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PLN 2.9 bilion in sales revenues for the first half 2014. Asseco Group builds a solid foundation for further development

Asseco Group generated PLN 2.9 billion in sales revenues in the first two quarters of 2014, achieving a 7% growth as compared with the first half of 2013. Net profit attributable to shareholders of the parent company improved as well and reached PLN 183 million. Revenues from proprietary software and services increased by 5% percent to the level of PLN 2.3 billion. Operating profit amounted to PLN 295 million.

On 27 August 2014, Asseco Group published its financial results for the first half of 2014. Its sales revenues reached PLN 2.9 billion, growing by 7% as compared with the corresponding period of 2013. Foreign market operations accounted for 72% of total sales, while the remaining 28% came from the domestic market. The Group’s revenues are well diversified among our individual target sectors: General Business – 40%, Banking and Finance – 35%, and Public Administration – 25%. Asseco is firmly committed to its development strategy based on the sale of proprietary software solutions, which in the analyzed period generated PLN 2.3 billion or 81% of our total revenues, reflecting a 5% improvement year on year. In the first half of the year, the Group generated more than PLN 103 million in net cash flows.


Asseco carries on working with its major clients and actively gets involved in new projects. During the past 6 months, the Group signed 2,397 contracts and agreements. In August 2014, our order backlog amounted to PLN 5.2 billion and was 3% higher than in August 2013.


“The first two quarters of 2014 were a period of intense work in the entire Asseco Group. In many markets we could observe downward pressures on prices in the sector of IT services, as well as economic and political turmoil, which weighed on the condition of enterprises. Despite such unfavourable circumstances, our goal was and still is to develop the Group, as well as to prepare for even faster growth in the future. Looking at our semi-annual results, I can say that this objective has been achieved,” commented Adam Góral, President of Asseco Poland. “In the first half of the year we concluded a number of significant new contracts, which will lay a solid foundation for further development of our Group in the near future” - he added.


Asseco continues to invest money in research and development of its key products. In the last half-year, Asseco Poland completed the development of the Universal Front End system which is dedicated for the banking sector. Furthermore, the flagship solution of our Energy Industry Division – Asseco Utility Management System (AUMS) – will be implemented for new clients operating within the energy and telecommunications sectors. AUMS has been also recognized by Gartner and was the only Polish system included in their prestigious “Magic Quadrant” report.


Asseco Group has strengthened its presence in the eastern market, including Russia where we entered a year ago, and Kazakhstan where we just launched our operations. In the first half of 2014, we recorded the fastest growth in the Israeli market. Our revenues from that region reached PLN 1.4 billion and were up by 10% as compared with the corresponding period of 2013.


The development strategy of Asseco aims at further international expansion, while leveraging on synergies among individual companies of our Group. We are greatly interested in emerging markets, among others in Asia and Africa. At the same time, the Group continues to focus on its core business – where we have a cutting-edge advantage – this is on the production of state-of-the-art IT solutions for all major sectors of the economy.

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