Operating profit of ASEE Group in Q3 2023 up 13%
The company published Q3 2023 financial results which are better compared with a corresponding period of the last year
Warsaw, 25 October 2023: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced third-quarter 2023 financial results according to which the company generated EUR 88.3 million sales revenues which is comparable with a corresponding period of the last year.
In Q3 2023 the structure of sales revenues of ASEE Group changed. Sales revenues from own services, mainly implementation services as well as from SaaS, subscription and outsourcing were up EUR 10 million with parallel decrease in sales revenues of third party solutions.
Operating profit of ASEE Group in Q3 2023 was up 13% compared with Q3 of the previous year and amounted to EUR 13.4 million whereas EBITDA totaled EUR 18.5 million, up 9% compared with Q3 2023.
Consolidated net profit of ASEE Group in Q3 2023 amounted to almost EUR 14.1 million, up EUR 3.2 million (30%), compared with a corresponding period of the previous year.
Backlog in revenues of ASEE Group as of 23 September 2023 amounted to EUR 84.8 million, up 5% compared to Q4 2022.
- Better Q3 2023 financial performance of ASEE Group results mainly from the increase in sales revenues in Processing, e-Commerce, ECR and In-store payments business lines in Payment Solutions. Revenues growth was also observed in Dedicated Solutions both in proprietary solutions and in third party solutions. In Banking Solutions own services grew as usual - 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 38.1 million in Q3 2023, down EUR -4.1 million (-10%) compared with a corresponding period of the previous year. The decrease was observed in POS and ATM related services business lines, down EUR 4.7 million and down EUR 3.2 million respectively. This decrease was partially compensated with the sales revenues growth in IAD, In-store payments, ECR, e-Commerce and Processing business lines.
Operating profit of Payment solutions in Q3 2023 amounted to EUR 7.3 million, up EUR 0.7 million (+10%), compared with Q3 2022.
Consolidated EBITDA in Q3 2023 amounted to EUR 10.6 million, up EUR 0.5 million (+5%) compared with a corresponding period of the last year.
Banking Solutions
Sales revenues of Banking solutions reached EUR 16.3 million in Q3 2023, up EUR 1.3 million (+8%) compared with a corresponding period of the previous year. The increase was generated mainly by omnichannel solutions.
Operating profit in Q3 2023 amounted to EUR 3.2 million, up EUR 0.1 million (+4%) compared with Q3 2022, whereas consolidated EBITDA totaled EUR 3.9 million, up EUR 0.2 million (+5%) compared with Q3 2022.
Dedicated Solutions
Sales revenues of Dedicated solutions in Q3 2023 grew by EUR 1.00 million (up 3%) compared with a corresponding period of the previous year and amounted to EUR 29.3 million.
Operating profit of Dedicated solutions in Q3 2023 amounted to EUR 2.3 million, up EUR 0.8 million (+55%) compared with a corresponding period of the last year, whereas EBITDA totaled EUR 3.1 million, up EUR 0.8 million (36%) compared with Q3 2022.
About ASEE
ASEE Group (WSE: ASEECOSEE, ASE) 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 Group have been listed on the Warsaw Stock Exchange. ASEE Group employs over 3,800 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.
Ul.Branickiego 13
02-972 Warszawa
Tel.: +48 22 574 86 38