Operating profit of ASEE Group up 24% in Q3 2021
- Double-digit growth in sales revenues of ASEE Group which amounted to EUR 57.7 million, up 13%
- o Double-digit growth in sales revenues of Dedicated solutions reaching EUR 19.4 million, up 40%
- Double-digit growth in operating profit of ASEE Group which totaled EUR 10.3 million, up 24%
- o Double-digit growth in operating profit of Payment solutions which amounted to EUR 5.7 million, up 36%
- o Almost double growth in operating profit of Dedicated solutions reaching over EUR 2 million, up 83%
- Operating profitability of ASEE Group amounting to 17.8%
- Double-digit growth in net profit of ASEE Group which amounted to EUR 8.5 million, up 20%
- Double-digit growth in EBITDA of ASEE Group which reached EUR 14.6 million, up 14%
- o Double-digit growth in EBITDA of Payment solutions which totaled EUR 8.8 million, up 17%
- o Double-digit growth in EBITDA of Dedicated solutions which amounted to EUR 2.5 million, up 61%
Warsaw, 28 October 2021. ASEE Group (WSE: ASSECOSEE, ASE) has announced third-quarter 2021 financial results which once again are better than the results in the corresponding period of the last year.
Sales revenues of ASEE Group in the third quarter of 2021 amounted to EUR 57.7 million, up 13% (EUR 6.5 million) compared with the corresponding period of the last year. The biggest increase was generated by Dedicated solutions especially by proprietary software and services. Operating profit of the ASEE Group amounted to EUR 10.3 million, up 24%, and EBITDA to EUR 14.6 million, up 14%.
- In the third quarter ASEE Group grew both organically and as a result of the consolidation of the newly acquired companies. Direct to merchants solutions such as ECR and IPD grew considerably so did card processing solutions and IAD Moneyget. Growth of scale and efficiency of own services in Dedicated Solutions contributed to good Q3 results too - commented Piotr Jeleński, CEO of ASEE Group.
ASEE Group’s third-quarter net profit totaled EUR 8.5 million, up 20% compared with the third quarter of 2020. The company announced backlog value in revenues for 2021 amounted to EUR 231.8 million, up 9% compared with the last year.
Payment solutions (Payten)
Sales revenues of Payment solutions in the third quarter of 2021 amounted to EUR 26.6 million, up 4% (EUR 1.1 million) compared with a corresponding period of the last year. Operating profit grew by EUR 1.5 million (up 36%) and totaled EUR 5.7 million. EBITDA reached almost EUR 8.8 million, up 17% (EUR 1.3 million) compared with a corresponding period of 2020.
Sales revenues of Banking solutions in the third quarter of 2021 amounted to over EUR 11.7 million, down by EUR 0.1 million compared with the corresponding period of the last year. Operating profit was down by EUR 0.5 million, and EBITDA down by EUR 0.5 million and totaled almost EUR 3.2 million.
Sales revenues of Dedicated solutions reached in the third quarter of 2021 EUR 19.4 million, up 40% (EUR 5.5 million) compared with the third quarter of the last year. Operating profit totaled EUR 2.0, up 83% (EUR 0.9 million). EBITDA amounted to EUR 2.5 million, up 61 % (EUR 2.5 million).
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 ASEE (WSE: ASEECOSEE, ASE) have been listed on the Warsaw Stock Exchange. ASEE Group employs over 3,200 people in 23 countries. More than 10 banks out of the 15 largest ones in Southeastern Europe are already clients of ASEE.
Monika Perek, CMO
Asseco South Eastern Europe S.A
Tel.: +48 22 574 86 38