Asseco South Eastern Europe SA: ASEE Group revenue in Q3 2022 up 53%
ASEE Group revenue in Q3 2022 up 53%
The company released third quarter 2022 financial results that are better than a corresponding period last year
Double-digit revenue growth which amounts to 88.1 million euros, up 53%
Double-digit growth in payment solutions revenue reaching €42.3 million, up 59%
Double-digit growth in Dedicated Solutions revenue to €28.4 million, up 47%
Double-digit growth in banking solutions revenue to €15 million, up 28%
- Double-digit growth in operating profit which amounts to EUR 12.0 million, up 18%
- Double-digit EBITDA growth which amounted to EUR 16.9, up 16%
- Operating profitability amounting to 14%
- Double-digit net income growth which reached EUR 10.9 million, up 30%
- Double-digit growth in the order book of the ASEE Group in turnover for the 4th quarter which amounted to 80.1 million euros, up 33%
Warsaw, October 26, 2022: Asseco South Eastern Europe Group, (WSE: ASEECOSEE, ASE) has announced financial results for the third quarter of 2022 according to which the company recorded a 53% (+ EUR 30.4 million) increase in revenue compared to the same period of 2021, generating EUR 88.1 million in revenue.
The strongest revenue growth in Q3 2022 was generated by Payment Solutions (+ €15.6 million), followed by Dedicated Solutions (+ €9.00 million) and Banking Solutions ( + €3.3 million).
ASEE Group’s operating profit in Q3 2022 increased by 18% compared to Q3 of the previous year and amounted to 12.0 million euros while EBITDA totaled 16.9 million euros. euros, up 16% compared to Q3 2021.
The consolidated net profit of the ASEE Group in the third quarter of 2022 amounted to nearly €11 million, up by €2.5 million (30%), compared to a corresponding period of the previous year .
The ASEE Group’s backlog as of October 24, 2022 amounted to €80.1 million, up 33% compared to the fourth quarter of 2021.
– The solid financial performance of ASEE Group in the third quarter of 2022, which contributed to an 11% increase in operating profit year-on-year, was mainly the result of a strong performance in payment solutions, in particular point-based services. sales, and a solid performance in banking solutions. – comments Piotr Jeleński, Chairman of the Management Board of Asseco South Eastern Europe SA
Payment solutions (Payten)
Payten’s revenue amounted to €42.3 million in the third quarter of 2022, up €15.6 million (+59%) compared to the corresponding period of the previous year . In the third quarter, revenue increases were generated by all business lines, with the strongest growth recorded by point-of-sale services (+8.8 million euros), followed by services related to ATMs (+€5.8 million). Payment Solutions operating income in Q3 2022 amounted to €7.1 million, up €1.1 million (+20%) compared to Q3 2021.
Consolidated EBITDA for the third quarter of 2022 amounted to €10.1 million, up €1.3 million (+15%) compared to a corresponding period last year.
Revenue from banking solutions reached €15 million in the third quarter of 2022, up €3.3 million (+28%) compared to a corresponding period of the previous year. The increase was mainly generated by central banking systems (+€0.5 million), multi-channel solutions (+€1.7 million) and security solutions (+€1.0 million) ). Q3 2022 operating profit amounted to €3.1 million, up €0.5 million (+19%) compared to Q3 2021, while consolidated EBITDA increased at €3.8 million, up €0.5 million (+16%) compared to Q3 2021.
Dedicated solutions revenue in the third quarter of 2022 increased by €9.00 million (+47%) compared to the corresponding period of the previous year and amounted to €28.4 million. euros. This increase is partly due to the consolidation of the results of companies operating in the traffic management and BPM solutions sectors. The most significant organic growth was generated by the Romanian operations and, on a smaller scale, by the Serbian operations within third-party solutions.
Dedicated Solutions operating income for the third quarter 2022 amounted to €1.5 million, down €0.5 million (-25%) compared to a corresponding period last year while that EBITDA amounted to €2.3 million, down €0.2 million (-9%) compared to Q3 2021.
ASEE Group is one of the largest IT companies in the field of production and implementation of own software solutions and services in the region of South East Europe, Turkey, Spain, Portugal, Andorra, Colombia, Peru, Dominican Republic, Slovakia and the Czech Republic. . The Company provides ICT solutions for various verticals, including financial industry, payments industry, public administration and telecommunications. The company provides products and services in the field of payments under the Payten name. Since October 2009, the shares of Asseco South Eastern Europe (WSE: ASEECOSEE, ASE) have been listed on the Warsaw Stock Exchange. The ASEE group employs nearly 3,700 people in 23 countries. More than 10 of the 15 largest banks in south-eastern Europe are already ASEE customers.
Monika Perek, CMO
Asseco South Eastern Europe SA
Ul. Branickiego 13
Such. : +48 22 574 86 38