In the first half of 2023, the Asseco Group's revenues exceeded PLN 8.5 billion (EUR 1.8 billion), which marked an increase by 3% versus the corresponding period in the previous year. Proprietary software and related services accounted for 79% of this amount - more than PLN 6.7 billion (EUR 1.5 billion). In turn, operating profit reached PLN 793 million (EUR 172 million), while net profit attributable to shareholders of the parent company stood at PLN 231 million (EUR 50 million).

For the assessment of the financial situation and development of the Asseco Group's business activities, the basic data published in non-IFRS* terms is an important piece of information. During the first six months of 2023, the Asseco Group generated PLN 982 million (EUR 213 million) in non-IFRS* operating profit, up 2% versus the first half of 2022. In turn, non-IFRS net profit attributable to Asseco Poland’s shareholders totaled PLN 260 million (EUR 56 million).

Asseco's revenues remain very well diversified by sectors. In H1 2023, they were distributed as follows: general business - 42%, finance and banking - 34% and public institutions - 24%. The Group recorded sales increases in each of these areas. In the public institutions sector, revenues increased by 6%, in finance and banking the increase was 3%, and in the general business sector it reached 2%. Asseco has a diversified customer portfolio - the 10 largest contractors accounted for 11% of the Group's revenues, while the largest customer was responsible for 2%.

Sales growth in Poland and strong position on foreign markets

A very good half-year period was recorded by Asseco Poland. Revenues in this segment increased by 16% in H1 2023 to PLN 971 million (EUR 210 million). Foreign markets represented by the Formula Systems and Asseco International segments accounted for 89% of the Group's total sales. The Formula Systems segment recorded PLN 5.6 billion (EUR 1.2 billion) in revenues, which marked a 3% increase versus the first six months of 2022. Sales of the Asseco International segment were comparable to the same period a year earlier and reached PLN 1.9 billion (EUR 421 million). During the period under review, the Asseco Group’s companies finalized three acquisitions on the Israeli market, strengthening their position in the area of cyber security and expanding their offerings with more IT solutions and services.

"Asseco's continued growth in a volatile business environment was possible thanks to strong sector, product and geographic diversification. We are pleased with the very good results in the Asseco Poland segment, where revenues grew at a double-digit rate. In the first half of the year, we observed dynamic sales growth in the areas of finance and banking, healthcare, energy and telecommunications. Revenues from the general business sector grew by 29% in Poland, and from finance and banking by 28%. Our revenues grew dynamically at Asseco Data Systems companies, including in the areas of trust services, and at Asseco Cloud, which generated sales in the first half of the year that were over 30% higher than in the corresponding period in the previous year" - said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland. "In the case of international markets and the Asseco International segment, we are very pleased with the sales of ERP solutions. The Asseco South Eastern Europe Group increased its scale of operations in all segments. Formula Systems companies have been successively acquiring new contracts and winning customers in Israel, North America and Europe" – added Asseco Poland’s CFO.

Asseco's consolidated order backlog for 2023 in variable exchange rates, in the area of proprietary software and services, is now worth PLN 12.2 billion (EUR 2.7 billion). In fixed exchange rates, it amounts to PLN 13.4 billion (EUR 2.9 billion) and is 7% higher than in the corresponding period last year.

* 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 and one-off events (and related tax effects).

Asseco won in 10 categories of the "ITWiz Best100" ranking, making it the leader of the list for another year in a row. With revenues of PLN 17.4 billion, Asseco is the largest capital group in the IT industry. In addition, it is the largest company with Polish capital selling its proprietary products and services.

Asseco recorded the highest sales to large companies, as well as the public administration and uniformed services sectors, and banking. It also ranked No. 1 among providers of servicing, integration, cloud computing, application implementation and ERP software.

Asseco in the "ITWiz Best100" ranking for 2022:

Asseco has once again been included in the "H&M Index 500" list compiled by the editors of the Home&Market monthly magazine. The purpose of the ranking is to present companies for which corporate social responsibility in the broadest sense is a priority. In this year's edition, the ESG factor has played a significant role in the editors' decision to create the index.

Last year was a record year for Asseco in terms of financial performance. The company's business strategy enabled it to operate effectively in the face of global crises such as the COVID-19 pandemic and the outbreak of war in Ukraine, and above all to maintain the trust of employees, customers and investors. Asseco is aware, however, that it is not only valued for the financial efficiency of its operations, but also for the sustainability of its business. Since its inception, the company has been committed to corporate governance within the organization and has been involved in activities for the benefit of local communities and environmental protection.

Commitment, professionalism, respect, efficiency, quality and responsibility are our core values. They are the pillars of our business, which develops in a sustainable way thanks to them, said Gabriela Żukowicz, Vice President of the Management Board and Chief ESG Officer, Asseco Poland. We are determined to continue in this direction and, together with our employees, customers and investors, build a company that not only brings them tangible benefits, but is also a source of pride, she added.

For further information please visit: esg.asseco.com

Asseco ranked 19th in the "1000 largest companies in Poland" list prepared by “Gazeta Finansowa”. The company achieved record revenues of PLN 17.4 billion in 2022, making it the highest ranked IT company in the list.

Asseco's revenues are very well diversified. In 2022, the general business sector was responsible for 42% of sales, the banking and finance sector accounted for 33% and public institutions for 25%. In addition, the company also grew intensively in foreign markets, where it generated 90% of sales.

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 shareholders of Asseco Poland, said Adam Góral, President of the Management Board of Asseco Poland.

The biometric signature, which Asseco developed in cooperation with Xtension and Samsung, has been recognized in the "Technology Leaders" ranking prepared by the editors of "Gazeta Finansowa".  The purpose of the list is to showcase companies that, among other things, provide solutions that enable other organizations to be innovative.

The biometric signature is an electronically fixed handwritten graphic mark made with a stylus on a tablet screen. When it is applied, biometric characteristics - such as pressure and speed - are recorded. To secure the authenticity of the signature's origin and integrity, as well as its timing, it has been integrated with Asseco's qualified trust services compliant with the eIDAS Regulation (qualified seal and qualified electronic time stamp). Together with SignaturiX and mobile devices, they guarantee the security of signature submission and reliability.

A unique feature of the solution is its integration with the Trusted Third Party service, which manages the key that decrypts the biometrics collected during the signing process. The encrypted data is stored in the signed document, and the necessary key to decrypt it is held by Asseco - so the company acts as a Trusted Third Party.

The company's revenues from sales of IT products and services increased by 20 percent in 2022, reaching a record PLN 17.4 billion. Thus, Asseco is once again the largest IT capital group and the leader of digitization in Poland. In addition, Asseco took the lead in as many as 9 categories of this year's ranking of the IT sector in Poland.

Among other things, Asseco is the largest producer of custom software, including Business Intelligence, Big Data and Data Discovery systems. In addition, it is a leader among providers of IT solutions and services for large companies and enterprises, as well as the public administration and uniformed services, health care, and financial and insurance sectors. Asseco is also the largest provider of servicing in the country. The company keeps on spending the most on R&D. In 2022 alone, it invested nearly PLN 430 million in this area.

2022 was a record year for us in terms of both sales and net profit attributable to shareholders. We are immensely pleased with this, as the economic environment has been and continues to be challenging. Inflation, the war across our eastern border and the still-felt effects of the pandemic all make organizations more cautious about investments, including in technology, said Adam Góral, President of Asseco Poland. Despite the 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, he added.

Asseco in the Computerworld TOP200 ranking: