Expanding to New Markets

In the second quarter of this year we continued our efforts to expand beyond the SEE region.

A message from Piotr Jeleński 

In the second quarter of this year we continued our efforts to expand beyond the SEE region. We are excited to have signed an agreement with the Morocco telecom for the supply of ASEE payment gateway solution NestPay. After Italy Morocco is the second completely new market for Asseco South Eastern Europe with successful significant sale this year and the first reference for us in Africa.

Apart from the expansion into a brand new market we have signed a number of interesting contracts in the SEE region too such as the contract for the implementation of the ASEE core banking system in Turkish Ziraat bank in two more countries from the region – Montenegro and Kosovo, a contract for the delivery of products and services for ING Bank in Romania for its payment terminal network or POS outsourcing contracts for NLB Montenegrobanka in Montenegro and Istarska Kreditna Banka in Croatia. What is more, Asseco SEE in Serbia was announced a leading provider of IT services in Serbia in 2014 which is one more important recognition of our expertise and work. 

The second quarter of 2015 was also the fifth quarter in a row when we recorded better financial results compared to the same periods of the previous years. The biggest percentage growth was recorded by the Banking business unit, where revenue increased as much as 22% after the second quarter, whereas the Payment business unit had the highest growth in value - EUR 3 million (20%) compared with the first six months of the previous year. These figures also result from the trends which were already visible in the first three months of this year – revenue growth and profitability improvement in the Banking and Payment business units whereas worse than last year figures recorded by the System Integration business unit. Another positive contributor to our good results was a bigger share of revenue from own services and solutions in the revenue structure of the ASEE Group which resulted in higher profit margins. Sales revenue of own services and solutions amounted to 62% of total revenue in the first half of 2015 whereas in the same period of the last year it was 57%. We will continue our strategy of focusing on the sale of own solutions and services.

After the first six months of the year I am optimistic about the results which we can expect for the whole 2015. I am convinced it will be a good year for Asseco South Eastern Group.

Piotr Jeleński

CEO, Group President of Management Board of Asseco South Eastern Europe