Asseco with strong results after three quarters of 2024 and a solid order backlog for the whole of this year

During the three quarters of 2024, the Asseco Group generated sales revenues of PLN 12.6 billion (EUR 2.9 billion), of which more than PLN 9.9 billion (EUR 2.3 billion) were sales of its proprietary IT products and services. Operating profit was 10% higher than in the comparable period of 2023, at PLN 1.3 billion (EUR 299 million), and net profit attributable to shareholders of the parent company, after a 7% increase, amounted to PLN 369 million (EUR 86 million). The Group continued its stable growth and increased the scale of its international operations also through acquisitions.

During the reported period, the Group developed its operations both in Poland and abroad. Sales revenues in the Asseco Poland segment increased by 5% and amounted to PLN 1.5 billion (EUR 347 million), mainly thanks to higher sales in the finance area and the strengthening of the strategic position in solutions for public institutions.

The Group's results are strongly diversified, with 88% of sales coming from foreign markets represented by the Formula Systems and Asseco International segments. Sales of the Asseco International segment amounted to PLN 2.9 billion (EUR 685 million), which, excluding the effect of exchange rate differences, represents an increase of 8% compared to the three quarters of 2023. The segment's higher revenues resulted from increased sales in the Asseco South Eastern Europe Group, mainly in the area of payments, as well as higher sales of ERP solutions in the Asseco Enterprise Solutions Group. The Formula Systems segment, in turn, recorded PLN 8.2 billion (EUR 1.9 billion) in revenues. Excluding the effect of exchange rate differences, this represents an increase of 6% compared to the same period in 2023. The Formula Systems Group companies are growing steadily and remain active in the area of acquisitions.

Asseco's consolidated order backlog for 2024, in the area of proprietary software and services, is now worth PLN 13.2 billion (EUR 3.1 billion). In fixed exchange rates, in which the backlog for 2023 was calculated, it is 10% higher than in the same period a year ago.

"We achieved good financial results for the three quarters of this year, which are the consequence of consistent implementation of our growth strategy, based on geographic, product and sector diversification. Excluding the effect of changes in exchange rates, our revenues grew by 6% during the period, and operating profit by 16%. We continue to increase the scale of our business and are active in M&A. Since the beginning of 2024, 11 companies have joined the Group, operating in the Israeli, American and Portuguese markets, as well as in India and the United Arab Emirates, among others. In addition, we are steadily building the backlog, which allows us to look with optimism for the whole of 2024 and further into the future," said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.