Operating profit of ASEE Group up 32% in Q1 2021
Dynamic growth in sales revenues in the Banking business unit amounting to 36%
- Double-digit growth in sales revenues in Banking business unit reaching EUR 12.7 million, up 36%
- Double-digit growth in net profit which amounted to EUR 7.1 million, up 33%
- Double-digit growth in operating profit which totaled EUR 8.5 million, up 32%
- Operating profitability amounting to 12.3%
- Double-digit growth of EBIDTA which reached EUR 12.6 million, up 16%
- Backlog amounting to EUR 187.3 million, up 7%
Warsaw, 29 April 2021. ASEE Group (WSE: ASSECOSEE, ASE) has announced first-quarter 2021 financial results which once again were better than the results in the corresponding period of the last year.
Sales revenues of ASEE Group in the first quarter of 2021 amounted to EUR 55.3 million, up 5% (EUR 2.7 million) compared with the corresponding period of the last year. The biggest increase, up as much as 36%, was generated by the Banking business unit where revenues reached EUR 12.7 million. Operating profit of the Group amounted to more than EUR 8.5 million and EBITDA to EUR 12.6 million, up 32% and 16% respectively.
- Such a good financial performance of ASEE Group after the first quarter of 2021 results from a dynamic increase in sales revenues in the Banking business unit which contributed to high profitability of the Group. Sales revenues grew mainly in the omnichannel solutions business line and core banking and other solutions business line. In Payten the biggest sales revenues came from POS related services business line, including new business lines ECR and IPD and very good e-Commerce business line results. Additionally following our strategy of expanding product portfolio within payments we bought in February Vebspot, owner of e-Commerce platform - commented Piotr Jeleński, CEO of ASEE Group.
ASEE Group’s first-quarter net profit totaled EUR 7.1 million, up 33 % compared with the first three months of 2020. The company announced backlog value for 2021 amounting to EUR 187.3 million, up 7% compared with the last year.
Payment business unit (Payten)
Sales revenues of Payment business unit in the first quarter of 2021 amounted to EUR 26.5 million, up 6% (EUR 1.5 million). Operating profit grew by EUR 0.4 million (up 12%) and totaled EUR 4.1 million. EBITDA reached EUR 7.2 million which is up by EUR 0.2 million compared with the corresponding period of the last year.
Banking business unit
Sales revenues of the Banking business unit in the first quarter of 2021 reached EUR 12.7 million, up 36% (EUR 3.4 million) compared with the first three months of the last year. Operating profit amounted to EUR 3.5 million, up 133% (EUR 2.0 million). EBITDA grew by EUR 2.0 million (up 98%) and totaled almost EUR 4.1 million.
Dedicated solutions business unit
Sales revenues of Dedicated solutions business unit decreased in the first quarter of 2021 by EUR 2.1 million (-12%) and amounted to EUR 16.1 million compared with the first quarter of the last year. Operating profit totaled EUR 0.9 million and was lower by almost EUR 0.4 million (-30%). EBITDA decreased by EUR 0.4 million (-24 %) and amounted to EUR 1.3 million.
About Asseco SEE
Asseco SEE 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. Asseco SEE Group employs over 3,000 people in 23 countries. More than 10 banks out of the 15 largest ones in Southeastern Europe are already clients of Asseco SEE.
Marcin Rulnicki, CFO
Asseco South Eastern Europe S.A.
ul. Branickiego 13
Tel.: +48 22 5748630