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Third-quarter 2019 financial results of Asseco SEE much better than last year

Double-digit growth in key financial indicators

Q3 2019 Highlights

  • Double-digit growth in sales revenues which amounted to EUR 52.7 million, up 49%

    • o Double-digit sales revenues growth in Payment business unit – revenues totaling EUR 22.7 million, up almost 78%
    • o Double-digit sales revenues growth in System Integration business unit – revenues reaching EUR 19.8 million, up 46%
    • o Double-digit sales revenues growth in Banking business unit – revenues reaching EUR 10.2 million, up 11%

  • Double-digit growth in net profit which reached EUR 5.8 million, up 36%
  • Double-digit growth in operating profit which totaled EUR 6.9 million, up 57%
  • Double-digit growth in EBIDTA which reached EUR 11 million, up 55%
  • Operating profitability amounting to 13.1%
  • Backlog for Q4 2019 according to revenues amounting to EUR 49.9 million, up 45%

 

Warsaw, 8 November 2019: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced third-quarter 2019 financial results which once again are better than in the same period of the previous year thanks to organic growth and acquisitions.

 

Sales revenues of Asseco SEE Group in the third quarter of 2019 amounted to EUR 52.7 million, up EUR 17.3 million (49%) compared with the same period of the previous year. Third-quarter 2019 operating profit of the ASEE Group amounted to EUR 6.9 million, up 57% (up EUR 2.5 million) compared to the third quarter of the previous year. EBITDA reached EUR 11 million, up 55% (EUR 3.9 million) whereas net profit totaled EUR 5.8 million, up 36% (EUR 1.5 million) compared with the same period of the last year. The company announced backlog value for Q4 2019 according to revenues amounting to EUR 49.9 million, up 45%, compared with Q4 2018, whereas according to Margin 1 to EUR 33.7 million, up 45% too.

 

- Third quarter of 2019 was extremely good for Asseco SEE Group. Very good performance resulted from the increase in scale and improvement of efficiency in Payment and Banking business units as well as from the consolidation of new companies. Necomplus, acquired at the beginning of this year, was joined in Q3 by Bassilichi, B Services and Sonet operating in Czech Republic and Slovakia, expanding thus our business to new markets, and Mobven in Turkey, thanks to which we have increased our expertise in mobile payments. I am also pleased with bigger than last year number of transactions processed by our MoneyGet independent ATM network, very good performance of eCommerce business line and continuous high interest in digital banking solutions in the region - commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.

 

Business unit results for third-quarter 2019

  • The biggest increase in sales revenues of ASEE Group, up as much as 78% (EUR 9.9 million), was recorded by the Payment business unit, where sales revenues amounted to EUR 22.7 million. The biggest growth was generated in the POS and ATM related services business lines. Sales revenues also grew in e-Commerce and Processing business lines. Operating profit of the Payment business unit doubled and amounted to EUR 3.8 million, up EUR 1.9 million.
  • Sales revenues of Banking business unit amounted to EUR 10.2 million, up 12% (EUR 1.1 million) compared with the same period of the previous year. The increase in sales revenues was recorded in core banking and other software business lines. Sales revenues of mobile solutions grew too. Operating profit of the Banking business unit amounted in the third quarter of 2019 to EUR 2.0 million, up 41% (that is up EUR 0.6 million).
  • Third-quarter 2019 sales revenues of the System Integration business unit totaled EUR 19.8 million, up 46% (EUR 6.3 million) compared with 2018 third-quarter sales revenues. Bigger sales revenues were recorded in the third party solutions as well as own solutions business lines. Operating profit of the System Integration business unit reached EUR 1.1 million, and was similar to the operating profit in the corresponding period of the last year.

 

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