Estimated Q2 and H1 2024 financial results of ASEE Group
Sales revenues of ASEE Group up 12% in Q2 2024
Warsaw, 26 July 2024: ASEE Group, (GPW: ASEECOSEE, ASE) has announced estimated Q2 and H1 2024 financial results according to which sales revenues, including hyperinflation effect reporting, amounted to EUR 92.4 million in Q2 and to EUR 177.4 million in H1 2024, up 12% and 8% compared with corresponding periods of 2023.
The biggest increase in sales revenues in Q2 2024, compared with a corresponding period of 2023, was generated by Payment solutions (+EUR 3.7 million) and amounted to EUR 46.4 million. Sales revenues of Dedicated solutions (+EUR 1.2 million) reached EUR 27.5 million. Banking solutions recorded a small decrease in sales revenues (-EUR 0.2 million) compared with Q2 2023 and totaled EUR 17 million.
Operating profit of ASEE Group in Q2 2024, including hyperinflation effect reporting, amounted to EUR 10 million, down -15% compared with Q2 2023. The biggest increase in operating profit in Q2 2024 was generated by Payment solutions (+EUR 1.7 million) where it totaled EUR 8.4 million. Operating profit of Banking solutions was at the same level as in Q2 2023 and amounted to EUR 3.9 million. At the same time Dedicated solutions observed a drop in operating profit by - EUR 4.4 million.
EBITDA of ASEE Group in Q2 2024, including hyperinflation effect reporting, totaled EUR 15.6 million, down -6% compared with Q2 2023. EBITDA of Payment solutions grew most (+EUR 1.9 million) and amounted to EUR 11.8 million, whereas EBITDA of Banking solutions was at a similar level as in a corresponding period of the last year (+EUR 0.1 million) and amounted to EUR 4.7 million. On the other hand EBITDA of Dedicated solution was down -EUR 4 million.
As far as H1 2024 is concerned the biggest sales revenues increase was achieved by Payment solutions and reached EUR 87.6 million, up EUR 8.3 million compared with a corresponding period of the last year. Sales revenues of Banking solutions after six months of 2024 amounted to EUR 33.7 million, up EUR 1.2 million compared with six months of 2023, and in Dedicated solutions to EUR 54.2 million, down - EUR 0.8 million.
Operating profit of ASEE Group in H1 2024, including hyperinflation effect reporting, totaled EUR 21 million, down -7% compared with H1 2023. The largest increase in operating profit was achieved by the Payment Solutions, reaching EUR 14.9 million (+EUR 3.3 million). The operating profit of the Banking Solutions saw a slight increase compared to the first half of 2023, reaching EUR 8 million (+EUR 0.4 million) in the first half of 2024, while the operating profit of the Dedicated Solutions segment decreased by EUR 5.8 million.
On the other hand, the EBITDA value of the ASEE Group in the first half of 2024 reached EUR 32 million, remaining at the same level as in the first half of 2023. The largest increase in EBITDA was recorded by the Payment Solutions segment (+EUR 3.6 million), with EBITDA amounting to EUR 21.8 million. The Banking Solutions segment noted a slight increase (+EUR 0.5 million) with EBITDA amounting to EUR 9.5 million, while in the Dedicated Solutions segment, EBITDA decreased by EUR 5.1 million compared to the first half of 2023.
"The second quarter of 2024 was very good for the Payment Solutions segment, which proved to be the main driver of ASEE Group's year-over-year operating profit growth. This was mainly due to the e-Commerce business line (transaction growth of 26%), the IPD line (transaction growth of 38%), and payment card processing (transaction growth of 18%). The decline in operating profit for the Dedicated Solutions segment was primarily the result of write-offs made for a telecommunications project," commented Piotr Jeleński, ASEE & Payten Group CEO
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