Growth trend maintained at Asseco SEE after 3 quarters of 2017
Asseco South Eastern Europe Group has announced third-quarter and nine-month 2017 results according to which the company recorded 8% increase in sales revenues after first nine months of 2017 compared with the same periods of 2016 reaching EUR 96.5 million.
9 months 2017
- Sales revenues amounted to EUR 96.5 million, up 8%
- Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 36.5 million, up 12%
- Double-digit sales revenues growth in the Banking business unit – revenues totaling EUR 24.7 million, up 10%
- Operating profit amounting to EUR 10.3 million, up 24%
- Operating profitability amounting to 10.7%
- Net profit reaching EUR 8.7 million, up 21%
The biggest increase in sales revenues after the first nine months of 2017 was recorded by the Payment business unit and amounted to EUR 36.5 million, up 12% (EUR 3.8 million) compared with the same period of the last year. Sales revenues from the infrastructure part of the payment business grew mostly in Romania and Croatia in the first nine months of 2017. In the Banking business unit sales revenues also recorded double digit growth reaching EUR 24.7 million, up 10% (EUR 2.3 million) compared with the first three quarters of the previous year. The biggest increase was recorded mainly in Croatia by mobile and authentication solutions. Small increases in sales revenues were also achieved by the Systems Integration business unit and amounted to 3% reaching sales revenues of EUR 35.2 million after the first nine months. The biggest increases in the first three quarters of 2017 were reported in Romania.
Increased sales revenues in the Banking business unit as well as of own services in the Payment business unit resulted in the increased sales revenues of own products and solutions in total sales revenues of ASEE Group. After three quarters of 2017 they amounted to 63.2% compared with 61.2% in the same period of the last year.
- Despite decreased growth dynamics in the third quarter, it was a very good quarter for Asseco SEE. We signed a few important long-term agreements within banking and payment business which allow us to look with optimism into the future. We maintain double-digit net profit growth rate. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Operating profitability of ASEE Group after the first nine months of 2017 reached 10.7%. Whereas net profit after three quarters of 2017 totaled EUR 8.7 million, up 21% compared with the same period of the last year. The company announced backlog value for 2017 amounting to EUR 125 million which is at the same level as in 2016.