Press Office

Asseco once again took 2nd place in the "Polish Ambassadors" ranking prepared by the editors of the Wprost weekly. Asseco's foreign sales last year amounted to more than PLN 15.3 billion and accounted for 90 percent of the company's total revenues.

In 2022 alone, our Group was joined by 16 companies operating in the European, Israeli and American markets. Since our IPO on the Warsaw Stock Exchange (WSE) in 2004, the number of our acquisitions has already reached nearly 130. This brings the Asseco Group today to nearly 33,000 employees in 60 countries on 6 continents, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key economic sectors. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Wprost weekly published the 4th edition of the ranking of the best employers. The editors surveyed more than half a thousand of the largest companies operating in Poland and selected 50 with best-rated working environment. Asseco is the leader among IT companies.

We place great importance on building a comfortable and engaging work environment. We make sure that our employees are properly motivated every day and have a sense of influence on the development of projects and the entire organization. Asseco implements ambitious projects for the largest clients in Poland, from various sectors of the economy, which makes our employees’ work  rewarding and allows them to develop in many areas - said Gabriela Żukowicz, Vice President of the Management Board of Asseco Poland.

Asseco is a leader in digitization in Poland* and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries around the world and employs nearly 32,000 people. It has been growing organically as well as through acquisitions, of which it has made more than 120 since 2004. Asseco's companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to the Computerworld TOP200 report for 2022.

In the first quarter of 2023, Asseco generated revenues of PLN 4.3 billion (EUR 922 million), which marks an increase of 7% versus the corresponding period in 2022. The sale of proprietary products and IT services went up, compared to the first three months of the previous year, by 8% and amounted to PLN 3.4 billion (EUR 728 million). Operating profit rose 3% to PLN 398 million (EUR 85 million), and net profit attributable to shareholders of the parent company was at a comparable year-on-year level at PLN 108 million (EUR 23 million).

In Q1 2023, the Asseco Group generated PLN 494 million (EUR 105 million) in non-IFRS* operating profit, up 3% year-on-year. In turn, non-IFRS net profit attributable to Asseco Poland's shareholders was at a similar level to the previous year, amounting to PLN 120 million (EUR 26 million). For the Asseco Group, the non-IFRS figures provide important information on its financial position, as well as for assessing the development of its business.

Consistent business diversification

Asseco's revenues remain very well diversified by sectors. In Q1 2023, they were distributed as follows: general business - 44%, banking and finance - 33% and public institutions - 23%. The Group recorded sales increases in each of these areas. The public institutions sector grew the strongest, by 10%, while banking and finance by 7%, and the general business sector by 5%.

During the reporting period, Asseco expanded its operations both in Poland and abroad. Sales revenues in the Asseco Poland segment increased by 12% and amounted to PLN 457 million (EUR 97 million). Foreign markets represented by the Formula Systems and Asseco International segments accounted for 90% of the Asseco Group's total revenues in Q1 2023. The revenues of the Asseco International segment were 5% higher than in the corresponding period a year ago, amounting to PLN 988 million (EUR 210 million). The Formula Systems segment, in turn, recorded PLN 2.9 billion (EUR 618 million) in revenues, which marks an increase of 7% versus Q1 2022.

Security and financial stability

Asseco's consolidated order backlog for 2023 in variable FX rates, in the area of proprietary software and services, is now worth PLN 11.2 billion (EUR 2.4 billion). In turn, in fixed FX rates, it totals PLN 11.7 billion (EUR 2.5 billion) and is 4% higher than in the same period last year.

"Strong business diversification at the level of products, sectors and geographic markets, as well as long-term customer relationships and a high proportion of recurring revenues provide the Asseco Group with security and financial stability in the volatile business environment in which we currently operate. Taking into account only organic growth, sales growth in fixed exchange rates reached 8% in the first quarter of 2023, which is a similar level to the one recorded during the first three months of 2022. We observed continued sales growth in all segments. Revenue growth was highest in the Asseco Poland segment. We achieved very good sales performance in Poland in the banking and finance, healthcare, energy and telecommunications sectors. We also recorded double-digit sales growth in Asseco Data Systems and Asseco Cloud. The Formula Systems Group continued strengthening its position in Israel, North America and Europe. The first three months of 2023 were also very good for the Asseco Enterprise Solutions Group, from the Asseco International segment, which intensively developed sales of ERP solutions, and the Asseco South Eastern Europe Group, which increased its scale of operations in all business segments" - said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

* Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized in purchase price allocation (PPA), the costs of share-based payment transactions with employees (SBP), the revenues and costs related to company acquisitions/sales and one-off events (and related tax effects).

Asseco, with revenues of PLN 17.4 billion, is the highest ranked IT company in the "List of 500". The ranking, prepared by the editors of the Rzeczpospolita daily, is a list of the largest companies in Poland. It takes into account sales revenues and the size of employment.

The Asseco team consists of nearly 33,000 people, whose commitment translates into very good results for the company. Sales of Asseco's proprietary products and IT services increased by 19% versus the previous year and exceeded PLN 13.4 billion. In turn, operating profit, having increased by 25%, amounted to PLN 1.8 billion, and net profit attributable to shareholders of the parent company was 8% higher, reaching PLN 503 million.

Despite uncertain times, we continue to consistently pursue our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us both in terms of sales and net profit attributable to Asseco Poland shareholders, said Adam Góral, President of Asseco Poland. The international nature of our organization and its federative structure, which leaves a lot of autonomy and freedom of action to individual companies, allow us to compete effectively in foreign markets, while maintaining the local and flexible approach so necessary for our customers. In 2022 alone, 16 companies operating in the European, Israeli and American markets joined our Group, he added.

The "Help Ukraine" initiative and the charitable campaign of Asseco's employees "We help" were recognized in the "Responsible Business in Poland 2022: Best Practices" report. The company's activities were once again included in the list, which is the largest overview of ESG, CSR and sustainable development in Poland.

Following the outbreak of the war in Ukraine, Asseco took a number of measures to support those who arrived in our country. The company provided housing for nearly 170 families with children for the first month of their stay, and supported them as needed in housing, formal and legal matters, as well as medical issues and children's education. It also provided them with material and financial support. In addition, Asseco organized a Santa Claus meeting for 40 Ukrainian children learning in Rzeszów schools. The company also donated funds to selected foundations and supported them in their activities. In addition, it supported its employees (materially and financially), who independently undertook aid activities, such as at the border. In total, in 2022, Asseco allocated more than PLN 1.7 million to help people from Ukraine.

Last year, the company once again organized a charitable campaign by Asseco employees called "We Help." Its purpose is to help those most in need and to motivate employees to get involved. They decide to whom and in what form they will provide support within the budget specially allocated for this purpose. They nominate selected organizations for financial support, such as orphanages or single mother's homes, hospices or foundations supporting poor families. An important criterion in evaluating applications is that in addition to nominating and justifying the selection of a particular organization, employees should come up with ideas for additional forms of assistance that they themselves can donate. Everything counts - commitment, dedication of their free time, sharing their knowledge or skills with someone. Also important is their past cooperation with the selected organization. Very highly rated are the ideas that engage work colleagues.

In this year's edition of the "We Help" campaign, Asseco helped 17 organizations. In turn, since the beginning of this project, it has allocated PLN 1.74 million to help those in need, thanks to which, among other things, 5,000 children have received support. So far, 2,000 employees have been involved in the "We help" campaign.

The Responsible Business Forum, the largest and longest-established organization dealing with CSR and ESG in a comprehensive manner, publishes the "Responsible Business in Poland. Good Practices" report annually. The main part of the publication is a summary of CSR and sustainable development activities carried out by companies in the previous year.

According to a study by EY and the Institute of International Finance (IFM), cyber security is the most important risk that banks must manage today. This type of threat even overtakes credit risk. It's no surprise, then, that banks are eager to implement systems guaranteeing the security of online transactions.

The Cooperative Bank in Wschowa is a modern and secure organization with only Polish capital, operating on the market for more than 75 years. It is one of the digitization leaders and has received a number of awards in Poland and abroad for the innovative technological solutions it has implemented. The bank's latest IT project is aimed at increasing the security of transactions carried out by customers using online and mobile banking services.

Cyberattacks on banks increasingly sophisticated

Last year, the Financial Supervisory Commission (KNF) made an announcement, reminding financial institutions of the risks associated with cyberattacks. According to the KNF's data, there were up to 500% more such attacks between 2021 and 2022. The methods used by cybercriminals have become increasingly sophisticated, so fighting them effectively requires both the support of technology and continued awareness of users about the threats present in the digital space.

“We have decided to implement Asseco FDS to reduce the number of fraudulent transactions and the losses that come with them. Cyber criminals often target organizations in the financial industry and their customers. Sophisticated cybercriminal methods are able to change the phone number or email address from which fraudsters make contact. When they call, the victim's phone may display a different, known number or a bank name. Therefore, in addition to securing our bank from the technological side, we also conduct numerous educational campaigns. With the help of available media and organized meetings, we warn against increased social engineering attacks, such as vishing and spoofing” - explains Michał Przyjemski, Vice President of the Management Board of the Cooperative Bank in Wschowa.

Real-time monitoring of transactions

Asseco FDS (Fraud Detection System) is a solution for banks to help them fight cybercriminals and secure their customers' money. The system monitors concluded transactions in real time. It correlates data about the user, coming from different sources, which allows to get a complete picture of the user and identify their typical behavior. The bank's analyst receives a notification when the system detects a suspicious transaction, such as one made at an unusual time, or from a different location than the one corresponding to the user's whereabouts.

Asseco FDS provides bank employees with a set of information necessary in the process of verifying suspicious transactions, both those selected automatically and those reported by customers. This gives the bank the ability to analyze a given case from the perspective of a crime, and, if necessary, to take additional verification actions. Preventive actions taken by the system in real time can include stopping suspicious transactions. Quick detection and prevention of fraud contributes to maintaining customer confidence and the reputation of the financial institution.

Rapid response to new forms of abuse

“We are aware that cybercriminals constantly change the way they operate. That's why Asseco FDS is equipped with a rule editor that makes it possible to easily add a new or modify an existing detection rule as needed. This allows us to react quickly whenever the perpetrators’ new way of operation emerges and to search the system's repository for similar incidents” - says Paweł Kusza, Project Manager, Cooperative Banks Division, Asseco Poland.

For more information about Asseco FDS, click this link.