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PLN 5 billion in sales revenues - strong financial results of Asseco Group 3Q2015

In the first three quarters of 2015, Asseco Group generated PLN 5 billion in sales revenues or 15% more than in the comparable period of 2014. Net profit attributable to shareholders of the parent company amounted to PLN 240 million.

Revenues from proprietary software and services increased by 17% and reached PLN 4.2 billion. The Group’s operating profit increased to PLN 534 million, improving by 16% in comparison with the last year. On 14 November 2014, Asseco Group published its financial results for the first nine months of 2015. The Group’s sales revenues reached PLN 5 billion, growing by PLN 661 million or 15% as compared with the corresponding period of 2014. Such a favourable result was achieved primarily on the back of higher sales in foreign markets, whose share in our consolidated revenues continues to increase.  Foreign operations accounted for 77% of the Group’s total revenues. Particularly strong growth was achieved by our Israeli companies, which generated more than PLN 2.6 billion in sales revenues in the first three quarters of 2015, recording a 26% improvement year on year.

“We are satisfied with the financial results generated by Asseco Group in the first nine months of 2015. In comparison with the last year, our sales revenues improved by PLN 661 million, achieving a record-high level of PLN 5 billion. I am also very pleased with the dynamic growth of our foreign market operations,” said Adam Góral, President of Asseco Poland, and added: “Our foreign companies provide an increasingly higher contribution to the Group’s consolidated results. Today, approximately 3/4 of sales revenues and 2/3 of profits of Asseco are generated by our investments located outside of Poland. During the first  three quarters of 2015, we focused not only on continuing the development of our business, but also on reorganizing the Group’s structure in order to make it more effective. I am convinced that the positive effects of these initiatives will be seen pretty soon.”

The Group’s revenues are well diversified in terms of geographical markets, but also among our individual target sectors, including General Business – 41%, Banking and Finance – 38%, and Public Administration – 21%. Furthermore, Asseco is committed to pursuing its development strategy based on the sale of  proprietary software solutions, which in the analyzed period generated over PLN 4.1 billion or 82% of our total revenues. The third quarter of this year was marked by further reorganization of the Group. Insseco, which serves commercial insurers in Poland, has been merged with Sapiens, our subsidiary that is a leading global provider of software solutions for the insurance industry. This has provided our Polish team with brand new opportunities for development, also at the international level. Moreover, we acquired Exictos, a Portuguese IT company operating primarily in the emerging markets of Africa, which is in line with  

Asseco’s strategy for geographical expansion. Owing to this transaction, we have broadened our customer base in the banking sector. Exictos will also lay foundation for Asseco’s future development in Portuguese-speaking countries. Whereas in Poland, we started the consolidation of our six local subsidiaries in order to establish Asseco Data Systems, which is set to commence its business operations in the first quarter of 2016. The products and services of ADS will be dedicated to small and medium-sized enterprises as well as to public administration bodies, including mainly local governments. We have also initiated the acquisition of shares in Infovide-Matrix (finalized in November 2015), which will help reinforce the Group’s position both in the Polish and European markets by providing new competence in the area of IT services.

In the third quarter of 2015, Asseco Poland has successfully completed the project of centralization of billing systems at Tauron Group, which is one of the largest and most rapidly implemented solutions of this kind across Europe. We have also strengthened our position in the market of software solutions for agriculture, among others, by signing a new contract with the Agricultural Social Insurance Fund (KRUS) to provide comprehensive support for their IT system that helps manage retirement and pension benefits for 1.3 million farmers. The project gross value exceeds PLN 92 million. Asseco was also successful in gaining new contracts in the healthcare sector. The company is going to carry out, among others, the e-Health project for Mazovia, including the construction of an information and communications network connecting 23 hospitals in the Mazovian Province. In the third quarter, the company conducted the first implementation of its brand new internet and mobile banking product (Asseco Customer Banking Platform) at Deutsche Bank Poland. Asseco carries on working with its major clients and gets actively involved in numerous new projects. During the past nine months, the Group signed more than 6,000 new contracts and agreements. In November 2015, our order backlog exceeded PLN 6.8 billion and was 18% higher than a year ago.