Operating profit of ASEE Group in Q2 2022 up over 20%
Asseco South Eastern Europe Group has announced estimated second-quarter and half-year 2022 financial results which again are better compared with a corresponding period of the previous year.
– In the second quarter of 2022 good performance of ASEE Group resulted mainly from good performance of Dedicated and Payment solutions which contributed to a 20-percent growth in operating profit of the company. Dedicated solutions grew within new ITS (Intelligent Traffic Systems) business line whereas Payment solutions in e-commerce, POS related services and Processing – commented Piotr Jeleński, President of the Management Board of Asseco South Eastern Europe S.A.
Sales revenues of ASEE Group amounted to EUR 74.7 million in Q2 2022, up 23.7% (EUR 14.4 million) compared with a corresponding period of the previous year. The biggest increase in sales revenues, up 27%, was generated by Payment solutions which amounted to EUR 38.4 million. Operating profit of ASEE Group amounted to EUR 11.2 million and EBITDA to EUR 15.9 million in Q2 2022, up 20,1% and 17,4% respectively. Consolidated net profit amounted to EUR 9.8 million in Q2 2022, up 27.8% compared with Q2 of the previous year.
Payment solutions (Payten)
Sales revenues in Payten amounted to EUR 38.4 million in Q2 2022 up EUR 8.2 million (27%) compared with a corresponding period of the previous year. In Q2 considerable increases in sales revenues were generated by the POS & ATM related services business lines which generated sales revenues up EUR 3 million and up EUR 2.8 million respectively compared with a corresponding period of the previous year.
E-commerce also grew in Q2 (up EUR 2 million). Operating profit of Payment solutions in Q2 2022 amounted to EUR 6 million, up EUR 1.0 million (19%), compared with Q2 2021. Consolidated EBITDA in Q2 2022 amounted to EUR 9.3 million, up EUR 1.2 million (15%) compared with a corresponding period of the last year.
Sales revenues of Banking solutions reached over EUR 13.7 million in Q2 2022, up EUR 1.7 million (14%) compared with a corresponding period of the previous year. Bigger sales revenues were generated by core banking and omnichannel solutions. Operating profit and EBITDA were up EUR 0.3 million in Q2 2022 and amounted to EUR 3.0 million and EUR 3.6 million respectively.
Sales revenues of Dedicated solutions in Q2 2022 amounted to EUR 22.6 million, up EUR 4.5 million (25%) compared with a corresponding period of the previous year. This increase resulted partially from the consolidation of the results of the companies bought in 2021 and operating in traffic management and BPM solutions sectors. Operating profit in Q2 2022 amounted to EUR 2.3 million, up EUR 0.6 million (35%) compared with a corresponding period of the last year whereas EBITDA of Dedicated solutions amounted to EUR 2.9 million, up almost EUR 0.8 million (38%) compared with Q2 2021.
Half-year 2022 financial results
Financial results of ASEE Group in the first half of 2022 were also better compared with the first six months of the previous year. Sales revenues amounted to EUR 141.7 million, up 22.6% (EUR 26.1 million) compared with a corresponding period of the previous year. Operating profit reached EUR 21.3 million, up 19.8%, whereas EBITDA totaled EUR 30.5 million, up 17%. Consolidated net profit after first six months of 2022 amounted to EUR 18.6 million, up 25.7% compared with first six months of 2021.The company announced backlog value for 2022 in Margin 1 amounting to EUR 193.5 million, up 23% compared with the last year.
ASEE Group is one of the biggest IT companies in the area of production and implementation of its own software solutions and services in the region of South Eastern Europe, Turkey, Spain, Portugal, Andorra, Colombia, Peru, Dominican Republic, Slovakia and Czech Republic. The Company provides ICT solutions for various industry verticals including the financial sector, payment sector, public administration and telecoms. The company provides products and services within Payment business under Payten name. Since October 2009, the shares of Asseco South Eastern Europe (WSE: ASEECOSEE, ASE) have been listed on the Warsaw Stock Exchange. ASEE Group employs almost 3,500 people in 23 countries. More than 10 banks out of the 15 largest ones in southeastern Europe are already clients of ASEE.