Asseco Group published its financial results for the first three quarters of 2016 on 17 November. Group revenues stood at PLN 5.7bn, which is PLN 613m more (up by 12%) than in the same period in 2015. This is mainly due to significantly larger sales on foreign markets, which are becoming increasingly important for the Group results - 79% of its revenues in recent quarters have been generated outside Poland. Israeli companies reported a particularly high growth in revenues – they improved their results by 18% year over year and reported PLN 3.2bn in revenues in the first three quarters of 2015. Company results are characterized by very good revenue diversification, both in regional as well as sectoral terms; 39% is atributed to the financial sector, 40% - to the corporate sector, and 21% - to the public administration sector. Selling its proprietary solutions remains Asseco’s business and development strategy foundation. It generated more than PLN 4.6bn in the recenet period – thisrepresents 81% of total revenues.Adam Góral, President of the Board of Asseco Poland: We are pleased with Asseco Group financial results for the first three quarters of 2016. The Group reported, among others, record-high revenues – over PLN 5.6bn. Our international operations are constantly developing, and a highly diversified business sector provides us with great stabilization. First three quarters of 2016 also saw us focus on further reorganization of the Group's structure in Poland and abroad, in order to operate more effeciently and dynamically.Further reorganization of the Asseco Group’s structure in national and international markets marked the third quarter of 2016. As of 1 July 2016 there are four companies within the Group framework – Asseco Poland, Asseco Business Solutions, Asseco Data Systems and DahliaMatic. Past months have seen intense work on their integration at the operational level, and an even better adaptation to market requirements. Tender offer for the shares of Asseco Central Europe was also an important event. Acquisition of 100 per cent of shares in ACE will enable the plan of delisting the company to go forward. This, in turn, will facilitate decision making regarding further development of ACE, and reduce costs associated with disclosure requirements relating to public companies.
Furthermore, Modulus joined the Asseco Group. It is a Polish startup specializing in advanced cloud solutions and services for UI/ UX design. This represents Asseco’s first investment of this type in Poland and forms part of the company strategy of developing proprietary innovative IT products and advanced IT services.Asseco continues to work with its key clients and is actively pursuing new projects. Order book stood at PLN 7.5bn in November 2016, which represented an 11% increase compared to last year.

Asseco was the general partner of a conference that preceded the award ceremony. It provides a platform for discussion on innovative IT solutions for the financial market and the challenges facing the digital economy. Guests included representatives of the banking sector, independent experts, and suppliers of cutting-edge IT Technologies. Zbigniew Pomianek, Vice President of Asseco Poland, was also among the invited guests and participated in a panel discussion entitled ‘Time to Market’, alongside Ryszard Drużyński, Vice President of the Management Board of Raiffeisen Bank Poland. In his speech, Asseco VP placed great emphasis on the ‘IT of two speeds’ issue.Zbigniew Pomianek said: On the one hand banks expect a high implementation speed, particularly for e-banking projects. On the other hand, when we’re approaching core systems, they primarily care about safety and stability. We try not to get torn by these two speeds.Ryszard Drużyński added that quick action is important for banks. This is one of the reasons he rates the implementation of Asseco CBP (Customer Banking Platform) at his institution so highly. CBP allows the bank to develop the application on its own, which further shortens the time to market.
As the discussion unfolded, the speakers talked about the possibilities of using the cloud in the banking sector. Pomianek said that Asseco uses it heavily already, offering services within the SaaS model to cooperative banks. In addition, using a cloud solution reduces the implementation time to several days. However, he stressed that this applies to standard solutions. For solutions dedicated to a particular customer the ‘time to market’ has to increase so that all functionalities are properly implemented.

The awards were presented during a gala ceremony held in Warsaw on October 28.

Forbes drew particular attention to the fact that Asseco developed an efficient growth model, focusing on sale of proprietary software and acquisition of other companies.

Marek Panek, Vice President of Asseco Poland: A tender offer for the shares of Asseco Central Europe is a logical step in the process of simplifying the structure of Asseco Group. Acquisition of 100 per cent of shares in ACE will enable us to go forward with our plan of delisting this company. This, in turn, will facilitate decision making regarding further development of ACE, and reduce costs associated with disclosure requirements relating to public companies.Tender offer details:Tender Offer Price is not lower than the minimum price determined in accordance with the provisions of s. 79 ss. 1 and 2 of the Act and stands at PLN 23.5 per share.Tender Offer Price is not lower than the average market price (i.e. the arithmetic mean of the volume weighted average daily share price) for the last 6 (in words: six) months preceding the announcement of the Tender Offer, during which shares were traded on the main market, which stands at: PLN 21.30 (in words: twenty one zloty thirty groszy).Moreover, the Tender Offer Price is not lower than the average market price (i.e. the arithmetic mean of the volume weighted average daily share price) for the last 3 (in words: three) months during which shares were traded on a regulated market, preceding the announcement of the Tender Offer, which stands at: PLN 23.00 (in words: twenty three zloty zero groszy).Tender offer schedule:

Tender offer announcement date: October 24th, 2016 Collection of subscriptions for shares commencement date: November 15th, 2016 Collection of subscriptions for shares close date: December 14th, 2016 Expected dealing day on the Warsaw Stock Exchange: December 19th, 2016 Expected settlement day at the National Depositary for Securities: December 22nd, 2016

The list of speakers included Michał Mrożek, CEO of HSBC Poland; Krzysztof Rosiński, CEO of Getin Noble Bank S.A .; Andrzej Reich, Department Director at Polish Financial Supervision Authority; Adam Góral, CEO of Asseco Poland S.A.; and Zbigniew Pomianek, Vice-President of Asseco Poland S.A.Adam Góral opened the conference with a short speech. This was followed by a panel discussion dedicated to the development of the FinTech industry and possible cooperation models between banks and the FinTech industry. Technology Vision for Banking 2016, a report by Accenture, was presented in the latter part of the meeting.
New IT solutions for the banking industry were also discussed at the Forum. Capabilities of cutting-edge solutions, such as the Asseco Customer Banking Platform (the Asseco CBP) implemented at Raiffeisen Bank Poland S.A., were presented. This proprietary system developed by Asseco Poland allowed the bank to hand over control over a modern solution based on mini-applications to its customers. As a result, each user can personalize the Internet banking platform R-Online to suit their habits and needs to the greatest extent possible. This presentation guaranteed a smooth transition into the closing panel of the Asseco Banking Forum, which concerned the effective use of technology in the development of Polish banks.
Zbigniew Pomianek, Vice-President of Asseco Poland S.A. made a few remarks after the event: It’s the banks that set technology trends in Poland. Fintechs are complementary companies that make up the whole ecosystem. Bank officials need to take advantage of this situation properly and thus have an impact on a positive response from customers. (...) If you take a look at successful Finechs what you’ll see is that technology does not provide a strategic advantage, but it forms the basis for overtaking your competitors.
Additional report from the meeting can be found on www.wgospodarce.pl