Asseco’s double-digit increases in all segments and business sectors in H1 2021

In the first half of 2021, Asseco generated sales revenues of PLN 6.8 billion, which marked an increase by 18% year on year. The sales of proprietary IT products and services amounted to PLN 5.3 billion, representing 78% of total revenues. The consolidated operating profit increased by 21% and amounted to PLN 672 million. Net profit attributable to shareholders of the parent company amounted to PLN 242 million, increasing by 37%. The Group strengthened in all segments and sectors of its operations, recording double-digit increases in its results.

After H1 2021, non-IFRS operating profit amounted to PLN 826 million, up by 22%, and non-IFRS net profit, after a 24% increase, reached PLN 249 million.

The Asseco Group consistently pursued its development strategy while responding to the increasing market demand for digitization of business processes of companies and institutions. This enabled the Group to achieve double-digit increases in revenues and profits across all of its business segments and sectors.

In the Formula Systems segment, during the first 6 months of 2021, sales increased by 20% to PLN 4.4 billion, while operating profit improved by 18% to PLN 339 million. Sales revenues of the Asseco International segment reached PLN 1.7 billion, reflecting a 12% increase, while its operating profit increased by 15% to PLN 199 million. The Asseco Poland segment generated PLN 751 million in sales revenues or 17% more than in the corresponding period last year; whereas, its operating profit improved by 45% to PLN 137 million. Foreign markets, represented by the Formula Systems and Asseco International segments, together accounted for 89% of the Group's revenues.

In the first half of 2021, the Group increased its sales to the sectors of general business and public institutions by 22%; whereas, revenues from the banking and finance sector increased by 10%. Asseco's revenues are well diversified by sectors. In the reported period, general business accounted for 41% of sales, banking and finance for 34%, and public institutions for 25%.

In Q2 2021 alone, the Group recorded sales revenues of PLN 3.5 billion, which marked an increase of 21%. Operating profit increased by 15% and amounted to PLN 349 million, and net profit attributable to shareholders of the parent company amounted to PLN 139 million.

Asseco's consolidated order backlog for 2021 in the areas of proprietary software and services is currently worth over PLN 10.1 billion and is 16% higher than in the same period last year.

We had a very good half-year. Double-digit increases in results in all segments and sectors of our operations, while maintaining profitability, are a source of great satisfaction. Geographical, sector and product diversification of our business brings measurable effects. We are growing organically as well as through acquisitions. During the first 6 months of 2021, 11 new companies joined the Group, strengthening our position on foreign markets. As digitization of business processes has become the answer to many challenges faced by companies and institutions today, we observe increased demand for our solutions and services, which is confirmed by double-digit growth of the Asseco's order backlog for 2021 in each of our operating segments. This allows us to look at the second half of the year with optimism – said Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

* Non-IFRS figures including 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), the costs and financial revenues resulting from the transactions of purchase and sales of companies (M&A) and tax effects associated with them).