Record-breaking revenues and dynamic expansion in foreign markets - Asseco Group after first half of 2015.
Asseco Group generated PLN 3.3 billion in sales revenues in the first two quarters of 2015, achieving a 13% improvement as compared with the first half of 2014. Operating profit reached PLN 334 million, growing by 13% as compared with the corresponding period last year. Revenues from proprietary software and services increased by 16% to the level of PLN 2.7 billion. Net profit attributable to shareholders of the parent company amounted to PLN 138 million.
On 27 August 2015, Asseco Group published its financial results for the first half of 2015. Its sales revenues reached PLN 3.3 billion, growing by 13% as compared with the corresponding period of 2014. Most of the Group’s sales were generated by foreign operations which accounted 77% of total revenues. Asseco Group’s revenues are well diversified into the following sectors: general business – 44%, banking and finance – 35%, and public administration – 21%. Asseco is firmly committed to its development strategy based on the sale of proprietary software solutions, which in the analyzed period generated PLN 2.7 billion or 82% of our total revenues.
In the first half of the year, Asseco carried on working with its major clients and got actively involved in new projects. During the past 6 months, the Group signed 4,896 contracts and agreements. In August 2015, our order backlog for this year exceeded PLN 6 billion and was 16% higher than in August 2014.
“We are very pleased with our record-high revenues in the first half of 2015. Such favourable performance is primarily the effect of our successful investments and operations in foreign markets. The key to our dynamic development is further integration of our businesses, not only in geographical terms but also in specific market sectors and competencies. That is why we have undertaken several initiatives aiming to optimize the organizational structure of Asseco Group, which are reflected by changes in the ownership in Insseco, as well as by the establishment of Asseco Data Systems and Asseco Western Europe,” said Adam Góral, President of Asseco Poland S.A.
In the first half of the year the Group took two steps in order to streamline its organizational structure. Insseco, which serves the commercial insurance industry in Poland, has been merged with Sapiens, a company of the Group that a leading global provider of software solutions for the insurance industry. This has provided the Polish team with new opportunities for development, also at the international level. Furthermore, Asseco Poland has started the process of building Asseco Data Systems (ADS) on the foundation of its 6 smaller-sized subsidiaries operating in Poland. The newly founded company will become one of the major players in the Polish IT industry. ADS will be a provider of products and services based on proprietary and third-party software, as well as of ICT infrastructure solutions. The company’s business will focus on enterprises and government organizations operating in local markets, and therefore it will be complementary to the operations of Asseco Poland which concentrates on large nation-wide projects in various sectors of the economy.
The development strategy of Asseco aims at further international expansion, particularly in the countries of Eastern Europe and Africa, as well as building competitive advantages of the Group by reinforcing its position in individual market sectors. The EU’s new financial perspective is also a promising factor which is going to bring some recovery in public administration projects. Concurrently, the Group will continue to focus on its core business which is the production of state-of-the-art software for companies and institutions.