Press Office

Asseco's revenues are diversified by sectors and in 2019 were divided into: banking and finance - 38%, general business - 38% and public administration - 24%. The Group is also geographically diversified and presents its results broken down by three segments: Asseco Poland (Polish market), Formula Systems (Israeli market) and Asseco International (other international markets).

The year 2019 was very successful for Asseco - for the first time we generated PLN 10.7 billion in consolidated revenues and PLN 976 million in operating profit. In line with our strategy, we focused on the production of proprietary software and provision of related services. Such revenues accounted for 81% of our sales. Foreign markets represented by the Asseco International and Formula Systems segments accounted for 89% of our revenues. This confirms that the consistently pursued vision of Asseco's development, focused on the production of proprietary software and acquisitions of companies engaged in it, is the right direction to build the strong Asseco Group and a good way to diversify our operations by sectors and geography, said Adam Góral, President of the Management Board of Asseco Poland.

The Formula Systems segment accounts for the largest portion of revenues generated by Asseco. In 2019 the Formula Group companies significantly improved their sales and profitability as a result of conducted acquisitions as well as consistent development on international markets and taking advantage of the economies of scale.
The Asseco International segment recorded an increase in sales revenues and operating profit in all of its major regions of operations, namely Central Europe, South Eastern Europe and Western Europe. The growth of Asseco Central Europe was driven by new contracts concluded with public and financial institutions in the Czech Republic and Slovakia. Following the strategy of economic and organizational independence of each of the operating segments, the Asseco South Eastern Europe Group achieved very good results in the segments of banking solutions, dedicated solutions and payments (Payten). The companies specialized in ERP solutions bought by Asseco Enterprise Solutions also improved their performance year on year.
The Asseco Poland segment signed new long-term agreements, worth several hundred million zlotys, with various public institutions (including the National Health Fund (NFZ), the Social Insurance Institution (ZUS), the Agricultural Social Insurance Fund (KRUS) and the Agency for Restructuring and Modernisation of Agriculture (ARiMR)). The Company continued to strengthen its position on the healthcare market by actively participating in the process of digitization of the Polish healthcare sector. In the area of banking and finance, the client portfolio was expanded and long-term service agreements were executed, ensuring a stable source of revenues from this sector.
At present, Asseco's consolidated order backlog for 2020 is
versus the backlog presented in March 2019.

When it comes to Asseco's development prospects in 2020, I am aware that due to the SARS-CoV-2 virus pandemic, the whole world is now in a situation whose impact on the economy is difficult to estimate. We have taken all necessary steps to provide our employees with safe working conditions and our customers with full readiness to serve them and meet their obligations. We are also developing various scenarios of events to prepare Asseco for actions during and after the pandemic. In 2020 we will focus on further improvement of efficiency and simplification of the Group structure, continued development of competence areas and international expansion. There is no doubt, however, that this year will be very demanding on many levels, added President Góral.

Asseco Poland has been consistently building value for its shareholders and sharing profit with them. This year the Company's Management Board also recommended the payment of a dividend.

The Group's very good financial results in 2019 allowed us to recommend the payment of a dividend and to allocate PLN 250 million for this purpose this year. Asseco has been sharing its profits with shareholders for years and so far it has allocated PLN 2.2 billion for dividend payments, said Adam Góral.

The dividend amount recommended by the Management Board of Asseco Poland is equivalent to

When it comes to Asseco's development prospects in 2020, I am aware that due to the SARS-CoV-2 pandemic, the whole world is now in a situation whose impact on the economy is difficult to estimate. We have taken all necessary steps to provide our employees with safe working conditions and our customers with full readiness to serve them and meet their obligations. We are also developing various scenarios of events to prepare Asseco for actions during and after the pandemic. In 2020 we will focus on further improvement of efficiency and simplification of the Group’s structure, continued development of competence areas and international expansion.
However, there is no doubt that this year will be very demanding on many levels. That is why Asseco is joining in to help in this difficult situation, which is the coronavirus epidemic. We focus on the areas where we have experience and competence:
1.    We believe that it is very important to act responsibly and ensure the continuity of the operations of our clients – the companies and institutions important for the functioning of the state, the financial system or the health sector. Therefore, despite the prevailing epidemiological situation, our employees are fully available on duty to ensure the smooth operation of our clients' systems.
2.    We provide additional activities for hospitals free of charge, aimed at adapting their systems to the needs of patients at risk of the pandemic. We are also in constant contact with the Ministry of Health and the National Health Fund (NFZ), carrying out ad hoc actions which support the fight against coronavirus.
3.    We support universities - we have provided a platform for educational activities free of charge. "Partnership for universities" – it is the offer of Asseco, the Home Cloud Operator and Google, aimed at providing free infrastructure and tools for conducting remote classes at universities for 6 months.
4.    We are also working with the Ministry of Digitization on speeding up the regulations enabling the introduction of video-verification, which is necessary, for example, for the remote activation of the electronic signature. Such a solution would enable many people, forced to quarantine today, to continue to function and sign documents remotely.
In addition, the Management Board of Asseco has decided to allocate PLN 1 million to support the health sector. We also operate locally - the Podkarpacki Business Club (PKB), of which Asseco is one of the founders, has decided to provide financial support to the medical sector in the Podkarpackie region in order to counteract the effects of the pandemic. PKB will allocate PLN 300,000 for this purpose, while Asseco will provide additional PLN 100,000 - said Adam Góral.

Announcement of the Merger Plan of Asseco Poland S.A. with SKG S.A.

1. Announcement of the Merger Plan

2. Merger Plan

3. Financial statements and reports of management boards on the activities of the merging companies for the last three financial years, together with the auditor's opinion and report:

1. Annual reports of Asseco Poland S.A. for 2019
2. Annual reports of Asseco Poland S.A. for 2018
3. Annual reports of Asseco Poland S.A. for 2017
4. Financial Statement of SKG S.A. for 2018
5. Statement on operations of SKG S.A.in 2018
6. Independent Auditors' Opinion on Financial Statement for 2018
7. Financial Statement of SKG S.A. for 2017
8. Statement on operations of SKG S.A. for 2017
9. Independent Auditors' Opinion on Financial Statement for 2017
10. Financial Statement of SKG S.A. for 2016
11. Statement on operations of SKG S.A.in 2016
12. Independent Auditors' Opinion on Financial Statement for 2016

4. I notification about the intended merger

5. II notification about the intended merger

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With the safety of our employees, customers and all stakeholders in mind, we have reviewed our business continuity and crisis management plan to adapt procedures to the current situation caused by coronavirus and its subsequent consequences. We have taken into account possible governmental orders such as restrictions on movement and assemblies or the need for quarantine, which would involve the unavailability of offices or mass absences of employees.
We would like to emphasize that at present we do not see any real threat to the continuity of the Company's operations. We have taken all necessary steps to ensure safe working conditions for our employees and full readiness to serve our clients and meet their obligations.
As part of our preventive measures, we have taken the following steps, among others:
•All events organized by Asseco (conferences, presentations, company meetings, etc.) have been moved to another date.
•We have introduced a ban on our employees from participating in mass events or trainings organized by other companies.
•We have limited the number of business trips with the use of public transport to the necessary minimum. At the same time, we recommend that as many meetings as possible be held in the form of tele- or videoconferences.
•We have introduced a ban on business trips to the countries or regions listed on the GIS website, as well as on receiving delegations from these places. The list is monitored on an ongoing basis.
•We discourage employees from making private journeys to countries or regions at risk (listed on the GIS website). In the event that an employee returns from one of these places, he/she is required to undergo quarantine for 14 days and will work from home if possible.
•If an employee comes into contact with an infected or quarantined person, he/she is obliged to undergo quarantine for 14 days and will work from home if possible.
With best regards,
Management Board of Asseco Poland

Asseco and Cyfrowy Polsat won in the "Event of the Year in the ICT Sector" category during the 12th TIME Economic Forum held on March 9-10, 2020 in Warsaw. The title was awarded for establishing the cooperation between these two leaders of the IT and telecommunications market. The award was received on their behalf by Radosław Semkło, the Director of the Telecommunications and Media Division at Asseco Poland and the Member of the Management Board at Polkomtel.

The cooperation with Cyfrowy Polsat is a huge development opportunity for Asseco, especially in the telecommunications and media sector. We are aware that having such a partner not only strengthens our market position, but also gives us a chance to gain unique references, said Radosław Semkło. In turn, our knowledge and experience reinforce the competence of Cyfrowy Polsat in the IT area, which has become an integral part of the telecommunications industry, he added.

The TIME Economic Forum Award is a distinction awarded to companies and individuals contributing to the development of the ICT market with their attitude, work and commitment. They promote the implementation of modern technologies, contribute to the improvement of standards, quality of offered products and services and support the innovative transformation of the digital industry.

By the end of June, non-public stock and limited companies must select an entity to keep an electronic register of shareholders. Only entities authorized to conduct brokerage activities, such as brokerage offices and houses, will be able to do so. Asseco Poland has developed PROMAK RA - an IT system that will enable to serve these new clients. Asseco's solution is integrated with the Blockchain Platform for the Capital Market provided by the National Depository for Securities (KDPW).

The mandatory dematerialization of non-public companies' shares will apply to all stock companies and limited stock partnerships, regardless of the number of shareholders. In Poland there are about 14,000 such entities. The shares of these companies issued in the form of a paper document will expire in 2021. These companies will have to have an electronic register of shareholders kept by an authorized entity, e.g. a brokerage house. The aim of the changes is to increase the transparency and efficiency of the exchange of information on tax matters in accordance with the standards of the Organization for Economic Cooperation and Development.

The introduced changes mean a new area of activity for brokerage offices. With a view to adapt them to the new responsibilities, Asseco Poland has developed PROMAK RA - an IT system that enables keeping the register of shareholders. It provides users with an electronic form of all brokerage activities related to the register of shareholders (register of agreements, issues, transfers, blocks of shares, register certificates) as well as handling of rights attached to shares, including dividends. By the end of June 2020, companies must select the entity with which they will conclude an agreement to maintain the e-register.

It is impossible to keep an electronic register without a specially developed IT system. Asseco has been cooperating with the capital market for many years; therefore, with the new responsibilities of brokerage houses in mind, we have created PROMAK RA, which will allow them to offer these services at the highest level of technology and security, said Artur Trunowicz, Director of the Capital Markets Division, Asseco Poland.

PROMAK RA can be implemented both in the system of the existing infrastructure of the financial institution, as well as launched in the cloud-based SaaS formula. This allows for an easy and quick start-up of the solution without the need to engage internal IT resources. Asseco's system is integrated with the Blockchain Platform for the Capital Market developed by KDPW.

The idea of the Blockchain Platform for Capital Market is to provide all its participants with the infrastructure to co-create a uniform, safe and trusted ecosystem of cooperation. It is an open solution, which facilitates the cooperation in the area of innovative post-trading services, said Sławomir Panasiuk, Vice-President of the Management Board of KDPW.

The aim of KDPW in creating the concept of the Platform was to minimize the costs associated with the creation of services in a distributed model. This allows for the creation of specific solutions without the need to incur duplicate expenses on the creation of the network and development of its maintenance processes. The Platform also lowers the threshold of entry into the area of blockchain technology and allows to widely use the potential of the ecosystem created by capital market institutions. The platform was launched in mid-2019. The first service available on the platform is eVoting, which digitizes the voting process at general meetings of companies.

Asseco for the capital market
Asseco Poland is a provider of the PROMAK family of solutions dedicated to the financial sector, which effectively support the work of brokerage houses, banks, depositors and investors, both individual and institutional. The company is also the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the 6th largest European software producer. It leads international Asseco Group, which operates in over 50 countries and employs over 24,000 people.

KDPW Group
The National Depository for Securities (Krajowy Depozyt Papierów Wartościowych - KDPW) forms a capital group offering highly specialized services for the financial sector, related to the deposit of dematerialized financial instruments, clearing and settlement of transactions, performance of services to holders of securities, data collection and storage. The group consists of KDPW, which acts as the central securities depository (CSD), and the KDPW_CCP clearing house.

Related links

• Więcej informacji o rozwiązaniach PROMAK