Operating profit of ASEE Group in Q1 2022 up 19%
Payment and Dedicated solutions main drivers of growth
- Double-digit growth in sales revenues which amounted to EUR 67 million, up 21%
- Double-digit growth of operating profit which amounted to EUR 10.1 million, up 19%
- Double-digit growth of EBITDA which totaled EUR 14.6, up 16%
- Operating profitability amounting to 15%
- Double-digit growth of net profit which reached EUR 8.7 million, up 23%
- Double-digit growth of backlog of ASEE Group for Q2 in revenues which amounted to EUR 76.4 million, up 32%
Warsaw, 28 April 2022: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced first-quarter 2022 financial results according to which the company recorded 21% increase in sales revenues compared with the same period of 2021 generating EUR 67 million sales revenues.
The biggest sales revenues growth in Q1 2022 was generated by Payment solutions and Dedicated solution where they amounted to respectively EUR 32,6 million and EUR 22.2 million, up EUR 6.1 million (that is up 23% in Payment solutions and up 38% in Dedicated solutions) compared with a corresponding period of the previous year.
Operating profit of ASEE Group in Q1 2022 was up 19% (EUR 1.7 million) compared with Q1 of the previous year and amounted to EUR 10.1 million whereas EBITDA totaled EUR 14.6 million in Q1 2022, up 16% (EUR 2 million) compared with Q1 2021.
Consolidated net profit of ASEE Group in Q1 2022 amounted to EUR 8.7 million, up EUR 1.6 million (23%), compared with a corresponding period of the previous year.
Backlog in revenues for Q2 2022 amounted to EUR 76.4 million, up 32% compared to Q2 2021.
- Further improvement of financial results of ASEE Group in Q1 2022 results mainly from a bigger scale of operations in Payment and Dedicated solutions. Bigger scale of operations resulted partially from the consolidation of a few new companies in ASEE Group. Since the second half of 2021 ASEE Group has been consolidating the results of e-commerce company ContentSpeed, BPM companies IT Sistemi and eVision, payment gateway company WSPay as well as card payment systems company Smarttek, whereas starting from 2022 we have been consolidating BSTS, a company offering telco, traffic and Smart City solutions. - 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 32.6 million in Q1 2022 up EUR 6.1 million (23%) compared with the corresponding period of the previous year. In Q1 considerable increases in sales revenues were generated by the POS related services business line (EUR 3.5 million) followed by e-commerce (EUR 1.6 million) and ATM related services (EUR 0.8 million). Operating profit of Payment solutions in Q1 2022 amounted to EUR 5.4 million, up EUR 1.4 million (35%), compared with Q1 2021.
Consolidated EBITDA in Q1 2022 amounted to EUR 8.7 million, up EUR 1.5 million compared with a corresponding period of the last year.
Sales revenues of Banking solutions reached in Q1 2022 EUR 12.2 million, down EUR 0.5 million (-4%) compared with a corresponding period of the previous year.
Operating profit in Q1 2022 amounted to EUR 2.7 million, down EUR 0.7 million (-22%) compared with Q1 2021, whereas consolidated EBITDA totaled EUR 3.3 million, down EUR 0.7 million (-18%).
Sales revenues of Dedicated solutions in Q1 2022 amounted to EUR 22.2 million, up EUR 6.1 million (38%) compared with a corresponding period of the previous year. This increase results partially from the consolidation of the results of the companies bought in 2021 and operating in traffic management and BPM solutions sectors. The organic growth, on the other hand, was generated by Serbian and Turkish operations by proprietary solutions business line and in Romania by third party solutions business line.
Operating profit in Q1 2022 amounted to EUR 1.9 million, up EUR 1.0 million (110%) compared with a corresponding period of the last year whereas EBITDA of Dedicated solutions amounted to EUR 2.6 million, up EUR 1.2 million (92%) compared with Q1 2021.
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 3,400 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