Solid Fourth-Quarter 2016 and Good Full-Year Results of Asseco South Eastern Europe
Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced fourth-quarter 2016 and full-year financial results according to which the company recorded 24% and 12% increase in sales revenues respectively compared with the same periods of 2015 year.
Fourth-Quarter 2016:
- Sales revenues amounted to EUR 40.9 million, up 24%
- Double-digit sales revenues growth in the Banking business unit – revenues reaching EUR 11 million, up 22%
- Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 12.9 million, up 37%
- Double-digit sales revenues growth in the Systems Integration business unit – revenues reaching EUR 17 million, up 18%
- Operating profit amounting to EUR 4.6 million, up 37%
- Operating profitability amounting to 11%
- Net profit totaling EUR 4.6 million, up 78%
Full-Year 2016:
- Sales revenues amounted to EUR 130.4 million, up 12%
- Double-digit sales revenues growth in the Payment business unit – revenues reaching EUR 45.6 million, up 19%
- Double-digit sales revenues growth in the Systems Integration unit – revenues reaching EUR 51.4 million, up 12%
- Operating profit amounting to EUR 13 million, up 2%
- Operating profitability amounting to 10%
- Net profit totaling EUR 11.8 million, up 13%
- Backlog for 2017 reaching EUR 79.1 million, up 2%
Fourth-quarter 2016 increase in sales revenues was reported by all business units of the ASEE Group. The biggest growth, as much as 37% compared with the last three months of 2015, was generated by the Payment business unit reaching EUR 12.9 million. Bigger sales revenues came mainly from the part responsible for ATM and POS maintenance in Romania, Serbia and Macedonia. In Serbia ChipCard, responsible for card processing, contributed additionally to the level of sales revenues. Fourth-quarter 2016 was very good for the Banking business unit. Banking sales revenues grew over 22% compared with the same period of the last year totaling EUR 11 million. The biggest amounts were generated by authentication and mobile solutions sold by ASEE in Croatia. Sales revenues in the Systems Integration business unit amounted to EUR 17 million in the fourth-quarter, up 18% compared with the same period of the previous year. Bigger revenues came mainly from the part responsible for the delivery of third party software and infrastructure and for integration services in Macedonia, Serbia and Romania.
- Solid fourth-quarter 2016 contributed to good full-year results. In the last three months of 2016 we observed a big interest in our authentication and mobile solutions as well as Digital Edge propriety omnichannel platform enabling banks their digital transformation. I was also glad to see an increased demand for our Live contact center solution which we sold, among others, to the Eurasia Tunnel connecting the European and Asian parts of Istanbul. - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Fourth-quarter operating profit (EBIT) amounted to EUR 4.6 million, up 37% compared with the same period of the previous year.
Operating profitability of ASEE Group for the fourth-quarter of 2016 amounted to 11%.
The ASEE Group’s fourth-quarter net profit totaled EUR 4.6 million and was higher by 78% compared with the last three months of 2015.
The company announced backlog value for 2017 amounting to EUR 79.1 million, which is up 2% compared with the last year.
