Press Office

In the first three quarters of 2023, revenues of the Asseco Group exceeded PLN 12.6 billion (EUR 2.8 billion). Proprietary software and services accounted for 79% of this amount – nearly PLN 10 billion (EUR 2.2 billion). In turn, operating profit reached PLN 1.2 billion (EUR 255 million), and net profit attributable to shareholders of the parent company stood at PLN 344 million (EUR 75 million), out of which the Asseco Poland segment was responsible for 47%, the Asseco International segment for 39% and the Formula Systems segment for 14%.

For the assessment of the financial situation and development of the Asseco Group's business activities, the basic figures published on a non-IFRS* basis are important information. During the first nine months of 2023, the Asseco Group generated PLN 1.5 billion (EUR 317 million) in non-IFRS operating profit, putting the result at a similar level to the corresponding period last year. In turn, non-IFRS net profit attributable to Asseco shareholders amounted to PLN 384 million (EUR 84 million).

Strong diversification increases business resilience

Asseco's revenues remain very well diversified geographically and by sectors. Geographically, foreign markets, represented by the Asseco International and Formula Systems segments, accounted for 89% and Poland for 11% of the Group’s revenues. By sectors, sales were distributed as follows: general business – 42%, finance and banking – 34%, and public institutions – 24%.

Revenues in the Asseco Poland segment increased by 12% during the reporting period and exceeded PLN 1.4 billion (EUR 309 million). The parent company recorded double-digit growth in the areas of finance and banking, healthcare, energy and telecommunications. Asseco Data Systems and Asseco Cloud, which operate on the Polish market, achieved very good sales results. The Formula Systems segment reported revenues of PLN 8.3 billion (EUR 1.8 billion) which were significantly affected by changes in currency exchange rates. Organic revenue growth in fixed exchange rates was 7%. In turn, the Asseco International segment generated revenues of PLN 2.9 billion (EUR 631 million). During the period in question, dynamic increases in ERP sales were recorded in Poland, the Czech Republic, Germany and Austria. Operating in the Southeastern Europe region, the Asseco South Eastern Europe Group generated double-digit revenue increases in the banking and dedicated solutions segments.

“Strong sector, product and geographic diversification allows us to operate effectively in a volatile market environment. The Asseco Group's financial performance in the first three quarters of 2023 was significantly affected by changes in foreign exchange rates. Organically, the business grew steadily - Asseco's revenue growth in fixed exchange rates was 6%. When we compare operating profit on a non-IFRS basis, net of one-off events, with the corresponding period last year, it is very similar” - said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

Asseco's consolidated order backlog for 2023 in variable rates, in the area of proprietary software and services, is currently worth PLN 12.5 billion (EUR 2.8 billion). Meanwhile, in fixed exchange rates, it amounts to PLN 13.6 billion (EUR 2.9 billion), 5% higher than in the corresponding period in the previous year.

Successful share buyback

In the third quarter of 2023, Asseco Poland conducted a successful buyback of its shares, with a total value of PLN 1.2 billion (EUR 257 million). A total of 14.8 million shares were acquired. Its goal is to ultimately increase the liquidity of Asseco's shares listed on the Warsaw Stock Exchange (WSE).

* The 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 (M&A) and one-off events (and related tax effects).

Asseco is the only Polish company included in the "Software and Telecommunications" category of the "World's Most Trustworthy Companies 2023" ranking. The list was prepared by Newsweek magazine in cooperation with the global research firm Statista.

The aim of the survey was to identify the world's most trustworthy companies. The survey, prepared by Newsweek and Statista, attracted 70,000 participants.  The ranking included 1,000 companies from 21 countries and 23 industries. Asseco, which is the leader of digitization in Poland and the largest software producer in Central and Eastern Europe, was ranked 37th in the "Software and Telecommunications" category and is the only Polish company on the list.

Asseco maintained its 4th position in the "Software Producers" category in the "Top Brand 2023" ranking prepared by the editors of Press magazine and PSMM Monitoring & More. At the same time, it is the highest ranked Polish IT company in this category.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. We develop software for state institutions and companies in key sectors of the economy. We operate in an industry where innovation and security play a key role. For more than 30 years, our team has been providing technologically advanced solutions while maintaining the highest standards of cyber security, thanks to which we have managed to build a brand that is not only one of the most recognizable among Polish IT companies, but most importantly enjoys the great trust of our customers, said Artur Wiza, Vice President of Asseco Poland.

The "Top Brand" ranking has been published for 16 years and covers 500 brands from 50 industries. This is the largest study of its kind on the Polish market. "Press" and PSMM Monitoring & More analyze brands, selecting from among them the most popular corporate, product and pro bono brands in the media. As a result of this study, industry quantitative and qualitative rankings are created, showing, among other things, the image of individual brands in press publications, online and social media.

After moving up two positions, Asseco was ranked 13th in the "100 Largest Polish Private Companies" list prepared by the editors of Forbes magazine in cooperation with Haitong Bank. The company earned more than PLN 1.8 billion in consolidated operating profit last year, becoming the record holder among all Polish private companies.

As the authors of the ranking pointed out, the key to the company's success is its consistent acquisition policy. Since 2004, Asseco has made more than 130 acquisitions. The Group’s companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange. In 2022, foreign markets together accounted for 90 percent of the revenues of the Asseco Group, which is present in more than 60 countries around the world and employs nearly 33,000 people.

Launch of the Regional Repository of Electronic Medical Records implemented by Asseco and AGFA HealthCare

Asseco, AGFA HealthCare and the Kujawsko-Pomorskie Center for Digital Competence have implemented the Regional Repository of Electronic Medical Records in the Kujawsko-Pomorskie voivodeship. The scope of the project included the digital connection of 15 hospitals, where doctors issue more than one million medical documents and perform 400,000 imaging examinations annually. Thanks to the introduced solutions such as e-Registration and the Patient Portal, patients gained quick access to their results, and the facilities have now comprehensive tools for managing the unit and offering e-Services.

Electronic medical records are becoming one of the key elements in the digitization of Polish health care. The collection, processing, storage and sharing of e-documentation translates into an increase in the level of patient service and significantly improves the work of personnel. The Regional Repository of Electronic Medical Records is a project that enables the implementation of the above functionalities at the regional and local levels. Its scope includes health care units for which the leading body is the Local Government of the Kujawsko-Pomorskie voivodeship and University Hospitals.

Digitalization in support of health

Asseco Poland, in cooperation with AGFA HealthCare, has built and implemented the EDM (Electronic Medical Records) system that allows the transfer and sharing of e-documentation of medical records and DICOM imaging studies. The system also offers a wide range of electronic services common to hospitals, such as e-Registration, emergency data, e-Patient Logbook and Patient Portal. In addition, it provides the ability for doctors from different units in the region to conduct e-Consultations, and meets statutory requirements for EDM.

„Today, a supportive IT partner can significantly empower healthcare entities to achieve increasingly ambitious digital service delivery goals. The Regional Repository of Electronic Medical Records project has connected 15 hospitals through the Patient Portal and EDM in the cloud. The cloud computing technology on which the solution is based addresses the current challenges of the increasing use of medical event reporting, increases accessibility to patient records produced within the hospitals, and guarantees their security while meeting regulatory requirements. In addition, the system offers a full range of e-services that enhance the comfort of staff, as well as improve the patient experience. In implementing the new solutions, we have also provided full technical and factual support” – said Dariusz Śliwowski, Deputy Director of the Healthcare Division, Asseco Poland.

„Thanks to the solutions used in the Regional Repository of Electronic Medical Records project, Polish doctors get access to the most modern solutions for searching, sharing, archiving medical image data in the world. In addition, thanks to e-Consultation, for the first time in Poland we enable remote medical consultation of DICOM images in the diagnostic standard. Both solutions significantly contribute to the improvement of diagnostic processes in the Kujawsko-Pomorskie voivodeship. The possibility of quick consultation of imaging studies for doctors of various specialties from different hospitals will increase the level of patient safety and the comfort of doctors' work” - emphasised Paweł Mańdok, President of AGFA HealthCare in Poland.

Advantage through the cloud

The creation of the Regional Repository of Electronic Medical Records brings numerous benefits. First and foremost, it introduces comprehensive, shared processing and delivery of medical services among hospitals in a cloud model, which translates into significant savings, and provides easy access to medical records and imaging studies. In addition, the system enables immediate exchange of EMD between hospitals in the region, which increases the availability of the service and guarantees its continuity. The entire process is carried out with the highest standards of data security, backups of which are stored in separate locations, so they can be recovered, for example, in the event of a server room failure.

The extensive digitization process is a challenge for large hospitals as well as small and mid-sized entities. They need the right partners who will not only guarantee efficient data management, but also properly secure it.

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Asseco Poland has been recognized by the Institute of Accounting and Taxation (IRiP) in "The Best Annual Report" competition. The competition's jury recognized Asseco for the best corporate governance statement among private companies.

"The Best Annual Report" is a competition for the best annual report in terms of its useful value for shareholders and investors. Its main objective is to shape good practices in financial reporting of public companies, which enhances the security of the capital market in Poland.

Since the beginning of its operations, Asseco has been committed to corporate governance in the organization and has been involved in activities for the benefit of local communities and environmental protection, said Justyna Sowińska, Director of the Management Office, Asseco Poland. We are also aware that for a listed company, the fundamental principle of doing business is transparent communication with all the Company's stakeholders. Therefore, we make every effort to ensure that the information we provide meets all legal requirements and the highest quality standards, she added.

Honors in "The Best Annual Report" competition are awarded to companies from the regulated market that prepare consolidated annual reports according to IFRS/IAS and companies from the alternative market that report according to IFRS/IAS or the Accounting Act. The results of this year's competition were announced at the final gala, held on October 12, 2023 in the Quotation Room of the Warsaw Stock Exchange building. On behalf of Asseco, the award was received by Justyna Sowińska, Director of the Management Office, who heads the work related to the preparation of Asseco Poland's corporate governance statement.

The corporate governance statement is a separate part of the annual management reports on operations, and the information contained therein refers, among other things, to the corporate governance principles and practices that the issuer applies or the rules of the management and supervisory bodies. The highlighted statement can be found in the Management Report on the Operations of the Asseco Group and Asseco Poland S.A. for the year ended December 31, 2022.

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