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Asseco Group reports PLN 1.6 billion in revenues and PLN 165 million in operating profit for the first quarter of 2015

On 13 May 2015, Asseco Group published its financial results for the first quarter of 2015. Sales revenues reached PLN 1.6 billion, growing by 13 percent as compared to the corresponding period of 2014. Revenues from proprietary software and services improved by 16 percent to reach PLN 1.32 billion. Operating profit amounted to PLN 165 million, while net profit attributable to shareholders of the parent company was PLN 78 million.

Sales of Asseco Group’s proprietary software solutions continue to grow, accounting for as much as 83 percent of total revenues in the first quarter of 2015. The Group’s revenues are diversified into the following sectors: general business – 48 percent, banking and finance – 41 percent, public institutions – 24 percent. In the first three months of 2015, the share of foreign operations in the revenue structure increased to 78 percent and amounted to PLN 1.23 billion. During the reporting period, Asseco Group signed 1,995 contracts.

Such a high level of sales in the first quarter of 2015 resulted from stronger revenues achieved across all the key markets where the Group companies operate. In Poland, we continued or completed the implementation of significant contracts, among others, for PKO Bank Polski, Bank Ochrony Środowiska, Orange Poland, Agency for Restructuring and Modernization of Agriculture (ARiMR), and Agricultural Social Insurance Fund (KRUS). A considerable contribution to the Group’s results was provided by our Israeli companies, which maintained a dynamic revenue growth while managing to improve their profit margins. In the first three months of 2015, these companies generated PLN 877 million in sales, recording a 28 percent increase over the last year’s figures.

In Central Europe, a substantial growth was achieved in Slovakia, helping to compensate for the prevailing stagnation in the Czech Republic. Our South Eastern European companies expanded their operations in the sectors of banking and payment solutions. They generated PLN 98 million in revenues and improved their profitability by selling more proprietary solutions. In the Western European market, we recorded a 10 percent growth on the back of higher revenues in Spain and in Germany. We observed some promising business development also in the region of Eastern Europe, where our sales increased by 11 percent year on year.