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Operating profit of ASEE Group in Q4 2021 up 20%

Company’s Q4 and full-year 2021 results once again better compared with corresponding periods of the previous year

Fourth-Quarter 2021:

  • Double-digit growth of operating profit which amounted to EUR 11.6 million, up 20%
  • Double-digit growth of EBIDTA which totaled EUR 15.8, up 14%
  • Operating profitability amounting to 15%
  • Double-digit growth of net profit which reached EUR 10.6 million, up 39%

 Full-Year 2021:

  • Double-digit growth of operating profit which amounted to EUR 39.6 million, up 22%
  • Double-digit growth of EBIDTA which totaled EUR 56.4 million, up 13%
  • Operating profitability amounting to 15.8%
  • Double-digit growth of net profit which totaled EUR 33.9 million, up 29%
  • Double-digit growth of backlog of ASEE Group for 2022 in revenues which amounted to EUR 195.2 million, up 14%

Warsaw, 24 February 2022: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced fourth-quarter and full-year 2021 financial results according to which the company recorded 5% and 9% increases in sales revenues respectively compared with the same periods of 2020 year generating EUR 77.2 million sales revenues in Q4 2021 and EUR 250.5 million in 2021.

The biggest sales revenues growth in Q4 2021 was generated by Payment solutions where they amounted to EUR 32 million, up almost EUR 5.1 million (19%) compared with a corresponding period of the previous year. Whereas in the whole 2021 sales revenues of Payment solutions totaled EUR 115.3 million, up EUR 12.5 million (12%) compared with 2020.

Operating profit of ASEE Group in Q4 2021 was up 20% (EUR 1.9 million) compared with Q4 of the previous year and up 22% (EUR 7.3 million) compared with the whole previous year and amounted to EUR 11.6 million and EUR 39.6 million respectively.

EBITDA of ASEE Group was up EUR 1.9 million (14%) compared with Q4 2020 and reached EUR 15.8 million in Q4 2021, whereas after 12 months it grew from EUR 49.8 million in 2020 to EUR 56.5 million in 2021 (up 13%).

Consolidated net profit of ASEE Group in Q4 2021 amounted to EUR 10.6 million, up EUR 3 million (39%) compared with a corresponding period of the previous year, and for the whole 2021 it amounted to EUR 33.9 million, up 29% (EUR 7.6 million).

Backlog in revenues for 2022 amounted to EUR 195.2 million, up 14% YoY.

- Such a big improvement in the financial results of ASEE Group (including Payten) in 2021, compared with the previous year, resulted from the increase in the scale of operations of all three main business units of the Group as well as from the improvement in efficiency of Payment solutions and Dedicated solutions. Better performance of ASEE Group (including Payten) was first of all due to the organic growth and, in a smaller degree, to the acquisitions. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

Payment solutions (Payten)

Sales revenues in Payten amounted to EUR 32 million in Q4 and to EUR 115.3 million after twelve months of 2021, which is up 19% and 12% respectively compared with the corresponding periods of the previous year. In Q4 increased sales revenues were generated by the POS & ATM related services business lines as well as e-commerce whereas in the whole year the biggest increase in sales revenues (up EUR 4.4 million) was achieved by the POS related services business line. Operating profit of the Payment solutions in Q4 amounted to EUR 4.8 million, up EUR 2.4 million (104%), and at the end of 2021 it totaled EUR 19.5 million, up EUR 4.9 million (34%) compared with 2020.

Consolidated EBITDA in Q4 2021 amounted to EUR 7.9 million, up EUR 2.3 million (40%) compared with the corresponding period of the last year, whereas after twelve months of 2021 it achieved EUR 32 million, up EUR 4.1 million (15%) compared with the previous year.

Banking solutions

Sales revenues of the Banking solutions reached in Q4 2021 EUR 15.2 million, up over EUR 0.9 million (7%) compared with the corresponding period of the previous year and EUR 51.5 million at the end of 2021, up EUR 5.1 million (11%) compared with 2020. Bigger sales revenues in Q4 and in the whole 2021 were generated by the multichannel and security solutions business lines.

Operating profit in Q4 2021 amounted to EUR 4.4 million, down EUR 0.3 million (-6%) compared with Q4 2020, whereas it reached EUR 13.1 million after 12 months of 2021, up EUR 1.3 million (11%) compared with the corresponding period of the previous year.

Consolidated EBITDA in Q4 2021 totaled EUR 5.1 million, down EUR 0.2 million (-4%), but at the end of 2021 it amounted to EUR 15.7 million, up EUR 1.4 million (9%) compared with 2020.

Dedicated solutions

Sales revenues of the Dedicated solutions in Q4 2021 amounted to EUR 30.1 million, down EUR 2.5 million (-8%) compared with the corresponding period of the previous year, whereas in 2021 they reached EUR 83.7 million, up EUR 3.5 million (4%) compared with 2020. Decrease in sales revenues in Q4 2021 resulted from decreased sales revenues of third party infrastructure and solutions business lines which was partly compensated by increased sales revenues of ASEE Group proprietary solutions which also grew in the whole year.

Decrease in sales revenues translated into decrease in operating profit amounting to EUR  2.4 million in Q4, down EUR 0.2 million compared with the corresponding period of the last year. However after twelve months of 2021 operating profit reached EUR 7 million, up EUR 1 million (17%) compared with 2020.

EBITDA of the Dedicated solutions amounted to EUR 2.8 million in Q4, down EUR 0.1 million compared with Q4 2020, whereas in 2021 it totaled EUR 8.8 million, up EUR o 1.2 million (15%) compared with the previous year.

 

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