Operating profit of ASEE Group up 4% in Q1 2024
Payment solutions main driver of growth
Warsaw, 25 April 2024: ASEE Group, (WSE: ASEECOSEE, ASE) has announced estimated first-quarter 2024 financial results according to which the company generated sales revenues amounting to EUR 85 million in Q1, up 5% compared with a corresponding period of 2023.
The biggest increase in sales revenues in Q1 2024, compared with a corresponding period of the last year, was generated by Payment solutions (+ EUR 4.6 million, up 13%) and amounted to EUR 41.2 million. This growth was generated mainly by e-Commerce and Processing business lines which grew by EUR 3.7 million together. Banking solutions grew by EUR 1.4 million reaching EUR 16.7 million, up 9%, thanks to omnichannel and security solutions. Sales revenues of Dedicated solution decreased by EUR 2 million, down 7%, compared with Q1 2023 and amounted to EUR 26.6 million.
Operating profit of ASEE Group totaled EUR 11 million in Q1 2024 and EBITDA EUR 16.4 million, up 4% and 6% respectively. The biggest increase in operating profit in Q1 2024 was achieved by Payment solutions (+EUR 1.6 million) and amounted to EUR 6.6 million, up 32%, followed by Banking solutions (+EUR 0.4 million) where operating profit reached EUR 4.1 million, up 10%. Operating profit of Dedicated solutions decreased by EUR 1.5 million and amounted to EUR 0.4 million.
Better financial performance of ASEE Group in Q1 2024 resulted mainly from the growth in Payment solutions – commented Piotr Jeleński, ASEE & Payten Group CEO.
Links
Video presentation of the financial results for Q1 2024 and business update
Presentation of the financial results for Q1 2024 and business update
Consolidated financial report for Q1 2024
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 3,900 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