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Double-Digit Growth of Operating Profit & EBITDA of ASEE Group in 2022

According to company’s full-year 2022 financial results operating profit and EBITDA up 17 percent compared with previous year

Fourth-Quarter 2022 Highlights:

  • Double-digit growth in sales revenues which amounted to EUR 103.4 million, up 34%
  • Double-digit growth of operating profit which amounted to EUR 13.1 million, up 15%
  • Double-digit growth of EBITDA which totaled EUR 18.1, up 15%
  • Operating profitability amounting to 12.7%

Full-Year 2022 Highlights:

  • Double-digit growth in sales revenues which amounted to EUR 333.9 million, up 33%
  • Double-digit growth of operating profit which amounted to EUR 46.1 million, up 17%
  • Double-digit growth of EBITDA which totaled EUR 65.9 million, up 17%
  • Operating profitability amounting to 13.8%
  • Double-digit growth of net profit which totaled EUR 41.8 million, up 24%
  • Double-digit growth of backlog of ASEE Group for 2023 in revenues which amounted to EUR 242 million, up 16%

Warsaw, 23 February 2023: ASEE Group, (WSE: ASEECOSEE, ASE) has announced fourth-quarter and full-year 2022 financial results according to which the company generated sales revenues amounting to  EUR 103.4 million in Q4 and EUR 333.9 million in 2022, up 34% and 33% respectively compared with a corresponding period of 2021.

The biggest sales revenues growth in Q4 and full-year 2022 was generated by Payment solutions where they amounted to EUR 47.3 million, up almost EUR 15.4 million (48%) compared with a corresponding period of the previous year. Whereas in the whole 2022 sales revenues of Payment solutions totaled EUR 160.6 million, up EUR 45.3 million (39%) compared with 2021.

Operating profit of ASEE Group in Q4 2022 was up 15% (EUR 1.7 million) compared with Q4 of the previous year and up 17% (EUR 6.7 million) compared with the whole previous year and amounted to EUR 13.1 million and EUR 46.1 million respectively.

EBITDA of ASEE Group in Q4 2022 was up EUR 2.3 million (15%) compared with Q4 2021 and reached EUR 18.1 million in Q4 2022, whereas after 12 months of 2022 it amounted to EUR 65.9 million up 17% (EUR 9.4 million).

Consolidated net profit of ASEE Group in Q4 2022 amounted to EUR 8.2 million, down EUR -2.3 million (-22%) compared with a corresponding period of the previous year, but for the whole 2022 it amounted to EUR 41.8 million, up 24% (EUR 8.2 million).

Backlog in revenues for 2023 amounted to EUR 242 million, up 16% YoY.

 - Such a big improvement in the financial results of ASEE Group (including Payten) in 2022, compared with the previous year, resulted from the increase in the scale of operations of all three main business units of the Group. Better performance of ASEE Group (including Payten) was first of all due to the organic growth and, in a smaller degree, to the acquisitions. ASEE digital technology solutions helped to support the digital transformation of our clients' businesses, enabling them to achieve their goals more efficiently and effectively; expertise and experience in core banking systems assured the support for the banks in the region during mergers projects and core replacements; Payten payment solutions contributed to the development of e-commerce and the whole payment sector. In proprietary Dedicated solutions the biggest growth was observed in the BMP and intelligent traffic systems solutions  - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

About ASEE

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 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

monika.perek@asseco-see.com

www.asseco.com/see


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