During the first three quarters of 2024, the Asseco Group generated 12.6 billion PLN in sales revenue, of which more than 9.9 billion PLN comprised the sale of its own products and IT services. The operating profit was 10% higher than in the comparable period in 2023, amounting to 1.3 billion PLN, while the net profit attributed to the shareholders of the parent company, after an increase of 7%, was 369 million PLN. The Group continued a stable development, expanding the scale of international business, thanks also to acquisitions.
During this reported period, the Group developed its operations in Poland and abroad. Revenues from sales in the Asseco Poland segment increased by 5% to 1.5 billion PLN, mainly due to higher sales in the finance sector and strengthening strategic position in the solutions for public institutions.
The Group’s results are highly diversified – 88% of sales come from foreign markets represented by the Formula Systems and Asseco International segments. The sale of the Asseco International segment reached 2.9 billion PLN which, excluding the effect of exchange rate differences, represents an increase of 8% compared to the first three quarters of 2023. Higher revenues from this segment are the result of increased sales in the Asseco South Eastern Europe Group, mainly in the payments sector, as well as higher sales of ERP solutions in the Asseco Enterprise Solutions Group. The Formula Systems segment, on the other hand, reported revenues of 8.2 billion PLN. Excluding the effect of exchange rate differences, this is a growth of 6% compare to the same period of 2023. Companies from the Formula Systems Group continue to develop steadily and remain active in the acquisition field.
Asseco’s consolidated order portfolio for 2024, in the area of proprietary software and services, currently stands at 13.2 billion PLN. In the constant exchange rates in which the backlog for 2023 was converted, it is 10% higher than in the same period last year.
“We have achieved good financial results for the first three quarters of the current year, which are the result of the consistent implementation of the development strategy, based on geographic, product, and sector diversification. Excluding the impact of exchange rate changes, our revenues grew by 6% in this period, and operating profit by 16%. We constantly increase the scale of the business and we are active in the M&A area. Since the beginning of 2024, 11 companies have joined the Group, operating, among others, in the Israeli, American, Portuguese, Indian, and United Arab Emirates markets. In addition, we are systematically building up the backlog, which gives us an optimistic outlook for the whole of 2024 and further into the future.” – said Karolina Rzońca-Bajorek, Vice President of the Management Board, CFO of Asseco Poland.
Source: https://managerplus.pl/asseco-z-dobrymi-wynikami-po-trzech-kwartalach-2024-roku-99772
