Asseco South Eastern Europe announced results after Q3 2016
Asseco South Eastern Europe Group, (Asseco SEE, ASEE) has announced third-quarter 2016 financial results according to which the company recorded 7% increase in sales revenues after three quarters of this year compared with the same period of the previous year.
- Sales revenues amounted to EUR 89.5 million, up 7%
o Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 32.7 million, up 13%
- Operating profit amounting to EUR 8.3 million
- Operating profitability amounting to 9.3%
- Net profit totaling EUR 7.2 million
- Backlog for 2016 reaching EUR 121.6 million, up 13%
The increase in sales revenues was mainly generated by the Payment business unit reaching after three quarters of 2016 EUR 32.7 million, up EUR 4 million (13%) compared with the same period of the last year. The growth was achieved primarily in the physical payment part in Romania (up almost EUR 1.9 million), where new POS and ATM outsourcing agreements were signed. The Systems Integration business unit’s sales revenues totaled EUR 34.4 million, up EUR 2.8 million (9%) compared with the same period of 2015. Sales revenues in the Banking business unit after nine months of 2016 amounted to EUR 22.5 million, down EUR 0.7 million (3%) compared with the same period of the last year.
- Despite worse results compared with the same period of the last year resulting from the planned investment in the production and sales forces, the third quarter of 2016 was interesting in terms of the business deals. We signed, among others, the agreement with Delhaize Serbia, part of Ahold Delhaize, world leading food retailer, within card transaction processing area which is new for us. We also received a license for Paratika, electronic payment solution provider for merchants in Turkey. Whereas in Romania we generated first revenues from ATM delivery and maintenance - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Operating profit (EBIT) after three quarters of 2016 amounted to EUR 8.3 million, down 10% compared with the same period of the last year.
Operating profitability of ASEE Group after 9 months of 2016 amounted to 9.3%.
The ASEE Group’s net profit for the three quarters of 2016 totaled EUR 7.2 million and was lower by 8% compared with the three quarters of 2015.
The company announced backlog value for 2016 amounting to EUR 121.6 million, up 13% compared to the same period of the last year.