Press Office

Asseco Poland and Warta Group entered into an agreement for the development of the Integrated Information System (IIS) by Asseco Poland. IIS will be the main product management system after the merger of WARTA and HDI Asekuracja.The agreement concluded between Warta Group and Asseco Poland provides for comprehensive development of the Integrated Information System.“We want to prepare our IT system to serve a larger number of customers, agents and insurance policies, because it will be used by a much larger organization, following the merger of Warta and HDI Asekuracja,” says Hubert Mordka, Vice President of Warta and HDI Asekuracja, responsible for IT.The merger will be conducted because in July 2012 Warta became a member of the German Talanx Group, which is the owner of HDI Asekuracja. After the take-over of Warta, one of the first decisions was to retain both the brands and distribution networks of Warta and HDI Asekuracja to sell retail insurances products, although the companies will be merged under the common name of Warta.“Nevertheless, all our customers will receive the same high standard of service as our internal procedures will be standardized based on the Integrated Information System developed by Asseco. We deemed such a scenario to be the most suitable for completion of the operational integration of the merged companies within 24 months,” explains Hubert Mordka. He added that expansion of their business operations, as well as development of new customer service channels, are causing the need for continuous development of the system, and in particular its ability to be easily integrated with other applications. Therefore, Warta estimates that, in the period from 2013 to 2014, nearly 200 modifications will be implemented in order to upgrade their IT system.“We are ready to provide the highest level of technological support to this dynamically growing organization. We can guarantee development of a scalable solution, able to support the ambitious plans of Warta Group companies to increase their market shares. Our specialists have got plenty of experience in the insurance market and our track record shows we are capable of responding to the market needs and changes, quickly and effectively.” said Włodzimierz Serwiński, Vice President of Asseco Poland S.A., responsible for the Commercial Insurance Division.Asseco Group is one of the leaders in the global market of IT solutions for the insurance industry. The Group’s product portfolio features comprehensive IT systems to support the property and life insurance operations, as well as solutions related to the implementation of Solvency II requirements. One of the Group’s flagship products is IDIT system, which has been implemented in the largest insurance institutions worldwide. In Poland, Asseco’s insurance clients include PZU Group, Warta Group, HDI Asekuracja, Generali, ING Group, and the Insurance Guarantee Fund.

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.

The latest Truffle100 ranking presenting Europe’s top 100 information technology companies, providing proprietary software and related services, was published on 6 November 2012. Asseco Poland ranked seventh, having generated EUR 866.2 million in software revenues.Asseco Poland has, for the fourth consecutive time, ranked in the top 10 among the largest European companies included in the ranking. Year by year, the company manages to increase its sales of proprietary software, which is one of the key objectives of its development strategy. Such a consistent growth in revenues from software solutions is achieved by maintaining long-term relationships with Asseco’s clients as well as by implementation of a huge number of projects, virtually for each sector of the economy. During the first nine months of this year, Asseco signed over 1700 new contracts, significantly strengthening its position among major players in the European software industry.In the commentary prepared especially for this year's edition of Truffle100, Adam Góral, President of the Management Board of Asseco Poland, said:“The Polish market of IT solutions for the financial sector has become mature. However, we still have great prospects for the informatization of enterprises and public administration. The Polish Government is aware of the need to integrate distributed information systems at various public institutions. Development outlook in this sector is still related to e-Government projects. There are also plenty of opportunities open for local governments, as the EU funds will support the development of IT systems dedicated to this level of administration. (…) Whereas, the enterprises sector requires IT companies to provide both management information solutions and customer service support systems.”The Truffle100 ranking is prepared under the auspices of the European Commission and it discusses the market of Europe's major software producers. Just as in the previous year, the group of leaders is headed by Germany's SAP with nearly EUR 14 billion in software revenues, followed by France's Dassault Systèmes (EUR 1.8 billion) and Britain's Sage (EUR 1.5 billion). The ranking is dominated by companies from the UK, France and Germany. There are only two Polish companies among the hundred largest software players in Europe, namely Asseco Poland at 7th place and Comarch at 50th place.Combined software revenues generated in 2011 by all the firms included in the listing reached EUR 52.9 billion, outperforming the 2010 sales by more than EUR 22 billion. Whereas, 76 percent of such total turnover was generated by 25 largest players.The detailed Truffle100 report is available at:
http://www.truffle100.com/2012/ranking.php

On 3 October 2012, Adam Góral, President of Asseco Poland, was granted the title of Honorary Citizen of the city of Rzeszów. This distinction is an expression of gratitude for his significant contribution to the development of local economy. Until now, the title of Honorary Citizen of Rzeszów has been awarded to 51 people. Marek Darecki, President of WSK PZL Rzeszów, was another person honoured along with Adam Góral.
“These are people who, through their activities and achievements, bring honour to our city and a sense of justified pride to our residents. The title has been granted in recognition of their great accomplishments,” wrote the councillors of Rzeszów to support their choice.
Adam Góral is a co-founder of Asseco Poland – the largest IT company in Poland and the number seven software vendor in Europe. Today, Asseco employs more than 15 thousand people worldwide, of which 4.5 thousand work in Poland. Despite a truly international nature of the Group’s operations, its headquarters are still located in Rzeszów, being the place of work for over 500 people. For many years, Adam Góral has been actively involved in the promotion of Rzeszów and the entire region of Podkarpacie. He is a co-founder of the Podkarpacie Business Club and the Podkarpacie Association, both aiming to accelerate economic development of the region. For nearly 10 years, Adam Góral has made efforts to restore the volleyball tradition in the city of Rzeszów. Acting as the club’s title sponsor, he strives to provide the team with the best possible conditions for training and achievement of sporting success. This year Asseco Resovia won the title of the Champions of Poland. Adam Góral is also a pioneer in the field of privately-run higher education. In 1996, he created the Rzeszów School of Business, where he served as vice rector and lecturer.

Asseco Poland decided to reduce the minimum threshold required to successfully conduct the issuance of swap shares for shareholders of Asseco Central Europe from 96% to 80%. The threshold has been lowered in order to increase the probability of carrying out this transaction and thereby achieve one of our strategic objectives, which is to simplify the organizational structure of the Asseco Group. The decision is going to be approved by the General Meeting of Shareholders of Asseco Poland on 23 October 2012.
Because Asseco Poland desires to successfully complete the swap transaction, its Management Board decided to lower the required minimum shareholding threshold from 96% to 80%. Having acquired an 80% voting interest in Asseco Central Europe, Asseco Poland will still obtain full control over the company. Despite the shareholding threshold has been reduced from 96% to 80%, Asseco Poland considers that shareholders of Asseco Central Europe will be highly interested in exchanging their shares for more liquidly-traded shares of Asseco Poland.
"We believe that at least 95% of shareholders of Asseco Central Europe are going to subscribe for Asseco Poland shares. We maintain our intention to ultimately withdraw the shares of Asseco Central Europe from public trading on the Warsaw Stock Exchange," says Adam Góral, President of the Management Board of Asseco Poland.The issuance of shares will be conducted excluding pre-emptive rights of the existing shareholders of Asseco Poland. The Company is going to issue not less than 4,060,953 and not more than 6,095,238 ordinary bearer shares with a par value of PLN 1 (one zloty) each. The exchange ratio has been set at 2.1 shares of Asseco Central Europe for 1 share of Asseco Poland.

On 17 September 2012, the Management Board of Asseco Poland S.A. signed a letter of intent for the acquisition of shares in Centrum Informatyki ZETO S.A. in Białystok.The letter of intent has been signed between Asseco and ZETO Białystok to determine the terms and conditions for purchasing shares representing 99.88% of the share capital of ZETO and the same voting interest at its General Meeting of Shareholders. The transaction value will reach approx. PLN 37 million.Centrum Informatyki ZETO S.A. in Białystok is one of the largest IT companies in the Polish province of Podlasie. The company provides comprehensive IT services to companies, institutions, as well as to individual customers. It employs 210 persons. In 2011, ZETO Białystok generated PLN 71 million in sales revenues, earning PLN 4 million in net profit.Business operations of ZETO Białystok fit well the implementation of the Asseco Group's strategy for building a firm with a country-wide coverage, but focusing on local markets to provide data processing services, outsourcing and comprehensive IT services for hardware and network infrastructure, security systems, teletechnical installations, and structured cabling. Such company shall act as a vendor, distributor as well as an integrator of information technology solutions.The planned transaction will be the basis for creation of a new holding company of Asseco that will bring together leading integration companies operating in various regions of the domestic market. Shares in ZETO Białystok shall be acquired by Asseco Poland or its wholly-owned subsidiary Asseco Systems S.A., to which Asseco Poland is also going to transfer, by making a non-cash contribution, all the shares it has earlier acquired in Centrum Komputerowe ZETO S.A. seated in Łodź.