Asseco has once again been included in the "List of 500" ranking of the largest companies in Poland, which is prepared by the editors of the Rzeczpospolita daily. In the 14th edition of the list, the company was ranked 23rd. In 2021 Asseco reached PLN 14.5 billion in revenues, 19% more than in 2020. The Group recorded significant increases in results in all segments and business sectors.

Asseco continues to grow rapidly. After three quarters of 2022, it already achieved PLN 12.8 billion in sales revenues, up 24% year-on-year. In turn, consolidated operating profit stood at PLN 1.4 billion, up 29%.

The first three quarters of 2022 were a period of stable growth for us. We recorded improved results, despite difficult business environment and rising labor costs. This was possible due to our unwavering strategy of geographic, product and sector diversification, which, with the high rate of digitization in the economy, allows us to grow steadily, said Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

Asseco has been ranked 6th on the "List of the 30 Largest Polish Private Investors Abroad" prepared by the editors of Forbes magazine. Thus, it is the highest ranked technology company in the list. In 2021, foreign sales accounted for 89 percent of the Group's revenues. In turn, the value of Asseco's assets located outside Poland amounted to PLN 3.5 billion.

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.

We are also constantly increasing the scale of business through acquisitions. In the first nine months of 2022, 10 new companies joined the Group. Despite the volatile macroeconomic environment, demand for our solutions persists, as evidenced by our order backlog, growing in fixed exchange rates by 10 percent compared to the backlog a year ago, said Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

After three quarters of 2022, Asseco achieved PLN 12.8 bn (EUR 2.7 bn) in sales revenues, which marked an increase by 24% year-on-year. Sales of proprietary products and IT services increased by 22% and amounted to PLN 9.9 bn (EUR 2.1 bn). Consolidated operating profit stood at PLN 1.4 bn (EUR 288 m), up by 29%. Net profit attributable to shareholders of the parent company increased by 4% to PLN 376 m (EUR 80 m). The Group continued stable growth in all business segments.

After nine months of this year, non-IFRS* operating profit amounted to PLN 1.5 bn (EUR 315 m), up by 15% year-on-year, while non-IFRS net profit attributable to Asseco Poland’s shareholders stood at PLN 409 m (EUR 87 m), up by 6%. 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.

The Group increased sales in all operating segments, thanks to a consistently pursued strategy of geographic, product and sector diversification of business. After three quarters of this year, foreign markets represented by Formula Systems and Asseco International accounted for 90% of the Group's sales.

Revenues in the Formula Systems segment amounted to PLN 8.6 bn (EUR 1.8 bn), which marked an increase of 29%, and operating profit amounted to PLN 885 m (EUR 189 m), up by 70% from the corresponding period in 2021. The reported level of operating profit in this segment is significantly and negatively impacted by additional amortization costs of intangible assets recognized under the combination settlement (PPA) and the costs of share-based payment transactions with employees (SBP), which reduced it by PLN 245 m (EUR 52 m) over the three quarters of 2022. At the same time, in the reporting period, the operating profit was favorably affected – in the amount of PLN 197 m (EUR 42 m) - by the sale of shares in Infinity Labs R&D. After taking these adjustments into account, the Formula Systems segment's non-IFRS operating profit stood at PLN 933 m (EUR 199 m), 27% higher than in the same period a year ago.  In the Asseco International segment, sales increased by 18% to PLN 3.0 bn (EUR 638 m), and operating profit reached PLN 254 m (EUR 54 m). After non-IFRS adjustments, this segment's operating profit was similar to last year's levels, totaling PLN 321 m (EUR 68 m). The Asseco Poland segment generated revenues of PLN 1.3 bn (EUR 268 m), up by 12% from a year earlier, and operating profit was 4% higher at PLN 215 m (EUR 46 m).

The Asseco Group's revenues are very well diversified by sectors. After 9 months of 2022, they were distributed as follows: general business - 42%, banking and finance - 34% and public institutions - 24%.

In the third quarter of this year alone, the Group recorded sales of PLN 4.5 bn (EUR 959 m), which marked an increase of 28%. Operating profit stood at PLN 422 m (EUR 90 m) – up by 13%, and non-IFRS operating profit was PLN 512 m (EUR 109 m) –  up by 12%. Net profit attributable to shareholders of the parent company amounted to PLN 128 m (EUR 27) –  up by 6%, and in non-IFRS terms at PLN 138 m (EUR 30 m) – up by 1%.

The first three quarters of 2022 were a period of stable growth for us. We recorded improved results, despite difficult business conditions and rising labor costs. This was made possible by our continued strategy of geographic, product and sector diversification, which, with the high rate of digitization in the economy, allows us to grow steadily. The nature of our business allows us to focus on recurring revenues, which provides financial stability and predictability. We are also constantly increasing the scale of the business through acquisitions. In the first nine months of 2022, 10 new companies joined the Group. Despite the volatile macroeconomic environment, demand for our solutions persists, as evidenced by our order backlog growing in fixed exchange rates by 10% compared to the backlog a year ago. At the same time, we take into account external factors related to the economic situation in Poland and the world, and with so much uncertainty, we approach the future with caution, says Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

Asseco's consolidated order backlog for 2022 at floating exchange rates, in the area of proprietary software and services, is now worth PLN 12.9 bn (EUR 2.8 bn), 19% higher than in the same period last year. Recalculating the backlog for 2022 at the rates at which the backlog for 2021 was converted, the increase is 10% to PLN 11.9 bn (EUR 2.5 bn).

* Non-IFRS figures include adjustments for: the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies (M&A) and one-off events (and tax effects associated with them).

Asseco Poland has once again won the top prize in the IT@Bank ranking prepared by the Financial Monthly "Bank". The company maintained the 1st place with a large point advantage over the next companies. In addition, Asseco ranked 2nd in the efficiency sub-ranking.

The company's success in the ranking was influenced by its revenue from operations, high profitability, one of the highest ratios of spending on research and development (R&D), and a high score for the number of active clients in the financial sector. Cooperation with institutions in this industry accounts for almost 30 percent of Asseco Poland's revenues.

We focus on innovative solutions that respond to the dynamically changing financial services market, said Marek Lulek, Director of the Sales Department, Asseco Poland, who received the award.  One such product is Asseco BooX (Bank out of the Box), Poland's first universal process and technology platform for selling and handling financial products. It can serve as a foundation for building a new bank, as well as be used to rebuild or modernize an existing financial institution, he added.

For the cooperative bank sector, Asseco offers the Common Information Platform (WPI), a comprehensive technology and process solution for the bank, made available in a SaaS model that can be used by multiple institutions.

The 17th 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 in the last full fiscal year. The organizer and publisher of the compilation is the Financial Monthly "Bank".

As part of the execution of a tender for the Polish Army, Asseco has put 6 Mayfly Unmanned Aerial System kits into service for the army. Each set consists of 4 drones, as well as a command and control station with dedicated software and a package of accessories. The new equipment will enable, among other things, day-night observation of the enemy and terrain, impact assessment, detection of targets and observation of premises and facilities in urban areas.

Drones play an extremely important role in modern armies. They have both offensive and reconnaissance applications. They enable safe reconnaissance of the area of operations from the air, giving a significant advantage over the enemy.

The army buys Polish drones

Along with Flyeye and Warmate, Mayfly is another Polish-made unmanned aerial vehicle that has made its way to the Polish army.

The Mayfly Unmanned Aerial System is a solution created from scratch by Polish engineers. This means that we have full control over the safety of both hardware and software. It was critical to meet stringent military standards. We coped with this challenge, although it required months of research and testing, says Tomasz Mosiej, team leader for unmanned platforms at Asseco. Thanks to this implementation, the Asseco Group, which primarily deals with software, has entered a new area of business. This product can be used not only by the military, but also by other uniformed services in Poland and abroad, particularly in other NATO countries, he adds.

Drones for special tasks

The Asseco drone is equipped with an observation head having two sensors: one is working in the visible light spectrum, the other is a thermal imaging one for nighttime operations. The system is designed to operate in harsh weather conditions, thus meeting a number of Defense Standards. To operate it, all is needed is a tablet with Asseco software and a controller.

The solution uses an innovative communications system and dedicated, Polish-made components. This makes the device difficult to detect when performing missions in areas where anti-drone systems currently available on the market are used. The system is adapted to operate using map formats and numerical terrain models currently used by the military. The built-in three-dimensional map module allows missions to be carried out anywhere in the world without worrying about "NO-FLY" zones imposed by any entity.

The equipment is ready for use in just a few minutes. Asseco's drones are perfect for close observation, when quick decisions need to be made, such as whether it is safe enough for a special ops to enter a building or room, explains Tomasz Mosiej.

Intelligent weaponry of the modern army

Used by the military, drones are an excellent complement to other means of warfare, such as tanks, artillery, and aircraft. Drones have numerous applications, reduce personnel losses, and are cheaper to produce than other military hardware. It is generally accepted that the first armed conflict in which drones were used on a very large scale was the war between Armenia and Azerbaijan in 2020. Since then, drones have become an important part of the weaponry of many of the world's armies. It is drones that largely enable Ukraine's military to resist Russian aggression. According to experts, the drones are responsible for neutralizing dozens of Russian tanks or armored vehicles. Now the modern equipment will also support the Polish army.

Asseco ranked 5th in the "Top Polish Exporters 2022" list prepared by the editors of Forbes magazine. At the same time, it is the highest ranked IT company in the list. Asseco, whose business is based on a federation model, in 2021 achieved revenues exceeding PLN 14.5 billion, of which more than PLN 12.7 billion were foreign sales.

2021 was another very good year for Asseco, said Adam Góral, CEO of Asseco Poland. We focused on selling our proprietary software, providing related services, as well as increasing the scale of our business through acquisitions. Last year we were joined by 18 new companies operating in the Israeli, European and American markets, he added.

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 is growing organically as well as through acquisitions, of which it has made more than 120 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to the Computerworld TOP200 report for 2022.