Press Office

Asseco has once again been included in the "List of the 30 largest Polish private investors abroad" prepared by the Forbes magazine. The software producer is also once again the leader among IT companies listed in the ranking. Last year, foreign sales accounted for 90 percent of the Asseco Group's revenues.

Asseco is present in more than 60 countries around the world and employs nearly 33,000 people. It has made more than 130 acquisitions since 2004, and its companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

The international nature of our organization and its federative structure, which leaves a great deal of autonomy and freedom of action to individual companies, allow us to compete effectively on foreign markets, while maintaining the local and flexible approach so necessary for our customers. In 2022 alone, our Group was joined by 16 companies operating on the European, Israeli and American markets, said Adam Góral, President of Asseco Poland.

Asseco once again won the top prize in the IT@Bank ranking for the second year in a row and was named the most comprehensive IT company in the list. The ranking includes technology companies working with the financial sector. It honors organizations that grow dynamically and are most trusted by financial institutions.

Asseco's revenues on the Polish market exceeded PLN 2 billion, making them the highest of all analyzed entities. The company's success was also affected by a high level of spending on research and development (R&D), as well as a large group of clients from the financial sector, numbering as many as 325.

Partnership and innovation
Asseco has been a trusted partner of financial institutions in both the commercial and cooperative sectors for more than 30 years. The company has been constantly working on the development of its solutions so that they meet the expectations of customers and, through innovations, increase their competitiveness.

By winning the IT@Bank ranking, we have simultaneously been recognized as the most versatile IT company, said Marek Lulek, director of the Cooperative Banks Division and director of the Sales Department in the Commercial Banks Division, Asseco Poland, who accepted the award on behalf of the company. We develop universal solutions that, among other things, enable our clients to comprehensively and efficiently sell and service financial products. One such product is Asseco BooX (Bank out of the Box), a universal process and technology platform that can provide the foundation for building a new bank, as well as be used to rebuild or modernize an existing financial institution, he added.

The 18th edition of the IT@Bank ranking is an assessment of technology companies prepared on the basis of indicators representing the achievements of a given company. The organizer and publisher of the compilation is the "Bank" Financial Monthly.

Read more about innovative solutions for the financial sector at: https://boox.asseco.com/

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.