit of the Payment business unit in Q4 amounted to EUR 2.4 million, down EUR 0.5 million (-16%), and at the end of 2020 it totaled EUR 14.7 million, up EUR 1.9 million (15%) compared with 2019.

Consolidated EBITDA in Q4 2020 amounted to EUR 5.7 million, down EUR 0.5 million (-9%) compared with the corresponding period of the last year, whereas after twelve months of 2020 it achieved EUR 27.8 million, up EUR 3.6 million (15%) compared with the previous year.

Banking business unit

Sales revenues of the Banking business unit reached in Q4 2020 EUR 14.2 million, up over EUR 0.4 million (3%) compared with the corresponding period of the previous year and EUR 46.4 million at the end of 2020, up EUR 2.7 million (6%) compared with 2019.

Operating profit in Q4 2020 amounted to EUR 4.7 million, up EUR 0.4 million (8%) compared with Q4 2019, whereas it reached almost EUR 11.9 million after 12 months of 2020, up EUR 2.7 million (30%) compared with the corresponding period of the previous year.

Consolidated EBITDA in Q4 2020 totaled EUR 5.3 million, up EUR 0.4 million (8%), and at the end of 2020 it amounted to EUR 14.4 million, up EUR 3 million (26%) compared with 2019.

Dedicated solutions business unit

Sales revenues of the Dedicated solutions business unit in Q4 2020 amounted to EUR 32.6 million, up EUR 7.4 million (30%) compared with the corresponding period of the previous year, whereas in 2020 they reached EUR 80.2 million, up EUR 4.5 million (6%) compared with 2019.

Dynamic sales revenues growth together with improved efficiency translated into operating profit amounting to EUR  2.6 million in Q4, up almost EUR 1.8 million compared with the corresponding period of the last year. After twelve months of 2020 operating profit reached EUR 6 million, up EUR 2.3 million (64%) compared with 2019.

EBITDA of the Dedicated solutions business unit amounted to EUR 2.9 million in Q4, up EUR 1.6 million compared with Q4 2019, whereas in 2020 it totaled EUR 7.6 million, up EUR o 2.4 million (45%) compared with the previous year.

About ASEE

ASEE Group is one of the biggest IT companies in the area of production and implementation of its own software solutions and services in the region of South Eastern Europe, Turkey, Spain, Portugal, Andorra, Colombia, Peru, Dominican Republic, Slovakia and Czech Republic. The Company provides ICT solutions for various industry verticals including the financial sector, payment sector, public administration and telecoms. The company provides products and services within Payment business under Payten name. Since October 2009, the shares of Asseco South Eastern Europe (WSE: ASEECOSEE, ASE) have been listed on the Warsaw Stock Exchange. ASEE Group employs almost 2,800 people in 23 countries. More than 10 banks out of the 15 largest ones in southeastern Europe are already clients of ASEE.

 

Contact:

Monika Perek, CMO

Asseco South Eastern Europe S.A.

Branickiego 13, 02-972 Warszawa,

Tel.: +48 22 574 86 38, monika.perek@asseco-see.com, www.asseco.com/see

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