Sales revenues of ASEE Group in Q3 2022 up 53%
The company published Q3 2022 financial results which are better compared with a corresponding period of the last year
- Double-digit growth in sales revenues which amounted to EUR 88.1 million, up 53%
- Double-digit growth in sales revenues in Payment solutions reaching EUR 42.3 million, up 59%
- Double-digit growth in sales revenues in Dedicated solutions totaling EUR 28.4 million, up 47%
- Double-digit growth in sales revenues in Banking solutions amounting to EUR 15 million, up 28%
- Double-digit growth in operating profit which amounted to EUR 12.0 million, up 18%
- Double-digit growth in EBITDA which totaled EUR 16.9, up 16%
- Operating profitability amounting to 14%
- Double-digit growth in net profit which reached EUR 10.9 million, up 30%
- Double-digit growth in backlog of ASEE Group in revenues for Q4 which amounted to EUR 80.1 million, up 33%
Warsaw, 26 October 2022: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced third-quarter 2022 financial results according to which the company recorded 53% (+EUR 30.4 million) increase in sales revenues compared with the same period of 2021, generating EUR 88.1 million sales revenues.
The biggest sales revenues growth in Q3 2022 was generated by Payment solutions (+EUR 15.6 million) followed by Dedicated solutions (+EUR 9.00 million) and Banking Solutions (+EUR 3.3 million).
Operating profit of ASEE Group in Q3 2022 was up 18% compared with Q3 of the previous year and amounted to EUR 12.0 million whereas EBITDA totaled EUR 16.9 million, up 16% compared with Q3 2021.
Consolidated net profit of ASEE Group in Q3 2022 amounted to almost EUR 11 million, up EUR 2.5 million (30%), compared with a corresponding period of the previous year.
Backlog in revenues of ASEE Group as of 24 October 2022 amounted to EUR 80.1 million, up 33% compared to Q4 2021.
- Strong Q3 2022 financial performance of ASEE Group, which contributed to 11% increase in operating profit YoY, resulted mainly from a strong performance of Payment solutions, especially of POS related services, and a strong performance of Banking 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 42.3 million in Q3 2022, up EUR 15.6 million (+59%) compared with a corresponding period of the previous year. In Q3 increases in sales revenues were generated by all business lines with the biggest growth recorded by POS related services (+EUR 8.8 million), followed by ATM related services (+EUR 5.8 million). Operating profit of Payment solutions in Q3 2022 amounted to EUR 7.1 million, up EUR 1.1 million (+20%), compared with Q3 2021.
Consolidated EBITDA in Q3 2022 amounted to EUR 10.1 million, up EUR 1.3 million (+15%) compared with a corresponding period of the last year.
Sales revenues of Banking solutions reached EUR 15 million in Q3 2022, up EUR 3.3 million (+28%) compared with a corresponding period of the previous year. The increase was generated mainly by core banking systems (+EUR 0.5 million), multichannel solutions (+EUR 1.7 million) and security solutions (+EUR 1.0 million). Operating profit in Q3 2022 amounted to EUR 3.1 million, up EUR 0.5 million (+19%) compared with Q3 2021, whereas consolidated EBITDA totaled EUR 3.8 million, up EUR 0.5 million (+16%) compared with Q3 2021.
Sales revenues of Dedicated solutions in Q3 2022 grew by EUR 9.00 million (up 47%) compared with a corresponding period of the previous year and amounted to EUR 28.4 million. This increase results partially from the consolidation of the results of the companies operating in the traffic management and BPM solutions sectors. The biggest organic growth was generated by the Romanian operations and at a smaller scale by the Serbian operations within third party solutions.
Operating profit of Dedicated solutions in Q3 2022 amounted to EUR 1.5 million, down EUR 0.5 million (-25%) compared with a corresponding period of the last year whereas EBITDA totaled EUR 2.3 million, down EUR 0.2 million (-9%) compared with Q3 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 3,700 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