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Asseco Group revenues grow dynamically in the first three quarters of 2016

Asseco Group generated PLN 5.7bn in revenues in the first three quarters of 2016 – that’s 12% more than in the same period in 2015. The net profit attributable to parent company shareholders amounted to PLN 225m after nine months. Revenues from sales of software and proprietary services increased by 9%, reaching PLN 4.6bn. Group operating profit rose to a rekord-high PLN 566m and was 6% higher compared to last year.

Asseco Group published its financial results for the first three quarters of 2016 on 17 November. Group revenues stood at PLN 5.7bn, which is PLN 613m more (up by 12%) than in the same period in 2015. This is mainly due to significantly larger sales on foreign markets, which are becoming increasingly important for the Group results - 79% of its revenues in recent quarters have been generated outside Poland. Israeli companies reported a particularly high growth in revenues – they improved their results by 18% year over year and reported PLN 3.2bn in revenues in the first three quarters of 2015.

 

Company results are characterized by very good revenue diversification, both in regional as well as sectoral terms; 39% is atributed to the financial sector, 40% - to the corporate sector, and 21% - to the public administration sector. Selling its proprietary solutions remains Asseco’s business and development strategy foundation. It generated more than PLN 4.6bn in the recenet period – thisrepresents 81% of total revenues.

 

Adam Góral, President of the Board of Asseco Poland: We are pleased with Asseco Group financial results for the first three quarters of 2016. The Group reported, among others, record-high revenues – over PLN 5.6bn. Our international operations are constantly developing, and a highly diversified business sector provides us with great stabilization. First three quarters of 2016 also saw us focus on further reorganization of the Group's structure in Poland and abroad, in order to operate more effeciently and dynamically.

 

Further reorganization of the Asseco Group’s structure in national and international markets marked the third quarter of 2016. As of 1 July 2016 there are four companies within the Group framework – Asseco Poland, Asseco Business Solutions, Asseco Data Systems and DahliaMatic. Past months have seen intense work on their integration at the operational level, and an even better adaptation to market requirements. Tender offer for the shares of Asseco Central Europe was also an important event. Acquisition of 100 per cent of shares in ACE will enable the plan of delisting the company to go forward. This, in turn, will facilitate decision making regarding further development of ACE, and reduce costs associated with disclosure requirements relating to public companies.


Furthermore, Modulus joined the Asseco Group. It is a Polish startup specializing in advanced cloud solutions and services for UI/ UX design. This represents Asseco’s first investment of this type in Poland and forms part of the company strategy of developing proprietary innovative IT products and advanced IT services.

 

Asseco continues to work with its key clients and is actively pursuing new projects. Order book stood at PLN 7.5bn in November 2016, which represented an 11% increase compared to last year.

 

 


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