Solid second quarter 2018 of Asseco SEE thanks to increases in sales revenue in Payment business unit and System Integration
Warsaw, 9 August 2018: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced second-quarter and half-year 2018 financial results according to which the company recorded 5% increase in sales revenues compared with the first half of 2017 reaching EUR 37 million in the second quarter and EUR 70.1 million after six months of 2018.
Q2 2018
- Sales revenues amounted to EUR 37 million, up 4%
- Double-digit sales revenues growth in the System Integration business unit – revenues totaling EUR 14.9 million, up 12%
- EBIDTA amounting to EUR 6.8 million, up 4%
- Operating profitability amounting to 11%
H1 2018
- Sales revenues amounted to EUR 70.1 million, up 5%
- Double-digit sales revenues growth in the Payment business unit – revenues totaling EUR 29.1 million, up 15%
- EBIDTA amounting to EUR 12.5 million, up 7%
- Operating profitability reaching 10%
- Net profit totaling EUR 6.3 million, up 4%
The biggest increase in sales revenues after the first half of 2018 was generated by the Payment business unit and amounted to EUR 29.1 million, up 15% (EUR 3.7 million) compared with the same period of the last year. Major part of it was generated by the ATM maintenance business line. Whereas sales revenues in the System Integration business unit in the first half of 2018 totaled EUR 24.6 million which is EUR 165k more than after first six months of 2017. However in the second quarter of 2018 System Integration business unit recorded the biggest in percentage growth in sales revenues, up 12% compared with the same period of the last year, generating revenues of EUR 14.9 million. On the other hand the Banking business unit had slightly smaller sales revenues in the first half of 2018 than after first six months of 2017, down 2%, totaling EUR 16.5 million.
Financial results of ASEE Group in the second quarter of 2018 are comparable with a very good second quarter of the last year. I am glad that this was thanks to the so far weakest System Integration business unit as well as to consistently strong performance of Payment business unit, especially business lines responsible for POS maintenance and card processing. Among news it is worth mentioning that we have extended our Payment offer with new independent own ATM network MoneyGet deployed in tourist destinations in Croatia and Montenegro. However since it is just launched the business results of MoneyGet will come in future - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Operating profit of the ASEE Group after six months of 2018 remained similar to operating profit in the first half of 2017 and amounted to EUR 7.3 million, up 1%. The biggest increase in operating profit, as much as 33% compared with the corresponding period of the last year, was generated by the Payment business unit and amounted to EUR 4.6 million making up for the decreases in other two ASEE Group business units.
Operating profitability of ASEE Group in the first half of 2018 reached 10%. Whereas net profit after 6 months of 2018 totaled EUR 6.3 million, up 4% compared with the same period of the last year. The company announced backlog value for 2018 amounting to EUR 124.4 million, up 10% compared with 2017.
