Nearly PLN 300 milion in net profit for the first nine months of 2012. Finantial Results of Asseco Group
Sales revenues reached nearly PLN 4 billion, growing 13 percent as compared with the corresponding period of 2011.
On 14 November 2012, Asseco Group reported its financial results for the first nine months of 2012. Sales revenues reached nearly PLN 4 billion, growing 13 percent as compared with the corresponding period of 2011. Whereas, revenues from sales of proprietary software and services surged by 20 percent to reach PLN 3.1 billion. The Group's operating profit equalled PLN 495 million, while net earnings amounted to PLN 278 million.
In the first three quarters of 2012, operating profit adjusted for one-off items reached PLN 553 million, improving 7 percent year on year. Whereas, net profit adjusted for one-offs amounted to PLN 294 million and increased 8 percent as compared with the first nine months of 2011. Our sales of proprietary software solutions continued a growing tendency, accounting for as much as 77 percent of the Group’s total revenues. This was achieved owing to our proven business model, whereby our portfolio of proprietary software and related services is diversified into: dedicated solutions – designed to individual client needs, comprehensive solutions for various sectors – offered to large and medium-sized companies, standard software packages – offered to small and medium-sized businesses, and cloud computing solutions – offered to all interested customers over the Internet.
In the period analyzed, our foreign operations generated 72 percent of the Group's total revenues. However, the highest margins of profit were still achieved in the Polish market, where the Group earned 50 percent of its operating profit. The largest revenue growth was reported by our companies operating in the Israeli market (a 39 percent increase as compared to the first nine months of 2011) and in the Slovak market (an 11 percent increase).
During the first nine months of 2012, Asseco Group signed more than 1700 new contracts, significantly reinforcing its position among major players in the European software industry. Asseco's strong position on the Old Continent has been confirmed by the latest edition of the Truffle100 ranking, published on 6 November 2012, which presents the top 100 European providers of software and related services. Asseco Poland ranked seventh, having generated EUR 866.2 million in software revenues.