Very good year for Asseco Group - record net profit and solid order backlog for coming quarters.
In 2024, the Asseco Group achieved revenues of PLN 17.1 billion (EUR 4.0 billion), of which PLN 13.5 billion (EUR 3.1 billion) were sales of its proprietary IT products and services. Operating profit was 10% higher than in 2023, at PLN 1.8 billion (EUR 416 million). Net profit attributable to shareholders of the parent company, after an 8% increase, reached PLN 520 million (EUR 121 million), a record high. Asseco continued its growth and increased the scale of its international operations, including through acquisitions. Last year, 14 new companies joined the Group.
Asseco's results are very well diversified geographically. In 2024, revenues in the Asseco Poland segment increased by 4% year-on-year and amounted to more than PLN 2.1 billion (EUR 476 million). Activities in this area focused on providing top-quality software and services to support the business continuity of the financial sector, implementing strategic projects for public institutions, as well as continuing work and new projects for the energy and health sectors.
Foreign markets represented by the Formula Systems and Asseco International segments together accounted for 88% of the Group's revenues. Sales of the Formula Systems segment amounted to nearly PLN 11.0 billion (EUR 2.6 billion). Excluding the effect of exchange rate differences, this segment's revenues were 5% higher than in 2023. The Formula Systems Group companies executed contracts in the key areas of cyber security, healthcare or transportation, strengthening their position through organic growth as well as acquisition activity.
In the Asseco International segment, sales stood at PLN 4.1 billion (EUR 961 million), and after excluding the effect of exchange rate differences, revenues were 7% higher year-on-year in 2023. The Asseco South Eastern Europe Group recorded increases last year, mainly in the key area of payments. Sales of ERP solutions in the Asseco Enterprise Solutions Group were also higher. Asseco Central Europe's operating companies in the Czech Republic and Slovakia successfully implemented projects for public institutions, the health care sector and banking by Asseco Central Europe Group companies.
2024 turned out to be a record year for Asseco. We achieved the highest net profit in our more than 30-year history. These results show that the strategy we have adopted, focusing on the development of proprietary software and related services, as well as strong diversification, allows us to grow steadily. In the past period, the Group's results were significantly affected by foreign exchange rates. Excluding this effect, our revenues increased by 6% and operating profit went up by 14%. I believe this is an exceptional success, given the external conditions in which we operate. In 2024, we acquired 14 companies operating on the US, Indian, Portuguese and Israeli markets. Since our IPO on the Warsaw Stock Exchange (WSE) in 2004, more than 150 companies have joined our Group. As a result, today Asseco employs nearly 34,000 people in more than 60 countries on 6 continents, said Adam Góral, CEO of Asseco Poland.
Asseco's consolidated order backlog for 2025, in the area of proprietary software and services, is now worth more than PLN 10.8 billion (EUR 2.6 billion). In fixed exchange rates, in which the backlog for 2024 was calculated, its value is 9% higher than in the same period last year
In 2025, our priority remains to maintain our leadership in digitization in the banking, energy, telecommunications, healthcare and government sectors. We continue to focus on developing our own products and services, expanding our offerings not only to include sector solutions, but also ERP systems, payments and trust services. We are developing competence in the area of cloud services. We have plans for further use of artificial intelligence in our solutions, and ambitions to build a state cyber resilience at every level of operations – both nationwide and at the local government level, added Adam Góral.
Asseco is consistently building shareholder value and sharing the profit it generates with its shareholders. Since its IPO on the WSE, the Company has paid in total more than PLN 3.5 billion in dividends to its shareholders. This year, the Company's Management Board recommended to the General Meeting of Shareholders a dividend payment of PLN 269 million for 2024 (EUR 62 million), which translates into PLN 3.94 (EUR 0.9) per share participating in the dividend payment*.
* Dividend per share, after excluding own shares that do not participate in the dividend.