Good second quarter 2017 for Asseco SEE thanks to big increases in sales revenue in Payment business unit and continued improvement in Banking
Asseco South Eastern Europe Group has announced second-quarter 2017 and half-year financial results according to which the company recorded 12% increase in sales revenues compared with the same periods of 2016 year reaching EUR 35.5 million in the second quarter and EUR 66.6 million after six months of 2017.
- Sales revenues amounted to EUR 35.5 million, up 12%
- Double-digit sales revenues growth in the Banking business unit – revenues totaling EUR 9 million, up 13%
- Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 13 million, up 38%
- Operating profit amounting to EUR 4.2 million, up 36%
- Operating profitability amounting to 12%
- Net profit reaching EUR 3.7 million, up 33%
- Sales revenues amounted to EUR 66.6 million, up 12%
- Double-digit sales revenues growth in the Banking business unit – revenues reaching EUR 16.8 million, up 12%
- Double-digit sales revenues growth in the Payment business unit – revenues totaling EUR 25.3 million, up 27%
- Operating profit amounting to EUR 7.2 million, up 32%
- Operating profitability reaching 11%
- Net profit totaling EUR 6 million, up 30%
Payment business unit recorded the biggest increases in sales revenues after the first half of 2017 which amounted to EUR 25.3 million, up 27% compared with the same period of the last year. Major part of it was generated by infrastructure and processing deliveries. In the Banking business unit sales revenues of ASEE Group after the first six months of 2017 reached EUR 16.8 million, that is 12% more than in the corresponding period of the last year. Whereas sales revenues in the Systems Integration business unit in the first half of 2017 remained at a similar level compared with the same period of the last year and amounted to EUR 24.5 million. However because of a better project management and a decrease in operating costs this business unit recorded operating profit for the second quarter of 2017 amounting to EUR 0.8 million, which is an increase by EUR 0.3 million (48%) compared with the same period of the last year.
Sales revenues of own products and solutions in total sales revenues of ASEE Group amounted to 62.3% in the first half of 2017 compared with 60.7% in the same period of the last year.
- Half-year financial results 2017 of ASEE Group were much better than in the corresponding period of the last year. We achieved double-digit sales revenue growth in Payment and Banking business units. At the same time we managed to decrease operating costs and improve project management in the System Integration business unit. We have also started the first phase of earlier announced spin off of the Payment business unit in response to the dynamic changes happening on payment services market. An important event of the second quarter of 2017 was the purchase of 4.3% shares of ASEE by its managers. I am happy about it as it shows their long-term engagement in the project and a positive evaluation of the company’s growth perspectives - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Operating profitability of ASEE Group in the first half of 2017 reached 11%. Whereas net profit after 6 months of 2017 totaled EUR 6 million, up 30% compared with the same period of the last year. The company announced backlog value for 2017 amounting to EUR 112.9 million, up 4% compared with 2016.