Financial results of Asseco Group for the 1st quarter of 2013

Asseco Group generated nearly PLN 1.4 billion in sales revenues in the 1st quarter of 2013. Operating profit reached PLN 168 million, while net profit attributable to shareholders of the parent company amounted to PLN 92 million. During the analyzed period, the Group's operating activities provided PLN 224 million of net cash flows.

Sales revenues reached PLN 1,346 million, improving by 6% as compared with the corresponding period of 2012. Operating profit amounted to PLN 168 million, remaining at a comparable level as in the previous year (PLN 170 million). The Group earned a net profit of PLN 124 million, of which PLN 92 million in net profit attributable to shareholders of the parent company.

Asseco consistently pursued its strategy to boost financial results by promoting sales of its proprietary IT solutions. Revenues achieved from proprietary software surpassed PLN 1.06 billion in the 1st quarter of 2013. Also the share of proprietary solutions in total revenues continued to increase, reaching 79% in the 1st quarter of 2013. The Group’s business is well diversified among its individual target sectors: Banking and Finance – 36%, Enterprises – 38%, and Public Institutions – 26%. During the first three months of 2013, Asseco Group signed 1,244 contracts ensuring a stable backlog of orders and projects to be carried out in the coming quarters.

The Group’s orders backlog topped PLN 4.5 million as at 7 May 2013, showing a 7% increase over the year-ago level. The backlog of orders for proprietary software and services reached PLN 3.5 billion, improving by 8% as compared with PLN 3.3 billion presented a year ago.