During the reporting period, the Group expanded its operations both in Poland and abroad. Revenues in the Asseco Poland segment increased by 17% to PLN 1.3 billion (EUR 307 million). The Group continued its efforts related to the digitalisation of public services, including the maintenance and expansion of systems critical to serving citizens. The digitalisation of healthcare also remained a key focus area, supported by funds from the National Recovery Plan (KPO). Asseco also strengthened its position in the banking and financial sector thanks to long-term contracts, stable sales from servicing, and the implementation of development projects.

The Group’s results are highly diversified – with 86% of sales coming from foreign markets represented by the Formula Systems and Asseco International segments. Sales in the Asseco International segment totaled PLN 2.4 billion (EUR 558 million), representing a 9% increase compared to the first half of 2025. The growth driver in this segment was the ERP solutions offered by the Asseco Enterprise Solutions Group. Asseco Central Europe, operating in the Czech Republic and Slovakia, posted very strong results by implementing projects for public administration, healthcare, and banking. Sales also increased in the Asseco South Eastern Europe Group. Thanks to consistent organic growth, supported by acquisitions, the Formula Systems segment recorded revenues of PLN 5.6 billion (EUR 1.3 billion), which is 18% more than in the same period a year ago. Sales at the Matrix IT Group and the Michpal Group grew rapidly.

“We have completed another strong first half of the year, during which the Asseco Group consistently expanded the scale of its operations. A high level of diversification and a significant share of recurring revenues remain key factors supporting the stability of our business. We continue to focus on organic growth, which we complement with selectively executed acquisitions that strengthen our capabilities and presence on local markets. In the first half of the year, six new companies joined the Group, and in the third quarter we finalized three more acquisitions,” said Karolina Rzońca-Bajorek, Vice President of the Management Board and CFO of Asseco Group.

Asseco’s consolidated order backlog for 2026, in the area of proprietary software and services, currently stands at PLN 13.4 billion (EUR 3.1 billion). At variable exchange rates, it is 18% higher, and at fixed exchange rates – the rates used to convert the 2025 backlog – it is 12% higher than in the corresponding period of the previous year.

I would like to sincerely thank you for your participation in the recent Extraordinary General Meeting of Shareholders.

My particular thanks go to those of you who voted in favour of the resolution concerning incentive program for a broad group of at least 95 key managers who, in the years to come, will have a significant impact on the development of the Asseco Group and the creation of its value for our mutual benefit.

Following my transition to the Supervisory Board, I hope to see the organisation managed by individuals whose interests are even more closely aligned with those of its Shareholders. Individuals who, like us, experience the consequences of both good and misguided management decisions, not only through the level of their remuneration, but also through changes in the value of the shares they hold.

My new Business Partners put forward this initiative because, like me, they regard it as an investment and as an effort to safeguard the long-term interests of all Shareholders of our Company.

Once again, thank you for your participation in the Extraordinary General Meeting. Should we present this proposal again – based on new criteria for the award of shares – I kindly ask you to consider it from the perspective of the long-term interests of the Company and its Shareholders.

Thank you for your trust and for your significant contribution to building the Asseco Group – a leading software producer in Europe.

Yours sincerely,
Adam Góral
Founder and President of the Management Board of Asseco Poland

During the reporting period, the Group expanded its operations both in Poland and abroad. Sales revenues in the Asseco Poland Segment increased by 12% to PLN 607 million (EUR 143 million). The segment’s results were supported by Asseco’s involvement in the development of the digital government ecosystem, numerous financial sector transformation projects, and the execution of contracts for nearly half of the hospitals covered by the National Recovery Plan (KPO).

The Group’s results are highly diversified geographically - 86% of sales come from foreign markets represented by the Formula Systems Segment and the Asseco International Segment. Sales in the Asseco International Segment exceeded PLN 1.1 billion (EUR 267 million), representing a 7% increase compared to the first quarter of 2025. Within this segment, the Asseco Central Europe Group recorded revenue growth - particularly for solutions for the public administration sectors in the Czech Republic and Slovakia, as well as ERP systems offered by the Asseco Enterprise Solutions Group. Asseco South Eastern Europe generated strong sales results for core banking solutions. In the Formula Systems Segment, revenue increased by 9% year-over-year to PLN 2.7 billion (EUR 630 million), mainly thanks to the rapidly growing performance of Matrix IT.

“Broad business diversification, strong technological expertise, and proprietary IT solutions remain the foundation of the Asseco Group’s growth. Long-term customer relationships and our presence in strategic sectors of the economy strengthen the resilience of our business model. At the same time, we are expanding the scale of our operations both organically and through acquisitions - in the first quarter of 2026, we completed four acquisitions, strengthening the Group’s position in international markets. We are also expanding our order backlog to support our continued growth in 2026 and beyond,” said Karolina Rzońca-Bajorek, Vice-President of the Management Board and CFO of Asseco Poland.

Asseco’s consolidated order backlog for 2026, in the area of proprietary software and services, currently stands at PLN 12.3 billion (EUR 2.9 billion) and is 21% higher than in the corresponding period a year ago.

Asseco’s results remain strongly geographically diversified. In 2025, the Asseco Poland Segment increased its sales revenues by 12% year-over-year, reaching PLN 2.3 billion (EUR 542 million). Operations in this area focused on delivering advanced software and services supporting the digitalization of the financial sector, implementing key projects for public administration, and strengthening cooperation with clients in the energy and healthcare sectors.

Foreign markets, represented by the Formula Systems Segment and the Asseco International Segment, accounted for a combined 86% of the Group’s revenues. Sales in the Asseco International Segment amounted to PLN 4.6 billion (EUR 1.1 billion), representing a 12% increase compared to 2024. In this segment, revenue growth was recorded at Asseco Central Europe in the Czech Republic and Slovakia, as well as from ERP solutions within the Asseco Enterprise Solutions Group. Sales also increased at Asseco South Eastern Europe. The Formula Systems Segment recorded PLN 9.8 billion in revenues (EUR 2.3 billion), a 12% increase year-over-year. This result was driven, among other factors, by increased sales and the strengthening of the market position of Matrix IT and Magic Software.

In 2025, the sale of a majority stake in Sapiens was finalized, resulting in the Asseco Group’s shareholding – through Formula Systems – decreasing from 43.5% to 18.7% in the new ownership structure, which signifies a loss of control over the company and a change in its accounting treatment in the financial statements. The transaction generated PLN 499 million (EUR 118 million) in net profit attributable to the parent company’s shareholders and retaining the minority stake allows for continued exposure to Sapiens’ future growth.

 “2025 was record-breaking for us – we generated the highest net profit in our 35-year history, exceeding PLN 1.1 billion (EUR 269 million). This is a significant achievement, especially given the challenging and uncertain environment in which we operate. We are consistently implementing our adopted strategy, which remains grounded in the creation and development of top-quality proprietary software for institutions and enterprises operating in key sectors of the economy. It is precisely this model – based on proprietary products, domain expertise, and long-term customer relationships – that defines Asseco’s strength and resilience. We base the Asseco Group’s growth on both organic expansion and acquisitions. We are interested in companies with experienced teams that wish to grow within our Federation model or through integration with Asseco. In 2025, we completed 13 acquisitions. We are paying particular attention to companies in the cybersecurity sector and those offering AI-based solutions, but we remain open to entities that strengthen our capabilities in key sectors,” said Adam Góral, President of the Management Board of Asseco Poland.

Asseco’s consolidated order backlog for 2026, in the area of proprietary software and services, currently stands at over PLN 10.8 billion (EUR 2.5 billion) and is 19% higher than in the corresponding period in the previous year. At fixed exchange rates, the increase amounts to 13%.

“In 2026, we are focusing on further strengthening of Asseco’s position as a leader in digitization across key economic sectors – banking, energy, telecommunications, healthcare, and public administration – as well as on growth in product segments such as ERP systems, payments, and trust services. Our business remains grounded in our proprietary products and technological expertise, which we are systematically expanding. Artificial intelligence is one of the natural directions for building Asseco’s long-term value. We are implementing it both in our products and throughout the entire software development cycle, which enhances our efficiency and the quality of the solutions we deliver. We take a pragmatic approach to AI – as a technology that is meant to genuinely support business and create value for customers,” added Adam Góral.

Asseco consistently builds value for its shareholders and shares its profits with them. Since its IPO on the Warsaw Stock Exchange (WSE), the Company has paid out over PLN 3.8 billion in dividends to its shareholders. This year, the Company’s Management Board recommended to the General Meeting the payment of PLN 1 051 million (EUR 248 million) in a dividend for 2025, which amounts to PLN 13.05 (EUR 3.08) per dividend-eligible share.

The year 2025, which has only recently drawn to a close, proved to be a breakthrough period for Asseco Poland S.A. The consistent execution of the Asseco Group’s development strategy, coupled with significant changes in its shareholder structure – changes that were very well received by the market – translated into a substantial increase in the company’s value. With this in mind, I would like to share with you a brief reflection on the key events of the past year.

In January 2025, a new significant investor joined the group of Asseco's shareholders – the Dutch company Total Specific Solutions (TSS). Under the agreement concluded with TSS, Asseco Poland S.A. sold the treasury shares acquired in a buyback program carried out in 2023. The entry of the new investor and a shared vision for the Company's further development, confirmed by the shareholders’ agreement between TSS and Adam Góral Fundacja Rodzinna (the Adam Góral Family Foundation), became a significant catalyst for the growth of the share price and increased interest in the company from new investors.

In 2025, Asseco’s share price rose by over 130%, reaching PLN 228.40 per share at year-end, which represents an increase in the Company’s market capitalization of more than PLN 11 billion — to PLN 19 billion. At its peak, Asseco’s market value exceeded PLN 21 billion for the first time in its history.

In October, Mr. Ramon Zanders, representing TSS in relation to its investment in Asseco, addressed an open letter to Asseco's Shareholders, outlining the key principles, plans and expectations for the company’s further development. At the same time, he confirmed TSS's long-term approach to investing in the company, based on building lasting value for customers and shareholders, while respecting Asseco's existing organizational culture, values and Polish roots.

The letter placed strong emphasis on the strategic importance of the planned management succession process, ensuring leadership continuity and strengthening the alignment between the interests of key executives and those of the shareholders. It also highlighted priorities related to long-term growth fundamentals, such as the development of recurring revenues, improvement of profitability, capital allocation discipline and generation of stable cash flows.
This long-term vision also included preliminary plans to implement three incentive programs designed to support the succession process and further development of the Asseco Group, while maintaining transparency and protecting the interests of shareholders. The market responded very positively to the new investor's initiative.

In accordance with the adopted assumptions, the objective of the incentive programs is to ensure long-term commitment to the implementation of the Company's development strategy.

The programs aim to permanently bind key managers to the Company, which should directly translate into increased operational efficiency, improved financial results and stability of Asseco's operations. Such solutions are commonly used in publicly listed companies in the technology sector and are the market standard, also among Asseco's competitors in Poland and abroad.

The implementation of incentive programs will support the retention of key specialists whose knowledge, experience and competencies have a significant impact on the development of the Asseco Group and its competitive advantage. The programs have been designed as a broadly scoped tool, addressed to a selected group of mid- and senior-level managers who play a key role in the implementation of the company's operational and strategic objectives.

A special role will be played by the program dedicated to Asseco's founder, Adam Góral – the program's goal is to implement the plan to transfer the management of the Company to Rafał Kozłowski. The continued active involvement of Adam Góral during the transition period is essential to preserving strategic continuity, ensuring effective knowledge transfer and mitigating operational risks at a pivotal time for the company. This program is therefore an integral part of the succession strategy and provides the shareholders with an assurance of continuity in line with Asseco's current development direction.

The shares allocated to participants in incentive programs will come from the pool of the treasury shares previously acquired by the Company on the basis of the authorization of the General Meeting of Shareholders, granted in Resolution No. 5 of the Extraordinary General Meeting of June 15, 2023, or on the basis of other resolutions of the General Meeting authorizing the Company to acquire the treasury shares for the purposes of incentive programs.

Yours sincerely,

Jacek Duch
Chairman of the Supervisory Board of Asseco Poland S.A.

During the reporting period, the Group expanded its operations both in Poland and abroad. Sales revenues in the Asseco Poland Segment increased by 14% and amounted to PLN 1.7 billion (EUR 401 million). The results of this segment were mainly influenced by Asseco's involvement in the development of the digital ecosystem of the state, numerous transformation projects in the energy and healthcare sectors, as well as a stable revenue stream in the area of finance.

The Group's results are highly diversified geographically – 86% of sales come from foreign markets represented by the Formula Systems Segment and Asseco International Segment. Sales in the Asseco International Segment amounted to PLN 3.3 billion (EUR 777 million), which represents a 12% increase compared to the corresponding period in 2024. This segment saw an increase in revenues from banking and payment solutions at Asseco South Eastern Europe, as well as growing interest in modern ERP solutions.  Sales also increased at Asseco Central Europe in the Czech Republic and Slovakia, as well as at Asseco CE Cloud. The Formula Systems Segment recorded revenues of PLN 7.3 billion (EUR 1.7 billion), which is 11% more than in the same period last year*. The result was driven, among other things, by record revenues of Matrix IT and growing sales at Magic Software and the Michpal Group.

We have had three successful quarters in Asseco's operations. Our strong position in strategic sectors of the economy, along with our focus on a strategy built around proprietary software, allows us to effectively grow our business and deliver consistent increases in financial performance. Our revenues, operating profit, and net profit attributable to Asseco Poland shareholders grew at a double-digit rate both cumulatively and in Q3, 2025 alone. We are systematically building our backlog, which allows us to look to the future with optimism. In addition, we are constantly expanding the scale of our business, supporting organic growth with M&A activities,” said Karolina Rzońca-Bajorek, Vice-President of the Management Board, CFO of Asseco Poland.

Asseco's consolidated order backlog for 2025, in the area of proprietary software and services, is currently valued at PLN 12.3 billion (EUR 2.9 billion), which is 12% higher than in the same period last year. All operating segments are growing at double-digit rates: Asseco Poland – by 14%, Asseco International – by 12%, and Formula Systems – by 11%.

In connection with the conditional agreement signed on August 13, 2025, for the sale of a majority stake in Sapiens International by Formula Systems (1985) Ltd to the Advent fund, the operations of the Sapiens Group have been classified as discontinued operations. Detailed information is presented in section 2.11 of the additional explanations to the interim consolidated financial statements of the Asseco Group for the 9-month period ended September 30, 2025.

The ranking includes the largest and most dynamically developing private companies in the country, and Asseco's high position confirms the company's strong position not only in the technology industry, but also in the entire Polish economy.

Asseco's position at the top of the ranking is the result of consistent efforts to develop new technologies and expand internationally. The Asseco Group operates in 65 countries and employs over 34,000 people. The company develops software for key sectors of the economy, including finance, energy, telecommunications, public administration, and healthcare, providing solutions that support the digital transformation of enterprises and public institutions.

The competition jury recognized Asseco for its consistent development of cybersecurity solutions and creation of technologies that support the security of data, institutions, and citizens. The justification has emphasized that Asseco plays a key role in building Poland's digital resilience.

Asseco is a leader in digitization in Poland and the largest IT company in Central and Eastern Europe. For over 30 years, it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 65 countries around the world and employs over 34,000 people.

IDC FinTech Rankings is an annual ranking prepared by the International Data Corporation (IDC) analytical company, which classifies global technology providers in terms of sales generated in the banking, insurance, and financial sectors. The ranking serves as a reference point for financial institutions, identifying key technology partners supporting their digital transformation.

Asseco is a provider of, among other things, core banking systems and omnichannel and mobile solutions that respond to the latest trends in the global financial market. Thanks to its experience and expertise, Asseco has implemented its IT solutions (core banking engine) in over 800 banks. In addition, Asseco offers comprehensive IT solutions supporting the work of brokerage houses and brokerage firms, investment funds, leasing companies, and factoring companies.

During the reporting period, the Group developed its operations both in Poland and abroad. Sales revenues in the Asseco Poland segment increased by 13% and amounted to PLN 1.1 billion (EUR 265 million). In this area, numerous digital transformation projects were implemented for the public administration, energy, healthcare, and finance sectors.

The Group's results are highly diversified – 88% of sales come from foreign markets represented by the Formula Systems segment and the Asseco International segment. Asseco International's sales amounted to PLN 2.2 billion (EUR 513 million), which represents an 11% increase compared to the first half of 2024. This segment saw dynamic growth in revenues from payment solutions in the Asseco South Eastern Europe Group. Asseco also developed the ERP area, focusing on AI and automation. Sales also increased in the Asseco Central Europe Group, which implemented a number of projects for the public and financial sectors. Thanks to consistent organic growth, supported by acquisitions, the Formula Systems segment recorded revenues of PLN 5.8 billion (EUR 1.4 billion), which is 6% more than in the same period last year.

Asseco's consolidated order backlog for 2025, in the area of proprietary software and services, is currently valued at PLN 13.5 billion (EUR 3.2 billion). At variable exchange rates, it is 9% higher than in the corresponding period of the previous year, and at fixed exchange rates – at which the backlog for 2024 was converted – it is 10% higher.

"It was a very good half-year for Asseco. Our geographical, product, and sector diversification of our business, as well as strong demand for digital solutions, allow us to grow steadily. Our revenues grew by 8% during this period, and our operating profit by 13%, which means that our operating profitability was also higher. In addition, we are systematically building up our backlog, which allows us to look forward to the second half of 2025 with optimism in all segments of our business. We are constantly expanding the scale of our business and are active in the area of M&A. In the first half of 2025, 13 companies operating in Europe, Canada, India, and the Middle East joined the Group," said Karolina Rzońca-Bajorek, Vice President of the Management Board and CFO of Asseco Poland.

In February 2025, the Company signed a conditional agreement to sell 12 318 863 of own shares, representing 14.84% of its share capital, to TSS from the Constellation Group. The execution of the sale agreement is subject to obtaining the required approvals in many countries where the Asseco Group and TSS companies operate.

"As we have previously announced, the closing of the transaction is subject to obtaining the relevant approvals from antitrust and regulatory authorities in various countries. Due to the scale of operations of both Asseco and the TSS Group, the procedure involves administrative authorities in several jurisdictions. This is a complex process, further prolonged by the holiday season, when many offices work at a slower pace or are closed. Both parties are actively pursuing the actions within their control to finalize the transaction as soon as possible, but the final closing date depends on the decisions of the relevant institutions and may be postponed. In this case, we see no obstacles related to the extended term of the agreements until all required approvals are obtained," said Marek Panek, Vice President of the Management Board of Asseco Poland responsible for the Group's development.

The company's revenues in 2024 reached PLN 17.1 billion, placing it among the top leaders in the Polish economy. The ranking was based on the financial performance of the country's largest companies, taking into account their revenues and position in key market sectors.

Asseco is present in more than 60 countries and employs 34,000 people. The company's high ranking confirms the effectiveness of its business strategy and the role it plays in building economic stability and innovation in the Polish information technology market.

In addition, Asseco topped the list in key categories such as companies with the highest revenues from sales to large enterprises and groups, to the public administration and uniformed services sector, and to the banking sector. It is also a leader in terms of revenues from maintenance and integration services. These results testify to the successful implementation of the business strategy and a strong position in key market segments.

In Asseco, we are consistently pursuing our chosen growth strategy, we are an IT company with strong foundations. Our priority remains the production of the highest quality proprietary software for institutions and companies in key economic sectors. In the past year, we worked intensively to strengthen our market position in each of the business segments in which we operate, said Adam Góral, President of the Management Board of Asseco Poland. We definitely favor the need to digitize our world. This direction of change is constantly accelerating, and we are helping it, he added.

Sustainable development in practice - AssecojestEko

Asseco consistently implements activities that promote climate protection and popularize pro-environmental attitudes. In 2024, the company joined the tree-planting initiative with Posadzimy.pl, under which it planted 300 seedlings in the Przemyśl district. Ultimately, they will create a 333 m² forest that will absorb 1,800 kg of CO₂ per year and produce enough oxygen for more than 200 people.

How many trees the company will ultimately fund depended on the Asseco Sports Challenge. This is an annual sports competition among employees that aims to motivate them to bike and walk and run. Asseco, by engaging in the Posadzimy.pl project and continuing the Asseco Sports Challenge, achieved two environmental goals. It motivated employees to be physically active, so that for two months they covered 74,237 kilometers on foot and 172,665 kilometers on bicycles. By choosing biking or walking instead of public transportation and the car, they saved 1.6 tons of CO₂. In addition, for each employee who covered a total of 200 km in the Challenge and maintained activity in each month of the Challenge, Asseco planted a tree.

We help - Asseco employees provide real help

The second initiative highlighted in the report is the "We help" project - Asseco's proprietary charity program, in which employees independently identify those in need and the forms of support. The company's budget finances activities for orphanages, single mother's homes, hospices or aid foundations.

An important element of the program is personal involvement - employees offer their time, knowledge and direct assistance. Since the beginning of the project, Asseco has donated nearly PLN 2 million in aid, and thanks to the initiative, more than 6,000 children have received support. Already 2,000 employees from all over Poland have become involved in the campaign.

Confirmation of long-term commitment

The inclusion of Asseco's projects in the Responsible Business Forum's report is not only an honor, but also a confirmation of the effectiveness and authenticity of the company's activities for sustainable development, the environment and local communities. Asseco continues its mission as a responsible company - not only technologically, but also socially.

Asseco provides advanced systems for uniformed services and international institutions. It has completed more than 70 projects for the EU and NATO and meets the highest security standards. The company's key solution is the CSD EP System Client, a reconnaissance data exchange system integrated with ArcGIS Pro to analyze and share information according to NATO standards. The system was successfully tested during the NATO CWIX exercise and has been accredited for operation on a classified network.

Security is not just technology - it is a responsibility to state institutions and citizens. We have been developing Polish technological solutions for more than 30 years, and I am pleased that our work has been recognized and awarded the "Safety Innovator" prize. This award is confirmation that our solutions, such as the CSD EP System Client, strengthen defense capabilities and interoperability within NATO. I would like to thank very much both the chapter and our entire team, which is committed to developing these innovations, said Andrzej Dopierała, Vice President of the Management Board of Asseco Poland, responsible for the area of International Organizations and Security Sector Solutions.

The "Diamond Shields" competition is an event that brings together leading experts, leaders and innovators who contribute to strengthening state protection, raising security standards and developing modern defense technologies. The competition also supports community engagement and strategic initiatives for the country's stability and resilience in the face of modern threats.

The Asseco Group is the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key economic sectors. The Group, which is a federation of companies operating in more than 60 countries around the world, is headed by Asseco Poland, which was one of the first startups founded in Poland. Karolina Rzońca-Bajorek has been the vice president of Asseco Poland since 2021. As the Chief Financial Officer (CFO), she is responsible for the Company Finance Division and the Asseco Group Finance Division, as well as the Shared Service Center Department.

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, concluded Adam Góral, CEO of Asseco Poland.

Asseco is also the largest IT company in the Central and Eastern European region. It has been developing technologically advanced software for companies in key economic sectors for more than 30 years.

In compiling the "List of the 200 largest Polish companies," the editors of Wprost weekly based the revenue of a given company for 2023.

Asseco is the largest software manufacturer in Central and Eastern Europe, and its IT solutions support key sectors of the economy. The title of "Polish Ambassador" honors the company's many years of consistent foreign expansion and building a strong global brand originating in Poland.

In 2024, the Asseco Group reached PLN 17.1 billion in sales revenues, 88 percent of which were foreign sales. The Group has been growing organically as well as through acquisitions. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

In 2024, we acquired 14 companies operating in the US, Indian, Portuguese and Israeli markets. Since our IPO on the Warsaw Stock Exchange 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, President of the Management Board of Asseco Poland.

The "Polish Ambassadors" ranking aims to identify companies that are not only financially successful, but also promote a positive image of Poland and strengthen its position in the global economy.

The award was given for his significant contribution to the development of relations between the two countries, his support for Slovak business and his commitment to helping the country's citizens. Minister Blanár noted at the ceremony: "People honored today come from different backgrounds, but each of them has been able to find something unique in their work that they have passed on to Slovakia - and for that they deserve our gratitude."

While serving as the Honorary Consul of Slovakia, Adam Góral acted with full commitment to the cooperation between Poland and Slovakia - both in the diplomatic and economic spheres. It was with the merger with the Slovak company that the construction of the international Asseco Group began, which now operates in more than 60 countries. Slovakia is also home to the headquarters of Asseco Central Europe (ACE) and Asseco International.

The medal was presented in Bratislava at a ceremony at which other distinguished representatives of the world of diplomacy, culture and sports were also honored.

Adam Góral has confirmed his position as one of the top leaders in the Polish financial market. Under his leadership, the Asseco Group achieved record financial results in 2024, recording the highest ever net profit of PLN 520 million and revenues exceeding PLN 17 billion. The record results translated into a significant increase in the company’s share price on the Warsaw Stock Exchange (WSE). A strategy based on sector and geographic diversification, as well as consistent investments in the development of proprietary software and digital services, strengthened the company's position as the largest IT provider in Central and Eastern Europe.

Adam Góral actively supports the development of the Polish capital market, serving as the chairman of the Issuers' Council at the WSE. As an opinion leader, he regularly participates in public debates, sharing his knowledge and experience on digitization, cyber security and the role of technology in the financial sector. His vision and activities contribute to the formation of a modern, innovative financial market in Poland. He is an important promoter of the capital market among current and potential issuers.

"List of 25 Aces of the Polish financial market" is an initiative that aims to honor business leaders distinguished not only by the effectiveness of their actions, but also by their ethical approach to management and real impact on the economic development of the country.

In 2024, the Asseco Group achieved sales revenues of PLN 17.1 billion, of which PLN 13.5 billion were sales of its proprietary IT products and services. Operating profit was 10% higher than in 2023, at PLN 1.8 billion.
The "500 List" ranking is a list that presents the largest companies by revenue value. Asseco once again maintained its leadership in the technology sector for a consecutive year, which demonstrates the company's steady growth and strong market position.

In 2025, our priority remains to maintain our leadership in digitization in the banking, energy, telecommunications, healthcare and public administration sectors. We have plans for further use of artificial intelligence and ambitions to build the country's cyber resilience, said Adam Góral, CEO of Asseco Poland.

Asseco operates in more than 60 countries with 34,000 employees. For more than 30 years it has been developing technologically advanced software for companies in key economic sectors

The Group's results are highly diversified, with 88% of sales coming from foreign markets represented by the Asseco International and Formula Systems segments. Sales revenues in the Asseco Poland segment increased by 7% and amounted to PLN 544 million (EUR 130 million). Sales of the Asseco International segment stood at PLN 1.1 billion (EUR 253 million), up 11% from Q1 2024. The higher revenues in this segment are the result of increased sales of financial solutions within the Asseco South Eastern Europe Group, higher sales to the public sector by Asseco Central Europe companies in the Czech Republic and Slovakia, as well as good sales performance of ERP solutions consolidated under the Asseco Enterprise Solutions Group. The Formula Systems segment, in turn, generated PLN 3.0 billion (EUR 715 million) in revenues - this represents a 7% increase over the same period in 2024. Matrix IT, Sapiens International and Magic Software reported good results, in reporting currencies.

Asseco's consolidated order backlog for 2025, in the area of proprietary software and services, is now worth PLN 12.3 billion (EUR 2.9 billion). It is 10% higher in variable exchange rates and 12% higher in fixed exchange rates - in which the backlog for 2024 was calculated - than in the same period a year ago.

"This is another successful period for Asseco. The Group's stable growth is based on broad diversification of operations - both in terms of product offerings, sectors served and geographic reach. Long-term customer relationships and a significant share of recurring revenues strengthen the resilience of the business and allow Asseco to grow effectively and generate growth at every level of the profit and loss statement. We continue to increase the scale of our operations and are active in M&A. In Q1 2025, 8 companies joined the Group, operating in the Polish, Israeli, Spanish, Egyptian, and US markets. We also have good prospects and backlog for the whole of 2025 in all segments of our business," said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

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.

As the editors pointed out, Adam Góral is the creator of one of Poland's biggest startup success stories. He started in 1991 with a team of three people. Now Asseco is the largest IT company in the Central and Eastern European region. It is present in more than 60 countries around the world and employs 34,000 people. Adam Góral has repeatedly emphasized that people are the key to success - "If you start thinking that you are the architect and guarantor of success, you have already lost.... You will be only strong with the team you create," he said.

Adam Góral is also an important figure for the development of the capital market. He serves as the Chairman of the Issuers' Council under the president of the Warsaw Stock Exchange (WSE).

For more than 30 years, the editors of Gazeta Giełdy i Inwestorów "Parkiet" have been rewarding individuals and institutions that have made a special contribution to the development and promotion of the Polish financial market. Distinction in the "Capital Market Personality" category is one of the awards, given for exceptional achievements and positive impact on the market environment.

The basis of IR is communication and people, because, as the name suggests, "relations" are the most important. Open and regular communication with investors and the wider market is first and foremost our foundation. For more than 20 years, Asseco's IR team has been building trust based on the reliability and transparency of information provided to investors, said Artur Wiza, Vice President of Asseco Poland.

Asseco was also rated well by institutional investors, who gave the company 4.55 points (the average for this category was 4.1 points). This market perception shows that Asseco invariably listens to the expectations of its investors. The company's team not only provides them with key information, but also systematically collects their feedback and comments. Asseco participates in industry conferences, organizes result meetings, investor chats and actively conducts social media communications.

Our goal is to conduct IR at the highest level - in a transparent, open and customized manner for each investor. This is an ongoing process and our communication is carried out continuously, regardless of working hours or day of the week, because investors are in different countries and time zones, concluded Artur Wiza.

TSS has entered into a shareholder agreement with the Adam Góral Family Foundation to collaborate on the further development of Asseco Group. The involvement of a significant European partner and industry investor will accelerate growth and enable further expansion of Asseco Group's business operations.

On January 31, 2025, TSS acquired 8,300,029 shares of Asseco Poland from Cyfrowy Polsat, representing 9.99% of the company’s capital, at a price of PLN 85 per share.

On February 4, 2025, Asseco Poland signed a conditional agreement to sell 12,318,863 treasury shares to TSS, representing 14.84% of the company’s capital. These shares were acquired by Asseco Poland through a share buyback program in 2023. The sale price was set at PLN 85 per share. Upon completion of both transactions, TSS will hold 20,618,892 shares of Asseco Poland, representing 24.84% of the company’s capital.

Adam Góral, through the Adam Góral Family Foundation, holds 8,310,000 shares, representing 10.01% of the company’s capital.

“The offer from the Dutch-origin company TSS, operating within the Topicus.com and Constellation Software, was very well received not only by the majority of our investors but also by Asseco’s management and myself.”— Adam Góral, CEO of Asseco Poland

“Our groups are built through acquisitions, and companies operate within a federated model. I chose to partner with TSS because I believe that in a time of increasing dominance by global software giants, only capital consolidation among major European companies provides an opportunity to create teams that, in the coming years, can effectively compete for greater market share.”

Strategic Shareholder Agreement Between Asseco and TSS

TSS’s acquisition of Asseco Poland's treasury shares will also trigger the implementation of the shareholder agreement between Asseco Poland’s shareholders, namely the Adam Góral Family Foundation and TSS.

The agreement outlines shareholder cooperation, including joint voting rules at the General Meeting on key company matters. The partnership ensures the continued execution of Asseco’s strategy, focused on developing proprietary software and services while expanding through acquisitions.

Under the shareholder agreement, TSS has committed not to increase its stake beyond the agreed limit after the completion of both transactions.

Asseco Poland will remain a publicly traded company listed on the Warsaw Stock Exchange, with Adam Góral continuing as CEO, leading the existing management team.

“The shareholder agreement we signed significantly increases the likelihood of further value growth for all Asseco shareholders while providing broad development opportunities for employees and management. The agreement reflects TSS’ commitment to supporting operational independence while ensuring that the values my teams upholds - honoring commitments to our clients - remain a shared priority for both myself and my partners.

— Adam Góral, CEO of Asseco Poland

Key Objectives of the Shareholder Agreement:

• Ensuring ownership, operational, and management stability to execute Asseco’s long-term development vision.
• Achieving ambitious business and financial goals while maintaining Asseco’s status as a dividend-paying company.
• Supporting the succession process, with Adam Góral transitioning to the Supervisory Board and Vice President Rafał Kozłowski taking over as CEO.
• Implementing a management incentive program to support long-term stability and the achievement of strategic business objectives.

According to the agreement, TSS will not exceed a maximum 27.96% stake in Asseco’s share capital.

About Total Specific Solutions (TSS)

TSS is a leading European software group from the Netherlands, specializing in software solutions for vertical markets (VMS).

TSS’ strategy is for a large part modelled after Constellation Software (“CSI”), a publicly traded investment firm on the Canadian stock exchange which holds a controlling vote in TSS’  parent company Topicus.com. Much like CSI, TSS is focused on acquiring vertical market software companies with strong customer bases and market positions.

"We value Asseco Group's achievements and growth over the years, hence our decision to become an investor. We appreciate the potential of the Asseco Group - it is the largest player in the Polish market with an extensive footprint in other CEE markets. The Group has a clear vision for further strengthening its position in its geographies. Our approaches to operating successful software companies are like-minded - we have a similar decentralized organizational structure with ownership close to the market and focus on bringing our customers added value. Asseco's strategy and achievements are a good match with our long-term strategy.

We believe that together with Adam Góral, Rafał Kozłowski, and the rest of the management team, we have a unique opportunity to support each other and continue to create long-term value for shareholders and other stakeholders.  Together, we will build a partnership of two strong European IT Groups based on perpetual ownership, decentralized governance, and client centricity." – says Ramon Zanders, TSS Group CEO.

Poland’s Digital Leader in Europe

As a leading Polish provider of IT solutions for various sectors of the economy, Asseco Poland is a trusted and reliable partner. While the company primarily serves clients in Poland, its group subsidiaries deliver products and services to customers in numerous countries worldwide.

“TSS is undoubtedly one of the leading software groups in Western Europe, while Asseco is the leader in Central and Eastern Europe, the Balkans, and Israel. Companies within both groups will have the opportunity to expand their product offerings and gain access to new markets.” — Adam Góral

“After deep reflection, I have no doubt that this partnership will bring significant benefits to customers of both groups, their shareholders, and all employees. It is also worth emphasizing that we will continue implementing our business strategy based on two fundamental pillars: the development of proprietary software and related services, and scaling operations through acquisitions. Asseco is a Polish company, we will remain publicly traded, our headquarters will stay in Rzeszów, and we will continue paying taxes in Poland.”

Asseco’s Growth Through Acquisitions

Asseco grows both organically and through acquisitions of companies with similar profiles. Thanks to this strategy, Asseco is Poland’s largest IT company, providing software to tens of thousands of clients in over 60 countries worldwide.

Succession in a Polish Tech Company

In 2023, Adam Góral designated Rafał Kozłowski as his future successor. Kozłowski currently serves as Vice President of Asseco, having previously held various management positions within the Asseco Group for many years.

Góral has clearly stated that after Kozłowski assumes the CEO position, he intends to remain involved in the company and continue to support its growth as Chairman of the Supervisory Board.

The collaboration between Adam Góral and TSS is intended to facilitate the succession process and ensure Asseco’s continued dynamic growth.

About Asseco Group

Asseco is the largest IT group in Poland and the Central and Eastern European region.

For over 30 years, it has been developing advanced software solutions for enterprises and institutions across key economic sectors.

The company employs nearly 34,000 people and operates in over 60 countries worldwide. It expands through organic growth and acquisitions.

Asseco’s subsidiaries are publicly traded on the Warsaw Stock Exchange (WSE), NASDAQ, and the Tel Aviv Stock Exchange (TASE).

Asseco has finalized the acquisition of a 51 percent stake in Toruń-based Infocomp, which specializes in advanced IT and process outsourcing services for hospital systems. A team of 80 specialists provides 13 hospitals using Asseco AMMS+ and Infomedica+ systems with continuous and comprehensive services (outsourcing). In total, Infocomp provides services to dozens of healthcare clients.

The strategic goal of Asseco's investment is to develop outsourcing services and increase the use of the company's software in the healthcare sector.

Asseco has been cooperating with many companies from the health sector and supporting the development of an ecosystem of partner organizations in the area of hospital IT. At the same time, we intend to strengthen and stimulate the creation of new categories of services and products. Both our own and of our partners - said Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland. The acquisition of Infocomp is intended to support our efforts to develop outsourcing services for the rapidly progressing digitization of hospitals - he added.

Asseco is one of the largest providers of hospital management IT solutions in the Polish market. The company currently works with more than 450 hospitals across the country. Operations in this sector are supported by dozens of partner companies. The cooperation includes implementation and maintenance of several hundred installations of hospital systems.

“Vectors of 35 years” are unique awards given to individuals and organizations that over the years have changed the Polish reality in an innovative way, setting new directions of development in business, science, media and social activities. The winners are selected by a chapter composed of recognized authorities in business, science and NGOs, which attaches particular importance to the transparency and objectivity of the selection process. "Vectors" are granted by Employers of Poland since 2002. They honor individuals and companies whose achievements significantly contribute to the development of the Polish economy. Every year the chapter awards visionaries, leaders and innovators whose work and commitment change the face of Polish business and set the directions of development for entire industries.

The final result of the managerial competence sub-ranking was influenced by awards and prizes, as well as assessments by experts working with SEC Newgate CEE (agency consultants, stock market analysts, capital market journalists). The rating scale ranged from 1-10.

The SEC Newgate ranking: "Valuation of CEOs of #TOP30 of the Polish stock market" shows that the quality of leadership translates into concrete stock market results. This year's eighth edition of the list is not only an analysis of the value of managers, but also a diagnosis of the strength of the Polish capital market and its leaders.

I'm pleased that we were able to produce such good results despite the difficult economic environment and the tense geopolitical situation. This shows that uncertain times call for an increased role for digitization, with a special focus on cloud solutions, cyber security or artificial intelligence. It remains our priority to provide the highest quality proprietary software to institutions and companies in key sectors of the economy, said Adam Góral, CEO of Asseco Poland.

"List 2000" is an annual compilation of the largest Polish companies. Asseco is the leader among IT companies in this ranking for another year in a row.

During the reported period, the Group developed its operations both in Poland and abroad. Sales revenues in the Asseco Poland segment increased by 5% and amounted to PLN 1.5 billion (EUR 347 million), mainly thanks to higher sales in the finance area and the strengthening of the strategic position in solutions for public institutions.

The Group's results are strongly diversified, with 88% of sales coming from foreign markets represented by the Formula Systems and Asseco International segments. Sales of the Asseco International segment amounted to PLN 2.9 billion (EUR 685 million), which, excluding the effect of exchange rate differences, represents an increase of 8% compared to the three quarters of 2023. The segment's higher revenues resulted from increased sales in the Asseco South Eastern Europe Group, mainly in the area of payments, as well as higher sales of ERP solutions in the Asseco Enterprise Solutions Group. The Formula Systems segment, in turn, recorded PLN 8.2 billion (EUR 1.9 billion) in revenues. Excluding the effect of exchange rate differences, this represents an increase of 6% compared to the same period in 2023. The Formula Systems Group companies are growing steadily and remain active in the area of acquisitions.

Asseco's consolidated order backlog for 2024, in the area of proprietary software and services, is now worth PLN 13.2 billion (EUR 3.1 billion). In fixed exchange rates, in which the backlog for 2023 was calculated, it is 10% higher than in the same period a year ago.

"We achieved good financial results for the three quarters of this year, which are the consequence of consistent implementation of our growth strategy, based on geographic, product and sector diversification. Excluding the effect of changes in exchange rates, our revenues grew by 6% during the period, and operating profit by 16%. We continue to increase the scale of our business and are active in M&A. Since the beginning of 2024, 11 companies have joined the Group, operating in the Israeli, American and Portuguese markets, as well as in India and the United Arab Emirates, among others. In addition, we are steadily building the backlog, which allows us to look with optimism for the whole of 2024 and further into the future," said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

Several hundred Polish companies were selected for the awards. The main criteria that guided the editors in selecting the winners were building a company from scratch in a free market economy, creating a product recognized abroad, operating in dozens of markets, as well as the condition of the company.

As emphasized in the justification for choosing Asseco - the company's history began with Adam Góral's dream to build a Polish IT company in Rzeszów. This dream has surpassed all expectations of its creator, as the Podkarpackie region is now home to the IT giant, which today operates in more than 60 countries and employs more than 33,000 people.

At Asseco, we are committed to high quality communication with the capital market community, and periodic reporting is one of its key elements. The periodic reporting obligation is regulated by law, but the way listed companies implement it has a significant impact on building trust and relations with the market. The transparent structure of the reports, the fair presentation of the financial and business situation, and the transparent communication of corporate governance principles are elements that are particularly appreciated by the recipients of our reports. We are pleased that our efforts have been recognized by the jury of ‘The Best Annual Report’ competition, said Rafał Obodziński, Director of Reporting Department, Asseco Poland, who received the award on behalf of the company.

This is yet another honor received by Asseco Poland in "The Best Annual Report" competition. Last year, the Accounting and Tax Institute awarded Asseco the best corporate governance statement among private companies.

"The Best Annual Report" is a competition for the best annual report in terms of value for shareholders and investors. Its main goal is to shape good practices in reporting by public companies, which enhances the security of the capital market in Poland.

"The Best Annual Report" awards are given to companies in the regulated market that prepare consolidated annual reports according to IFRS/IAS and companies in the alternative market that report according to IFRS/IAS or the Accounting Act. The results of this year's competition were announced at the final gala, which took place on October 10, 2024 in the Quotation Room of the Warsaw Stock Exchange (WSE) building.

Asseco's annual report for 2023 can be found at the link: 2023 - Asseco Poland S.A. - Investor Relations Center.

During the reported period, the Group developed its operations both in Poland and abroad. Revenues in the Asseco Poland segment increased by 2% and amounted to PLN 992 million (EUR 230 million), mainly thanks to growing sales in the area of solutions for finance and solutions for public institutions.

The Group's performance is highly diversified, with 88% of sales coming from foreign markets represented by the Formula Systems and Asseco International segments. Sales of the Asseco International segment amounted to PLN 1.96 billion (EUR 454 million), which – excluding the effect of exchange rate differences – represents an increase of 8% compared to H1 2023. The segment saw increased sales in the payments area of the Asseco South Eastern Europe Group. Revenues of ERP solutions in the Asseco Enterprise Solutions Group also increased. The Formula Systems segment, in turn, recorded revenues of PLN 5.47 billion (EUR 1.27 billion) – excluding the effect of exchange rate differences, this represents a 6% increase versus the corresponding period in the previous year. Good results, in reporting currencies, were reported by Matrix IT and Sapiens International.

Asseco's consolidated order backlog for 2024, in the area of proprietary software and services, is now worth PLN 12.4 billion (EUR 2.9 billion). In constant exchange rates, in which the backlog for 2023 was calculated, it is 7% higher than in the same period last year.

This is a very good half-year period for Asseco. Our geographic, product and sector diversification of business and strong demand for digital solutions allow us to grow steadily. Excluding the effect of exchange rate fluctuations, our revenues grew by 6% and operating profit by 11% during this period. In addition, we are gradually building the backlog, which allows us to look ahead to the second half of 2024 with optimism. We are consistently implementing our M&A strategy. Since the beginning of 2024, 7 companies have joined the Group (3 in the first half of the year and 4 in the third quarter of 2024), operating in the markets of Israel, the US, Portugal, as well as India and the United Arab Emirates, among others – said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

The company has achieved its highest revenues in the sectors of the following services: maintenance, integration, cloud computing and application implementation. It is also a leading supplier to the public administration and uniformed services, banking, and large companies and enterprises.

We strive to reach out to new organizations that need modern solutions or want to modernize their systems. We are focused on long-term and comprehensive cooperation. For our existing customers, we are constantly improving existing products and creating new tools to help increase digitization. We are also open to acquisitions; we are especially interested in companies with good products that solve specific customer problems, said Rafał Kozłowski, CEO of Asseco Enterprise Solutions.

Asseco has unveiled the Polish CSD EP System Client solution. The system enables intelligent data exchange and analysis within the NATO coalition, allowing rapid sharing of reconnaissance information such as satellite images, reports, maps and drone videos. During the exercise, it was confirmed that the Asseco solution meets NATO standards as defined in STANAG 4559 (a standardization agreement for North Atlantic Alliance member countries). In addition, it is integrated with ESRI state-of-the-art ArcGIS Pro analytical software, allowing military analysts to perform complex data searches, analysis and publication of work results within a single application. During last year's CWIX exercise, the CSD EP System Client passed verification after file data testing. This year, experts focused on testing the transmission, reception and processing of video data. They focused primarily on tasks related to streaming video data from unmanned aerial vehicles (UAVs), a key component of today's battlefield.

Polish innovation for Alliance troops

Our software provides the armies of any Alliance country with access to reconnaissance data present on NATO CSD (Coalition Shared Data) servers regardless of which CSD server the country uses, said Anna Protasowicka, Sales Director, Asseco Poland. The CSD EP System Client solution has been positively verified during the CWIX 2024 exercise for cooperation with server software from different manufacturers. This functionality sets it apart in the international market, where there are few products of this type. The integration of the CSD EP Client with analytical software allows the entire analytical process to be carried out: from searching for data, to downloading it to a workstation, to sharing the results of analytical work, she added.

Largest CWIX exercise in NATO history

The annual Coalition Combat Interoperability Exercise is designed to improve the Alliance's military capabilities. They are attended by representatives of NATO member states, including engineers, scientists and representatives of the uniformed services and suppliers to the sector. During them, solutions for information exchange in operational activities are tested and validated. This year's edition was the largest ever held. In three weeks, some 490 solutions underwent 26,000 tests.

As a result of the successful testing, our software is in high demand and we expect it to be implemented by NATO countries, Anna Protasowicka concluded.

Asseco is a recognized provider of solutions for the Polish uniformed services, operating intensively in the global market. The company has gained its previous experience, among others, in cooperation with institutions and agencies of the European Union (FRONTEX, ESA and EDA) and NATO, for which it has completed a total of more than 70 projects. Asseco meets the highest standards of both data protection and classified information protection, which is confirmed by the security certificates the company holds.

For more information, visit: https://asseco.pl/csd

Asseco develops high-tech software for companies in key economic sectors. The company is present in nearly 60 countries around the world and employs more than 33,000 people.

I always say that our great value is our people. I am very fortunate to have a committed team with whom I work. They are experts, specialists who understand our mission, as well as our corporate culture. We started the company with three people, today there are more than 30,000 of us. These 33 years have changed us a lot, and have shown that we really can reach for the stars, however, we will not be able to do it alone, said Adam Góral.

"The 1000 Largest Companies in Poland" is a report that has appeared in the pages of "Gazeta Finansowa" for more than 20 years. It summarizes the history of Polish entrepreneurship and the many events that have shaped the market.

Among other things, Asseco is the largest producer of custom software and a provider of cloud services. The company is a key IT partner for large companies and corporations as well as public administration. In addition, it is the largest provider of IT solutions and services to the financial and insurance sectors. The company has maintained its leadership position in the category of service providers and Business Intelligence, Big Data and Data Discovery systems. Asseco is also the IT company with the highest R&D spending. In 2023 alone, it allocated more than PLN 554 million for this purpose.

The year 2023 was one of the best periods in our business. Despite exceptional external conditions, we achieved the second highest net profit in our more than 30-year history. This shows that the strategy we have adopted, focusing on proprietary software production and related services, is the right direction, guaranteeing stable development, concluded Adam Góral, President of Asseco Poland.

Computerworld TOP 200 is the largest and most detailed report on the state of Polish ICT. The preparation of the material involves a process of analyzing and compiling data of several hundred companies.

Asseco has been developing technologically advanced software for companies and institutions in key economic sectors for more than 30 years. It is present in nearly 60 countries around the world and employs more than 33,000 individuals. The award, granted by the editors of IT Reseller magazine, is another confirmation of Asseco's position as a leader in digitization in Poland, according to the Computerworld TOP200 report, among others.

Faced with the growing expectations of citizens and the challenges of public administration efficiency, the City of Piaseczno has decided to take the revolutionary step of fully digitizing official correspondence. In cooperation with Asseco, which is the supplier of the tax system used at the Office, a solution for handling digital correspondence - MKO365 - was introduced. It enables automation and mass handling of correspondence.

The project was a response to the need to increase the efficiency of the office, improve data security and provide a higher standard of service to residents. The introduction of e-Delivery has enabled the city not only to speed up the process of delivering tax decisions, but also to significantly reduce the costs associated with traditional paper mailing. In addition, the project was implemented almost a year before the introduction of the new legislation, which allowed the city to stay ahead of the expected requirements and position itself as a leader in local government innovation in Poland, said Jakub Buczyło, Director of the Customer Service Division, Asseco Data Systems S.A.

This year the "Innovative Local Government" competition was organized for the fifth time. The purpose of the initiative is to recognize municipalities, districts and voivodeships for implementing innovative projects that can inspire other local government units. The best are chosen by a jury composed of representatives of the editorial staff of the Polish Press Agency (PAP), the Warsaw School of Economics (SGH) and the Union of Rural Municipalities of Poland, the Union of Polish Cities, the Union of Polish Towns, the Union of Polish Metropolises, the Union of Polish Counties and the Union of Voivodeships of Poland.

During the reported period, the Group developed its operations both in Poland and abroad. Sales revenues in the Asseco Poland segment increased by 11% and amounted to PLN 509 million (EUR 118 million). Sales of solutions for finance grew most dynamically – by 19%. Asseco also continued its cooperation and entered into new contracts with institutions in the public sector, which resulted in a 9% increase in revenues in this area.

The Group's performance is highly diversified, with 88% of sales coming from foreign markets, represented by the Formula Systems and Asseco International segments. Sales of the Asseco International segment amounted to PLN 955 million (EUR 221 million). Excluding the effect of exchange rate differences, this represents an increase of 5% compared to Q1, 2023. The segment saw increased sales of payment and banking solutions in the Asseco South Eastern Europe Group. The ERP area, represented by the Asseco Enterprise Solutions Group, also grew organically. In turn, the Formula Systems segment recorded revenues of PLN 2.8 billion (EUR 648 million), which increased by 9% after excluding the impact of exchange rate differences. Sapiens International and Matrix IT reported very good results, in reporting currencies.

Asseco's consolidated order backlog for 2024, in the area of proprietary software and services, is now worth PLN 11.2 billion (EUR 2.6 billion). At fixed exchange rates, at which the backlog for 2023 was calculated, it exceeds PLN 11.9 billion (EUR 2.6 billion) and is 7% higher than in the corresponding period in the previous year.

This is another very good period for Asseco's business. Strong business diversification at the level of products, sectors and geographic markets, as well as long-term relationships with customers and a high share of recurring revenues ensure stable growth for the Asseco Group. Excluding the effect of exchange rate fluctuations, our revenues grew by 8% and operating profit by 13% during this period. We also have good prospects and backlog for the whole of 2024 in all our business segments. Revenue dynamics were the highest in the Asseco Poland segment. We are seeing very good sales results in Poland for solutions for finance or public institutions. The Formula Systems Group is successively strengthening its position in Israel, North America and Europe. The first quarter of 2024 was also good for the Asseco International segment, which intensively developed sales of ERP solutions, payment systems and banking software during this period, said Karolina Rzońca-Bajorek, Vice President of the Management Board, CFO of Asseco Poland.

Asseco's results are very well diversified geographically. In 2023, foreign markets represented by the Formula Systems and Asseco International segments together accounted for 88% of the Group’s total revenues. The sales of the Formula Systems segment amounted to PLN 10.9 billion (EUR 2.4 billion), with operating profit of PLN 906 million (EUR 200 million). In the Asseco International segment, revenues amounted to PLN 4.1 billion (EUR 896 million), and operating profit – after a 12% increase – reached PLN 456 million (EUR 101 million). In turn, the sales of the Asseco Poland segment increased by 13% to nearly PLN 2.0 billion (EUR 434 million), and operating profit amounted to PLN 264 million (EUR 58 million).

"2023 was another very good year for Asseco. Foreign exchange rates had a significant impact on the Group's performance during this period. Organically, we grew steadily – our revenues increased in fixed exchange rates by 5%, and operating profit went up by 6%. We achieved the second highest net profit in our more than 30-year history. We continue to consistently implement the chosen strategy, focusing on software production and proprietary services, as well as strong diversification. I am pleased that we have been able to produce such good results despite the difficult economic environment and the tense geopolitical situation. This shows that uncertain times call for an increased role for digitization, with a particular focus on cloud solutions, cyber security or artificial intelligence. Our priority remains to provide the highest quality proprietary software to institutions and companies in key economic sectors. In the past year, we worked hard to strengthen our market position in each of the business segments in which we operate. In 2023, we acquired 7 companies operating in Portugal, Slovenia, Bosnia and Herzegovina, Poland, as well as the Israeli market. Since our IPO on the Warsaw Stock Exchange in 2004, more than 135 companies have joined our Group. As a result, currently Asseco employs over 33,000 people in 60 countries on 6 continents," said Adam Góral, President of the Management Board of Asseco Poland.

Asseco's consolidated order backlog for 2024 in the area of proprietary software and services, is now worth more than PLN 10.2 billion (EUR 2.4 billion). In fixed exchange rates, in which the backlog for 2023 was calculated, it exceeds PLN 11.1 billion (EUR 2.4 billion) and is 14% higher than in the corresponding period last year.

"Since the start of the war in Ukraine, we have been facing an increased risk and number of cyber attacks. That is why it is so important to build the state's cyber resilience at every level of operations – both nationwide and as far as the local government is concerned. As a provider of solutions for a number of public institutions and businesses, we will continue to take an active role in securing IT systems, as well as helping to adapt infrastructure and security procedures to the new realities," added Adam Góral.

"One of our ambitions remains the cloud services market and active participation in this fast-growing area of the IT sector. In addition to our proprietary software and the construction of cloud resources within the framework of Asseco Cloud, we cooperate with the world's largest public cloud providers. Ahead of us is another year in which we will be working on the implementation and development of artificial intelligence applications. The goal is to make advances that we have not yet experienced. We have a huge opportunity to revolutionize many aspects of our lives. In particular, it is worth mentioning health care, public administration, the manufacturing sector or services. Used wisely, artificial intelligence will also contribute to increasing the level of cyber security by accelerating the detection of potential threats," emphasized Adam Góral.

Asseco has been consistently building shareholder value and sharing its profit with shareholders. This year, the company's Management Board recommended to the General Meeting of Shareholders that a dividend of PLN 250 million (EUR 58 million) be paid for 2023, which translates into PLN 3.66 (EUR 0.8) per share participating in the dividend payment*.

* Dividend per share, after excluding own shares that do not participate in the dividend.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. The company is present in more than 60 countries around the world and employs more than 33,000 people. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Asseco has consistently pursued a strategy based on the development of its proprietary software and related services, as well as strong geographic, sectoral and product diversification, said Adam Góral, President of the Management Board of Asseco Poland. The international nature of the organization and its federative structure, which leaves a great deal of autonomy and freedom of action to individual companies, allow us to compete effectively on foreign markets while maintaining the local and flexible approach so necessary for our customers, he added.

As the authors of the ranking pointed out, Polish companies with a global reach not only affect the image of our country abroad, but are very important for the economic interest. Moreover, in summarizing the results of the list, they show that the best way to raise the financial status of Poles is for society and public authorities to cooperate with business for the global expansion of the Polish economy.

Implemented in the Plus network, the Asseco Technical Order Management (ATOM) module streamlines the flow of information between systems and significantly reduces the time required to launch and manage telecommunications services, resulting in improved efficiency and better preparation of the organization for the implementation of new solutions.

We decided on a new system for managing telecommunications services because we wanted to use a modern solution that would increase the efficiency, flexibility of configuration and reliability of the software in use. Asseco proved to be the right partner in this case, meeting our expectations. The main objective of this project was to reduce operating costs, decrease failure rates and shorten the time needed to launch new telecommunications services, and enable the implementation of mass changes in customer subscriptions," said Radosław Semkło, IT Director, Grupa Polsat Plus. "It was important for us that the replacement of such a critical and extremely complex system should proceed without affecting the IT environment and current business operations, as well as the transformation of the environment for individual customers (B2C), which was being carried out simultaneously. The entire implementation was carried out without noticeable service interruptions. Migrations from the previous Oracle Communications solution to ATOM were carried out continuously, making the changes invisible to the end customer. As part of the project, we moved more than 20 million subscriptions, and the system allows us to handle several hundred thousand orders per hour. This not only significantly increased work efficiency, but also led to a several-fold decrease in IT maintenance costs.

 

When implementing Asseco Technical Order Management for Grupa Polsat Plus, we were tasked with replacing a very complex system, which, in terms of interfaces, is fully compatible with the previous solution. The compatibility of the systems was proven in tests, and the implementations and migration proceeded without affecting the IT environment and business operations. Maintaining the continuity of processes in such a critical project was a major challenge that ended successfully, said Szymon Marzec, Project Area Director, Asseco Poland.

Tools have been implemented in the Asseco system to help manage services. These include an engine (Atom Core), a catalog of technical products and services (Atom Inventory) and a module for communicating with other network systems (Atom Service Activator).

The implementation of Asseco Technical Order Management has also translated into the end customer experience. By accelerating the launch of services on the operator's network, service availability increased, and the time required to activate cards and enable new variants of the offer was significantly reduced. As a result, the Plus network easily met the challenge of the sudden, several-fold increase in demand for changes resulting from the start of the war in Ukraine and the associated mass registrations of new subscribers. The increase in system capacity also allowed for the smooth implementation of the annual "Roam Like At Home" regulation on EU data limits for the entire postpaid subscriber base, without affecting ongoing business operations.

• 1) Cybersecurity - due to the increasing digitization of the banking market and the growing complexity of cyberattacks, the need for customer support in the area of security has been growing. We are not only talking about the technological sphere and the implementation of detection and anti-fraud solutions, but also in-depth customer education. More often than not, it is not the lack of security features, but the user's ignorance that makes a social engineering attack possible. Banks, regardless of what security features they have, will certainly invest in more solutions in the following areas:
• customer: behavioral biometrics, U2F dongles;
• bank’s IT: threat detection systems using artificial intelligence, tools for automating security procedures in the context of customer identification (e.g., in call centers);
• software building: additional elements of development processes focused on security, i.e. threat modeling, static and dynamic security testing (SAST and DAST tools).

• 2) Migration to the cloud and the use of various models that delegate responsibility for IT areas - after a temporary increase in bank profitability thanks to higher interest rates, we will most likely return to lower financial results in 2024, which will directly affect the need to reduce costs on the IT side. To this end, banks will continue to move some part or even whole of their IT to IaaS, PasS, SaaS (infrastructure, platform, software as a service) models, respectively. The vast majority of these services operate in the public cloud, hence we will see further investment in cloud solutions. It is also important to note the greater availability of public cloud regions within Poland, which gives impetus to increased interest in such services among banks. So far, the use of external data centers has been problematic, due to legal aspects. Nevertheless, now, having at least two big players in the public cloud market (Microsoft, Google), the transfer of their services will be much simpler.

• 3) Ecological banking - banks are increasingly focusing on sustainability and taking steps to reduce their carbon footprint, both operationally and in the products and services they offer. This will entail investments in both software that can reliably measure the carbon footprint, as well as in IT services that contribute to its reduction. An example of this is migrating from an in-house data center to the public cloud, where the negative environmental impact may be lower, thanks to the sharing of resources among the many institutions using such services.

• 4) Digitization of business processes - in order to reduce the cost of operations, while allowing the learning curve of processes operating in the bank to decrease, they will continue to invest in workflow class systems such as Asseco ABP. This solution enables automation of many activities and simplifies the way complex products such as loans are handled. This includes sales, as well as hundreds of different types of post-sales processes.

• 5) Artificial intelligence (AI) - it can be said that we are beginning to get used to the widespread presence of tools based on various types of artificial intelligence algorithms. Banks have long been the forerunner of the use of such tools in the area of sales support (cross-sell, up-sell), and in the coming time we will see the adaptation of more solutions. Banks are sure to find widespread use for generative artificial intelligence (LLM - large language models such as ChatGPT), for example, in supporting online banking users (making it easier to navigate banking systems) or in communicating with customers.

It is worth noting that there are also problematic aspects of using AI, such as the appropriate approach to privacy, respect for copyright or other legal issues. A major challenge will be to properly "explain" the decisions made by AI-based solutions. In such a heavily regulated industry, it will start to become important for banks to use not only "classic" AI methods, but, above all, to have solutions based on XAI, or Explainable Artificial Intelligence, which allow a clear representation of on what basis the bank made a particular decision.

Wojciech Nowak,

Head of Commercial Banking Division, Asseco Poland.

ComCERT experts from the Asseco Group point out that the number of known vulnerabilities (Common Vulnerabilities and Exposures - CVEs) has been growing year-on-year. According to data from the Statista platform, there were 22,514 CVEs in 2021 compared to 20,171 in the previous year. This translates into an increasing number of attacks, as cybercriminals exploit vulnerabilities to break through security and gain access to users' resources. Not insignificant is also increasing digitization, which involves more and more people and processes. This includes a citizen, a market and a state administration. Given the magnitude of this phenomenon, it is reasonable to assume that there will always be an unwary user or a poorly secured device which will make a successful attack possible. Cybercriminals and bots they have created are relentless in their efforts to find "weak points" (backdoor) that can be exploited.

The most important trends in the area of cybersecurity according to experts from ComCERT, from the Asseco Group:

1. Professionalization of criminal groups - Although most attacks are carried out by individual cybercriminals, organized groups will grow in strength. According to Krzysztof Dyki, President of ComCERT from the Asseco Group, they will become even more professional, and the ways they operate will make them similar to special forces. This is evidenced, among other things, by the fact that in order to avoid detection by law enforcement agencies, criminal groups are creating their own proprietary communication systems and other specialized and advanced tools. Since they are not widely available, unlike applications such as Signal or Telegram, they are difficult to surveil. In addition, the ComCERT President points to the consolidation of cybercrime groups. This involves the absorption of weaker organizations by stronger and more elaborate ones, which tempt with their prestige and the vision of greater profits from illegal activities.

2. Supply chain attacks - Because large organizations have budgets, resources and knowledge to better defend themselves against attacks, cybercriminals are increasingly taking aim at smaller, less secure entities such as service providers. The goal of these attacks is infiltration, which allows them to take control of technological processes implemented for the benefit of the end customer, who is the actual victim. According to the President of ComCERT of the Asseco Group, this is a particularly dangerous type of threat, as organizations often don't even realize that, for example, the software they offer to their customers has been infected at some stage of production. This happens by inserting a virus, or a remote communication module, into any of the components provided by a previously trusted partner.

3. Cybercriminal R&D - In the past, cybercriminals, like technology companies, used to develop software using largely open source solutions. Today, they are increasingly more often writing their own transmission protocols, encryption and compression algorithms, which are more efficient than those available on the market and harder for antivirus software to analyze. As Krzysztof Dyki points out, decoding proprietary protocols developed by cybercrime groups is difficult and time-consuming. The largest of them allocate resources for research and development similar to those of professional IT companies.

4. Cryptocurrency exchanges a target for attacks - As the ComCERT expert from the Asseco Group notes, it is increasingly unprofitable for cybercriminals to take on classic financial institutions such as banks as it often takes a long time from the moment of the attack until the funds are obtained. This is due, among other things, to the fact that many processes in banks are still analog. It is much easier and faster to get rich by attacking cryptocurrency exchanges, which rely entirely on digital processes. An example is the attack on the Ronin Network platform in 2022, which resulted in USD 620 million being stolen.

5. Widening gap between salaries of cybersecurity specialists and cybercriminals - According to data published by The Register, a monthly salary of a hacker developer is USD 20,000 net. According to Krzysztof Dyki, this is an amount that a specialist cannot be guaranteed by a legitimate company. The ComCERT expert from the Asseco Group points out that the salaries of cybersecurity specialists have been increasing year-on-year, while the amounts that can be obtained through illegal activities are much higher. However, money is not the only motivator for cybercriminals. These individuals also have certain personality predispositions. Cybercriminals often reject the norms operating in society, are characterized by anti-systemic attitude, and resentment towards corporations and state institutions. Only the effective identification of these individuals at an early stage of their activities, the creation of appropriate conditions for their development and honest work will allow them to be properly guided, so that they contribute to increasing the security of the digital world, rather than destabilizing it.

According to the expert from Asseco, this year will see the further development of key trends that emerged several years ago. What is changing, however, is the availability and ways of using technology.

We are facing an opportunity for a great acceleration, and it is up to us - the people involved in healthcare - to determine how this will translate into improvements in the quality of treatment for patients, she said.

 

The most important IT trends in the medical field according to Innocenta Dźwierzyńska:

AI - unstoppable development

Artificial intelligence (AI) gives us the promise of changing everything in healthcare, from the methods of treating patients, to the creation of drugs, to yet-to-be-determined elements, as its potential seems limitless.

AI can already interpret test results and give recommendations to choose the best treatment. In genetics, it is used to analyze patients' DNA to diagnose and treat diseases and create personalized medicines. In preventive healthcare, it enables early warning and rapid intervention. In disease prognosis, AI can analyze medical data and risk factors to predict the development of diseases. Based on this information, preventive measures can be taken and patients can be monitored to prevent complications.

A very interesting aspect of the revolution that is taking place with the support of AI is elderly care. Our society is aging, we are living longer and longer, and we want to remain fit and active at work, in the family or in society. From this perspective, the ability to monitor the vital signs of the elderly will become increasingly important. Of course, we already have smartwatches today that check heart rate or perform a basic ECG, but the game is about much broader diagnostics and analysis of the acquired data by AI. The results of these measurements could alert the patient and the attending physician to possible health problems.

Moreover, AI can help optimize healthcare processes, i.e. hospital management, scheduling of medical staff and resource management. With the help of algorithms, schedules can be optimized and the efficiency of the entire system can be improved.

It's safe to say that artificial intelligence is a driving force behind the direction in which healthcare will develop and has a bearing on all aspects of healthcare. However, focusing solely on technology can lead to neglecting other aspects of medicine. Despite progress, patients still need emotional support and understanding. AI can be an enabler, but it is human knowledge, understanding and empathy that are crucial to the healing process.

Data stored in emotions

Generative artificial intelligence that creates texts and images from data was a hit in 2023. However, what catches my attention this year and whose development I will be watching is EAI - artificial emotional intelligence. EAI is able to recognize emotions, i.e. happiness, anger, confusion, sadness or sentimentality, even from subtle changes in facial expressions and convert them into data. This is very important for healthcare. Recognizing even subtle differences in mood or behavior and having artificial intelligence respond accordingly will help people struggling with mental illnesses, as well as chronic diseases, to live in better comfort. In particular, it will contribute to the effectiveness of online therapy, adapting to the individual needs of the patient, and can also monitor the behavior of the subject and help diagnose mental disorders. However, remember that this is only a support of the therapeutic process, technological solutions will not replace contact with a specialist.

Training at a higher level

We are seeing a steady development of virtual reality and its application in medicine especially in the training of personnel. This technology allows us to simulate the course of a surgical procedure or the symptoms of a particular patient, which can be helpful in improving the process of diagnosis and the art of surgery.

Tissues straight from the printer

3D printing is already being used to create dental prostheses and implants, rehabilitation and medical equipment, as well as pre-operative planning. However, the future of this technology and its huge potential is bioprinting, that is, printing human tissues that will be able to replace natural organs. With the ever-increasing demand for organ transplants, the technology to produce them is becoming one of the most desirable innovations. We will be able to provide patients with new opportunities for health and life, eliminating long waiting times for transplants and the risk of rejection. Without a doubt, bioprinting is a promising direction for 3D printing and will bring a revolution in the medical field.

Security is crucial

Ensuring the security of patient data is an extremely important topic. We have been observing a number of cyberattacks on healthcare facilities and attempts, unfortunately also successful, to steal this particularly sensitive medical information. Here, a significant role will hopefully be played by the possibility of blockchain technology, which would ensure patient privacy and facilitate the exchange of information between healthcare entities. However, at this point, it does not yet have widespread application in medicine.

Technology revolutionizing medicine is the “Holy Grail” of our time, but the changes taking place should take into account the society in which we live. It is necessary to ensure equal access to AI-based medical care to avoid exacerbating health inequalities. Self-awareness and taking care of one's health is also important. Technology can provide information and support in maintaining a healthy lifestyle, but the ultimate responsibility lies with each of us. We need to be aware of our habits and take appropriate action to stay as fit as possible. 

According to Asseco Cloud experts, no one needs to be convinced about the advantages of the cloud anymore. In recent years, there has been a big change in the mentality of decision-makers and the perception of the cloud computing technology, which is much more resilient to disruption than traditional on-premise infrastructure. Outsourcing IT services to the public cloud makes it possible to accelerate their implementation and respond more efficiently to new market needs. In the case of public administration, change is being driven by law, which requires, among other things, the implementation of a cloud backup storage strategy. The corporate sector, on the other hand, appreciates scalability, flexible billing models and business continuity security.

The most important trends in the cloud area according to Asseco Cloud experts:

1. The location of backup matters - The war in Ukraine has shown how important it is to locate backup copies of data essential to the functioning of the state and companies in key industries. As Lech Szczuka, President of Asseco Cloud, points out, backup is only useful if it can be used. If the data center where it was stored is destroyed, this is impossible. Therefore, according to the Asseco Cloud’s President, it is worth considering placing backups in a center in another country, which will allow access to data, for example, in the event of the outbreak of war.

2. Law supporting the cloud - According to Lech Szczuka, in the coming year we can expect an intensification of work on further legislation aimed at ensuring the security of public administration data and critical infrastructure information. To a large extent, this will be based on the cloud, which, as the Asseco Cloud’s President points out, is already evident at the stage of project specifications and in tender bids. The Asseco expert predicts that in the case of regulated industries, such as finance, law will also open up to the cloud computing technology, especially in the area of backup data centers.

3. New applications will be created in the cloud - The cloud is a natural and fundamental environment for application development. It allows to use ready-made components, libraries and solutions that greatly facilitate the work on software. Many processes have been automated. As the President of Asseco Cloud explains, applications can now be "clickable", there is no need to create them completely from scratch. The cloud also means less work at the infrastructure level, e.g. no need for server configuration and virtualization. Companies can use the resources saved in this way for business development.

4. Further migration of legacy systems to the cloud - In the coming year, we will continue to observe the migration of large, long-standing systems to the cloud, both in public administration and in business such as banking. As the President of Asseco Cloud points out, this is a very complex process that often takes many years, requiring the decomposition of these solutions and the migration of individual components.

5. The cloud develops AI - Lech Szczuka points to the inextricable link between the cloud and artificial intelligence (AI). Initially, machine learning was used to administer databases. Over time, the technology has evolved and is finding wider and wider applications. Today, the cloud is a natural environment for the development of AI. It makes it easy to create AI-based applications and manage them at a later stage. According to the Asseco expert, this trend will further fuel the already huge demand for cloud computing services and computing power in the coming years.

The final result of the managerial competence sub-ranking was affected by awards and prizes, as well as assessments by experts working with SEC Newgate CEE (the agency’s consultants, stock market analysts and capital market journalists).

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in more than 60 countries around the world and employs more than 33,000 people. It has been growing organically as well as through acquisitions, of which it has made more than 130 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Despite uncertain times, we continue to consistently pursue our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us both in terms of sales and net profit attributable to Asseco Poland shareholders. The international nature of our organization and its federative structure, which leaves a great deal of autonomy and freedom of action to individual companies, allow us to compete effectively on foreign markets while maintaining the local and flexible approach so necessary for our customers," said Adam Góral, President of the Management Board of Asseco Poland.

Bad loans pose a serious challenge to banks, affecting their profits or even generating losses. Defaults require increasing credit risk provisions and adjusting them to changing market conditions. The accumulation of unpaid liabilities affects banks' ability to offer further loans, and requires the allocation of capital to cover their financial loss. Therefore, high efficiency in the processes of managing a loan portfolio at risk of default becomes one of the key goals of a well-functioning financial institution. This is also confirmed by a survey conducted by Asseco Poland, which showed that as many as 90% of the surveyed representatives of the management boards of cooperative banks recognize the need to increase the efficiency of collection process management in the face of the growing risk of non-payment of customer liabilities.

"Banks must meet certain standards for credit risk management, which includes, among other things, effective collection processes. This has to do not only with the difficult situation of some customers, but also with the increasingly stringent regulations and strict supervision to which the financial sector is subjected. Facing these challenges requires the support of technology, particularly in the area of analyzing the situation of a given customer. Modern tools not only streamline the debt collection process, but also allow us to adapt the methods of action to a specific case" - said Joanna Wijata-Siedlecka, Director of the WPI Product and Service Development Program at Asseco Poland.

Effective management of a debt collection process

As part of the Common IT Platform (WPI), Asseco Poland has released a solution supporting a comprehensive approach to managing the debt collection process in banks - the Asseco Debt Collection System (Asseco DC). It is a tool designed to facilitate the work of debt collectors by providing complete information on indebted contracts within a single platform. In addition, integration with a bank's transaction system allows for getting a complete picture of a client in a collection process and creates a consistent work environment for a user. Asseco's solution enables very quick identification of delays and missed repayments, which directly translates into reduction of the number of debts, faster recovery of funds and preservation of positive relations with a client. Not without significance is also access to management information, enabling assessment of the effectiveness of activities and optimization of a bank's debt collection policy.

The new, flexible tool provides control over debt collection processes, enabling banks to create their own strategies and policies. The system supports three key areas that contribute to reducing the ratio of non-performing loans and increasing the efficiency of debt collection:

• Monitoring a loan portfolio to identify risks as quickly as possible.
• "Soft" debt collection by consultants, which translates into a reduction in the ratio of non-performing loans.
• "Hard" debt collection leading to the recovery of debts through courts.

Flexible ways to communicate with a debtor

Thanks to its flexibility and rich parameterization tools, the Asseco DC system available on the WPI Platform enables banks to fully control their debt collection processes. This solution not only effectively identifies risks in a loan portfolio, but also facilitates the management of "soft" and "hard" debt collection. It also allows to appropriately select communication channels: individual letters, mass letters, text messages, e-mails, so as to effectively establish contact with a debtor and perform a debt recovery. For this purpose, banks can use ready-made communication templates provided in Asseco DC.

"The Asseco DC system has a flexible and rich parameterization mechanism for debt collection processes, which includes, among others, dictionaries of business parameters, including various statuses: debt collection, contracts, task completion, types of letters, as well as types of actions, delays, types of restructuring tools, etc., and templates for communication with a client. It is worth noting that access to information tools and flexible options for communicating with a client significantly increases the efficiency of debt collection processes, which in turn translates into better management of a loan portfolio" - explains Joanna Wijata-Siedlecka, Director of the WPI Product and Service Development Program at Asseco Poland.

Grand Press Digital and Technology is an award aimed at recognizing journalists who demonstrate special expertise, reliability and competence in producing materials that deal with the digital and technological environment.

The new technology industry in Poland already has 600,000 employees who are successful both at home and abroad. That is why we decided to recognize journalists who can write not only about bits and bytes, but also about the successes of the Polish IT sector and show Poland as a modern country, said Artur Wiza, Vice President of the Management Board of Asseco Poland, who presented the award to the winners. Our industry invests in artificial intelligence, but today we will reward those who have human intelligence and are behind these great texts, he added.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. It actively works on digital transformation and promotes the technology sector. Asseco was a partner of the Grand Press Digital and Technology special award established this year, which was presented as part of the Grand Press - one of the oldest and most prestigious journalistic competitions in Poland.

The Coalition Shared Data (CSD) systems enable the rapid sharing of reconnaissance data, i.e. satellite images, reports, maps or drone videos, between parties. The Asseco’s solution is integrated with Esri's state-of-the-art ArcGIS pro analytical software. As a result, from a single application, military analysts can access the CSD server, search and download the necessary materials, perform analytical work, create a product such as a report and upload it back to the server. Such a solution streamlines work and allows for the ongoing exchange of strategic information within the North Atlantic alliance.  

"CSD servers have been used for years by military services around the world. They allow rapid sharing of reconnaissance data between units scattered in different parts of the globe. This is a strategic technology that, especially in times of a crisis, is even essential. That's why, as the first company in Poland, we undertook the implementation and created the CSD_eP system. We are currently in talks to implement CSD_eP in military services that are part of NATO," said Anna Protasowicka, Commercial Director, Asseco Poland.

"The CSD_eP solution facilitates and streamlines the exchange of reconnaissance data thanks to servers that synchronize metadata among themselves. Networked NATO units can view and search materials by metadata, which are concise and structured descriptions of the contents. This ensures that the system is not overloaded, as the relevant data is retrieved only after the initial analysis," explains Konrad Żaba, IT Solutions Architect, Asseco Poland.

Asseco's solution was tested at this year's NATO CWIX and was accredited to operate in a classified network. More than two thousand participants from 43 countries took part in the Coalition Combat Interoperability Exercise. It was an opportunity to improve ways of exchanging strategic information and communicating between information systems. NATO CWIX is one of the largest and most important trainings within the North Atlantic Alliance. The innovations developed during the exercises make it possible to improve existing technologies, as well as to create completely new systems that change the way we work on the battlefield.

***

Asseco is the largest IT group in Poland and the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies and institutions in key economic sectors. The company is present in 61 countries around the world and employs nearly 33,000 people. It has been growing organically as well as through acquisitions. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Asseco's revenues are very well diversified. In 2022, the general business sector was responsible for 42% of sales, the banking and finance sector accounted for 33% and public institutions for 25%. In addition, the company strengthened its position in all geographic segments. Foreign sales accounted for 90% of the Asseco Group's revenues.

2022 was a record year for us both in terms of sales and net profit attributable to shareholders. We are extremely pleased with this, as the economic environment has been and continues to be challenging. Inflation, the war across our eastern border, and the still-felt effects of the pandemic all make organizations more cautious about investing, including in technology. Fortunately, the nature of the projects we run means that we can count on stability. Despite the uncertain times, we continue to consistently pursue our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification, Adam Góral, President of Asseco Poland, summarized last year's results.

Asseco is present in more than 60 countries around the world and employs nearly 33,000 people. It has made more than 130 acquisitions since 2004, and its companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

The international nature of our organization and its federative structure, which leaves a great deal of autonomy and freedom of action to individual companies, allow us to compete effectively on foreign markets, while maintaining the local and flexible approach so necessary for our customers. In 2022 alone, our Group was joined by 16 companies operating on the European, Israeli and American markets, said Adam Góral, President of Asseco Poland.

Asseco's revenues on the Polish market exceeded PLN 2 billion, making them the highest of all analyzed entities. The company's success was also affected by a high level of spending on research and development (R&D), as well as a large group of clients from the financial sector, numbering as many as 325.

Partnership and innovation
Asseco has been a trusted partner of financial institutions in both the commercial and cooperative sectors for more than 30 years. The company has been constantly working on the development of its solutions so that they meet the expectations of customers and, through innovations, increase their competitiveness.

By winning the IT@Bank ranking, we have simultaneously been recognized as the most versatile IT company, said Marek Lulek, director of the Cooperative Banks Division and director of the Sales Department in the Commercial Banks Division, Asseco Poland, who accepted the award on behalf of the company. We develop universal solutions that, among other things, enable our clients to comprehensively and efficiently sell and service financial products. One such product is Asseco BooX (Bank out of the Box), a universal process and technology platform that can provide the foundation for building a new bank, as well as be used to rebuild or modernize an existing financial institution, he added.

The 18th edition of the IT@Bank ranking is an assessment of technology companies prepared on the basis of indicators representing the achievements of a given company. The organizer and publisher of the compilation is the "Bank" Financial Monthly.

Read more about innovative solutions for the financial sector at: https://boox.asseco.com/

For the assessment of the financial situation and development of the Asseco Group's business activities, the basic figures published on a non-IFRS* basis are important information. During the first nine months of 2023, the Asseco Group generated PLN 1.5 billion (EUR 317 million) in non-IFRS operating profit, putting the result at a similar level to the corresponding period last year. In turn, non-IFRS net profit attributable to Asseco shareholders amounted to PLN 384 million (EUR 84 million).

Strong diversification increases business resilience

Asseco's revenues remain very well diversified geographically and by sectors. Geographically, foreign markets, represented by the Asseco International and Formula Systems segments, accounted for 89% and Poland for 11% of the Group’s revenues. By sectors, sales were distributed as follows: general business – 42%, finance and banking – 34%, and public institutions – 24%.

Revenues in the Asseco Poland segment increased by 12% during the reporting period and exceeded PLN 1.4 billion (EUR 309 million). The parent company recorded double-digit growth in the areas of finance and banking, healthcare, energy and telecommunications. Asseco Data Systems and Asseco Cloud, which operate on the Polish market, achieved very good sales results. The Formula Systems segment reported revenues of PLN 8.3 billion (EUR 1.8 billion) which were significantly affected by changes in currency exchange rates. Organic revenue growth in fixed exchange rates was 7%. In turn, the Asseco International segment generated revenues of PLN 2.9 billion (EUR 631 million). During the period in question, dynamic increases in ERP sales were recorded in Poland, the Czech Republic, Germany and Austria. Operating in the Southeastern Europe region, the Asseco South Eastern Europe Group generated double-digit revenue increases in the banking and dedicated solutions segments.

“Strong sector, product and geographic diversification allows us to operate effectively in a volatile market environment. The Asseco Group's financial performance in the first three quarters of 2023 was significantly affected by changes in foreign exchange rates. Organically, the business grew steadily - Asseco's revenue growth in fixed exchange rates was 6%. When we compare operating profit on a non-IFRS basis, net of one-off events, with the corresponding period last year, it is very similar” - said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

Asseco's consolidated order backlog for 2023 in variable rates, in the area of proprietary software and services, is currently worth PLN 12.5 billion (EUR 2.8 billion). Meanwhile, in fixed exchange rates, it amounts to PLN 13.6 billion (EUR 2.9 billion), 5% higher than in the corresponding period in the previous year.

Successful share buyback

In the third quarter of 2023, Asseco Poland conducted a successful buyback of its shares, with a total value of PLN 1.2 billion (EUR 257 million). A total of 14.8 million shares were acquired. Its goal is to ultimately increase the liquidity of Asseco's shares listed on the Warsaw Stock Exchange (WSE).

* The non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized in purchase price allocation (PPA), the costs of share-based payment transactions with employees (SBP), the revenues and costs related to company acquisitions/sales (M&A) and one-off events (and related tax effects).

The aim of the survey was to identify the world's most trustworthy companies. The survey, prepared by Newsweek and Statista, attracted 70,000 participants.  The ranking included 1,000 companies from 21 countries and 23 industries. Asseco, which is the leader of digitization in Poland and the largest software producer in Central and Eastern Europe, was ranked 37th in the "Software and Telecommunications" category and is the only Polish company on the list.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. We develop software for state institutions and companies in key sectors of the economy. We operate in an industry where innovation and security play a key role. For more than 30 years, our team has been providing technologically advanced solutions while maintaining the highest standards of cyber security, thanks to which we have managed to build a brand that is not only one of the most recognizable among Polish IT companies, but most importantly enjoys the great trust of our customers, said Artur Wiza, Vice President of Asseco Poland.

The "Top Brand" ranking has been published for 16 years and covers 500 brands from 50 industries. This is the largest study of its kind on the Polish market. "Press" and PSMM Monitoring & More analyze brands, selecting from among them the most popular corporate, product and pro bono brands in the media. As a result of this study, industry quantitative and qualitative rankings are created, showing, among other things, the image of individual brands in press publications, online and social media.

As the authors of the ranking pointed out, the key to the company's success is its consistent acquisition policy. Since 2004, Asseco has made more than 130 acquisitions. The Group’s companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange. In 2022, foreign markets together accounted for 90 percent of the revenues of the Asseco Group, which is present in more than 60 countries around the world and employs nearly 33,000 people.

Asseco, AGFA HealthCare and the Kujawsko-Pomorskie Center for Digital Competence have implemented the Regional Repository of Electronic Medical Records in the Kujawsko-Pomorskie voivodeship. The scope of the project included the digital connection of 15 hospitals, where doctors issue more than one million medical documents and perform 400,000 imaging examinations annually. Thanks to the introduced solutions such as e-Registration and the Patient Portal, patients gained quick access to their results, and the facilities have now comprehensive tools for managing the unit and offering e-Services.

Electronic medical records are becoming one of the key elements in the digitization of Polish health care. The collection, processing, storage and sharing of e-documentation translates into an increase in the level of patient service and significantly improves the work of personnel. The Regional Repository of Electronic Medical Records is a project that enables the implementation of the above functionalities at the regional and local levels. Its scope includes health care units for which the leading body is the Local Government of the Kujawsko-Pomorskie voivodeship and University Hospitals.

Digitalization in support of health

Asseco Poland, in cooperation with AGFA HealthCare, has built and implemented the EDM (Electronic Medical Records) system that allows the transfer and sharing of e-documentation of medical records and DICOM imaging studies. The system also offers a wide range of electronic services common to hospitals, such as e-Registration, emergency data, e-Patient Logbook and Patient Portal. In addition, it provides the ability for doctors from different units in the region to conduct e-Consultations, and meets statutory requirements for EDM.

„Today, a supportive IT partner can significantly empower healthcare entities to achieve increasingly ambitious digital service delivery goals. The Regional Repository of Electronic Medical Records project has connected 15 hospitals through the Patient Portal and EDM in the cloud. The cloud computing technology on which the solution is based addresses the current challenges of the increasing use of medical event reporting, increases accessibility to patient records produced within the hospitals, and guarantees their security while meeting regulatory requirements. In addition, the system offers a full range of e-services that enhance the comfort of staff, as well as improve the patient experience. In implementing the new solutions, we have also provided full technical and factual support” – said Dariusz Śliwowski, Deputy Director of the Healthcare Division, Asseco Poland.

„Thanks to the solutions used in the Regional Repository of Electronic Medical Records project, Polish doctors get access to the most modern solutions for searching, sharing, archiving medical image data in the world. In addition, thanks to e-Consultation, for the first time in Poland we enable remote medical consultation of DICOM images in the diagnostic standard. Both solutions significantly contribute to the improvement of diagnostic processes in the Kujawsko-Pomorskie voivodeship. The possibility of quick consultation of imaging studies for doctors of various specialties from different hospitals will increase the level of patient safety and the comfort of doctors' work” - emphasised Paweł Mańdok, President of AGFA HealthCare in Poland.

Advantage through the cloud

The creation of the Regional Repository of Electronic Medical Records brings numerous benefits. First and foremost, it introduces comprehensive, shared processing and delivery of medical services among hospitals in a cloud model, which translates into significant savings, and provides easy access to medical records and imaging studies. In addition, the system enables immediate exchange of EMD between hospitals in the region, which increases the availability of the service and guarantees its continuity. The entire process is carried out with the highest standards of data security, backups of which are stored in separate locations, so they can be recovered, for example, in the event of a server room failure.

The extensive digitization process is a challenge for large hospitals as well as small and mid-sized entities. They need the right partners who will not only guarantee efficient data management, but also properly secure it.

"The Best Annual Report" is a competition for the best annual report in terms of its useful value for shareholders and investors. Its main objective is to shape good practices in financial reporting of public companies, which enhances the security of the capital market in Poland.

Since the beginning of its operations, Asseco has been committed to corporate governance in the organization and has been involved in activities for the benefit of local communities and environmental protection, said Justyna Sowińska, Director of the Management Office, Asseco Poland. We are also aware that for a listed company, the fundamental principle of doing business is transparent communication with all the Company's stakeholders. Therefore, we make every effort to ensure that the information we provide meets all legal requirements and the highest quality standards, she added.

Honors in "The Best Annual Report" competition are awarded to companies from the regulated market that prepare consolidated annual reports according to IFRS/IAS and companies from the alternative market that report according to IFRS/IAS or the Accounting Act. The results of this year's competition were announced at the final gala, held on October 12, 2023 in the Quotation Room of the Warsaw Stock Exchange building. On behalf of Asseco, the award was received by Justyna Sowińska, Director of the Management Office, who heads the work related to the preparation of Asseco Poland's corporate governance statement.

The corporate governance statement is a separate part of the annual management reports on operations, and the information contained therein refers, among other things, to the corporate governance principles and practices that the issuer applies or the rules of the management and supervisory bodies. The highlighted statement can be found in the Management Report on the Operations of the Asseco Group and Asseco Poland S.A. for the year ended December 31, 2022.

Asseco Poland ranked 1st for the 17th time in the category of "Listed companies of the Podkarpacie region by capitalization." In turn, the 2nd position was maintained by another Asseco Group company, Asseco South Eastern Europe, which is the largest entity in Central and Eastern Europe in terms of sales of proprietary software and services.

Asseco Poland also ranked among Podkarpacie’s largest companies by net profit, net sales profitability and employment. Asseco Poland alone employs more than 2.4 thousand people. In turn, on a Group-wide basis, the amount of employment is about 33 thousand people.

Asseco Group

Asseco is a leader in digitization in Poland* and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in more than 60 countries around the world and employs nearly 33,000 people. It is growing organically as well as through acquisitions, of which it has made more than 130 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Asseco's companies consistently build shareholder value and share the profit they earn with shareholders. This year, Asseco Poland paid PLN 291 million in dividends for 2022, or PLN 3.50 per share. In turn, Asseco Business Solutions and Asseco South Eastern Europe transferred PLN 77 million and PLN 76 million to their shareholders, respectively.

Young people also appreciate BSGo Junior for its intuitive and attractive user interface. The app is easy to use, featuring a simple and minimalist design and clear layout.

BSGo Junior can be used comfortably on various devices: smartphones, tablets or computers (in addition to the mobile app, there is also a desktop version available online).

Out of the 20 cooperative banks that have joined the implementation of BSGo Junior, 7 have already made the service available to their customers. Users from Skierniewice, Brodnica and Barlinek, among others, are the first to take advantage of the application for young users (the app is available under the name "GBSBank Na Start").

New app for children - BSGo Kids - will soon join BSGo Family

Asseco, a leading provider of technology solutions for the financial sector, will soon launch a new application for children called "BSGo Kids." This solution will complement Asseco's family of mobile products, thus addressing the needs of users of all ages. This will enable cooperative banks to provide comprehensive personalized mobile banking solutions for all customers: from children to teenagers to adults.

One of the key and unique strengths of the Asseco mobile app is its ability to automatically adapt to the age of the user. This means that when a child turns 13, the BSGo Kids app will automatically transform into a "Junior" version, and then when the user reaches the age of majority, it will provide the complete functionality of the adult app.

The solution does not require any additional action on the part of the user, including the installation of a new application from the BSGo family. Parents can rest assured, knowing that their children will have access to the right tools and content that grows up with the user. The information appearing in the app helps young customers learn about the world of finance and makes them more informed consumers.

„The flexibility and automatic adaptation of the application to the age of the user is another step towards creating even more user-friendly, educational financial tools. It's also an excellent example of how modern technology is helping to build the image of cooperative banks as modern organizations that respond efficiently to the changing needs of customers of all ages. Thanks to technology, they are able to provide personalized and efficient service to all users,” – mówi said Joanna Wijata-Siedlecka, WPI Program Director, Asseco Poland „Innovative approaches to providing financial tools from an early age can help increase the number of more financially aware and responsible consumers in the future. However, it should not be forgotten that they must provide an excellent user experience and guarantee a high level of security”.

Asseco's offerings include central banking systems, as well as omnichannel and mobile solutions that respond to the latest trends in the global financial market. Thanks to its experience and competence, the company has implemented its core banking solutions in several hundred banks. It is a leading IT provider to the banking sector in Poland and operates in many European countries, as well as in Israel and the African market.

The Asseco Group also cooperates with large international insurance companies. Sapiens International, the Group's competence center for insurance, is a leading global provider of software for this sector. In addition, Asseco offers comprehensive IT solutions to support the work of brokerage houses, leasing and factoring companies.

We have been consistently pursuing our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us in terms of sales. Indeed, the international nature of our organization and its federated structure allow us to compete effectively in foreign markets, while maintaining the local and flexible approach so necessary for our customers, concluded Adam Góral, President of Asseco Poland.

The companies highlighted in the IDC FinTech Rankings are the organizations most involved in the digitization of financial services institutions. Through them, they are implementing technological innovations that increase efficiency and enhance the level of service to their customers, which is crucial in the realities of the digital economy.

IDC has been compiling FinTech rankings for the past twenty years and in its list of the top 150 providers it includes a representation of the world's largest FinTechs, said Marc DeCastro, research director at IDC. The technology companies on this list provide the innovative solutions needed to digitize financial services at the highest level, he added.

The "IDC FinTech Rankings" report covers providers of technology solutions (hardware, software and services) for banking, insurance, capital market and fintechs supporting these sectors. The main criterion for the list was the amount of revenues achieved in these areas.

Adam Góral believed that the future of IT was software. In the first years of his business, he focused on intensive development in Poland, the turning point of which was Asseco Poland's IPO on the Warsaw Stock Exchange (WSE) in 2004. This helped him to raise capital that enabled the company to grow further and expand abroad. It is how the project of building the Asseco Group began - an international federation of companies, an alternative to large IT corporations.

Team strength

As Adam Góral stated when receiving the award granted by the Polish Chamber of Information Technology and Telecommunications (PIIT), what Asseco achieved was greatly affected by the entire team, who, like him, believed that the chosen course of action was the key to success, which is why, in his opinion, this award is for all the company's employees.

Asseco's CEO continues to consistently develop the Group, proving the uniqueness of Polish solutions and IT experts on a global scale. Today, Asseco is present in more than 60 countries around the world and employs nearly 33,000 people. It has been growing organically as well as through acquisitions, of which it has made more than 130 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange. Adam Góral has managed to create a stable company that has been creating value for its shareholders for years. In 2022, the Asseco Group's revenues reached PLN 17.4 billion, 90% of which came from international operations. In turn, operating profit for the period amounted to PLN 1.8 billion.

30th Anniversary Award

PIIT has been awarding its prize for many years, the purpose of which is to identify and recognize outstanding experts who have made a special contribution to the development of the ICT environment in Poland. This year, on the occasion of the jubilee of the Polish Chamber of Information Technology and Telecommunications, a special award was granted - the 30th Anniversary Award of PIIT.

For the assessment of the financial situation and development of the Asseco Group's business activities, the basic data published in non-IFRS* terms is an important piece of information. During the first six months of 2023, the Asseco Group generated PLN 982 million (EUR 213 million) in non-IFRS* operating profit, up 2% versus the first half of 2022. In turn, non-IFRS net profit attributable to Asseco Poland’s shareholders totaled PLN 260 million (EUR 56 million).

Asseco's revenues remain very well diversified by sectors. In H1 2023, they were distributed as follows: general business - 42%, finance and banking - 34% and public institutions - 24%. The Group recorded sales increases in each of these areas. In the public institutions sector, revenues increased by 6%, in finance and banking the increase was 3%, and in the general business sector it reached 2%. Asseco has a diversified customer portfolio - the 10 largest contractors accounted for 11% of the Group's revenues, while the largest customer was responsible for 2%.

Sales growth in Poland and strong position on foreign markets

A very good half-year period was recorded by Asseco Poland. Revenues in this segment increased by 16% in H1 2023 to PLN 971 million (EUR 210 million). Foreign markets represented by the Formula Systems and Asseco International segments accounted for 89% of the Group's total sales. The Formula Systems segment recorded PLN 5.6 billion (EUR 1.2 billion) in revenues, which marked a 3% increase versus the first six months of 2022. Sales of the Asseco International segment were comparable to the same period a year earlier and reached PLN 1.9 billion (EUR 421 million). During the period under review, the Asseco Group’s companies finalized three acquisitions on the Israeli market, strengthening their position in the area of cyber security and expanding their offerings with more IT solutions and services.

"Asseco's continued growth in a volatile business environment was possible thanks to strong sector, product and geographic diversification. We are pleased with the very good results in the Asseco Poland segment, where revenues grew at a double-digit rate. In the first half of the year, we observed dynamic sales growth in the areas of finance and banking, healthcare, energy and telecommunications. Revenues from the general business sector grew by 29% in Poland, and from finance and banking by 28%. Our revenues grew dynamically at Asseco Data Systems companies, including in the areas of trust services, and at Asseco Cloud, which generated sales in the first half of the year that were over 30% higher than in the corresponding period in the previous year" - said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland. "In the case of international markets and the Asseco International segment, we are very pleased with the sales of ERP solutions. The Asseco South Eastern Europe Group increased its scale of operations in all segments. Formula Systems companies have been successively acquiring new contracts and winning customers in Israel, North America and Europe" – added Asseco Poland’s CFO.

Asseco's consolidated order backlog for 2023 in variable exchange rates, in the area of proprietary software and services, is now worth PLN 12.2 billion (EUR 2.7 billion). In fixed exchange rates, it amounts to PLN 13.4 billion (EUR 2.9 billion) and is 7% higher than in the corresponding period last year.

* The non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized in purchase price allocation (PPA), the costs of share-based payment transactions with employees (SBP), the revenues and costs related to company acquisitions/sales and one-off events (and related tax effects).

Asseco recorded the highest sales to large companies, as well as the public administration and uniformed services sectors, and banking. It also ranked No. 1 among providers of servicing, integration, cloud computing, application implementation and ERP software.

Asseco in the "ITWiz Best100" ranking for 2022:

Last year was a record year for Asseco in terms of financial performance. The company's business strategy enabled it to operate effectively in the face of global crises such as the COVID-19 pandemic and the outbreak of war in Ukraine, and above all to maintain the trust of employees, customers and investors. Asseco is aware, however, that it is not only valued for the financial efficiency of its operations, but also for the sustainability of its business. Since its inception, the company has been committed to corporate governance within the organization and has been involved in activities for the benefit of local communities and environmental protection.

Commitment, professionalism, respect, efficiency, quality and responsibility are our core values. They are the pillars of our business, which develops in a sustainable way thanks to them, said Gabriela Żukowicz, Vice President of the Management Board and Chief ESG Officer, Asseco Poland. We are determined to continue in this direction and, together with our employees, customers and investors, build a company that not only brings them tangible benefits, but is also a source of pride, she added.

For further information please visit: esg.asseco.com

Asseco's revenues are very well diversified. In 2022, the general business sector was responsible for 42% of sales, the banking and finance sector accounted for 33% and public institutions for 25%. In addition, the company also grew intensively in foreign markets, where it generated 90% of sales.

Despite uncertain times, we continue to consistently pursue our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us both in terms of sales and net profit attributable to shareholders of Asseco Poland, said Adam Góral, President of the Management Board of Asseco Poland.

The biometric signature is an electronically fixed handwritten graphic mark made with a stylus on a tablet screen. When it is applied, biometric characteristics - such as pressure and speed - are recorded. To secure the authenticity of the signature's origin and integrity, as well as its timing, it has been integrated with Asseco's qualified trust services compliant with the eIDAS Regulation (qualified seal and qualified electronic time stamp). Together with SignaturiX and mobile devices, they guarantee the security of signature submission and reliability.

A unique feature of the solution is its integration with the Trusted Third Party service, which manages the key that decrypts the biometrics collected during the signing process. The encrypted data is stored in the signed document, and the necessary key to decrypt it is held by Asseco - so the company acts as a Trusted Third Party. 

Among other things, Asseco is the largest producer of custom software, including Business Intelligence, Big Data and Data Discovery systems. In addition, it is a leader among providers of IT solutions and services for large companies and enterprises, as well as the public administration and uniformed services, health care, and financial and insurance sectors. Asseco is also the largest provider of servicing in the country. The company keeps on spending the most on R&D. In 2022 alone, it invested nearly PLN 430 million in this area.

2022 was a record year for us in terms of both sales and net profit attributable to shareholders. We are immensely pleased with this, as the economic environment has been and continues to be challenging. Inflation, the war across our eastern border and the still-felt effects of the pandemic all make organizations more cautious about investments, including in technology, said Adam Góral, President of Asseco Poland. Despite the uncertain times, we continue to consistently pursue our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification, he added.

Asseco in the Computerworld TOP200 ranking:

In 2022 alone, our Group was joined by 16 companies operating in the European, Israeli and American markets. Since our IPO on the Warsaw Stock Exchange (WSE) in 2004, the number of our acquisitions has already reached nearly 130. This brings the Asseco Group today to nearly 33,000 employees in 60 countries on 6 continents, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key economic sectors. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

We place great importance on building a comfortable and engaging work environment. We make sure that our employees are properly motivated every day and have a sense of influence on the development of projects and the entire organization. Asseco implements ambitious projects for the largest clients in Poland, from various sectors of the economy, which makes our employees’ work  rewarding and allows them to develop in many areas - said Gabriela Żukowicz, Vice President of the Management Board of Asseco Poland.

Asseco is a leader in digitization in Poland* and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries around the world and employs nearly 32,000 people. It has been growing organically as well as through acquisitions, of which it has made more than 120 since 2004. Asseco's companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to the Computerworld TOP200 report for 2022.

In Q1 2023, the Asseco Group generated PLN 494 million (EUR 105 million) in non-IFRS* operating profit, up 3% year-on-year. In turn, non-IFRS net profit attributable to Asseco Poland's shareholders was at a similar level to the previous year, amounting to PLN 120 million (EUR 26 million). For the Asseco Group, the non-IFRS figures provide important information on its financial position, as well as for assessing the development of its business.

Consistent business diversification

Asseco's revenues remain very well diversified by sectors. In Q1 2023, they were distributed as follows: general business - 44%, banking and finance - 33% and public institutions - 23%. The Group recorded sales increases in each of these areas. The public institutions sector grew the strongest, by 10%, while banking and finance by 7%, and the general business sector by 5%.

During the reporting period, Asseco expanded its operations both in Poland and abroad. Sales revenues in the Asseco Poland segment increased by 12% and amounted to PLN 457 million (EUR 97 million). Foreign markets represented by the Formula Systems and Asseco International segments accounted for 90% of the Asseco Group's total revenues in Q1 2023. The revenues of the Asseco International segment were 5% higher than in the corresponding period a year ago, amounting to PLN 988 million (EUR 210 million). The Formula Systems segment, in turn, recorded PLN 2.9 billion (EUR 618 million) in revenues, which marks an increase of 7% versus Q1 2022.

Security and financial stability

Asseco's consolidated order backlog for 2023 in variable FX rates, in the area of proprietary software and services, is now worth PLN 11.2 billion (EUR 2.4 billion). In turn, in fixed FX rates, it totals PLN 11.7 billion (EUR 2.5 billion) and is 4% higher than in the same period last year.

"Strong business diversification at the level of products, sectors and geographic markets, as well as long-term customer relationships and a high proportion of recurring revenues provide the Asseco Group with security and financial stability in the volatile business environment in which we currently operate. Taking into account only organic growth, sales growth in fixed exchange rates reached 8% in the first quarter of 2023, which is a similar level to the one recorded during the first three months of 2022. We observed continued sales growth in all segments. Revenue growth was highest in the Asseco Poland segment. We achieved very good sales performance in Poland in the banking and finance, healthcare, energy and telecommunications sectors. We also recorded double-digit sales growth in Asseco Data Systems and Asseco Cloud. The Formula Systems Group continued strengthening its position in Israel, North America and Europe. The first three months of 2023 were also very good for the Asseco Enterprise Solutions Group, from the Asseco International segment, which intensively developed sales of ERP solutions, and the Asseco South Eastern Europe Group, which increased its scale of operations in all business segments" - said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland.

* Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized in purchase price allocation (PPA), the costs of share-based payment transactions with employees (SBP), the revenues and costs related to company acquisitions/sales and one-off events (and related tax effects).

The Asseco team consists of nearly 33,000 people, whose commitment translates into very good results for the company. Sales of Asseco's proprietary products and IT services increased by 19% versus the previous year and exceeded PLN 13.4 billion. In turn, operating profit, having increased by 25%, amounted to PLN 1.8 billion, and net profit attributable to shareholders of the parent company was 8% higher, reaching PLN 503 million.

Despite uncertain times, we continue to consistently pursue our strategy based on the development of our proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us both in terms of sales and net profit attributable to Asseco Poland shareholders, said Adam Góral, President of Asseco Poland. The international nature of our organization and its federative structure, which leaves a lot of autonomy and freedom of action to individual companies, allow us to compete effectively in foreign markets, while maintaining the local and flexible approach so necessary for our customers. In 2022 alone, 16 companies operating in the European, Israeli and American markets joined our Group, he added.

Following the outbreak of the war in Ukraine, Asseco took a number of measures to support those who arrived in our country. The company provided housing for nearly 170 families with children for the first month of their stay, and supported them as needed in housing, formal and legal matters, as well as medical issues and children's education. It also provided them with material and financial support. In addition, Asseco organized a Santa Claus meeting for 40 Ukrainian children learning in Rzeszów schools. The company also donated funds to selected foundations and supported them in their activities. In addition, it supported its employees (materially and financially), who independently undertook aid activities, such as at the border. In total, in 2022, Asseco allocated more than PLN 1.7 million to help people from Ukraine.

Last year, the company once again organized a charitable campaign by Asseco employees called "We Help." Its purpose is to help those most in need and to motivate employees to get involved. They decide to whom and in what form they will provide support within the budget specially allocated for this purpose. They nominate selected organizations for financial support, such as orphanages or single mother's homes, hospices or foundations supporting poor families. An important criterion in evaluating applications is that in addition to nominating and justifying the selection of a particular organization, employees should come up with ideas for additional forms of assistance that they themselves can donate. Everything counts - commitment, dedication of their free time, sharing their knowledge or skills with someone. Also important is their past cooperation with the selected organization. Very highly rated are the ideas that engage work colleagues.

In this year's edition of the "We Help" campaign, Asseco helped 17 organizations. In turn, since the beginning of this project, it has allocated PLN 1.74 million to help those in need, thanks to which, among other things, 5,000 children have received support. So far, 2,000 employees have been involved in the "We help" campaign.

The Responsible Business Forum, the largest and longest-established organization dealing with CSR and ESG in a comprehensive manner, publishes the "Responsible Business in Poland. Good Practices" report annually. The main part of the publication is a summary of CSR and sustainable development activities carried out by companies in the previous year.

The Cooperative Bank in Wschowa is a modern and secure organization with only Polish capital, operating on the market for more than 75 years. It is one of the digitization leaders and has received a number of awards in Poland and abroad for the innovative technological solutions it has implemented. The bank's latest IT project is aimed at increasing the security of transactions carried out by customers using online and mobile banking services.

Cyberattacks on banks increasingly sophisticated

Last year, the Financial Supervisory Commission (KNF) made an announcement, reminding financial institutions of the risks associated with cyberattacks. According to the KNF's data, there were up to 500% more such attacks between 2021 and 2022. The methods used by cybercriminals have become increasingly sophisticated, so fighting them effectively requires both the support of technology and continued awareness of users about the threats present in the digital space.

“We have decided to implement Asseco FDS to reduce the number of fraudulent transactions and the losses that come with them. Cyber criminals often target organizations in the financial industry and their customers. Sophisticated cybercriminal methods are able to change the phone number or email address from which fraudsters make contact. When they call, the victim's phone may display a different, known number or a bank name. Therefore, in addition to securing our bank from the technological side, we also conduct numerous educational campaigns. With the help of available media and organized meetings, we warn against increased social engineering attacks, such as vishing and spoofing” - explains Michał Przyjemski, Vice President of the Management Board of the Cooperative Bank in Wschowa.

Real-time monitoring of transactions

Asseco FDS (Fraud Detection System) is a solution for banks to help them fight cybercriminals and secure their customers' money. The system monitors concluded transactions in real time. It correlates data about the user, coming from different sources, which allows to get a complete picture of the user and identify their typical behavior. The bank's analyst receives a notification when the system detects a suspicious transaction, such as one made at an unusual time, or from a different location than the one corresponding to the user's whereabouts.

Asseco FDS provides bank employees with a set of information necessary in the process of verifying suspicious transactions, both those selected automatically and those reported by customers. This gives the bank the ability to analyze a given case from the perspective of a crime, and, if necessary, to take additional verification actions. Preventive actions taken by the system in real time can include stopping suspicious transactions. Quick detection and prevention of fraud contributes to maintaining customer confidence and the reputation of the financial institution.

Rapid response to new forms of abuse

“We are aware that cybercriminals constantly change the way they operate. That's why Asseco FDS is equipped with a rule editor that makes it possible to easily add a new or modify an existing detection rule as needed. This allows us to react quickly whenever the perpetrators’ new way of operation emerges and to search the system's repository for similar incidents” - says Paweł Kusza, Project Manager, Cooperative Banks Division, Asseco Poland.

For more information about Asseco FDS, click this link.

In 2022, non-IFRS* operating profit amounted to PLN 2.0 billion (EUR 433 million), up by 14% versus the 2021 levels. In turn, non-IFRS net profit attributable to Asseco Poland’s shareholders stood at PLN 547 million (EUR 117 million), which marked an increase by 6%. For the Asseco Group, the non-IFRS figures provide important information on its financial situation and business development.

Asseco's revenues are very well diversified. In 2022, the general business sector was responsible for 42% of sales, the banking and finance sector accounted for 33% and public institutions for 25% of total revenues. The Group recorded double-digit growth in all sectors.

Asseco strengthened its position in all geographic segments. In 2022, the foreign markets represented by the Formula Systems and Asseco International segments together accounted for 90% of the Group’s revenues. The sales of the Formula Systems segment increased by 23% to PLN 11.5 billion (EUR 2.4 billion), and operating profit by 49% to PLN 1.1 billion (EUR 242 million). After non-IFRS adjustments, the segment's operating profit stood at PLN 1.3 billion (EUR 271 million), which marked an increase of 20% versus the 2021 non-IFRS operating profit. In the Asseco International segment, revenues increased by 15% to PLN 4.2 billion (EUR 895 million), and operating profit reached PLN 407 million (EUR 87 million). Adjusted for non-IFRS, the segment's operating profit rose by 4% to PLN 465 million (EUR 99 million). The sales of the Asseco Poland segment exceeded PLN 1.7 billion (EUR 371 million), up by 10% from a year earlier, and operating profit was 5% higher at PLN 275 million (EUR 59 million).

“Despite uncertain times, we continue to consistently pursue our strategy based on the development of proprietary software and related services, as well as strong geographic, sector and product diversification. 2022 was a record year for us both in terms of sales and net profit attributable to Asseco Poland’s shareholders. The international nature of our organization and its federated structure, which leaves a great deal of autonomy and freedom of action to individual companies, allow us to compete effectively on foreign markets while maintaining the local and flexible approach so necessary for our customers. In 2022 alone, 16 companies operating on the European, Israeli and American markets joined our Group. Since our IPO on the Warsaw Stock Exchange (WSE) in 2004, the number of our acquisitions has already reached nearly 130. This brings the Asseco Group today to nearly 33,000 employees in 60 countries on 6 continents" - said Adam Góral, President of the Management Board of Asseco Poland.

 

Asseco's consolidated order backlog for 2023 in variable FX rates, in the areas of proprietary software and services, is currently worth PLN 9.8 billion (EUR 2.1 billion). In fixed FX rates, in which the backlog for 2022 was converted, it amounts to PLN 10 billion (EUR 2.1 billion).

"The war in Ukraine has confirmed the importance of cyber security. As a provider of solutions for public institutions and companies, we have taken an active role in securing IT systems and helping our customers adapt their infrastructure and procedures to the new realities" - explains Adam Góral. "We also have huge ambitions and far-reaching plans when it comes to the cloud solutions market. We want to be actively involved in the construction of the European cloud computing, and the establishment of Asseco Cloud in 2021 is the first step in this direction. We continue to intensively promote the paperless concept, transferring our clients' analog processes to the digital space. We also work on artificial intelligence (AI) solutions. I believe that the growing popularity of AI tools is not a fad, but the direction of development of technology, which is intended to serve humans" - added Adam Góral.

 

Asseco has been consistently building value for its shareholders with whom it has been sharing earned profit. This year, the Company's Management Board recommended to the General Meeting of Shareholders that a dividend of PLN 291 million (EUR 62 million) be paid for 2022, which translates into PLN 3.50 per share (EUR 0,7) and represents 58% of consolidated net profit attributable to Asseco Poland’s shareholders.

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

***

Asseco is the largest IT company in Poland and the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries around the world and employs nearly 33,000 people. It has been growing organically as well as through acquisitions. Asseco’s companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

eSurvey make it possible to define and manage survey templates, facilitate survey campaigns among patients and enable statistical analysis of responses. The service is available to users of the Asseco mMedica system, which is used by thousands of health care units. Patients receive access to a survey by e-mail or directly from the eRegistration portal. They can fill it out on any device such as a smartphone, computer or tablet.

A well-conducted medical survey is the basis of every doctor's work. Based on the information obtained from a patient and a patient's medical history, a doctor diagnoses and decisions. That is why it is so important that they can quickly and easily obtain this information. Our new eSurvey service, available to mMedica system users, enables that. Properly asked questions, which a patient answers before a visit, give a doctor more time during a visit, says Szymon Chamuczyński, Director of the Mass Products Department in the Health Division of Asseco Poland.

The eSurvey mechanism can also be used when conducting preventive programs. On the one hand, surveys become a source of information for patients, and on the other hand, they allow us to collect data about their participation in a given program and learn from their responses, adds Marcin Płaczek, Operations Director, Krajowy Operator Chmury Medycznej, from the Asseco Group. eSurveys also provide an opportunity to conduct surveys of patient satisfaction and needs, that support the process of improving the quality of medical services and create opportunities to increase the competitiveness of a given clinic or doctor's office, he concludes.

The eSurveys solution provides a simple and convenient registration process for the service and guarantees the security and protection of patient data. Integration with the mMedica software allows viewing survey information directly from an office visit window and including them in a patient's medical records.

For more information on the eSurvey service, please see:

https://mmedica.asseco.pl/moduly-dodatkowe/eankiety/

https://chmuradlazdrowia.pl/eankiety/

***

Asseco is a leader in the market of IT solutions for healthcare and a producer of proprietary IT solutions used by more than 400 hospitals in Poland, around 40% of outpatient clinics and doctors' offices, as well as units of the National Health Fund, blood donation and haemotherapy centers and health resorts. Asseco's product portfolio includes a comprehensive IT system for large and mid-sized medical entities - Asseco Medical Management Solutions (AMMS), a solution for mid-sized and small organizations and individual medical practices - mMedica, as well as mobile applications for patients, including: Home First Aid Kit, Medical Information and My Measurements. Together with Operator Chmury Krajowej, Asseco has created the Krajowy Operator Chmury Medycznej company. Its goal is to support the digitization of healthcare and enable medical units to provide e-Services, including the creation and management of an EMD repository.

According to the government's announcements, e-Delivery will be the primary and, for many entities, mandatory way to communicate with the public administration. The implementation process will be spread over time, but starting in 2024, all public entities (government administration, state control and law protection bodies as well as budget units serving them, the National Health Fund - NFZ, the Social Insurance Fund - ZUS, the Farmers' Social Security Fund - KRUS, universities, the Polish Academy of Sciences, local government units and their unions), as well as representatives of public trust professions and business entities corresponding with them will be obliged to implement e-Deliveries. Only already registered sole proprietorships can benefit from the vacatio legis until 2026. The absolute exception is the Justice Department, which will not have to fulfill this obligation until 2029.

Much more than "secure email"

In order to use the e-Delivery service, both companies and individuals will receive a unique electronic delivery address assigned by the Minister of Digitization. It will consist of 36 characters linked to the entity that owns it. Information about the assigned address is stored in the Electronic Address Database (BAE).

An e-Delivery address is sometimes mistakenly associated with an e-mail address. Meanwhile,  e-Delivery is a much more advanced solution with additional features and higher security. Among other things, it allows one to determine who is the sender, who is the recipient, and the identity of both parties is confirmed. In addition, the legal effect of a delivery via Registered Electronic Delivery service cannot be challenged, which means it can be used as evidence in legal proceedings. The sending process is carried out with confidentiality of information, and the date and time of sending or receiving the delivery is legally confirmed.

e-Delivery in dealing with administration, business and customers

Both a legal entity (company) and an individual will be able to set up an e-Delivery box from Asseco Data Systems. The service offered by Asseco Data Systems can be tailored to the individual needs of an organization and allows for an integration with corporate solutions, such as office or document circulation systems. It makes it possible to exchange correspondence with each party: public administration, individuals, companies.

"E-Delivery is a service that has been lacking on the Polish market. This solution will make it much easier and faster not only to conduct business, but also to deal with everyday matters. Sending correspondence will no longer depend on the working hours of post offices and its security will be much higher, as third-party interference will be completely excluded. In addition, all correspondence is available in one place with proof of posting, execution and delivery. This will be of particular importance in case of any disputes" - said Paweł Wojtaszyk, Product Manager at Asseco Data Systems. "E-Delivery is the last missing trust service defined at the EU level. This market is forming just as we speak. As a provider, we are hoping to build such a market for electronic delivery, where the synergy of public and commercial providers will encourage recipients to make extensive use of e-Delivery throughout the European Union" - he added.

According to the Asseco expert, eventually, the address for electronic delivery will be used in every administrative and judicial procedure. Public administration bodies will send all correspondence this way. If a citizen does not have an electronic delivery address, offices will use a hybrid service, that is, they will send documents electronically, which will be printed and delivered in paper form as well.

The Asseco system processes all contracts made through Allegro Pay. Implemented by Allegro in 2020, the buy-now-pay-later service has been steadily gaining popularity. The number of Allegro Pay customers has already surpassed 1 million, and in the third quarter of 2022 alone, loans of PLN 1.4 billion were granted through it, up 156 percent year-on-year.

Core System as a Service

An important component of Allegro Pay is the Asseco Core Banking Solution platform, bringing ready-made solutions proven successful in the banking area and taking into account Allegro's accounting schemes. Asseco, Allegro Pay's technology partner, has provided not only computing power and relevant software, but also a team of specialists to support operations 24/7. The service is provided according to the Software as a Service (SaaS) model, developed for the needs of financial institutions, where payment is made in a subscription model.

"We are able to process 50 contracts per second. On average, this is 10 million documents per month. Among other things, the Asseco system prepares the repayment schedule, calculates and books interest, records loan disbursement, handles repayment settlement, calculates arrears, or processes booking postings. Importantly, the seller receives the entire amount right away and does not have to wait for subsequent installments paid by the buyer," explains Bartłomiej Bartosiewicz, Business Development Director at Asseco Poland. "In financial services, information security is very important. Asseco does not store any Allegro user data within its own data center infrastructure," he adds.

"Cooperation between two Polish technology companies operating internationally should be something natural," says Jakub Kachlicki, Director of Financial Services Technology at Allegro Group. "The choice of Asseco was determined by the readiness and functional maturity of the solution. It gives us the opportunity to shorten the time from idea to service launch with a reasonable level of involvement on our side in the development of the standard part of the financial product and related processes."

Further growth on the horizon

BNPL (Buy Now Pay Later) services are not only convenient for customers, but also allow merchants to attract new groups of consumers and e-commerce platforms to increase the number of transactions. According to the "Koszyk Roku 2022" report, almost 75 percent of the largest e-commerce sites offer deferred payments. Allegro experts have no doubt that the growth of BNPL payments is a clear trend in the e-commerce industry.

In addition to its high position in the main ranking, Asseco was also among the top companies in the various categories of the list. The Asseco Group is the leader in the "International" category, where it was the only one to achieve the maximum possible score. The justification emphasized that Asseco is the most rapidly growing company in the international market. The company also ranked 1st in the "Professional Services" category and 3rd in the "Economy" category, which reflects the organization's contribution to Poland's economic development.

For the past five years, we have been compiling a ranking of the largest Polish companies of key importance to the economy. Most rankings of companies compiled in Poland focus exclusively on the size of a company or capital group as measured by basic macroeconomic indicators - revenues, profit, exports or employment. However, this is only one of the dimensions emphasized in Polish public discourse about national champions. In addition to the size of companies, their productivity, role in the industry, presence on the international market or investment in development and innovation are also important. This time around, we take a particularly close look at how the role of Polish national champions in ensuring the security of the state has changed. The state is unable to replace them, and should therefore support them, said Adam Czerniak, Research Director of Polityka Insight and co-author of the report "National Champions 2022: How they take care of our security”.

The list of winners was published in the report "National Champions 2022: How they take care of our security," which was premiered during a conference on the subject. One of the experts who took part in the event was Krzysztof Dyki, CEO of ComCERT, an Asseco Group company. According to him, the technology industry should be developed on a par with other strategic branches of the Polish economy.

I don't see any reason why Poland couldn’t play the role of Israel. We have equally brilliant engineers. There is no problem for us to be manufacturers of cyber security technology, said Krzysztof Dyki. At the same time, he drew attention to the issue of investment, which is an essential element in the development of cyber security. When it comes to investments, we have a great deal to do. The level of investment determines the level of security, he concluded.

Good investor relations are based on teamwork. Of course, we have a separate IR department within the structures of Asseco, but in fact the team responsible for investor communication in the organization is made up of people from the reporting, controlling, marketing, PR, M&A, management office, legal office, compliance and process management department, as well as business divisions or subsidiaries. Of course, the support of the Management Board and its openness to contact with market representatives is invaluable. An IR officer alone can do little without the cooperation and involvement of others in the organization. The key to success is knowledge sharing and efficient and regular communication," said Joanna Paczkowska-Tatomir, Head of Investor Relations at Asseco Poland. In addition, conducting an effective IR policy is based on diversification and proper adjustment of communication channels and tools. At the time of the pandemic, we all functioned exclusively in the online formula. Today we operate in a hybrid model - we carry out part of our activities online, while we are very keen to participate in events that allow us to have direct contact with investors," she added.

Asseco is committed to transparency and equal access to information for all investors. As part of its regular IR activities, it organizes conferences every quarter in a hybrid mode (onsite and online). This event is available to any investor. During the conferences, the Management Board discusses the financial results of the reporting period, presents the outlook for the near future and answers questions from participants. Recordings of these events with transcripts, as well as investor materials such as presentations, fact sheets and financial data in Excel format, are published on Asseco's investor relations website. Since 2011, the company has made recordings of its General Meetings available on its website, and since 2020 it has allowed shareholders to participate in the meetings in an online format. It also maintains active communication via social media. In turn, investors can contact Asseco by emailing, calling or using platforms such as MS Teams or Zoom.

The presentation of awards to the companies rated highest in the investor relations survey took place during the Conference of the Chamber of Brokerage Houses (IDM). The winners, as every year, were selected in two parts of the survey: through votes of readers and individual investors, cast on the Parkiet daily's website, and through a questionnaire sent to financial institutions.

1. Accelerating the implementation of EDM - as of January 1 of this year, the financing of services by the National Health Fund (NFZ), in the area of Primary Medical Care (POZ), will depend on the reporting of medical events to the P1 platform and, as a result, the use of Electronic Medical Records (EMD). According to the Health Ministry's announcement, the P1 platform is expected to become the exclusive source of data for billing healthcare services in the coming years. Not all facilities are fully ready for this and need the support of technology partners to help them implement the right tools. On the other hand, as Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland, argues, it is also necessary to expand the EDM project itself. Ultimately, a patient's complete electronic medical record is to be available to all authorized specialists throughout Poland, regardless of where the patient is at any given time. At present, the EDM contains only part of the information and does not include, for example, medical history, as there is no precise definition of what this document covers. It is important to introduce both legislative changes and programs to encourage medical facilities to implement modern technologies.

2. Improving the ergonomics of applications for staff – up until now, most applications have been created with the aim of managing medical entities, supporting the internal processes of healthcare providers, as well as reporting and billing benefits. Meanwhile, as Krzysztof Groyecki emphasizes, these solutions should first and foremost be an effective tool in the hands of staff. "We want our applications to reduce the time and improve the quality of patient service. An example of a solution that plays just such a role are medical dashboards for doctors and nurses. Asseco's software includes pathways that allow the user to easily obtain the information necessary at a given stage of treatment."

3. Specialization of medical software - employees of different specialties working in particular areas of medical entities have their own specific needs, which are worth taking into account when creating technological solutions. According to Krzysztof Groyecki, functions of IT systems that are relevant to doctors and nurses should be available without the need to search for them among a large number of other software options. "Many of Asseco's solutions for the healthcare sector are tailor-made. We talk to representatives of individual facilities to learn about their needs and what information they would like to process digitally," Krzysztof Groyecki explains.

4. Cloud security - healthcare facilities are an extremely tempting target for cyber criminals, so it is extremely important to ensure the security of digital, sensitive medical data. It is difficult for individual hospitals or clinics to take care of the appropriate level of cyber security on their own, due to staff and budget shortages. As Krzysztof Groyecki of Asseco argues, the natural direction is to migrate to the cloud. Then its operator takes care of information security, ongoing monitoring of threats, as well as backup. An example of a solution used in Polish medical facilities is EDM in the cloud. It enables remote and secure access to data, facilitates compliance with regulations imposed on healthcare units, and eliminates the need to expand and maintain one's own infrastructure.

5. Artificial intelligence (AI) can help shorten queues to specialists - a sore point in Polish health care is the long waiting time to see a specialist. According to the Watch Health Care Foundation's (WHC) Barometer, in November 2022, it averaged about four months. Artificial intelligence can help solve this problem; while it certainly won't fix staffing shortages, it can support doctors in their daily work. There are many examples of AI use in healthcare, from digital assistants that are able to give prompts based on collected survey information, to systems that support diagnosis based on the recognition of X-ray or MRI images. As the vice president of Asseco points out, the development of telemedicine will depend on the profitability of such solutions. "If it is higher than that of stationary services, and in addition, telemedicine procedures will increasingly become part of products billed by the National Health Fund (NFZ), one can hope that this will contribute to reducing the negative effects of staff shortages," Krzysztof Groyecki concludes.

The companies with the best communication with the market will be selected in two parts of the survey by:

• Individual investors' and readers' ratings awarded through a survey on the "Parkiet" website,
• A survey addressed to representatives of financial institutions.

The awards for the best IR will be presented on March 2 at this year's conference of the Chamber of Brokerage Houses.

In the last year's ranking, Asseco was listed 3rd in the section conducted among institutional investors and analysts, and 4th in the section dedicated to individual investors.

Related links:

Information about "Parkiet" ranking

ComCERT experts from the Asseco Group predict that the new year will be equally challenging at best. The war in Ukraine or the development of attackers’ competence and technology are just a few of the challenges that security specialists will have to face. They will be supported in the fight against threats by Artificial Intelligence (AI), which, however, is also being used successfully by cybercriminals. In response to the growing number of attacks, EU authorities are working on a regulation concerning the digital resilience of critical infrastructure.

The most important trends in the area of cyber security according to experts from ComCERT of the Asseco Group.

1. Economic uncertainty will make it harder to fight cyber threats

In the new year, the fight against cyber threats will be extremely difficult. According to Krzysztof Dyki, president of ComCERT of the Asseco Group, there will be more attempted attacks, which has to do with the economic slowdown (investment restrictions causing greater risks) and the war in Ukraine. The expert emphasises that since the beginning of the outbreak of the armed conflict, cybercriminals have particularly often taken government institutions and critical infrastructure as targets, but they have not spared business either. The CISO (Chief Information Security Officer) and other security leaders should include in their plans, also financial ones, resources for threat intelligence activities to prevent current threats.

2. More cryptocurrency scams to come

The collapse of the FTX exchange in November affected the entire cryptocurrency market. Many investors came under pressure due to the uncertainty of what happened to their money. Cybercriminals carrying out fraudulent cryptocurrency transactions see their opportunity in the biggest crisis in more than a decade. Krzysztof Dyki of the Asseco Group predicts an increase in their activity in the coming year. In addition, accelerating inflation and rising interest rates, as well as the economic slowdown, will contribute to more cryptocurrency fraud. This is because in such conditions more people are looking for favorable financial offers and often lose vigilance.

3. Growing security in the financial sector

Not only the cryptocurrency market, but the entire financial industry is an attractive target for cybercriminals. Not surprisingly, the EU authorities are working on regulations to strengthen the security of organizations such as banks, insurance companies and investment funds. The Digital Operational Resilience Act (DORA) will introduce uniform requirements for the cyber security of networks and information systems of organizations operating in the financial sector. The changes will also extend to third parties providing IT-related services to them, such as cloud and business analytics. The member states will have to implement a national strategy to increase the resilience of critical entities, and will have to conduct a risk assessment at least once every four years. If the regulation is completed as early as 2023, covered entities will have to comply with the new requirements. Depending on the current state of cyber security systems, potential investments could significantly absorb both the IT team's time and put a strain on the organization's budget.

4. Artificial intelligence (AI) - a weapon of both sides

Artificial Intelligence and Machine Learning have made a significant contribution to increasing the level of cyber security. These technologies play an important role in building systems responsible for detecting threats. The use of AI in the process of analyzing the security of code and software behavior allows to automate many activities and see how the operation of a particular application affects the entire organization. Unfortunately, Artificial Intelligence is also an effective weapon in the hands of cybercriminals. They use fictitious entities to purchase solutions based on it, or hack into the systems of legitimate organizations. They then take control of AI solutions and use them to test the capabilities of the malware they plan to exploit.

How can technology be used to address today's economic challenges, including rising energy prices, disrupted supply chains and a shortage of skilled workers? How does technology enhance transaction security in the digital economy? Listen to speakers, debates and the latest case studies and learn how to effectively optimize and automate business processes in your organization. On May 23, 2023, we will meet you in Warsaw and online at the Trusted Economy Forum, one of Europe's largest conferences on the digital economy. The event will be held under the slogan "On the edge - the new reality in the digital world". Save the date now to meet the global digital market experts!

Trust in a digital world

Today it is hard to imagine doing business without digital tools. We use electronic signatures and seals as well as cloud-based document management platforms increasingly more frequently. They strengthen the level of trust in business processes, allowing us to cooperate online with contractors, serve customers from all over the world or manage a distributed team remotely.

At a time when technology so powerfully changes business models and shapes everyday life, the greatest value remains trust, both between participants in the economic ecosystem and in the technology itself – one that is uniform, secure and universal, said Ewelina Chudy, Head of the Organizing Office of the Trusted Economy Forum. With the key role of trust in the digital economy in mind, Asseco is inviting you to discuss #TrustedEconomy. Our experts will also present the practical side of digital transformation and examples of companies and institutions that have successfully implemented these solutions, she added.

Customers choose online solutions

Without trust, there would be no success of e-commerce, e-banking and many other industries where digitization has eliminated the need for a physical presence. In the financial sector, for example, the number of mobile banking users grew from 15 million to 18 million in one year, and in online banking that figure increased from 20 million to 21.7 million. Physical or geographic boundaries no longer matter - what is key is the availability of online services anytime, on any device and for any group of users.

On the brink of challenges and threats

The greater the share of digitization in customer, business and government relations, the more the importance of cyber security to guarantee trust with the other side of the transaction increases. The challenge of today's business is to skillfully navigate the edges of the challenges and risks, as well as the opportunities and benefits of the economy’s digitization. The role of technology partners providing proven digital services is to ensure that trust backed by cyber-security remains a driver of the digital economy.

About the conference

The idea of the Trusted Economy Forum is to integrate the technological, business, legal, administrative and academic communities, with the aim of building digital societies, not only at the national level, but also globally. The conference is a space for discussion, exchange of views and experiences. Last year's edition was attended by more than 40 experts, and nearly 630 people registered for the event.

Learn more at: https://trustedeconomyforum.com/pl/ and save your date on May 23

Last year, sales of Asseco's proprietary products and services totaled PLN 11.3 billion, and consolidated operating profit reached PLN 1.5 billion.

Since we started as a small technology company, which today we would call a startup, we have steadily focused on what matters most to us - software for most sectors of the economy. A clear vision of development, strategy and consistency in action have made the Polish company extremely successful around the world, and in such an innovative field as IT. We would like to thank the customers who trusted us at the beginning and have been with us ever since, and all those who have joined us in more than 30 years of our activity," said Artur Wiza, Vice President of Asseco Poland. This distinction and the position as a leader in the ITC sector is a great credit to all Group employees who are involved in the development of Asseco on a daily basis and support the activities of our customers," he added.

A huge problem in the Polish health care is long queues to spas. Waiting time for spa treatment is several months - or even several years at some facilities. Complications from COVID-19 have increased the number of people willing to continue inpatient or outpatient treatment. Earlier this year, the Health Ministry announced a draft of changes aimed at facilitating access to spas and rewarding facilities that provide better services. It will be a patient, rather than a doctor as before, who will be able to choose where they want to be treated. As experts from Asseco note, cloud-based IT tools that facilitate the management of a health care unit will play an important role in increasing competitiveness.

An example of a medical facility that successfully uses cloud computing technology is the Ministry of Internal Affairs and Administration's Health Resort in Sopot. The decision to implement the cloud was motivated by the desire to create an environment that enables the development, storage, indexing and sharing of electronic medical records (EDM). Thanks to this, medical employees save time, which they can allocate to treating patients - in the long run it translates into a reduction in queues to spas, says Agnieszka Kowalczyk, director of SP ZOZ Sanatorium Uzdrowiskowe MSWiA in Sopot.

During the first year, the Ministry of Internal Affairs and Administration's Health Resort in Sopot processed more than 410,000 medical events. Over 500 documents are indexed each month. Since the start of the project, more than 4,600 indexes have been sent and updated.

We have as many as 80 active accounts used by doctors, nurses and physical therapists. The implementation was preceded by training courses for employees on the correct recording of data and documents used to communicate with Chmura dla zdrowia’s repository, adds Agnieszka Kowalczyk, Director of SP ZOZ Sanatorium Uzdrowiskowe MSWiA in Sopot.

Asseco's solution streamlined the work of the spa, but also resulted in lower costs and helped ensure data security. The Sopot facility wanted the migration to the cloud not to interfere with network infrastructure and not to require investment in additional resources for storing and sharing e-Documentation. EDM in the cloud makes it easy to increase data storage space as the organization's needs change, says Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

The security of sensitive data is crucial in healthcare. Its proper protection requires the hiring of highly skilled cybersecurity specialists, which entails the need to secure funds for this purpose in the budget of a medical facility.

The Chmura dla zdrowia service has a feature that allows us to verify the credentials of the person who submits the document request. This ensures that patient data does not end up in the wrong hands and we are able to ensure compliance with GDPR, adds Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

The company is present in 60 countries around the world and employs nearly 32,000 people. It has been growing organically as well as through acquisitions, of which it has made more than 120 since 2004. Asseco's companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

We are also constantly increasing the scale of business through acquisitions. In the first nine months of 2022, 10 new companies joined the Group. Despite the volatile macroeconomic environment, demand for our solutions persists, as evidenced by our order backlog, growing in fixed exchange rates by 10 percent compared to the backlog a year ago, said Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

Asseco continues to grow rapidly. After three quarters of 2022, it already achieved PLN 12.8 billion in sales revenues, up 24% year-on-year. In turn, consolidated operating profit stood at PLN 1.4 billion, up 29%.

The first three quarters of 2022 were a period of stable growth for us. We recorded improved results, despite difficult business environment and rising labor costs. This was possible due to our unwavering strategy of geographic, product and sector diversification, which, with the high rate of digitization in the economy, allows us to grow steadily, said Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

After nine months of this year, non-IFRS* operating profit amounted to PLN 1.5 bn (EUR 315 m), up by 15% year-on-year, while non-IFRS net profit attributable to Asseco Poland’s shareholders stood at PLN 409 m (EUR 87 m), up by 6%. For the Asseco Group, the non-IFRS figures provide important information on its financial position, as well as for assessing the development of its business.

The Group increased sales in all operating segments, thanks to a consistently pursued strategy of geographic, product and sector diversification of business. After three quarters of this year, foreign markets represented by Formula Systems and Asseco International accounted for 90% of the Group's sales.

Revenues in the Formula Systems segment amounted to PLN 8.6 bn (EUR 1.8 bn), which marked an increase of 29%, and operating profit amounted to PLN 885 m (EUR 189 m), up by 70% from the corresponding period in 2021. The reported level of operating profit in this segment is significantly and negatively impacted by additional amortization costs of intangible assets recognized under the combination settlement (PPA) and the costs of share-based payment transactions with employees (SBP), which reduced it by PLN 245 m (EUR 52 m) over the three quarters of 2022. At the same time, in the reporting period, the operating profit was favorably affected – in the amount of PLN 197 m (EUR 42 m) - by the sale of shares in Infinity Labs R&D. After taking these adjustments into account, the Formula Systems segment's non-IFRS operating profit stood at PLN 933 m (EUR 199 m), 27% higher than in the same period a year ago.  In the Asseco International segment, sales increased by 18% to PLN 3.0 bn (EUR 638 m), and operating profit reached PLN 254 m (EUR 54 m). After non-IFRS adjustments, this segment's operating profit was similar to last year's levels, totaling PLN 321 m (EUR 68 m). The Asseco Poland segment generated revenues of PLN 1.3 bn (EUR 268 m), up by 12% from a year earlier, and operating profit was 4% higher at PLN 215 m (EUR 46 m).

The Asseco Group's revenues are very well diversified by sectors. After 9 months of 2022, they were distributed as follows: general business - 42%, banking and finance - 34% and public institutions - 24%.

In the third quarter of this year alone, the Group recorded sales of PLN 4.5 bn (EUR 959 m), which marked an increase of 28%. Operating profit stood at PLN 422 m (EUR 90 m) – up by 13%, and non-IFRS operating profit was PLN 512 m (EUR 109 m) –  up by 12%. Net profit attributable to shareholders of the parent company amounted to PLN 128 m (EUR 27) –  up by 6%, and in non-IFRS terms at PLN 138 m (EUR 30 m) – up by 1%.

The first three quarters of 2022 were a period of stable growth for us. We recorded improved results, despite difficult business conditions and rising labor costs. This was made possible by our continued strategy of geographic, product and sector diversification, which, with the high rate of digitization in the economy, allows us to grow steadily. The nature of our business allows us to focus on recurring revenues, which provides financial stability and predictability. We are also constantly increasing the scale of the business through acquisitions. In the first nine months of 2022, 10 new companies joined the Group. Despite the volatile macroeconomic environment, demand for our solutions persists, as evidenced by our order backlog growing in fixed exchange rates by 10% compared to the backlog a year ago. At the same time, we take into account external factors related to the economic situation in Poland and the world, and with so much uncertainty, we approach the future with caution, says Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

Asseco's consolidated order backlog for 2022 at floating exchange rates, in the area of proprietary software and services, is now worth PLN 12.9 bn (EUR 2.8 bn), 19% higher than in the same period last year. Recalculating the backlog for 2022 at the rates at which the backlog for 2021 was converted, the increase is 10% to PLN 11.9 bn (EUR 2.5 bn).

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

The company's success in the ranking was influenced by its revenue from operations, high profitability, one of the highest ratios of spending on research and development (R&D), and a high score for the number of active clients in the financial sector. Cooperation with institutions in this industry accounts for almost 30 percent of Asseco Poland's revenues.

We focus on innovative solutions that respond to the dynamically changing financial services market, said Marek Lulek, Director of the Sales Department, Asseco Poland, who received the award.  One such product is Asseco BooX (Bank out of the Box), Poland's first universal process and technology platform for selling and handling financial products. It can serve as a foundation for building a new bank, as well as be used to rebuild or modernize an existing financial institution, he added.

For the cooperative bank sector, Asseco offers the Common Information Platform (WPI), a comprehensive technology and process solution for the bank, made available in a SaaS model that can be used by multiple institutions.

The 17th edition of the IT@Bank ranking is an assessment of technology companies prepared on the basis of indicators representing the achievements of a given company in the last full fiscal year. The organizer and publisher of the compilation is the Financial Monthly "Bank".

Drones play an extremely important role in modern armies. They have both offensive and reconnaissance applications. They enable safe reconnaissance of the area of operations from the air, giving a significant advantage over the enemy.

The army buys Polish drones

Along with Flyeye and Warmate, Mayfly is another Polish-made unmanned aerial vehicle that has made its way to the Polish army.

The Mayfly Unmanned Aerial System is a solution created from scratch by Polish engineers. This means that we have full control over the safety of both hardware and software. It was critical to meet stringent military standards. We coped with this challenge, although it required months of research and testing, says Tomasz Mosiej, team leader for unmanned platforms at Asseco. Thanks to this implementation, the Asseco Group, which primarily deals with software, has entered a new area of business. This product can be used not only by the military, but also by other uniformed services in Poland and abroad, particularly in other NATO countries, he adds.

Drones for special tasks

The Asseco drone is equipped with an observation head having two sensors: one is working in the visible light spectrum, the other is a thermal imaging one for nighttime operations. The system is designed to operate in harsh weather conditions, thus meeting a number of Defense Standards. To operate it, all is needed is a tablet with Asseco software and a controller.

The solution uses an innovative communications system and dedicated, Polish-made components. This makes the device difficult to detect when performing missions in areas where anti-drone systems currently available on the market are used. The system is adapted to operate using map formats and numerical terrain models currently used by the military. The built-in three-dimensional map module allows missions to be carried out anywhere in the world without worrying about "NO-FLY" zones imposed by any entity.

The equipment is ready for use in just a few minutes. Asseco's drones are perfect for close observation, when quick decisions need to be made, such as whether it is safe enough for a special ops to enter a building or room, explains Tomasz Mosiej.

Intelligent weaponry of the modern army

Used by the military, drones are an excellent complement to other means of warfare, such as tanks, artillery, and aircraft. Drones have numerous applications, reduce personnel losses, and are cheaper to produce than other military hardware. It is generally accepted that the first armed conflict in which drones were used on a very large scale was the war between Armenia and Azerbaijan in 2020. Since then, drones have become an important part of the weaponry of many of the world's armies. It is drones that largely enable Ukraine's military to resist Russian aggression. According to experts, the drones are responsible for neutralizing dozens of Russian tanks or armored vehicles. Now the modern equipment will also support the Polish army.

2021 was another very good year for Asseco, said Adam Góral, CEO of Asseco Poland. We focused on selling our proprietary software, providing related services, as well as increasing the scale of our business through acquisitions. Last year we were joined by 18 new companies operating in the Israeli, European and American markets, he added.

Asseco is a leader in digitization in Poland* and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries around the world and employs nearly 32,000 people. It is growing organically as well as through acquisitions, of which it has made more than 120 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to the Computerworld TOP200 report for 2022.

The compilation covers 500 brands from 50 industries. It presents, among other things, the image of individual brands in press publications, online and social media. Asseco once again topped this ranking for a consecutive year. The company again achieved a very high publication sentiment index, which evaluates the quality of the message. In addition, nearly 43,000 materials focusing on the company were published from July 2021 to June 2022.

The strength of the Asseco brand is also recognized internationally. The software manufacturer is the only Polish IT company to be included in the "Europe 500 - The most valuable and strongest European brands" ranking prepared by Brand Finance this year.

The purpose of the "Top Brand" ranking is to recognize the brands that are the most popular in the media. The number of publications is evaluated, as well as the scale of their reaching the public and the quality of the message. The ranking is prepared by "Press" magazine and PSMM Monitoring & More (formerly PRESS-SERVICE Media Monitoring).

Asseco, which started its operations in Poland, is now an international business. In 2021, the foreign markets represented by the Formula Systems and Asseco International segments together accounted for nearly 90 percent of the Group's revenues. During this period, 18 new companies joined Asseco. In total, since 2004, the Asseco Group has made more than 120 acquisitions. Its companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

2021 was another very good year for Asseco. In the face of the continuing coronavirus pandemic, the Asseco team demonstrated great commitment, flexibility, responsiveness to customer needs and adaptation to rapidly changing market requirements. We consistently pursued a strategy of geographic, sectoral and product diversification of business. We focused on selling our proprietary software, providing related services, as well as increasing the scale of our business through acquisitions, concluded Adam Góral, President of the Management Board of Asseco Poland.

The ranking was published in the daily newspaper Rzeczpospolita, which is the publication's media partner.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key sectors of the economy. It is present in 60 countries around the world and employs nearly 32,000 people. It is growing organically as well as through acquisitions, of which it has made more than 120 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

The ranking "Europe 500 - The most valuable and strongest European brands" was compiled by Brand Finance, a consulting firm specializing in brand valuation. Each year Brand Finance analyzes the world's 5,000 largest brands, assessing which are the strongest and most valuable. The rankings prepared are certified by the Marketing Accountability Standards Board (MASB) under the Marketing Metric Audit Protocol (MMAP).

For years, Asseco has had the status of a stable dividend company that continuously shares profits with its shareholders. Since 2007 the company has paid out PLN 3.0 billion in dividends. From the 2021 profit, PLN 279 million went to its shareholders, which meant PLN 3.36 per share and accounted for 60% of the Group's consolidated net profit.

Asseco Poland is a leading Polish IT company listed on the Warsaw Stock Exchange (WSE). With a capitalization of over PLN 7 billion at the end of 2021, it is a member of the WIG20 index. It is also the largest company in the WIG-informatyka sector index.

The Asseco Group companies have for years occupied top positions in the "Golden Hundred Companies of Podkarpacie" ranking. In the list of companies with the highest profitability, Asseco South Eastern Europe was ranked 1st. In turn, Asseco Poland was ranked 2nd among the companies with the highest net profit.

Leader in digitization

Asseco Poland has been a leader in the services sector in Podkarpacie for years. In addition, the company is a leader in digitization in Poland*. It heads the Asseco Group, which is the largest software producer in the Central and Eastern European region. For more than 30 years it has been developing technologically advanced software for companies in key economic sectors. The company is present in 60 countries around the world and employs nearly 32,000 people. In 2021, it achieved record revenues of PLN 14.5 billion.

*according to the Computerworld TOP200 report for 2022.

Adam Góral is the creator of Poland's largest IT company and capital group, which is present in 60 countries around the world. With a development strategy focused on building expert competence, developing its proprietary products and increasing the scale of its business through acquisitions, Asseco is also the largest software producer in Central and Eastern Europe.

Since the beginning of his business career, Adam Góral has actively supported Polish entrepreneurship, engaging in the promotion of Polish companies at home and abroad. He actively participates in the public debate on Polish entrepreneurship, promoting a modern, competitive and stable economy. The Asseco he heads is the undisputed leader of digitization in Poland, providing strategic IT solutions for institutions and companies in key sectors of the economy. During the pandemic, Asseco created IT systems and solutions that, within the framework of financial shields, made it possible to support Polish entrepreneurs.

Adam Góral has managed the company operationally since its inception, setting the direction of development and building an entrepreneurial culture. He is a promoter of paying taxes at the place where income is achieved and applies this approach to Asseco companies around the world.

The title of the "Economic Personality of the Year 2022" was awarded by the Federation of Polish Entrepreneurs in four categories. In addition to Adam Góral, the award went to Krystyna Aldridge-Holc, among others. The president of the Polsat Foundation won in the "Social/non-governmental activity" category. The Polsat Foundation provides help to small patients and financially supports hospitals and medical centers throughout Poland, renovating them or providing them with modern medical equipment.

Asseco is the largest software producer in Central and Eastern Europe, with proprietary products and services accounting for nearly 80 percent of its revenues. The Asseco Group offers, among other things, state-of-the-art systems for banking, including core systems, omni-channel solutions for online and mobile banking, as well as specialized, off-the-shelf products that only need to be tailored to the specifics of the client's business. Its portfolio also includes solutions available in the cloud such as Asseco BooX, a comprehensive platform for banking and financial services and processes. It also provides clients in the banking and insurance sectors with solutions for data warehousing, AML process support and electronic document workflow platforms. The Asseco Group's sales to the financial sector in 2021 exceeded PLN 5 billion, accounting for 35 percent of its total revenues.

The Asseco Group also cooperates with large international insurance companies. Sapiens International, the Group's competence center in this area, is a leading global provider of software for the insurance sector worldwide. In addition, Asseco offers comprehensive IT solutions to support the payments sector, the work of brokerage houses, leasing and factoring companies.

From the very beginning of our activity, the financial sector and especially the banking sector have been very important to us. We started with solutions for banks and continue to create modern and technologically advanced solutions for this industry. Our strong performance in the banking and finance sector, to a large extent, is thanks to our long-standing cooperation with the existing customers of Asseco Poland, Asseco Central Europe or Asseco South Eastern Europe, as well as to our growing base of new customers worldwide, under the development of Sapiens International, Matrix IT, Magic Software or Asseco PST," said Adam Góral, President and Founder of the Asseco Group. Our strengths are our proprietary products and very strong expertise in the finance and banking sectors. We are not only a provider of state-of-the-art IT solutions, but first and foremost a proven partner that constantly cares about the development of systems that allow banks and financial institutions to build competitive advantage and value for their clients, he added.

The report "IDC FinTech Rankings: Top 100" includes providers of technology solutions (hardware, software and services) for the banking, insurance, capital markets and fintechs supporting these sectors. The main criterion for the list was the amount of revenue achieved in these areas.

Asseco Poland is the second largest CIT payer in the eastern macro-region, i.e. the Podlaskie, Lubelskie and Podkarpackie voivodeships. Scale and consistency in paying taxes is part of the strategy of Poland's largest software developer.

Our strategy is defined by our motto: We think globally, we act locally, said Adam Góral, CEO of Asseco Poland.  We take a responsible approach to business and are guided by local patriotism, which is why Asseco companies pay taxes in the places where they generate revenues and support local communities. This is because such a business model allows for long-term, stable development in the modern world, he added.

The purpose of the report "CIT Leaders - How Polish Companies Pay Taxes" is, among other things, to facilitate the interpretation of data on CIT taxpayers and to distinguish those businesses that reliably pay taxes. The report compares CIT taxpayers within the same industry, compiles all available data on CIT paid in 2012-2020, and simultaneously analyzes four indicators: CIT in absolute terms, in relation to revenues and in relation to value added, as well as the growth rate of payments.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. Last year alone, it achieved record revenues of PLN 14.5 billion, up 19 percent from 2020. It started its operations in Rzeszów, as a company producing IT systems for cooperative banks. Today, it employs nearly 32,000 people and develops high-tech software for companies in key sectors of the economy. The Asseco Group companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Asseco Poland is an IT giant with ambitions to be the largest Polish producer of software for companies in key economic sectors. Since starting its international expansion in 2004, the company has built a strong Group operating in 60 countries around the world, summarized Bogusław Chrabota, editor-in-chief of the Rzeczpospolita daily, who presented the award to Przemysław Sęczkowski, vice president of Asseco International, during the Economic Forum in Karpacz.

In this year's edition of the "Most Important Companies for Poland" ranking, the 250 largest companies whose financial data was publicly available were evaluated. The analytical stage of the competition took into account, among other things, the company's share of Poland's GDP, the ratio of employment to average employment in the economy and the share of taxes in the company's revenues. The second stage involved voting by the ranking's editorial award committee.

For the assessment of the financial situation and development of the Asseco Group's business activities, the basic data published in non-IFRS* terms is an important piece of information. In the first half of this year, non-IFRS operating profit amounted to PLN 964 million, up by 17% versus the first half of the previous year, and non-IFRS net profit amounted to PLN 271 million, up by 8%.

The Group pursued its strategy of geographic, product and sector diversification of its business, resulting in increased sales in all operating segments. In H1 2022, foreign markets represented by Formula Systems and Asseco International accounted for 90% of the Group's total sales.

Revenues in the Formula Systems segment amounted to PLN 5.5 billion, up by 27%, and operating profit reached PLN 635 million, having increased by 87% versus the corresponding period in 2021. The reported level of operating profit in this segment is significantly and negatively impacted by additional amortization costs of intangible assets recognized under the acquisition settlement (PPA) and costs of equity-settled transactions with employees (SBP), which reduced it by PLN 162 million in H1 2022. At the same time, in the reporting period, operating profit in the amount of PLN 192 million was favorably impacted by the sale of shares in Infinity Labs R&D. After taking these adjustments into account, the Formula Systems segment's non-IFRS operating profit stood at PLN 605 million, which marked an increase by 27% versus the same period last year.

In the Asseco International segment, sales rose by 15% to PLN 1.9 billion, and operating profit reached PLN 155 million.  The segment's non-IFRS operating profit was 3% higher year-on-year, reaching PLN 213 million.

The Asseco Poland segment generated PLN 838 million in revenues, 12% more than a year earlier, and operating profit was 2% higher at PLN 141 million.

Asseco's revenues are very well diversified by sector. In H1 2022, they were distributed as follows: general business segment - 43%, banking and finance segment - 33%, and public institutions segment - 24%.

In Q2 2022 alone, the Group recorded sales of PLN 4.2 billion, which marked an increase by 23%. Operating profit was PLN 540 million (up by 54%), and non-IFRS operating profit reached PLN 484 million (up by 13%). Net profit attributable to the shareholders of the parent company stood at PLN 141 million (up by 1%), and in non-IFRS terms at PLN 147 million (up by 10%).

The first half of the year was positive for us. Despite the difficult situation in the economy, we maintained the upward trend in our financial results. We reported revenue growth in all business segments. Our geographic, product and sector diversification of business and strong demand for digital solutions allow us to grow steadily. On a non-IFRS basis, our operating profit grew by 17% and non-IFRS net profit by 8%. The lower growth rate of non-IFRS operating profit vs. non-IFRS net profit is due to our sales mix and the more dynamic growth of the places where we do not consolidate 100% of net result, i.e. mainly the Formula Systems Group companies. Non-IFRS operating profit of the Asseco Poland segment, which is consolidated at the net level practically in its entirety, and for which there is no exchange rate effect, increased by 2%. We see these increases as a great success in such a turbulent environment, comments Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

In the first 6 months of 2022, we executed servicing and development contracts for existing customers. We also signed new long-term contracts. We have consistently pursued a strategy based on our proprietary products and M&A. In the first half of this year, 7 new companies joined the Asseco Group. We approach the future with caution, taking into account the macroeconomic situation and the increase in labor costs. However, we are not slowing down when it comes to contracting new projects, which is confirmed by the double-digit growth of Asseco's order backlog for 2022, added Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

Asseco's consolidated order backlog for 2022 in floating exchange rates, in the area of proprietary software and services, is now worth PLN 12.5 billion and is 24% higher than in the same period last year. In constant exchange rates, in which the backlog for 2021 was converted, the increase is 11% to PLN 11.2 billion.

*Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized as part of the merger settlement (PPA), for the cost of equity-settled transactions with employees (SBP), and for income and expenses related to company acquisitions/sales and one-time events (and related tax effects).

Built by Adam Góral, the international federation of companies is an alternative to large IT corporations. The group companies are united not only by common business goals, but above all by vision, values and partnerships. They are software companies, producing high-tech solutions. Each of them retains its unique character and freedom of action. As a result, they have offerings tailored to the needs of the market in which they operate and managers with long-standing relationships on the ground. This independence makes them think and act like entrepreneurs rather than employees of a large corporation. On the other hand, they can draw on the potential of the entire Group, carrying out joint international projects as needed, which greatly increases their competitiveness.

The idea of the "50 after 50" plebiscite was to honor entrepreneurs and managers over 50, who, possessing extremely valuable capital such as knowledge and experience, made courageous business decisions. The competition's chapter included representatives of investment funds, companies that advise entrepreneurs and editors of the Forbes magazine.

For a cooperative bank, WPI means elimination of investment and predictability of costs. The platform is available in a cloud model, which reduces the costs associated with having separate infrastructure and resources to maintain them. Asseco takes over responsibility for hardware infrastructure, server room maintenance, software licenses and updates, as well as activities such as day/month/year closures. Within a single subscription fee, cooperative banks receive everything necessary for the day-to-day operation and development of a modern financial institution. New bank offerings can therefore be implemented faster, and common accounting, sales, or management information processes reduce costs and do not limit the banks' autonomy in terms of trading parameters, interest rates, or fees and commissions charged, among other things.

For more information, please see: https://wpi.asseco.com/

In 2021, Asseco reached PLN 14.5 billion in revenues, which marked an increase by 19 percent versus the previous year. This was possible thanks to a consistently implemented strategy of business diversification, as well as intensive digitization in the economy. During this period, the Group’s companies implemented complex IT projects in virtually all areas of the economy, including banking, energy, telecommunications, trade, as well as public and local government administration and health care. In 2021, Asseco established Asseco Cloud to support customers in designing, implementing and operating cloud solutions. Obtaining the title of the largest exporter was possible thanks to a consistently pursued strategy of international development. The Asseco Group is present in 60 countries around the world, on six continents. The Group comprises 327 companies, including 297 foreign entities. Since 2004 Asseco has made 120 acquisitions of companies in various parts of the world, and in the first quarter of this year three more entities joined the Group.

When we went public a dozen years ago, our goal was to build a strong position in the Central and Eastern European market, Slovakia, the Czech Republic, the Balkans, Germany - and we accomplished that. Add to that Israel and the great importance of Formula Systems not only in that market. I also think about the sector and product dimension all the time. We remain in a federation model, but I am particularly keen on integrating teams responsible for specific areas, says Adam Góral, President of the Management Board of Asseco Poland.

2021 was another very good year for Asseco. In the face of the coronavirus pandemic, the Asseco team demonstrated great commitment, flexibility, responsiveness to customer needs and adaptation to rapidly changing market requirements. We consistently pursued a strategy of geographic, sectoral and product diversification of business. We focused on selling our proprietary software, providing related services, as well as increasing the scale of our business through acquisitions, said Adam Góral, President of the Management Board of Asseco Poland.

The ranking of the most successful CEOs of companies listed on the Warsaw Stock Exchange was compiled by the editors of "ICAN Management Review Poland," who evaluated the companies based on three criteria: total shareholder return, change in the nominal value of capitalization and financial ratios.

The development of the CSIRE system requires the migration of data from about 300 energy market participants. This is an unprecedented event in the Polish energy industry. The challenge will be both the amount of data transferred to the system and the need to standardize the way it is collected and processed by many entities operating in the Polish market.

The energy industry is one of the key sectors for Asseco, with which we have been working effectively for many years. Our IT solutions support the billing of 60 percent of electricity consumers in Poland. Our cooperation with PSE and the implementation of the data migration project is a great opportunity for us to participate in a very important stage of the transformation of the Polish energy market, one of the milestones of which is the development of CSIRE, says Tomasz Bendlewski, Director of the Energy and Gas Division of Asseco Poland.

CSIRE is scheduled to start operating in July 2024. One of the tasks, under the contract between PSE and Asseco, will be to organize data into a uniform format, which will ensure standardization and full automation of processes in the retail electricity market, including, among others, switching vendors. The scope of the contract includes the preparation of a data migration tool and its successive migration to prepare the initial data set for the launch of CSIRE. This process will prepare the source data, locate loopholes and irregularities, complete or correct them, and identify possible inconsistencies in the data of energy sellers and power system operators.

The Central Energy Market Information System (CSIRE) will collect and process energy market information necessary for the implementation of energy market processes specified in the law - including the process of changing electricity sellers and making settlements for the supply and sale of electricity. The most important tasks of CSIRE are to ensure effective and secure exchange of information in the electricity market, which will allow its participants to realize their statutory rights and obligations. CSIRE will unify and streamline market processes and the flow of information among market participants. It will enable end users to access their own energy market information (including metering data) free of charge, as well as improve competitiveness in the sector. It will also provide free access to selected statistical data resulting from energy market processes, as well as to data enabling market participants to offer new products and services. Polskie Sieci Elektroenergetyczne, designated in the Energy Law as the Energy Market Information Operator (OIRE), is responsible for implementing CSIRE. You can learn more about OIRE and CSIRE at www.pse.pl/oire.

In 2021, Asseco generated PLN 14.5 billion in revenues, up 19 percent year on year. The record-breaking financial results enable the company to invest in further expansion, for which it has allocated PLN 425 million in Poland alone, and nearly PLN 1 billion in the entire Group. In addition, the company is a leader among providers of IT solutions and services for large companies and enterprises, as well as for the public administration, uniformed services, financial and insurance sectors. It is also the largest provider of custom-made software, ERP systems, and the following services: maintenance, training, and in the cloud model. Guided by the idea of local patriotism, Asseco pays taxes in the place where it earns its revenues. Being the leader of the Polish IT industry, it is also the largest payer of CIT.

31 years ago there were three of us, today there are 30 thousand of us. Consistency in action and good relationships with clients pay off. I assumed that in order to build an ambitious strategy you always have to remember about the most important thing, the customers and providing them with the best IT solutions. I am convinced that over the years we have managed to strike a balance between the interests of our shareholders, management and employees, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco in the Computerworld TOP200 ranking:

Asseco is the largest IT company in Poland and Central and Eastern Europe. For over 30 years it has been creating technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries worldwide and employs about 30 thousand people. It has been growing both organically and through acquisitions, of which it has made over 115 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Computerworld TOP200 is a prestigious report on the ICT industry in Poland. Its aim is to provide a comprehensive presentation of the condition of the ICT sector and the prospects and challenges it faces. For 30 years it has been the main source of information on market leaders in particular segments.

According to a report compiled by Asseco, the main barrier preventing companies from digitizing documents is the shortage of specialists in this field. It is felt by more than 60% of companies. It is estimated that Poland currently lacks 50,000 IT professionals including: programmers, developers and architects, but also managers who are capable of leading an organization through digital change.

The IT industry has long struggled with a shortage of specialists, which is driving up the cost of providing services. Digitization covers so many areas of our lives that the shortage of human resources will translate into the entire economy in the long term. Our survey shows that the problem is also recognized by entrepreneurs in other industries who would like to digitize their business, but often do not have the knowledge and competence in their teams to implement the right solution. The problem arises from the very beginning, as many companies are not even able to formulate their expectations when it comes to digital or cyber security solutions. And digitization requires not only technical expertise, but also a comprehensive approach at different levels and an understanding of the change within the organization. Therefore, a broad cooperation of various business communities, industry experts, administration and universities is needed in order to improve the competencies of current employees on the one hand, and on the other, to intensively develop the education system for future generations of IT professionals. Asseco, as a leader in digitization in Poland, is already involved in initiatives such as Cyber Science to support the academic community in the preparation of curricula and specialized fields of study," says Andrzej Dopierała, President of Asseco Data Systems, Vice President of Asseco Poland

Entrepreneurs also see poor legal environment (43%) among the barriers to digitization, as well as a lack of good, industry-specific examples of successful digitization cases that have brought real benefits to companies. Such a limitation is seen by 41% of respondents.

The report, "The Paperless Gap and Other Challenges on the Road to Digitization of Documents in Business," is based on a survey conducted by Civitta Poland on behalf of Asseco Data Systems using the CATI method on a sample of 316 companies with 100 or more employees. The distribution of the surveyed sample reflects the structure of companies in Poland in this size segment. The surveyed companies included entities from manufacturing, wholesale and retail trade, healthcare, construction, finance and insurance, and transportation, among others.

The results of the entire report will be presented on June 8 in Warsaw at the Trusted Economy Forum. Register for the event at www.trustedeconomyforum.pl.

In 2021, we focused on sales of proprietary software and provision of related services, as well as on increasing the scale of our business through acquisitions. Last year we were joined by 18 new companies operating in the Israeli, European, and American markets, said Adam Góral, President of the Management Board, Asseco Poland.

The company has been growing both organically and through acquisitions, of which it has made almost 120 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange. Asseco is the leader in digitization in Poland* and the largest IT company in the CEE region.

*according to the Computerworld TOP200 report for 2020.

2021 was another very good year for Asseco. In the face of the continuing coronavirus pandemic, the Asseco team demonstrated great commitment, flexibility, responsiveness to customer needs, and adaptation to rapidly changing market demands. We consistently pursued a strategy of geographical, sectoral and product diversification of our business. We focused on selling our proprietary software, providing related services, and on increasing the scale of our business through acquisitions. All this translated into strengthening our position in all segments and business sectors. Therefore, we achieved record-breaking financial results, both at the level of revenues and profits, while maintaining profitability, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco is the leader of digitization in Poland* and the largest IT company in the region of Central and Eastern Europe. For over 30 years, it has been developing technologically advanced software for companies from key sectors of the economy. The company is present in 60 countries around the world and employs 30,000 people. It develops both organically and through acquisitions - it has carried out over 115 of them since 2004. Asseco's companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and Tel Aviv Stock Exchange.

*according to Computerworld TOP200 report

Asseco, guided by local patriotism, supports Podkarpacie - the region where the company was established and where its headquarters are located. On the occasion of its 30th anniversary, Asseco organized the #AssecoForChildren campaign. It was a joint charity initiative of Asseco Poland and the Podkarpacki Regional Branch of the Polish Red Cross (PCK), aimed at supporting the students most in need in their access to knowledge and further education by providing them with 300 laptops with mobile Internet from the Plus network. It was addressed to the most needy and ambitious students of primary and secondary schools who live and study in Rzeszów or the Podkarpackie Voivodeship. To children who needed a computer to learn, but the material conditions of their families did not allow for its purchase. In particular, to those students who showed engagement and activity in learning. The Mayor of the City of Rzeszów and the Marshal of Podkarpacie Voivodship have given their support to the project.

In addition, next to its office in Rzeszów, at 14 Olchowa St., Asseco has created a flower meadow covering an area of 3,000 m2. The initiative aims to minimize the negative impact on the environment by increasing biodiversity and creating a natural habitat for insects, amphibians and birds. This type of solution also helps in water retention. The flower meadow has been created on the grounds of one of the plots belonging to the Asseco, which also takes care of its maintenance by, among other things, mowing it every year.

Another year in a row, the report included the annual Asseco employees' charity campaign "We help", whose aim is to support those most in need and motivate employees to get involved in these activities. Employees nominate selected organizations for financial support, e.g. orphanages or single mother's homes, hospices, foundations supporting poor families. From 2019, they can nominate pro-environmental initiatives (100% directed at environmental protection and those that are part of aid projects of a different nature, e.g. introduction of waste segregation in a given center). Since it is key to reach as many people as possible, an important criterion for selecting beneficiaries is the scale of the organization's activity and the employee's commitment.

The list also includes the #PaperlessBusiness campaign initiated by Asseco and joined by the European Leasing Fund. The purpose of the campaign is to educate and demonstrate the benefits of digitization and how it effectively affects business while reducing paper consumption.

The report "Responsible Business in Poland. Good practices" is the most important periodic publication of the Responsible Business Forum, issued since 2002. The report provides an overview of companies' CSR activities and summarizes the most important issues related to responsible business in Poland in a given year.

In the 3 months of this year, non-IFRS operating profit stood at PLN 480 million, up by 20% versus Q1 2021, and non-IFRS net profit reached PLN 124 million, after an increase by 7%.

The Group improved its sales in all operating segments. This was possible owing to a consistently implemented strategy of business diversification as well as intense digitization in the economy. In Q1 2022 foreign markets represented by the Formula Systems and Asseco International segments accounted for 90% of the Group's total sales. Revenues in the Formula Systems segment reached PLN 2.7 billion, growing by 27%, while operating profit amounted to PLN 227 million, up by 36% year on year. In the Asseco International segment, sales increased by 15% to PLN 940 million, while operating profit was on a par with last year at PLN 96 million. The Asseco Poland segment reported sales of PLN 408 million, an increase of 11% year on year, while its operating profit was 15% higher at PLN 68 million.

Asseco's revenues, which are very well diversified by sectors, were distributed as follows in Q1 2022: general business - 44%, banking and finance - 33% and public institutions - 23%.

Asseco's consolidated order backlog for 2022 in variable exchange rates, in the areas of proprietary software and services, is currently worth PLN 11.2 billion and is 30% higher than in the same period last year. In fixed exchange rates, in which the backlog for 2021 was converted, the increase amounts to 18% to PLN 10.1 billion.

We are pleased with the results we achieved in the first quarter of this year. We recorded increases at all major levels of the profit and loss statement. Our sector, product and geographic diversification of business provides us with stable growth. We executed long-term maintenance and development contracts. We have been building a solid order backlog for 2022 and subsequent periods - we have expanded cooperation with existing customers and acquired new partners both in Poland and in foreign markets. The years 2020-2021 were exceptional for us in terms of profitability, among others thanks to projects of fundamental importance for the state, carried out by us in the public administration sector, in a very demanding time regime. All the more so, the operating margin at quite similar levels on year-on-year basis, amounting to 9.6% during the first 3 months of 2022, should be considered satisfactory. We continue to execute our M&A strategy. During the first three months of this year, the Asseco Group was joined by 3 new companies, 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 in purchase price allocation (PPA), the costs of share-based payment transactions with employees (SBP), the financial costs and financial revenues resulting from the transactions of purchase and sales of companies (M&A) and tax effects associated with them.

The most important thing in investor relations is transparency and openness to dialogue, which is the basis for continuous modification of the communication strategy and its adaptation to the needs of different stakeholder groups. IR assumes an interdisciplinary approach to a company and its business. Our task is to collect and harmoniously arrange information and figures from many areas, including individual business divisions and subsidiaries, so that they form a coherent whole. In this way, messages are created that reach investors as the so-called equity story. In this profession, it is crucial to not only be a "transmitter" of information, but to really understand its business sense and its impact on the current and future situation of the company - said Joanna Paczkowska-Tatomir, Head of Investor Relations in Asseco Poland. A good IR team has its eyes wide open - it observes the market situation, understands its context, looks for connections and analogies, analyses case studies of other companies, and knows how to draw conclusions. It must also not be afraid of constructive criticism and should listen carefully to feedback from investors. Flexibility, the ability to adapt to different situations and the use of appropriate communication tools are also important. A professional IR team is a team which shares knowledge and expands this knowledge all the time by participating in trainings, courses and industry meetings - she concluded.

The pandemic, the geopolitical situation and major market turbulence have made transparent and reliable communication even more important. Not avoiding sometimes difficult topics is nowadays of elementary importance for conducting good IR. Equal access to information for all investors, openness to contacts with them and the ability to listen to their needs are also important. Without these elements, listed companies will not be able to build investor confidence.

The companies were awarded during the Conference of the Chamber of Brokerage Houses. The winners, as every year, were selected in two parts of the survey: through votes of readers and individual investors cast on the "Parkiet" daily website and through a questionnaire sent to fund managers and analysts from brokerage houses.

EDM in the cloud is a modern solution that allows collecting and sharing medical records without using the hospital's infrastructure. This is another joint IT project implemented by Assceco and the Municipal Hospital No. 4 in Gliwice.

More efficient, faster and more convenient for the patient. In a nutshell this is how EDM in the cloud is supposed to work. There are increasingly more medical services, the required documentation is also becoming increasingly more extensive. We had to definitely improve our functioning in this area and I believe that thanks to this solution both the medics and our patients will notice positive changes - says Przemysław Gliklich, the president of the Municipal Hospital No. 4 in Gliwice.

Medical data belongs to the most sensitive category of data, which is why its security is so important. EDM in the cloud, offered by Asseco, the leader in digitization in Poland, ensures data storage in our country and its monitoring 24/7/365.

Nowadays, well-organized and supportive IT can significantly support a healthcare entity in achieving increasingly more ambitious goals related to the delivery of digital services. We are therefore delighted that our long-term customer has once again placed its trust in us and decided to implement our new cloud-based EDM service. The cloud computing technology, on which the solution is based, responds to current challenges related to the increasing use of medical event reporting and EDM indexing. It increases accessibility to patient records produced within the hospital, and also guarantees their security. By implementing the new solution, we have also provided our client with full technical and substantive support and training for the staff - says Krzysztof Groyecki, Vice President of the Management Board, Asseco Poland.

The purpose of the ranking is to identify companies that balance their activities with care for the environment and social relations. Asseco's strategy is defined by the following motto: “We think globally, act locally”. The company takes a responsible approach to business and is guided by local patriotism; therefore, among other things, Asseco companies pay taxes in the places where revenues are generated and support local communities.

One of such initiatives was the #AssecoHelpsChildren campaign organized in 2021 together with the Podkarpackie Regional Branch of the Polish Red Cross, under which 300 laptops were provided for the 30th anniversary of Asseco. Its objective was to support the most needy pupils in their access to knowledge and further education by providing them with 300 laptops with mobile Internet access from the Plus network. It was addressed to the most needy and ambitious students of primary and secondary schools who live and learn in Rzeszów or the Podkarpackie region.

In addition, Asseco organizes an annual charity campaign "We Bring Help", under which since 2013 it has donated a total of more than PLN 1.7 million to the needy, and 2 thousand employees have participated in the project. With these funds, it was possible to help about 5.1 thousand children and 130 families.

Asseco, which for many years has been providing IT solutions that not only make life easier for customers and citizens using digital services, but also make the digital world more efficient and secure, has also launched the #BusinessWithoutPaper initiative. It consists in conducting activities aimed at reducing paper consumption by promoting and supporting projects aimed at developing digital services.

Last year, non-IFRS operating profit amounted to PLN 1.8 billion, which marked an increase by 21%. In turn, non-IFRS net profit stood at PLN 516 million, up by 14% from 2021.

The Group generated better results across all of its operating segments, which was possible thanks to its focus on supporting customers in the face of the pandemic and capitalizing on opportunities associated with the acceleration of digitization processes in companies and institutions. In 2021, foreign markets represented by the Formula Systems and Asseco International segments together accounted for 89% of the Group's total revenues. Sales of the Formula Systems segment increased by 23% to PLN 9.3 billion, while operating profit improved by 24% to PLN 760 million. In turn, revenues of the Asseco International segment increased by 13% to PLN 3.6 billion, while its operating profit improved by 12% to PLN 433 million. Sales of the Asseco Poland segment reached PLN 1.6 billion, up by 9% year on year, while its operating profit improved by 23% to PLN 263 million.

Asseco's revenues, which are very well diversified by sectors, were distributed as follows in 2021: general business - 40%, banking and finance - 35% and public institutions - 25%.

2021 was another very good year for Asseco. In the face of the continuing coronavirus pandemic, the Asseco team demonstrated great commitment, flexibility, responsiveness to customer needs, and adaptation to rapidly changing market demands. We consistently pursued a strategy of geographical, sectoral and product diversification of our business. We focused on selling our proprietary software, providing related services, and on increasing the scale of our business through acquisitions. Last year we were joined by 18 new companies operating in the Israeli, European, and American markets. We also strengthened our position in the areas of cyber security and cloud, which have taken on particular importance after 2020. All this translated into strengthening our position in all segments and business sectors. Therefore, we achieved record-breaking financial results, both at the level of revenues and profits, while maintaining profitability, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco's consolidated order backlog for 2022 in variable exchange rates in the areas of proprietary software and services is currently worth PLN 9.8 billion and is 28% higher than in the same period last year. In fixed exchange rates, in which the backlog for 2021 was converted, the increase amounts to 18% to PLN 9.0 billion.

In 2022 our goal will still be to maintain Asseco's leading position in banking, insurance, energy, telecommunications, healthcare and public administration. All the time we focus on further development in the area of proprietary products and services. Apart from sector solutions, we will also reinforce our position in ERP systems, payments, and trust services. We will continue to invest in the development of cloud products and cyber security services. We will continue to grow not only organically, but also through acquisitions. Of course, when thinking about the development prospects for 2022, one has to mention the war in Ukraine, the long-term effects of which are difficult to predict today. The first days of the war have already shown how important it is to take care of the country's cyber security and to maintain the continuity of key systems and critical infrastructure - added Adam Góral.

Asseco consistently builds shareholder value and shares its profits with them; so far it has paid out PLN 2.7 billion in dividends. This year, the Company's Management Board is recommending a dividend payment of PLN 279 million from the 2021 profit, which translates into PLN 3.36 per share and constitutes 60% of the Group's consolidated net profit.

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.

Within CYBER4DE, companies from Poland, Lithuania, Estonia, France, Croatia, Italy and Romania will develop an easy-to-deploy, modular and scalable toolkit. This will be used by PESCO's CyberRescue Rapid Response Teams (CRRTs), streamlining and improving the effectiveness of operations. and increase the efficiency of operational activities. The CYBER4DE project has a duration of 30 months and a budget of approximately €10 million.

"Rapid response to cyber-attacks is one of the main areas of focus for European defence, as it strongly affects stability in Europe and beyond, as well as the security of society. CYBER4DE will provide a proven, off-the-shelf toolkit that will be developed through consultation to tackle the most challenging operational environment, and will build state-of-the-art software to provide the most advanced crisis management and incident response capabilities," says Dr. Tomas Žalandauskas, CYBER4DE project coordinator. 

"Asseco has years of experience in the design, development and implementation of cyber security tools. We are all the more pleased to be part of a project that will improve the cyber security of European Union member states. We should assume that we will continue to see an increased number of attacks due to the digital arms race, the spreading problem of disinformation as a method used by both states and cybercriminals, and the growing threat of attacks on ordinary users. This reality forces us to constantly improve and modernize solutions that protect countries and the community in the international arena," emphasizes Zdzisław Wiater, Director of International Organizations and Security Solutions Division, Asseco Poland.

The project will deliver a fully functional, easily deployable Next Generation Defense Cyber Toolkit (TRL7 / TRL8) consisting of four main modules - Workplace, Sensors, Back-office, and Cloud services - by mid-2024.

This project has received funding from the European Defence Industrial Development Programme (EDIDP) under grant agreement no. EDIDP-CSAMN-EDICT-2020-76-CYBER4DE.

***

Asseco is a recognized provider of solutions for the Polish uniformed services, increasingly active in the global market. At present, it has over 350 clients worldwide. The Company has gathered its experience while working on projects for, among others, the Ministry of National Defence, European Union institutions and agencies (FRONTEX, ESA, EDA) and NATO. Asseco meets the highest standards of data and confidential information protection. It has been awarded the Industrial Security Certificate, among others.

Participating in the CFA Institute Research Challenge is a valuable experience for us. We also congratulate all the teams which decided to join this initiative. We watched with great interest how the young people argued their valuations of our company, defended their theses, and answered the jury's questions, said Karolina Rzońca-Bajorek, Vice President, CFO of Asseco Poland. We maintain transparent and dialogue-based communication with the market. The teams' presentations gave us a new perspective on our activities and provided important feedback that we intend to use in our communication with particular groups of customers - she added.

The team from Koźminski University has qualified to the regional stage of EMEA (quarter-finals), where their presentation of analysis and valuation of Asseco Poland company will be further evaluated. The best teams will compete against other teams from Europe, the Middle East, and Africa at the end of April. If the team representing Poland and the Baltic countries successfully copes with the task, they will advance to the global final in mid-May.

I highly appreciated the students' qualifications in the area of financial analysis, which we saw in the reports prepared by the teams, as well as in the presentations of these reports. The contest participants demonstrated that they are already prepared to work in the analytical departments of financial institutions, not only in Poland. The strength of this project is evidenced by its global nature, with nearly 1000 universities participating in this year's CFA Institute Research Challenge, concluded Krzysztof Jajuga, President of CFA Society Poland.

As part of the project, students taking their first steps in the field of financial analysis have the opportunity to benefit from the knowledge and experience of mentors, graders, university supervisors and jurors, who in this way support the professional development of future analysts.

Pirios is a leader in the Polish market of solutions designed to automate customer service using voicebots and chatbots. It supports companies and institutions in effective communication with the mass customer. Its solutions, so-called virtual agents, executing tens of thousands of different business processes are currently used by the largest Polish companies from the power, banking, insurance, telecommunications and public administration sectors. The company provides, among others, a solution for handling the 991 power emergency number.

For years at Asseco Data Systems we have been developing our competence in customer service systems; therefore, we are very pleased to be joined by specialists with such extensive experience and knowledge. With this transaction we wish to broaden the scope of our services and, as a leader in digitization, strengthen our position across all sectors in Poland as well as in African markets. I am confident that together with Pirios we will be able to deliver even more innovative and comprehensive solutions and services, both to our existing and new clients - says Andrzej Dopierała, President of the Management Board of Asseco Data Systems.

We are delighted that a leader of the Polish IT market and an international player such as Asseco has decided to make a capital investment in our company. This confirms to us that the development strategy we have chosen for many years brings measurable results. We want to use the synergy and potential offered by Asseco to further dynamic growth, also in the international markets - says Paweł Olech, President of the Management Board of Pirios.

Our products have been used for years by companies to provide even more efficient and effective customer service. They provide comprehensive and multi-channel support and optimization of business processes. I am convinced that they will complement the portfolio of products offered by Asseco - says Jacek Jacheć, Member of the Management Board of Pirios.

Products offered by Pirios are specialist solutions including: "front office" Contact Center systems with a highly efficient telecommunication platform, capable of handling several thousand telephone calls simultaneously. These are also "back office" systems such as call logs, workflow class systems, and "field service management" class solutions, as well as dispatching systems, effectively supporting and monitoring the tasks performed by mobile employees.

One of the selling parties was also Rubicon Partners Ventures, a VC fund that had supported Pirios in its development in previous years. As part of the transaction, it sold its shares to Asseco and thus exited the investment.

****

Asseco is the largest IT company in Poland and Central and Eastern Europe. For over 30 years it has been creating technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries worldwide and employs over 29 thousand people. It has been expanding both organically and through acquisitions. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

In 2020, Asseco's foreign markets together accounted for nearly 90% of the Group's revenues. During this period, 15 new companies joined the Group. In total, the company has made over 110 acquisitions since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Last year, the Group was joined by several new companies from the Israeli, American and European markets, complementing our offer with interesting products and competences. We continue to analyze our regions of interest and meet with new companies as potential acquisition targets, although due to the pandemic we are more cautious in our decision making. We are taking a close look at companies, including those with whom we have already held talks. We are checking how they cope in the current situation and how they achieve their business goals - said Marek Panek, Vice President of Asseco Poland.

We are a company that constantly cares about its global development. However, we do not forget that the engine of growth is to operate effectively in local markets. That's why for many years we have been pursuing an active acquisition policy aimed not only at geographic expansion, but also at increasing our sectoral competence. By appearing in a new country, we benefit from the knowledge and practice of local specialists, and this, combined with our international experience, makes it possible to implement the largest projects, said Adam Góral, President of Asseco Poland.

Asseco is a leader in digitization in Poland* and the largest IT company in the Central and Eastern European region. For 30 years it has been developing technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries around the world and employs about 29,000 people. It has been growing organically as well as through acquisitions, of which it has made over 110 since 2004. Asseco’s companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to the Computerworld TOP200 report for 2020.

TU Zdrowie is one of the leading medical insurers in Poland. The company's services are actively used by over 170 thousand customers. In view of the dynamic development associated with growing market demand for healthcare services, the company has decided to introduce a modern technological solution that is expected to improve communication with customers. Designed and implemented by Asseco, the intelligent voice bot, named IGA, operates on the basis of artificial intelligence algorithms and perfectly copes with human speech. The virtual advisor is available 24 hours a day, 7 days a week.

"Modern IT tools are the strength and competitiveness of our services. Medical insurance industry is characterized by a very high frequency of telephone contacts, therefore we care about the development of our contact center by constantly improving the quality of services. The most important thing for us and our customers is that the insured can handle any matter related to their insurance at any time, without any problems and unnecessary waiting. Therefore, we decided to implement Asseco's voicebot, which took over some of the tasks of our employees, relieved their workload, and thus accelerated service by answering customer questions or redirecting them accordingly. IGA's assistance is already invaluable, considering the number of calls we handle, emphasizes Sławomir Koszewski, Member of the Management Board of TU Zdrowie.

The task of IGA is to streamline and speed up the contact so that the customer does not wait in line at the hotline for the availability of a consultant. This offloading of basic tasks from employees will allow them to focus on serving users at later, more demanding stages.

The main goal of the measures that automate given processes is to reduce the time from when the user comes with their question to when they get an answer. Therefore, we first focused on replacing the all-too-familiar IVR (interactive voice response) system with an intelligent solution so that the customer can immediately connect with TU Health and get support. After mapping the needs, we introduced IGA, which aims to correctly identify the customer's problem and find a solution for it. IGA will be constantly improved, and the number of users supported by it will gradually grow, adds Kamil Parzuchowski, Head of Asseco Innovation Hub, Asseco Poland.

The popularity of bots is now a reality. According to the forecast of the Statista portal, by 2025 the market of virtual brand assistants will be worth over USD 1.25 billion. However, as shown by the results of a study conducted by LivePerson company, which got to know the opinions of more than 5 thousand consumers from Europe, North America, Asia and Australia, in 2020, 75% of respondents have at least once dealt with a virtual advisor.

Towarzystwo Ubezpieczeń Zdrowie SA has been operating on the Polish health care market for over 11 years and is the only insurance company specializing in health care for corporate employees. The company already insures more than 170,000 people, who can use more than 3,700 medical facilities throughout the country. In carrying out its mission, it cares about the health and time of the Insured, guaranteeing the shortest access times to specialists, and allowing the freedom to choose the medical facility and the doctor who conducts the treatment. It provides its customers with modern communication tools facilitating contact with a doctor directly or via tele-consultation. TU Zdrowie offers original insurance packages and health programs, occupational medicine, medical diagnostics and hospital care. The high quality of services provided is evidenced by the fact that 98% of customers prolong cooperation with TU Zdrowie. For more information on TU Zdrowie please see: www.tuzdrowie.pl

Asseco is the largest IT company in Poland and Central and Eastern Europe. For 30 years it has been creating technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries worldwide and employs over 29 thousand people. It has been expanding both organically and through acquisitions. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Asseco Innovation Hub focuses on reaching interesting projects that are at an early stage of development, supporting their implementation and creation of finished products or services to be included in the Asseco's offer. For more information about Asseco Innovation Hub, please see: https://innovationhub.asseco.com/

State registers increasingly computerized

In public administration, there has been a dynamic increase in the demand for digitization and automation of public services. Increasingly more official matters could be handled online, and the trusted profile is already used by over 13 million Poles. Important projects that became operational this year include mPrawo Jazdy or mObywatel (mDriving Licence and mCitizen). The importance of the Social Insurance Institution (ZUS) has increased on the map of public digital services.

Last year we implemented projects which allowed to introduce further e-services in public administration. From our perspective, the most important was the takeover of the Good Start program (the so-called 300+) by ZUS.  We implemented a central solution with full automation of process handling for 98% of submitted applications, which made it possible to use the program without a visit to the office and reduced the costs of program handling in subsequent years. Currently, ZUS is building next solutions for handling 500+ and Family Capital Welfare benefits. Another important project for us was the launch of the National Debtors Register ordered by the Ministry of Justice as well as the completion of implementation of the Digital Border for the Ministry of Finance - says Sławomir Szmytkowski, Vice President of Asseco Poland.

A breakthrough year for eHealth

For the digitization of the health care system, 2021 was a landmark year. In the last 12 months, e-prescription or e-referral became operational, and medical phone advice became the norm for lighter illnesses and ailments. In January 2021, the obligation to keep medical records in electronic form was introduced, and in July – to index five documents on the P1 platform. Also important was the introduction of the Prevention 40 PLUS program, which must be reported electronically in order to be billed by a physician. Still an obstacle to full implementation and use of the so-called EDM is the lack of a mechanism to enforce its use, which results in the lack of widespread compliance with these obligations.

In 2021, the most important event for us was the establishment of the company Krajowy Operator Chmury Medycznej (National Medical Cloud Operator - Cloud for Health) specializing in the digitization of healthcare. It executes implementations of electronic medical records (EDM) in the cloud and allows us to offer our customers the latest technological solutions. Last year we also carried out large-scale IT projects in 15 hospitals supervised by the Ministry of Health. Under the project of integration of the nationwide TOPSOR system with our AMMS solution, we implemented a new customer service system in over 100 hospitals across Poland, says Krzysztof Groyecki, Vice President of Asseco Poland.

New developments on the capital market

The digital acceleration was also visible on the capital market. We could observe many new phenomena which had an impact on its development, such as financial institutions building an offer taking into account the needs of passive investors. The importance of robo-advisory services was also growing and brokerage houses were implementing modern platforms for access to brokerage services for retail investors. Integration of online and mobile platforms with banking solutions, as well as digitization of onboarding of stock market investors are becoming increasingly common. An important event last year was the WSE's announcement of the implementation schedule for the new stock exchange system WATS. There is also a growing expectation of financial institutions to "cloud" the IT solutions they provide.

2021 is a very intense time of digital transformation on the capital market. We implemented many complex projects for clients that brought a major technological change. One of the most important events for us was the implementation of a new generation of solutions, including the ePROMAK NEXT and mPROMAK NEXT web and mobile platforms in the Brokerage Office of PKO Bank Polski. We also started work on the next generation of the main PROMAK NEXT brokerage system, which we will be able to present to our clients in 2022 - says Artur Trunowicz, Director of the Capital Market Division at Asseco Poland.

A year driven by the cloud

2021 was undoubtedly the year of the cloud. We saw the rise of cloud computing and a huge demand for cloud services. Due to the pandemic, enterprises were focused on maintaining business continuity and increasing cost efficiency, which translated into increasing use of on-demand, scalable cloud models. There was also growing interest in the technology from public institutions. According to McKinsey & Company, cloud computing solutions implemented in Polish companies and public institutions may bring an additional PLN 121 billion or 4% of GDP to the economy by 2030. An important event on the cloud map was the opening of the Polish branch of Gaia-X, a European project for the development of cloud technology. This is another initiative strengthening the trend related to the development and adoption of cloud technologies on the Polish market. September 2021 saw the launch of a new company within the Asseco Group, namely Asseco Cloud, which is dedicated to the provision of high quality cloud-based services and proprietary data centers.

In 2021, we carried out projects using cloud computing, among others, for clients from the health, trade and telecommunications industries. We signed an agreement with Amercian Heart of Poland, one of the largest providers of medical services on the Polish market, to migrate and maintain the comprehensive Asseco Medical Management Solution in the SaaS model. This system covers several dozen medical facilities and is delivered on the Asseco's cloud basis along with a range of professional IT services. We also continued our strategic cooperation with Dino Poland and supported the company in its digital transformation, by maintaining its key production systems and supporting the implementation of a new ERP system, among others. For the Polsat Plus Group and Netia, we implemented and adopted Office 365 and security solutions based on Microsoft 365 Security - says Lech Szczuka, President of Asseco Cloud.

Cyber security a priority

In 2021, like everyone else, the cybersecurity industry was grappling with the impact of the pandemic on business processes. The remote working model in most companies and institutions meant that the "attack area" increased significantly and it became necessary to manage risks in a very dynamic way and to constantly supplement cyber security solutions. In many cases, the actions of cybercriminals proved to be so effective that the losses of entities attacked, e.g. ransomware, were substantial. Attacks carried out by specialized teams acting in the interest of foreign countries have become even more dangerous. There is a growing awareness that effectively securing one's resources and business processes against cyber attacks is becoming a prerequisite for doing business. The National Cyber Security System Act, for example, helps with this, but there is still much to be done.

In 2021, we delivered and integrated solutions from leading vendors and supported customers in building processes in the area of incident management. We also joined a large research and development project and together with our consortium partners, we aim to create a unique solution to support companies with the most critical resources in combating the most dangerous APT-class attacks. We have also expanded our offerings with our own code security product that is unique in the world. As a result of these efforts, in 2021 we expanded our customer base to include more strategically important companies, including the launch of our partnership with the Polish Post Office. We believe that in 2022, after the completion of Cyber Defense Africa, a project implemented jointly with Asseco Data Systems, further expansion on foreign markets awaits us. We are preparing to support our clients in adapting to new regulations related to the amendment of the National Cyber Security System Act. We also hope to break new ground in the area of providing solutions for practical exercises on how to respond to cyber attacks, says Krzysztof Dyki, President of ComCERT (Asseco Group)

Trust services appreciated by business

2021 was also a landmark year in terms of awareness of the use of trust services, including digital signatures. Increasingly more companies are integrating it into their business processes and customer interactions, and it is also being used by executives in organizations. E-signature has become the beginning or an important part of accelerated digital transformation for many companies and institutions. There are still many challenges ahead for the trust services market, especially due to the lack of sanctioned regulations related to video verification, which hinders the development of e-signature providers on foreign markets, and also due to the amendment of the eIDAS regulation, which will affect this market at the level of the entire European Union.

In 2021, we implemented projects for clients that took their businesses to a new level whether in logistics, sales or customer service. The solutions we offered responded to companies' current challenges of digital transformation. Both mobile e-signatures, created on mobile devices or desktop computers using SimplySign service, and "card" e-signatures, created using a physical card similar to a sim card, were used. The key projects this year include the implementation of e-signature in Plus outlets, digitization of the process of signing lease agreements by Santander Leasing customers, as well as streamlining the logistics processes in Żabka Polska by implementing our qualified trust services - says Artur Miękina, Key Projects Sales Director, Asseco Data Systems.

We fully respect UOKiK's right and obligation to institute proceedings against entrepreneurs who are suspected or reported to be engaged in activities that may limit competition. However, the Management Board emphasizes that the Company in its operations always observes the provisions of the Act of February 16, 2007 on competition and consumer protection.

Please direct any questions concerning this matter directly to the Office, as the competent authority for the ongoing investigation.

AUMS Market Connector (AUMS MC) is a solution that enables integration of the energy market players' domain systems with CSIRE in order to automate their business processes. The Asseco's solution will ensure bi-directional communication with CSIRE, which is being implemented by Polskie Sieci Elektroenergetyczne (PSE).

As a long-time partner of the energy sector, we are aware of the challenges it faces with the launch of CSIRE. The enormous scope of data exchange and a relatively short period which the legislator has provided for adjusting the systems made us decide to build a solution which will ensure the security of business continuity for our customers. The new product, AUMS Market Connector, will serve as the central point of data exchange with CSIRE, while ensuring high standards of security and reliability as well as full control and monitoring of the processes performed, emphasizes Mariusz Zieliński, Project Area Manager at Asseco Poland.

The Asseco's solution is designed taking into account the needs of the energy market players that will be obliged to communicate with CSIRE, i.e. sellers, entities responsible for balancing and energy distribution companies. Additionally, in order to meet the needs of utilities trading companies, it will ensure the automation of data exchange with a natural gas distribution operator in compliance with the EDIFACT standard.

AUMS MC provides a window to the world for energy trading and distribution companies. The system will provide a single point of secure communication with the market, significantly reducing the resources needed to support massive data exchange processes. Thanks to its open API, the system will enable our clients to incorporate new solutions from various vendors into these processes while maintaining full control over their execution from a single administrator's desktop, adds Mariusz Zieliński.

The system is available in 2 basic variants, both on premise and SaaS models:

• AUMS Market Connector Seller
• AUMS Market Connector Distributor

For more about the solution, please see: https://aums.asseco.com/pl/produkty/aums-market-connector/

Remote education is one of the challenges we have faced during the pandemic. As of December 20, students are once again switching to this mode of learning, and for many, this means exclusion from access to knowledge. The enormity of this problem was also revealed in the submissions received as part of the campaign. The committee analyzed more than 1300 applications, out of which 300 students were selected to receive new laptops from Asseco. Applications confirmed by teachers and school directors came from all over Podkarpacie region.

The transition of students to distance learning obviously involved the need to purchase many computers to put young people in contact with teachers and peers. Although the financial situation of Polish families has improved considerably in recent years, many of them could hardly afford such expenses, especially families with many children. Therefore, I am glad that as many as 300 laptops with mobile Internet access have been given to schoolchildren most in need in Podkarpacie under the Asseco's charity project. This is a great and necessary support for children and youth in accessing knowledge, and thus an investment in their and our common future, said Władysław Ortyl, Marshal of the Podkarpackie voivodeship.

I am very happy that children in need will receive computers with internet access. I would like to thank everyone involved in this undertaking. I would like to thank the Mayor's Office, the director of the Municipal Social Assistance Centre, the director of the Education Department of the Rzeszów City Hall who put a lot of work and heart into these activities - said Konrad Fijołek, the Mayor of Rzeszów.

The computers have been donated by Asseco Poland S.A. from Rzeszów, celebrating its 30th anniversary of business operations. Internet access is provided by the Plus mobile network operator. The equipment is donated to children and youth through the Podkarpackie Regional Branch of the Polish Red Cross and its cooperating local branches.

Asseco was founded 30 years ago out of passion for creating something new and the need to make dreams come true. And this desire to explore the world has stayed with us until today. In today's world, education, development and the pursuit of passions that are so close to my heart without access to a computer or the Internet are basically impossible. Therefore, we have decided to support children and young people most in need from Rzeszów and the entire Podkarpacie region and donate the equipment which will give them the opportunity to learn, develop their interests and give them a chance for a better future. I am very pleased with the support given to our initiative by the local authorities, i.e. the Marshal of Podkarpackie Voivodeship and the Mayor of the City of Rzeszów, as well as by the Rzeszów Polish Red Cross. I am proud that together we could do something good for the residents of our city and region, says Adam Góral, President of Asseco Poland.

The more than 1,300 submissions we received and thoroughly analyzed pointed us to stories we were aware of, but also stories we didn't know about up until now. Thanks to our involvement in the #AssecoHelpsChildren campaign, we will be able to support more families and get to know them even better. All branches of the Podkarpackie Polish Red Cross are in the process of delivering equipment to selected students from Rzeszów and the voivodeship. We are trying to act as efficiently as possible, as we are aware that reintroduced remote learning often means skipping classes, and equal opportunities in access to knowledge are crucial for education and development - adds Maciej Maruszak, Director of the Podkarpackie Regional Branch of the Polish Red Cross.

The donation and distribution of the equipment to selected students began on December 17 and will continue for the next few weeks.

Human capital, i.e.: the skills, knowledge and experience of employees, as well as the ability to improve competence in the organization, was also an important factor in the selection of companies. PKN Orlen topped the list, followed by KGHM. Also in the Top Ten are: Boryszew, Grupa Lotos, PGNIG or Polpharma. The ranking is based on the proprietary National Champions index, created by Polityka Insight.

Download the report.

Asseco Cloud is the Asseco Group's entity that focuses on strategic resources and competencies in the area of cloud computing. It uses its own resources, data centers and IT infrastructure in order to provide customers with optimum cloud services. It offers its proprietary solutions as well as those of leading cloud providers. It ensures full support from design to implementation, and delivers expert knowledge.

Asseco has long been associated with Szczecin. It is here that we have located our important business division, Certum, a part of Asseco Data Systems responsible for electronic signatures and SSL certificates and a leader in trust services in Poland. One of our data centers is also located in this city. By locating the new Asseco Cloud in Szczecin, we wish to develop a broad cooperation with the City, support the region and local business in the development of modern IT services and contribute to improving the attractiveness of Szczecin and Western Pomerania for employees, investors, entrepreneurs and students - says Andrzej Dopierała, Vice President of the Management Board of Asseco Poland, Vice Chairman of the Supervisory Board of Asseco Cloud.

I am glad that a giant in the IT industry, which Asseco undoubtedly is, is opening its next company in Szczecin. This is a good place to live, work and for self-fulfillment. I am sure that this will also be another chapter of cooperation between Asseco and the City. I am looking forward to many fruitful projects, further development and see you in Szczecin - says Piotr Krzystek, Mayor of Szczecin

The value of the global cloud market will grow to $937 billion by 2027. The share of global IT spending on cloud computing will also increase. Public cloud spending will grow to about $304.9 billion, at a rate of 18%.

Asseco Cloud is our response to the enormous economic demand for cloud services. Already today, companies allocate 1/3 of their IT investments to cloud computing. Having potential in the form of our own data centers, IT infrastructure and high-end competence, we wish to serve clients from the Polish and, in a longer perspective, also from the European market. To do so, we will need high-class IT specialists whom we want to recruit locally. Currently, Asseco Cloud employs more than 40 people in Szczecin; ultimately, we are planning to increase our team to 100 people - says Lech Szczuka, President of the Management Board of Asseco Cloud.

Fore more information about Asseco Cloud, please see https://www.asseco.cloud/.

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Asseco is the largest IT company in Poland and Central and Eastern Europe. For 30 years it has been creating technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries worldwide and employs over 29 thousand people. It has been expanding both organically and through acquisitions. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Asseco Cloud is an IT company of the Asseco Group, specializing in the design, supply, implementation and maintenance of cloud solutions. It executes implementations based on its proprietary solutions and those of leading cloud providers, while offering full support from design to implementation and providing expert knowledge. The company's offer includes services based on a private cloud, preferred by customers from the public or regulated sectors, and solutions in the multi-cloud model, based on the public cloud of global providers.

I prefer partner management based on cooperation. Such a style of management and understanding of business is close to the founder of Asseco; he cooperates on such principles, naturally promotes such a model and expects similar mechanisms of operation from his managerial colleagues, said Gabriela Żukowicz. It is worth emphasizing that Asseco, being a company based on the federative model, has partnership written all over it. Such a partnership model is also applied in our cooperation with other companies within the Group. When a new company joins the Asseco Group, we always respect its principles and organizational culture, she added.

Asseco is the leader of digitization in Poland* and the largest IT company in the region of Central and Eastern Europe. For 30 years it has been creating technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries worldwide and employs approx. 29 thousand people. It has been growing both organically and through acquisitions, of which it has made over 110 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to Computerworld TOP200 report for 2020

This was the first bank integration conducted from start to finish during the pandemic, which required developing a hybrid approach to the implementation of work. Teams involved in the project worked remotely and were dispersed throughout Poland. Preparations for data migration, within the scope of Asseco's responsibility, lasted 7 months. Considering the scope of the Idea Bank's migrated IT architecture, encompassing nearly 200 IT systems, and the team's ambition to automate the process as much as possible, the project schedule was extremely challenging. Moreover, the integration was an unusual undertaking due to the logistics of the migration weekend itself. During this 26-hour period, over 400 people flawlessly completed several thousand tasks precisely arranged in one correct sequence.

Since the migration weekend we have been fully operating as one bank, and the clients of the former Idea Bank fully benefit from Pekao's infrastructure and systems. This was the last stage of the merger process. 220 thousand corporate clients and about 50 thousand individual clients of the former Idea Bank have gained access to products and services, including those that had not been available in the former Idea. We appreciate our cooperation with Asseco whose support, despite the challenges posed by the pandemic and remote work mode, helped us achieve the fastest integration of financial institutions on the Polish banking sector. The integration was a success," said Jacek Trzynski, Integration Project Leader, Bank Pekao.

In order to successfully implement such a complex project, Asseco has developed dedicated tools - Asseco Migration Platform (AMP). AMP consists of three integrated applications. A parameterized migration engine responsible for online data transformation. A reconciliation engine responsible for the execution of control procedures at each stage of migration, from extraction from the source systems to loading into the target systems. The third component of AMP is a migration console, which is a graphical interface for the engine operator and migration participants. The scope of functionality of the console includes the coordination of tasks of migration participants and ongoing reporting on the progress of work or the completeness and quality of data migration. Moreover, the console structured the decision-making processes of the merger business leaders during the migration weekend.

The tools built made the migration process effective and transparent. We wanted them to be not only efficient but also user-friendly for the end users. Consequently, all the solutions used during the migration period successfully supported the team in monitoring the progress and quality of migration and automated the performed tasks, thereby reducing the operational risk," said Anna Stepanów, Manager, Asseco Business Consulting Team, Asseco Poland.

From the beginning we knew that the foundation for the success of this project had to be an exceptional team. We were aware that the challenges we would face would require exceptional commitment and unconventional solutions. We managed to build a team of enthusiasts, integrating specialists from several departments of Asseco, for whom overcoming the so-called "extra mile" became something absolutely natural. Thanks to them, we can all be proud that we took part in the fastest, first remotely implemented and most automated bank integration in Poland,” added Grzegorz Paskudzki, Team Leader Asseco Business Consulting, Asseco Poland.

Merging two organizations is an operation that requires care and the involvement of many teams. In technical, IT, and communication terms, everything must be carried out at the highest level so that the customers experience inconvenience as little as possible. Over six months of intensive work of the entire team and supporting the process with Asseco's tools helped minimize the unavailability of mobile and Internet banking.

Asseco continues to grow intensively. In Q3 2021 alone, the Group recorded sales of PLN 3.5 billion, representing an increase of 19%. Operating profit amounted to PLN 373 million, showing a 25% increase; whereas, net profit attributable to shareholders of the parent company, having grown by 33%, amounted to PLN 120 million.

We are very pleased with the results we achieved after three quarters of 2021. We see growing demand for IT solutions and services, which translates into increased scale of our operations across all segments and sectors of our business, said Karolina Rzońca-Bajorek, Vice President of the Management Board of Asseco Poland.

Since 2004 Asseco has completed over 110 acquisitions. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

As a leader I am often driven by faith in the other person. Investors, often even my friends, said that if I pay this former owner a lot of money and he feels materially secure, his motivation will decrease. That was the theory, but it is not confirmed in our actions. It only works if someone wants to sell 100% of the shares, and we never wanted to enter into such a cooperation model. That is why we did not buy powerful organizations where this very intuitiveness would not matter. Software development means total dependence on people. If you took over the majority shares of a 50-person company, you know that if 10 people leave, there won't be much left. To sum up, we take over small and mid-sized companies where there is positive energy and belief that we can do more - said Adam Góral, President of the Management Board of Asseco Poland.

In the individual categories of the ranking, Asseco Poland ranked 3rd in terms of sales revenues. The company's success was also attributable to very high net profitability (2nd place with 26.6%) and one of the highest ratios of spending on research and development (R&D), which represented as much as 13.4% of the total revenues.

Asseco is also the creator of Asseco BooX (Bank out of the Box) platform. It is Poland's first universal process and technology platform for the sale and maintenance of financial products. It may serve as a nucleus for the development of a new bank as well as for the remodeling or modernization of an existing financial institution. Asseco BooX is available in the subscription model, but can also be operated traditionally - based on the purchase of a license. Operationally, it works in the following models: desktop, cloud or hybrid.

"Interest in using banking systems in the subscription model has grown recently. I believe that this is mainly thanks to the desire to optimize the costs of using technological solutions and the desire to abandon the maintenance of competencies that are not key for banking business. Undoubtedly, an important motivator for the use of cloud solutions are also threats related to cyber security, whose neutralization requires increasingly higher, and thus more expensive, competence," said Zbigniew Pomianek, the Vice President of the Management Board of Asseco Poland.

IT@Bank is an annual ranking of IT and financial sector leaders, organized and published by the "Bank" Financial Monthly Magazine.

After 9 months of this year, non-IFRS operating profit stood at PLN 1.3 billion and was higher by 24%, while non-IFRS net profit amounted to PLN 386 million, up by 27%.

The Asseco Group consistently pursued its development strategy while supporting its clients in digital transformation, which has become a priority for companies and institutions. This enabled the Group to achieve double-digit increases in revenues and profits across all of its business segments and sectors.

Foreign markets, represented by the Formula Systems and Asseco International segments, accounted for 89% of the Group's total sales. The Formula Systems segment revenues surged by 21% to PLN 6.7 billion in the first three quarters of 2021, while its operating profit improved by 17% to PLN 522 million. Sales of the Asseco International segment increased by 14% to PLN 2.5 billion, while operating profit improved by 27% to PLN 319 million. In the Asseco Poland segment, sales revenues reached PLN 1.1 billion or were higher by 11% than in the corresponding period last year; whereas, operating profit improved by 34% to PLN 207 million.

In the reporting period the Group managed to increase its sales to the general business sector by 26%, to public administration sector by 16% and to the banking and finance sector by 12%. Asseco's revenues are well diversified by sectors. General business was responsible for 41% of sales, banking and finance for 35%, and public institutions for 24%.

In Q3 2021 alone, the Group recorded sales of PLN 3.5 billion, which marks an increase by 19%. Operating profit amounted to PLN 373 million, after an increase by 25%, and net profit attributable to shareholders of the parent company, after an increase of 33%, reached PLN 120 million. This is historically the highest level of consolidated net profit on core business activities (in Q3 2017 net profit was impacted by one-off events in the amount of PLN 324 million related to the sale of shares in Formula Systems and write-downs in the amount of PLN 85 million of a portion of foreign investments).

Asseco's consolidated order backlog for 2021 in the area of proprietary software and services is currently worth over PLN 10.8 billion, up by 17% year-on-year.

"We are very pleased with the results we achieved after three quarters of 2021. We are seeing increasing demand for IT solutions and services, which is translating into growth in our business across all segments and business sectors. We are keeping a strong eye on the cost side, resulting in continued growth while maintaining profitability. Our strategy is based on strong geographical, sectoral and product diversification. Dynamic organic growth is supported by acquisitions. During the 9 months of 2021, the Asseco Group was joined by 14 new companies, reinforcing its position on international markets. We do not slow down when it comes to contracting new projects, which is confirmed by a double-digit increase of the Asseco's order backlog for 2021 in each of our operating segments," 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).

2020 was a very good year for Asseco. Despite high uncertainty on the market, we managed to improve our performance, reinforcing our position across all segments and business sectors. Acceleration of digitization processes in companies and institutions made us focus on providing the best possible support to our customers in the face of the pandemic,­ said Adam Góral, President of the Management Board of Asseco Poland.

The ranking was published by the Rzeczpospolita daily, which is a media partner of the publication.

The project in which Asseco is engaged is an important component of the geographic information system (eGIS) being developed by the State of Lagos. The objective is to acquire maps of a vast area of the agglomeration, which will then be processed and made available on a geo-portal. Data analysis will allow for more effective planning of the region's development, management of its spatial resources, as well as monitoring of environmental pollution. It is also a valuable source of information for local residents and investors.

Several years of cooperation with the Ministry of Science and Technology of the Nigerian state of Lagos is continued and expanded in other projects. Three years ago we provided UAVs for photogrammetric missions, but due to administrative reasons the mapping of the region can only take place now. This is the first such large project in Africa, where over 3.k km2 of terrain will be analyzed using unmanned systems with proprietary software. The implementation is executed in cooperation with Asseco Nigeria, which resulted in the transfer of knowledge that will enable us to take on more international challenges, says Tomasz Mosiej, Director, International Organizations and Security Solutions Division, Asseco Poland.

Africa is the strategic direction of development of the Asseco Group. I am glad that as Asseco Nigeria we are gradually building our position and winning new contracts, while supporting the country's development. The mapping of the Lagos State is a huge technological leap and an opportunity to accelerate the region's development. It is also an opportunity for Asseco Nigeria to expand its competence and develop international cooperation. This is yet another project that shows how much potential we have when acting as a group, emphasizes Simon Melchior, CEO, Asseco Software Nigeria.

The Lagos State land mapping project is expected to be completed in 2022.

The ranking presents the strength of a brand, which is determined, among other things, by the number of publications that have appeared about it and their tone. Asseco stands out in this category primarily thanks to the highest sentiment index, i.e. positive tone of publications.

This is yet another list in which the Asseco brand has been recognized. This year, the company was ranked #1 in the list of the most valuable Polish brands in the ICT and new technologies sector, prepared by the editors of the Rzeczpospolita daily. In addition, the company was listed in the "Europe 500 - The most valuable and strongest European brands" ranking prepared by Brand Finance. Asseco is the only Polish technology brand in this group.

Zbigniew Jagiełło was responsible for the organizational and technological metamorphosis of the largest Polish bank. During this time, the company's assets grew from PLN 170 billion to PLN 384.25 billion. At the same time, in 2019 PKO BP became the best valued company on the Polish stock exchange, reaching the capitalisation of PLN 56 billion.

I consider Zbigniew Jagiełło to be one of the most outstanding Polish banking managers. As a leader, together with his team he made PKO BP one of the best European banks today, both in terms of quality of its offering and technological level - said Adam Góral, President of the Management Board of Asseco Poland.

In July this year, Zbigniew Jagiełło joined the team of Asseco, which is the leader in digitization in Poland* and the largest IT company in Central and Eastern Europe. He became a member of the Supervisory Board of Asseco International which is responsible for the Group's development on the European market.

*according to Computerworld TOP200 report for 2020

As one of the key acquisitions that Asseco made in foreign markets in 2010, the editors pointed to the acquisition of the Israeli Formula Systems group for PLN 420 million. In total, the largest IT company in the CEE region has made more than 110 of them.

Our key focus is invariably on selling our proprietary software and providing related services, as well as increasing the scale of our business through further acquisitions. Last year we were joined by 15 new companies, which allowed us to strengthen our position in foreign markets, said Adam Góral, President of the Management Board of Asseco Poland.

The place on the list of "100 largest Polish private companies" was determined by the value of the company, which in the case of Asseco was set at nearly PLN 7.5 billion.

The ranking took into account various factors affecting the valuation of managers, such as share price dynamics, EBITDA growth rate and managerial competence. The founder of Asseco was also ranked high - 4th - in the subranking "Managerial competence", which took into account prizes and distinctions won, as well as observations and assessments made by the authors of the ranking.

The heads of the companies which found themselves on the podium of the list are: Marcin Chludziński KGHM, Marek Piechocki LPP and Daniel Obajtek PKN Orlen.

Full report: https://martis-consulting.pl/wp-content/uploads/2021/10/top-30_2021_3_www-1.pdf

The Asseco Group is a team of 29,000 people who create technologically advanced software for companies in key economic sectors. They value working for the largest IT company in the CEE region:

A cohesive team - we work together on projects, share knowledge and celebrate successes Friendly atmosphere - in the office we speak to each other by name, we are not bound by a rigid dress code Integration - we have fun during team-building trips, get together to celebrate holidays, play sports together Knowledge sharing - our experts share their know how during technological TECHbreakFast meetups   Giving from ourselves - we are committed to helping those in need, for years we have been running the “We Bring Help” campaign Stability - we offer stable employment conditions. Already after a 3-month probationary period with us you can get an employment contract for an indefinite period of time

The company was recognized as an outstanding employer and was included in the "World's Best Employers 2021" list based on an anonymous survey of 150,000 employees from various companies. The respondents were asked, among other things, whether they would recommend their employers to friends and family. They were also asked to rate such aspects as corporate image, development opportunities, gender equality or social activities. The ranking included 750 top-performing companies.

Join our team! Find out more at https://pl.asseco.com/kariera/

We take a responsible approach to business - we pay taxes in the places where revenues are generated and support local communities. I am convinced that just such a business model allows for long-term, stable development in today's world," said Adam Góral, President of the Management Board of Asseco Poland.

Read more about Asseco's economic patriotism at: https://dlapolski.asseco.com/#podatki

Asseco Cloud is focused on the Asseco Group's strategic resources and competencies in the area of cloud computing. It uses its own resources, data centers and IT infrastructure in order to provide customers with optimum cloud services.

We are at a moment of unprecedented digital acceleration. Asseco Cloud is our response to the huge demand of the economy for cloud services. Up until now, we have provided cloud computing services primarily through Asseco Data Systems. Now, we are focusing our experience and competence in a new, specialized entity. We want to be a professional advisor to our clients in designing the optimum cloud architecture, and then deliver, implement and operate the best solution. In the first step, we focus on the Polish market, but we are already thinking about the European Asseco Cloud - says Andrzej Dopierała, President of Asseco Data Systems, Vice-President of Asseco Poland

The value of the global cloud market will grow to USD 937 billion by 2027. The share of global IT spending on cloud computing will also increase. Already today, companies are allocating ⅓ of their IT investments to the cloud. Public cloud spending will grow to about USD 304.9 billion, or at a rate of 18%.

We see great customer demand for cloud services in a hybrid model. Thanks to the potential of our own data centers, IT infrastructure and high level of expertise, we want to provide our customers with the best cloud solutions. Our offer includes services based on private cloud, preferred by clients from the public or regulated sectors, as well as multi-cloud solutions based on the public cloud of global providers, says Lech Szczuka, President of Asseco Cloud.

Asseco Cloud commenced operations on September 1, this year.

For more information visit https://www.asseco.cloud/

According to Asseco Poland's current dividend policy, dividend payouts are to exceed 50% of the Company's net profit. From its 2020 profit, Poland's largest IT company paid out PLN 3.11 per share to shareholders, representing 97% of its standalone net profit and 64% of the Asseco Group's net profit.

In addition, the list includes Asseco Business Solutions and Asseco South Eastern Europe, which in 2021 paid out to their shareholders in the form of dividends nearly PLN 67 million (PLN 2.00 per share) and nearly PLN 52 million (PLN 1.00 per share), respectively.

According to the Lendtech Foundation, the system developed by Asseco is proof that AI & Machine Learning technologies are a key innovation for the lendtech industry, and its application can bring optimization benefits for both lenders and customers themselves.

A personalized offer, consistent with the customer's needs, increases the tendency to make a quick purchase decision. Its creation requires a precise analysis of customer behavior, and this is where artificial intelligence comes in; not only does it support the consultant, but also enables the presentation of an accurate offer in real time - said Patrycja Sobczyk, Product Owner, Asseco Poland. Implementation of such a solution in the case of Asseco Customer Intelligence may take as little as 3 months, because its open architecture allows for quick integration with the IT systems of lending and financial institutions or other industries - she added.

Asseco has also been featured on the Polish Lendtech 2021 Map, which is a compilation of entities that identify themselves as lendtechs or as those that operate in this market by, for instance, providing legal or technological services. Poland's largest IT company has been classified in the IT Solutions category. The Polish Lendtech 2021 Map was published during the Lendtech2021Congress - the largest conference for the lendtech & fintech sector in Poland.

For more information about Asseco Customer Intelligence, please see: https://aci.asseco.com/

The handwritten digital signature implemented at Plus is based on the SignaturiX solution supplied by Asseco, created by Monolit IT and currently under development by Xtension. It is connected to Asseco's qualified trust services, which guarantee the security of the service. The tablets needed for the signature service were provided by Samsung, on which the solutions of the KNOX cybersecurity platform are installed. This project is an example of implementation of the "paperless" strategy that has been successfully developed together for several years. The solution integrates with the existing processes of the Polsat Plus Group, which required designing and implementing changes in many sales and customer service systems. It is based on a combination of secure technologies delivered by individual project partners.

The implementation of an electronic signature is another stage of the digital transformation of the Polsat Plus Group, in which we are supported by Asseco, our technology partner. As a result, Plus customers can benefit from solutions using state-of-the-art technologies that support environmental protection by eliminating paper consumption. For customers, the electronic signature means primarily time savings, speed and convenience. From now on contracts will be signed on tablets using a stylus and will be sent to customers' e-mail boxes - says Katarzyna Wróbel-Frątczak, Deputy Director of Sales and Base Management for Sales Development and Maintenance of the Polsat Plus Group.

From the perspective of data security and document circulation, the solution meets all legal requirements and is compliant with the EU eIDAS regulation. Customers gain access to documents in electronic form, while maintaining the highest security standards.

An important feature and characteristic of this solution is that, as far as securing authenticity and integrity of a digital signature is concerned, it will be based on a qualified electronic seal and qualified electronic time stamp, both supplied by Asseco. Therefore, an electronic document generated and sent to the client's e-mail address will constitute strong and independent legal proof - says Artur Miękina from Asseco Data Systems.

The service is available in all Polsat Plus Group Stores and Points of Sale.

Asseco Poland, which started its operations 30 years ago in Rzeszów, today leads the Asseco Group, a leader in digitization in Poland* and the largest IT company in the CEE region. In 2020 the Asseco Group reached PLN 12.2 billion in revenues. It creates technologically advanced software for companies of key sectors of the economy. The company is present in 60 countries worldwide and employs approx. 29 thousand persons. It has been growing both organically and through acquisitions, of which it has made over 100 since 2004. Asseco companies are listed on the Warsaw Stock Exchange, NASDAQ and the Tel Aviv Stock Exchange.

The Asseco Group focuses on continuous search for innovative solutions; it has allocated PLN 920 million for this purpose by 2020 alone. In order to keep growing, it carries out numerous, often interdisciplinary R&D projects and investments preparing the infrastructure for research and development. In 2021 Asseco completed the construction of Asseco Innovation Hub, which is a state-of-the-art R&D center in Rzeszów providing the necessary conditions for harnessing the knowledge and potential of our most highly qualified personnel with diverse competencies. This entity is engaged in research and development projects involving, among others, artificial intelligence (AI) and the Internet of Things (IoT). Research is conducted in such areas as: telemedicine, electromobility, cyber security or for the purpose of creating systems for unmanned aerial vehicles (UAVs). The total value of this investment project is almost 65 million PLN net.

*according to Computerworld TOP200 report for 2020

The report "Artificial Intelligence in Financial Institutions. Innovative Platforms for Analyzing SME Customer Data" summarizes the current state of readiness of the European market to implement technologies based on artificial intelligence in the financial sector. It looks at the challenges faced by institutions, i.e. banks or factoring companies - better adjustment of the product offer for small and mid-sized enterprises, greater support for customers and optimization of the costs of their service. The diversity of issues depending on the institution shows how different the viewpoints and approaches of financial organizations to the directions of development can be.

"As the results of our study have shown, financial institutions are focusing on client-centricity. The key aspect is learning about the needs of their customers and striving to personalize actions taken. Support in this area is data analysis, the results of which allow for significant acceleration of customer service, better selection of offers or improvement of the financing process. The answer to these needs is artificial intelligence (AI), which is able to process huge amounts of data and make analysis on their basis. However, at this moment only 32% of respondents declare implementation of solutions based on AI. A significant portion use it in selected processes rather than across the organization. The good news is that 65% of respondents plan to implement AI-based solutions within the next two years," said Olena Gryniuk, CEE Regional Director, SME Banking Club.

Personalizing products and improving service are priorities for data analytics

90% of financial institutions are aware of the importance of customer lifecycle analysis. In addition, survey respondents indicate a trend related to knowing their customer, their preferences, their needs and offering them personalized products and services. On the other hand, the main objective resulting from the data analysis is to improve the quality of service, ensuring a better customer experience for SMEs.

"When analyzing customer data, we would like to learn as much as possible about their need for support by a financial institution - here and now. However, everyone is different and has different needs as well: having business cards, increasing their bank account limit, etc. How, then, are financial institutions supposed to know what to offer consumers at the moment? It is thanks to Customer Data Platform and thorough analysis that we can determine their needs at a specific time. The results of the survey show that depending on the industry, the emphasis of the SME customer analysis is placed on a slightly different aspect. For banks, better service and personalized offers are the most important, for factoring companies - customer retention, for other institutions - meeting the growing demands of customers. All these objectives have one common denominator - in order to achieve them, we need to know what our clients need at a given moment," emphasizes Jarosław Bryl, Director of the Business Intelligence Division at Asseco Poland.

Artificial intelligence becomes a "must have"

Currently, artificial intelligence algorithms are used in only 1/3 of the surveyed organizations. The most developed in this regard is the area of sales, marketing and customer service. Nevertheless, machine learning is gaining popularity, over 60% of the surveyed institutions plan to develop in this area.

"Nowadays, the implementation of artificial intelligence has become a certain "must have", without which it is hard to remain competitive on the market. Increasingly more companies in the financial sector are planning and deciding to use machine learning models. However, vague regulations are still a huge obstacle for many areas where full transparency is required. An additional barrier may be the fact that financial institutions often do not have teams in their organization that are specialized in artificial intelligence and could take on such a challenge," adds Jarosław Bryl, Director of Business Intelligence Division, Asseco Poland.

The survey respondents representing the banking industry pointed to customer needs as an issue having the greatest potential for the implementation of artificial intelligence. Factoring companies, on the other hand, point to the process of "productizing" the customer by offering new forms of cooperation or services, but starting from the customer's needs rather than the direct sale of a product.

"Hyper-automation is a concept that has been on the list of major technology trends for the past two years. It means using, among other things, artificial intelligence to automate tasks and processes performed by employees. However, not all of them are suitable for this procedure. Therefore, when deciding to do it in our organization, we should take into account several elements. The most important issue is access to good quality data - let's choose the area for which we are able to obtain such data. Next, we need to define the problem well and define KPIs that will help us evaluate the effectiveness of the implemented solution. Companies that have centralized platforms for gathering information on customers and products, usually have already completed this first and most important aspect - access to good quality data," points out Patrycja Sobczyk, Product Owner, Asseco Poland.

The key challenges in organizations related to the implementation of artificial intelligence relate to integration, both with the solutions used and the processes applied. Almost half of the respondents indicated this aspect as the biggest or very big challenge they face. This is where proven providers offering analytical systems come to the rescue. Based on data and observation of customers' online activities they determine their profile and recommend the best offer in real time.

Full results of the Asseco report "Artificial Intelligence in Financial Institutions. Innovative platforms for analyzing SME customer data" available via: https://aci.asseco.com/raport/

About the report

The report by Asseco and SME Banking Club entitled Artificial Intelligence in Financial Institutions. Innovative platforms for analyzing SME customer data, summarizes the current state of readiness of the European market to implement artificial intelligence technologies in financial institutions. It is based on a survey in which we asked representatives of banks, factoring and leasing companies serving small and mid-sized enterprises across Europe. We asked them, among other things, about the biggest challenge of 2021, what the purpose of customer lifecycle analytics is and whether they are already using solutions based on artificial intelligence and what plans they have for their development. The collected data published in this report indicates the direction and pace of development in this area for the coming years.

About Asseco Poland

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth largest European software vendor. It leads the international Asseco Group that operates in 60 countries and employs over 27 thousand people. Creating IT solutions for banks is one of the key business areas of Asseco that offers, among others, central banking systems as well as omnichannel and mobile solutions addressing the latest trends in global banking. Owing to the acquired experience and competence, Asseco has implemented its IT solutions (core banking engine) in over 800 banks.

About SME Banking Club

SME Banking Club was founded by a team of former SME bankers in 2010 as a professional network to exchange information and experience in the micro, small and mid-sized enterprise segments. SME Banking Club organizes regional SME banking conferences every year, which bring together financial institutions and technology companies to share knowledge, stimulate innovation and promote SME growth in the region. In addition, it provides its members with access to detailed market analysis reports and annual studies. The main SME Banking Club activities are focused in Central and Eastern Europe.

Since the beginning of September, we have been running an advertising campaign on TV. This is our absolute debut with advertising in this communication channel. The campaign focuses on two of our rapidly growing products – the SimplySign electronic signature and the ERP solutions, said Artur Wiza, Vice President of Asseco Poland.

The commercial is aired mainly in prime time on channels from the Polsat, TVN and TVP groups. In addition, Asseco has become a sponsor of sports news, displayed after the main editions of news services.

Asseco is a leader in digitization in Poland and the largest IT company in the Central and Eastern European region. For 30 years it has been developing technologically advanced software for companies in key economic sectors. The company is present in 60 countries around the world and employs about 29,000 people. It has been growing organically as well as through acquisitions, of which it has made more than 100 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

*according to the Computerworld TOP200 report for 2020.

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).

 The signed agreement provides for the implementation of a new central banking system (including a main transaction system and a data warehouse) and its operation using Asseco's data processing centres. The changes will also include a new-generation Internet banking system for retail and corporate clients and a mobile application.

 The changes we are making at BPS Bank are aimed not only at implementing modern technologies for retail and business customers, but also at providing increasingly better services to affiliated cooperative banks. Due to the challenging economic environment, we must also look for cost optimizations - says Artur Adamczyk, President of the Management Board, Bank BPS. Therefore, we have decided to implement a new core system. The selected vendor, Asseco Poland, knows the BPS Association and its business needs very well; it has been operating in the cooperative banking sector for years, providing services to a considerable part of our Association. Therefore, we will be able to take advantage of a number of ready-to-use solutions offered by Asseco. This will shorten the time of planned implementation and reduce its costs. The new central system will allow us to enter a new stage of technological development and will improve the operations of the entire Bank. At the same time, I believe that it will be a stimulus for all the Cooperative Banks in our Association to accelerate the digitization processes.

 We are extremely pleased that Bank Polskiej Spółdzielczości (BPS), on the occasion of our 30th anniversary, has chosen Asseco Poland to provide its key IT solutions for the coming years. This confirms that our investments in functionality, technology, security and the subscription model of software delivery have met the expectations of our demanding client. The agreement signed means the extension of our cooperation with Bank Polskiej Spółdzielczości (BPS) for another 10 years, which is so important for us, and thereby reinforces the Asseco's position in our key sector of cooperative banks, says Zbigniew Pomianek, Vice President of the Management Board of Asseco Poland.   

 The agreement was signed for a period of 10 years with an option to extend.

"Companies make available their financial results compiled in periodic reports as soon as possible after the end of each reporting period; should that not be feasible for substantial reasons, companies publish at least preliminary financial estimates as soon as possible."

and with reference to DPSN 2021 Rule 1.1:

"Companies maintain efficient communications with capital market participants and provide fair information about matters that concern them. For that purpose, companies use diverse tools and forms of communication, including in particular the corporate website where they publish all information relevant for investors."

the application of which the Company declared in its Regulatory Filing EBI No. 1/2021 of July 30, 2021 "Information on the Company's compliance with the principles set forth in the Code of Best Practice for WSE Listed Companies 2021", the Company informs that the estimated consolidated net profit attributable to shareholders of the Parent Company of the Asseco Poland Group for the first half of 2021 amounts to PLN 240.6 million, of which PLN 138.2 million is represented by the net profit for the second quarter of 2021 alone.

At the same time, the Company stipulates that the given value is an estimate and may still be subject to change.

The consolidated report of the Asseco Poland Group for the first half of 2021 will be subject to a review by certified auditors, which might result in a revision of the achieved financial results. The Company will disclose the final value of net profit in the consolidated report for the first half of 2021 which will be published on August 25, 2021.

In the opinion of the Company, the information on the amount of the estimated net result for the first half of 2021 does not constitute confidential information within the meaning of Article 7 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR).

­We aim to maintain our leading position in the ­sectors of strategic importance to Asseco: banking, insurance, power industry, telecommunications, healthcare, and public administration. We continue to focus on further development of ­our proprietary products and services. Apart from sector solutions, we will also reinforce our position in ERP systems, payments, and ­trust services. We have been also investing in the development of cloud products and cyber security ­services. We will ­also continue to grow ­through acquisitions and strengthen our competence in individual sectors, said Adam Góral, President of Asseco Poland.

Thank you for recognizing Polish products, for doing everything to promote them on foreign markets - said Adam Góral, President of the Management Board of Asseco Poland, while receiving the award in the category of the 30th Anniversary Partner of IBM Polska during the Partner Gala - IBM Business Partner Academy.

Asseco also received an award for the application migration to containers using IBM Cloud Pak.

I would like to strongly emphasize the unique form of cooperation where the AUMS Customer Portal solution was moved to the cloud. This solution enables consumers of electricity, gas and other utilities to monitor their consumption, report complaints, as well as analyze their bills in one place - the customer portal, said Paweł Piwowar, Vice President of the Management Board of Asseco Poland.

The migration to the cloud of products intended as an interface for the end user is of particular importance. After all, not only the success of an implementation project but also the image of a company depends on the reliability of a system's operation, its availability or ease of integration with the operator's systems. Moving AUMS Portal to the IBM Cloud enabled use of cloud architectural patterns from IBM, containerization technology in front-end solutions, container management tools such as Openshift, and use of other new solutions in the area of databases or API, in which IBM supports its partners.

The AUMS Customer Portal in the cloud model will have many industry applications, e.g. in the power industry as an electronic customer service office or as a platform for the exchange of measurement data. The solution will be sold in the SaaS model.

Asseco is the largest producer of software in Central and Eastern Europe. Last year it generated record-high revenues of over PLN 12 billion. This result was possible thanks to a consistently implemented strategy of growth and sector diversification of our business. The company also focuses on foreign markets, where it generated nearly 90 percent of its revenues. It is present in 60 countries and employs 28 thousand people.

In 2021 Asseco was also recognized on the domestic market, where it took the first place in the ranking of the most valuable Polish brands in the ICT and new technologies sector, prepared by the editors of the Rzeczpospolita daily. The Asseco brand was valued in this ranking at nearly PLN 1.5 billion.

"Europe 500 - The most valuable and strongest European brands" is an annual list prepared by the consulting firm Brand Finance.

Asseco generated record revenues of over PLN 12 billion in 2020, up by 14 percent year on year. Such result once again ensured it the first place in the category of the "Largest IT capital groups operating in Poland - Leaders of digitization in Poland". The company is also invariably the largest provider of IT solutions and services for the public administration sector and uniformed services, as well as for large companies and enterprises. It also maintained its position as the largest provider of maintenance services. Owing to its intensive development, the company was also ranked 1st among the largest providers of custom software, 2nd among the largest providers of integration services, and 3rd among the largest providers of IT services, solutions and IT services for the telecommunications sector. Asseco is also among the top companies with the highest net profit, R&D spending, as well as those providing integration services and working with the healthcare sector.

Asseco in the Computerworld TOP200 ranking:

Asseco is the largest IT company in Poland and Central and Eastern Europe. For 30 years it has been creating technologically advanced software for companies in key sectors of the economy. The company is present in 60 countries worldwide and employs approx. 28 thousand people. It has been growing both organically and through acquisitions, of which it has made almost 100 since 2004. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

Computerworld TOP200 is a prestigious report on the ICT industry in Poland. Its aim is to provide a comprehensive presentation of the condition of the ICT sector and the prospects and challenges it faces. For nearly 30 years it has been the main source of information on market leaders in particular segments.

Last year Asseco generated record revenues of PLN 12.2 billion and its operating profit amounted to PLN 1.2 billion. The company focuses on sector diversification and intensively develops its business on foreign markets, where it recorded 88 percent of its sales.

The ranking of brands prepared by the editors of the Rzeczpospolita daily is a comparison of value of one of the intangible assets of companies, which has an increasing influence on their valuations.

After three months of this year, non-IFRS operating profit amounted to PLN 399 million and was higher by 26%, while non-IFRS net profit, after a 23% increase, stood at PLN 116 million.

After Q1 2021, the Group improved performance in all operating segments. This was possible thanks to the consistently implemented growth strategy and the continued dynamic growth of digitization in all sectors of the economy. In our Formula Systems segment, sales revenues increased by 16% to PLN 2.2 billion, while operating profit improved by 31% to PLN 167 million. The Asseco International segment's sales revenues increased by 9% to PLN 819 million, while its operating profit improved by 21% to PLN 98 million. The Asseco Poland segment generated PLN 367 million in sales revenues, growing by 18% as compared with the corresponding period last year, while its operating profit improved by 38% to PLN 59 million. The foreign markets represented by the Formula Systems and Asseco International segments accounted for 89% of the Group's sales revenues.

Asseco's revenues are well diversified by sectors. After Q1 2021, they are as follows: general business - 41%, banking and finance - 34% and public institutions - 25%.

Asseco's consolidated order book for 2021 in the area of software and proprietary services is now worth PLN 8.6 billion and is 14% higher than in the same period last year.

This was a very good quarter for us. We achieved satisfactory growth of results in all segments and sectors of our operations. We consistently pursue our strategy of geographical, sectoral and product diversification of business, which brings measurable effects. The accelerated digitization of business processes in companies and institutions is no longer just a result of the pandemic, but has become a permanent development strategy for many organizations. We observe an increased interest among our customers in, among others, security and trust services and ERP solutions. This translates into an increase in our order portfolio and allows for greater optimism in achieving our goals for this year. We continue our organic growth based on sales of our proprietary software and related services, as well as through acquisitions. During the first three months of this year we were joined by four new companies, strengthening our position on international markets - said Karolina Rzońca-Bajorek, Vice President of the Management Board responsible for financial matters at 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).

The position on the podium is up one place from last year's ranking. Asseco has been consistently strengthening its position in foreign markets. In 2020, the Group added 15 new companies in Europe, Israel and the US. The company develops IT solutions for organizations in almost all sectors of the economy and employs 28,000 people on five continents.

WPI is a project implemented in a SaaS model. The solution is dedicated to all cooperative banks, but provides each of them with the autonomy to conduct business. In addition, it minimizes investment costs on the customer side. When deciding to implement WPI, the bank does not bear the risk of financial failure of the project, as this element is taken on by Asseco. WPI is an implementation of the Asseco BooX solution dedicated to cooperative banks. This is the first solution of its kind in Poland, which contains everything a modern financial institution needs. This solution has been already launched at the Cooperative Bank in Płońsk and Lubaczów.

For a cooperative bank, WPI means the elimination of investments and the predictability of costs. This is because the platform is available in a SaaS model, which brilliantly reduces the costs associated with having separate infrastructure and resources to maintain them. Asseco takes over responsibility for hardware infrastructure, server room maintenance, software licenses and updates, as well as activities such as day/month/year closures. Within a single subscription fee, the cooperative banks in Płońsk and Lubaczów received everything necessary for the day-to-day operation and development of a modern financial institution. Thus, the banks' new offerings can be implemented faster, and the commonality helps not only to meet regulatory obligations, but also to reduce costs, said Andrzej Nowakowski, Director of the Cooperative Banks Division, Asseco Poland.

The award was received on behalf of Asseco by Zbigniew Pomianek, Vice President of the Management Board of Asseco Poland, during the Cooperative Banking Technology Forum. He emphasized the great importance of the teams working on this project.

I would like to thank very much the management boards of the banks in Płońsk and Lubaczów for deciding to implement this solution, and, above all, the teams of these organizations for their cooperation in this initiative, said the representative of Asseco. As part of the joint effort, we transferred virtually all of the banks' systems to Asseco's cloud solutions. This required great commitment from the project participants, which resulted in the success of this endeavor at both institutions, he added.

The purpose of the "Cooperative Technology of the Year 2020" competition, in which cooperative banks, banking groups and IT companies took part, is, among other things, to promote unique solutions that can be used by cooperative banks within the framework of available technologies and solutions developed by IT companies. Among the winners of the competition was the Wschowa Cooperative Bank, which uses solutions from Asseco, and was awarded in the category "IT team in cooperative banking."

For more information about WPI, please see: https://wpi.asseco.com/

The company moved up 4 places in this year's list. As the editors pointed out, the acceleration of digital transformation, caused by further restrictions due to the pandemic, provided IT companies with an opportunity for further growth.

Owing to a consistently implemented strategy and strong sector diversification, Asseco managed to achieve high profits in all of its operating segments.

We consistently pursued our strategy of strong business diversification, at the level of countries, sectors and products, said Adam Góral, President of the Management Board of Asseco Poland. We continued to focus on sales of proprietary software and provision of related services as well as on increasing the scale of our business through further acquisitions. Last year we were joined by 15 new companies, which helped reinforce our position on foreign markets, he added.

The financial sector is a very promising area for the implementation of solutions based on artificial intelligence algorithms - said Patrycja Sobczyk, Senior Analyst, Data Science Team Leader. Following this trend, our team focuses on implementing machine learning algorithms in Business Intelligence class tools. Our goal is to improve the work of everyday users of Asseco's systems by modernizing and automating their processes using artificial intelligence, she added.

The award in the "Best Financial Innovation Lab" category is the second distinction awarded to Asseco in this year's edition of "The Innovators 2021" competition. Poland's largest IT company has already won the title of "The Outstanding FinTech Innovator in Central and Eastern Europe for 2021" for the development of Asseco Customer Intelligence (ACI) analytical system and machine learning models used in it.

Global Finance magazine is published in 191 countries. Its readers are mainly people making strategic decisions in international companies and financial institutions.

For more information about Asseco Customer Intelligence, please see aci.asseco.com.

During the speeches, interviews and discussions, the experiences of selected industries will be presented and expectations will be discussed, as well as the development directions of the market for trust and e-identification services globally. A group of experts will engage in discussions from the fields of law, business and new technologies. The undeniable impact of digitization on both sustaining business continuity and rebuilding the economy after the COVID-19 pandemic and global economic development in the coming years will be discussed.

The European Electronic Signature Forum is a key event in the security and trust services market. For more than 20 years we have been bringing together the worlds of business, government and academia to exchange experience, knowledge and views. This year, for the second time, we will meet online. This format worked well during the previous edition of the event and allowed more than 600 participants from 39 countries. Despite the huge challenge, we managed to connect interested listeners with experts from all over the world. We hope that this year’s EFPE will meet the expectations and give answers to the questions we have, especially in this era of such accelerating digital transformation, said Tomasz Litarowicz, EFPE Conference Director.

Paperless without secrets

This year’s EFPE returns in an even more attractive and rich online format. The upcoming edition will take place on June 10, and among the speakers are representatives from recognized Polish and international companies and organizations, i.e. the European Commission, the ISO International Organization for Standardization (USA), the ETSI European Telecommunications Standards Institute Santander Leasing, Samsung Electronics Polska, Cosmos Corporation (Japan) or Asseco Data Systems.

During the event, lectures, debates and discussions will address issues such as:

Market changes in 2020/2021 in eID and trust services: Poland and Europe. An overview of the most important trends taking into account two main areas: regulatory at the European Union level and user expectations and needs. Speeches will deal with legislative and business projects that contribute to the development of e-services in the context of the European Commission's strategic plans related to digitization, the green economy and its post-pandemic recovery. The focus is on the user and defining their needs in the context of mass adoption of eID and trust services. Practical application of trust services. Representative examples of trust service implementations from the last 12 months. Exchange of international experience and determination of conditions for the success of implementation of such projects: from the economic side and from the user's point of view. The Future of the Digital Economy. Regulatory, technical and product trends in the eID and trust services market. The answer to the question of which of these will determine the directions of development in the coming years in the areas of standardization, technology and strategic support for business and administration.

The partners of the European Electronic Signature Forum are Samsung Electronics Polska, Obserwatorium.biz and ARIADNEXT, and the event is held under the honorary patronage of the Secretary of State at the Chancellery for Digitization Marek Zagórski, the Digital Poland Association (Związek Cyfrowa Polska), the Polish Chamber of Information Technology and Telecommunications (PIIT), the Polish Information Technology Association (PTI), the Cloud Signature Consortium, the European Signature Dialog and the Research and Academic Computer Network (NASK).

Information about EFPE 2021 and the registration form are available at: www.efpe.pl

The coronavirus pandemic and related market changes have left companies needing support in digitizing their business and attracting new customers who are increasingly communicating with them through digital channels. Many companies are therefore faced with the challenge of dynamically adapting their offerings to the clients’ current expectations. Moreover, acquiring new customers for services and products is associated with costs seven times higher than those spent on maintaining regular customers.

The accelerated digitization of business has put companies in need of tools that will enable them to act effectively in digital channels. Our solution, Asseco Customer Intelligence, is a system that, based on the data and observation of customers' online activities (social media, websites, mobile applications), analyses the data, determines the customer profile and recommends the best offer. Hence, it supports the sales process at its every stage - says Marta Mróz-Sipiora, Product Manager, Asseco Poland.

The system uses artificial intelligence (AI) with machine learning (ML) models. The implementation of these algorithms was the responsibility of the Data Science & Artificial Intelligence Lab team, which is responsible in Asseco for the development of Business Intelligence class products.

The purpose of "The Innovators 2021" competition was to recognize the most innovative institutions and providers of services and solutions that set new trends for the financial sector.

Asseco was once again awarded by Global Finance. In previous competitions, the winning solutions were: Asseco Customer Intelligence (ACI) - Innovator for Corporate Banking, Asseco Enterprise Banking Platform - Digi Trade (Asseco EBP - Digi Trade) and Asseco Advisory Banking Platform (Asseco ABP). The company also won an award in the category of "The Most Innovative Banks and Fintech Companies - Central & Eastern Europe" in 2020.

Global Finance magazine is published in 191 countries. Its readers are mainly people making strategic decisions in international companies and financial institutions.

For more information about Asseco Customer Intelligence, please see https://aci.asseco.com/.

Asseco has been focusing on sector diversification for years, so that in 2020 the company's revenues were distributed as follows: general business sector - 39%, banking and finance sector - 36% and public institutions sector - 25%. In addition, the company invested in cloud products and launched, among others, the cloud platform Asseco BooX dedicated to financial institutions. The company also continued its acquisition efforts, last year taking over 15 companies in Europe, Israel and the United States.

2020 was a very good year for Asseco. Despite high uncertainty in the market, we managed to improve our results and strengthen our position in all segments and business sectors. Accelerated digitization processes in companies and institutions made us focus on how to best support our customers in the face of the pandemic. We consistently pursued our strategy of strong business diversification - at the level of countries, sectors and products, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco is guided by the idea of economic patriotism and pays taxes in the places where it earns revenues. As a result, the Asseco Group companies based in Poland paid more than half a billion zlotys to the state budget in 2019 under various public taxes.

The international Asseco Group, operating in 60 countries around the world, follows the principle “we think globally, act locally”. By paying taxes in the country where it sells its products and services, it emphasizes corporate responsibility for its environment and a conscious approach to the local community.

We are also thirty years old, as our beginnings date back to the early 1990s. In 2004 we went public and it was a turning point in the development of Asseco, as the capital market enables us to accept a completely different level of risk. The contribution of the capital market and the Warsaw Stock Exchange itself, which organizes trading, cannot be overestimated. Thanks to the money from the stock market we have managed to go beyond the borders of Poland; we bought our first company in Slovakia, and that was the beginning of Asseco. Later on, several listed companies joined our group, we entered the public market with sector or regional leaders. Apart from motivation of managers who ran these ventures, an important element that helped us think about the future, strategy, and long-term financing was the stock exchange.

Being present on the stock exchange is one of the reasons for Asseco's success on international markets.

At present we are able to compete on the international market in virtually any IT segment. The history of Asseco proves that it can be done through everyday work on small or large projects, and such approach ultimately always brings value. While developing this business, we believed that although there was not much capital on the Polish market, there was enough entrepreneurial thinking. Our federation model, i.e. integration of entrepreneurs who have product ambitions and want to produce software for clients, brings results. We have been operating in this way for 30 years and we will continue to do so.

The pandemic has affected all areas of our life. The participants of the event discussed how it affected the operations of individual listed companies, including Asseco.

It has been an interesting period of great uncertainty for us since last March. It became clear very quickly that there was one key word that helped both us and our customers, and that was digitization. Digitization is a way for companies to whom we sell our software to reach customers better and faster. The increased demand for this type of service is what made us able to perform so well financially last year. Digitization has also allowed us to provide work remotely, allowing 95 percent of our employees to stay at home.

The energy industry faces many challenges due to the 3D trend of decentralization, decarbonization and digitization. These phenomena are global in nature. In Poland, it is also becoming urgent to support consolidation processes in existing energy groups. Additionally, a number of legal changes related to e.g. the Capacity Market, RES, changes in the Balancing Market and, above all, the establishment of the OIRE and the Central Energy Market Information System will require from customer service systems to undergo dynamic and complex development. AUMS Billing & CIS version 4.0 was developed in response to the changing market requirements, as a result of investments supported by the project co-financed by the National Centre for Research and Development (NCBiR), and in cooperation with a group of domestic and foreign experts.  

AUMS Billing & CIS 4.0 is one of the state-of-the-art customer service systems in which significant changes related to technology and business process automation have been introduced. It includes optimizations in the management of work in the system, standardization of data exchange and a number of new functionalities. The system is completely open and gives unlimited possibilities for independent development by power engineering company and in cooperation with external partners (no vendor-locking). The applied technologies enable the use of OpenSource-based databases, and additionally the implemented tools and the adopted multi-cloud and hybrid cloud strategy enable the system to be moved to any cloud of a selected provider.

As a long-standing partner of the energy sector, we realize that nowadays it is crucial to open systems widely and resign from vendor-locking features. This is the only way to react quickly and flexibly to changes occurring on the energy market. On the other hand we want to provide the same flexibility to our customers in the choice of widely understood infrastructure, including cloud or databases. Such an approach guarantees that our customers will be able to cope with the upcoming changes, emphasizes Tomasz Bendlewski, Director of Power and Gas Industry Division at Asseco Poland.

AUMS Billing & CIS 4.0 also offers a number of new functionalities that are primarily related to the possibility of expanding the offer, including convergent products or services. A new data model based on a billing account has also been introduced, where the data of many contracting parties - buyers and recipients - is recorded. As a standard, mechanisms are offered to make settlements of individual recipient's devices within the Internet of Things (OiT).

Functional expansion and digitization of services was another important objective of the implemented changes. It enables our clients to reduce the costs of servicing their customers, e.g. through process automation or work optimization. According to estimates, analyses and expert opinions, these costs may decrease by 30%. If we add a similarly estimated increase in revenues by 20%, e.g. thanks to the expansion in the system of the possibility of selling multiple products and creating convergent offers, the use of our solutions is also economically justified, adds Tomasz Bendlewski.

Via its systems the Asseco Group provides billing to over forty million electricity and gas points of consumption all over the world. In Poland alone over 60% of energy bills are generated by AUMS Billing & CIS. Among domestic entities which have chosen the AUMS billing system are power companies: ENEA, ENERGA, TAURON, PGE, PGNIG OD and leading telecommunications companies ORANGE and POLKOMTEL.

Asseco has taken a number of initiatives aimed at taking care of our environment. "Be EKO with Asseco" is a project aimed at raising environmental awareness among our employees through trainings, competitions or information in newsletters. The company operates an Internet platform for sharing observations and submitting ideas on eco-solutions. The company's documentation defines the environmental principles of supplier selection and cooperation. Fluorescent lamps are replaced with LED lamps and devices with higher energy efficiency are purchased. Water dispensers are equipped with timers. The use of paper is reduced in accordance with the principle "If you can, do it digitally" and 100% of paper is Fair Trade certified. The Asseco fleet consists of low emission vehicles. Eco-driving trainings are organized. The company also minimizes the amount of generated waste, and waste generated is collected selectively. In 2012, Asseco was certified for compliance with ISO 14001, and since then, it has annually verified that it meets the requirements of the environmental management system and implemented appropriate changes.

Another Asseco project, namely the Asseco employees' charity campaign "We help", was recognized in the category "Social commitment and local community development". The purpose of this annual initiative is to motivate employees to engage in helping those in need. Employees nominate selected organizations for financial support, e.g. orphanages or single mothers' homes, hospices or foundations supporting poor families. From 2019 onwards, they can nominate pro-environmental initiatives (100% targeted at environmental protection and those which are an element of aid projects of a different nature, e.g. introduction of waste segregation in a given centre). As an important aspect of the campaign is to reach as many people as possible, one of the criteria for selecting beneficiaries is the scale of operation of the organization and the involvement of the employee. Since 2013, Asseco has allocated a total of nearly PLN 1.6 million for this initiative, and 2,000 employees have taken part in the project. Thanks to these funds it was possible to help approx. 4,700 children and 130 families.

Cloud for Health will primarily offer EDM in the cloud. The solution will enable the creation, authorization, and collection of individual and collective records with the highest security standards. It will also guarantee their availability and processing 24/7.

Currently, one of the most important technological challenges in the healthcare sector is to provide access to electronic medical records 24/7, which is a regulatory requirement. It is important that this process of processing patient data is highly secure and that it is possible to integrate providers with central systems managed by the Ministry of Health. The maintenance and development of own infrastructure by medical units is time-consuming and expensive. The answer to these challenges are cloud computing solutions, which will be offered by our newly established company, said Krzysztof Groyecki, Vice President of the Management Board, Asseco Poland. EDM in the cloud will improve the availability and efficiency of the healthcare system and allow for cost optimization. The combination of Asseco's experience in delivering advanced IT solutions to the healthcare sector and access to cloud infrastructure provided by Chmura Krajowa will allow us to jointly transform the healthcare sector in terms of technology and bring it to a higher level, he added.

It is crucial to ensure an adequate level of security for the processing of medical data, which is one of the most sensitive categories. Asseco Poland and Chmura Krajowa have teams of cyber security experts and use the latest technological solutions provided by the public cloud, such as the Google Cloud platform. The sum of competencies and well-chosen technology ensure the highest level of protection for patient data, while also ensuring full regulatory compliance including data residency within Poland. This will allow individuals to focus on their tasks, said Dariusz Śliwowski, Vice President of Chmura Krajowa.

The digitization of healthcare allows not only to simplify and accelerate existing processes, but also opens opportunities to build new, innovative services.

With the use of solutions available in the cloud, in the near future it will also be possible to diagnose patients faster, e.g. by using artificial intelligence and machine learning to analyze imaging examination and to detect various types of diseases or anomalies faster - added Dariusz Śliwowski.

Read more: chmuradlazdrowia.pl

***

Asseco Poland S.A. is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 30 years it has been developing technologically advanced software for companies and institutions in key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest producer of software in Europe. It is the leader on the market of information technology solutions for the healthcare sector and the producer of proprietary IT solutions used by over 450 hospitals in Poland, ca. 40% of clinics and physician's offices, as well as by the National Healthcare Fund (NFZ) units, blood donation and haemotherapy centers, and health resorts. Asseco's portfolio features: a comprehensive suite of IT systems - Asseco Medical Management Solutions (AMMS), the mMedica solution and mobile patient applications: Home Pharmacy, Medical Information and My Measurements.

asseco.pl

Operator Chmury Krajowej Sp. z o. o. (the Domestic Cloud Operator) is a technology company that provides Polish companies and public institutions with access to advanced cloud computing services. Currently it is the most specialized provider of cloud solutions on the Polish market. It operates in the multi-cloud model, offering both its proprietary products and services within the Domestic Cloud Platform and the solutions of its strategic partners, global public cloud providers, Google and Microsoft. Owing to this, its customers have the freedom to choose between the available cloud adoption options. It helps optimize IT processes and costs by reducing project delivery time and increasing operational efficiency. It provides IT architecture migration and transformation services. The foundation of Chmura Krajowa's operations is advanced security both in the sphere of digital safeguards, operating procedures and physical security in data processing centers.

chmurakrajowa.pl

Last year, non-IFRS operating profit totaled PLN 1.5 billion, up by 23% on annual basis, and non-IFRS net profit reached PLN 454 million, which marked an increase of 24% versus 2019.

The Group generated better results across all of its operating segments, owing to its consistently implemented growth strategy and the accelerated digitization process of companies and institutions triggered by the pandemic. In 2020, foreign markets represented by the Formula Systems and Asseco International segments accounted for 88% of the Group's total revenues. The sales of the Formula Systems segment increased by 15% to PLN 7.6 billion, while operating profit improved by 30% to PLN 615 million. The Asseco International segment's sales revenues surged 10% to PLN 3.2 billion while its operating profit improved by 12% to PLN 389 million. The sales of the Asseco Poland segment reached PLN 1.4 billion, up by 18% year-on-year, while its operating profit was 40% higher and amounted to PLN 215 million.

Asseco's revenues, which were very well diversified by sectors in 2020, were distributed as follows: general business - 39%, banking and finance - 36% and public institutions - 25%.

2020 was a very good year for Asseco. Despite high uncertainty on the market, we managed to improve our results and strengthen our position in all segments and business sectors. Accelerated digitization processes in companies and institutions made us focus on how to best support our customers in the face of the pandemic. We consistently pursued the strategy of strong business diversification - at the level of countries, sectors and products. Selling our proprietary software and providing related services remained crucial for us, the same can be said about increasing the scale of our business through further acquisitions. Last year we were joined by 15 new companies which helped reinforce our position on foreign markets, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco's consolidated order book for 2021 in the area of proprietary software and services is now worth PLN 7.6 billion and is 13% higher than in the same period last year.

While thinking about our development prospects we are aware that the economy is in a difficult situation; therefore, we approach the future with moderate optimism. Our goal is to maintain a leading position in the sectors that are strategic to Asseco: banking, insurance, power industry, telecommunications, healthcare and public administration. We focus on further development in the area of proprietary products and services. Apart from sector solutions, our priorities include ERP systems, payments and trust services. We will invest in the development of cloud products and cyber security services. We want to further grow through acquisitions and strengthen our competencies in specific sectors. We are interested in companies similar to Asseco: with their proprietary products, stable financial standing, operating in similar sectors, whose owners would like to stay with the company after the acquisition and develop it together with us, added Adam Góral.

Asseco consistently builds value for shareholders and shares its profits with them. The Company's Management Board has decided to change its dividend policy from the current "10% to 40%" to a new one: “more than 50% of profit”. This year it is recommending a dividend payout of PLN 258 million from 2020 profit, which translates to PLN 3.11 per share and represents 64% of the Group's consolidated net profit.  

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).

Asseco Enterprise Solutions is a holding company of the Asseco Group, which focuses on ERP solutions and is currently one of the strategic areas for which the Asseco Group has significant development plans. Rafał Kozłowski's decision to resign from his position in Asseco Poland is motivated by his desire to become more involved in the development of this business area.

On behalf of the Management Board I would like to thank Karolina and Rafał for their contribution and involvement in building the competitive advantage of the Asseco Group - said Adam Góral, President of the Management Board of Asseco Poland. At the same time I wish them success in their new roles and I am convinced that this change will bring a lot of satisfaction to both of them and will contribute to their further development - added the President.

Karolina Rzońca-Bajorek is the graduate of the Warsaw School of Economics, the faculty of finance and accounting (specialization: corporate finance and accounting). She started her professional career in 2009 at ERNST & YOUNG AUDIT Sp. z o.o. in the audit department, where she participated in audits of large corporate clients, from 2012 to 2014 she worked at Asseco Poland S.A. as the Finance Specialist in the Reporting Department of the Asseco Group. Then, from 2014 to 2015 she was the Stock Exchange Reporting Expert at PHZ Baltona S.A.. Since 2015 in Asseco Poland S.A., as the Director of the Reporting Department of the Asseco Group, she has been responsible for the process of periodic reporting and the implementation and application of a consistent accounting policy in Asseco Poland S.A. and the Group companies. Since 2019, as the Director of the Finance Division of the Asseco Group, she has been managing the area covering group processes in management accounting and controlling. She holds the FCCA title and the Certificate of the Minister of Finance authorizing her to provide accounting services. She is in the process of becoming a certified auditor. On April 1, 2021, she will take the position of Asseco Poland's Vice President for Finance.

Asseco conducted intensive CSR activities in 2020. First of all, in the face of the coronavirus pandemic, it undertook a number of aid projects, including allocating more than PLN 1 million to support the healthcare sector, preparing a package of IT services for medical institutions "Patient #stayathome", which improved remote contact with patients, and adapting the National Health Fund systems to the epidemic situation. In addition, in cooperation with the National Cloud Operator, it provided a free educational platform for universities under the "Partnership for Universities" program. It also created new eServices for cooperative banks, e.g. a mini-application "Requests" which allows, without leaving home, to handle over a dozen of the most common issues with which clients come to bank branches. Asseco also supported cooperative banks in handling the applications for the assistance under the PFR Financial Shield program and the anti-crisis shield 4.0. In addition, the company has cooperated with the Ministry of Digitization on the implementation of regulations enabling the introduction of video-verification as a remote method of identity authentication (e-signature).

Furthermore, Asseco launched the #BusinessWithoutPaper initiative, which is aimed at reducing paper consumption by promoting and supporting projects that develop digital services. It also organized the annual charity event "We Bring Help", under which it has donated nearly PLN 1.6 million to support those in need since 2013. The initiative has already helped approx. 4.7 thousand children and 130 families.

Good investor relations are based primarily on transparent communication and dialogue with investors, regardless of the company's current financial performance and the situation it is in at any given time. IR programs should be constructed using feedback from the market so that they meet the needs of particular groups of recipients. A good IR manager is a well-informed IR manager who, when presenting a specific issue to investors, has full knowledge of the given topic, be it from the business, financial or legal perspective, and is able to reliably present the full picture of the situation. When directing information to investors, it is important to be able to put oneself in the shoes of a person outside of the company, because then it is easier to formulate a comprehensible message. The situation with the coronavirus pandemic, including particularly low interest rates, has made it unprofitable to keep money in bank deposits. For this reason, interest in the stock market, including companies representing such sectors as TMT, healthcare or biotechnology, increased significantly in 2020. Last year, nearly 85,000 brokerage accounts were added in Poland. At the same time, COVID-19 has increased uncertainty in the capital market. In this new reality, objective and two-way communication has become even more important. We have seen increased contact from both individual and institutional investors, who are more frequently asking about the current situation in the company and the group and about possible threats or emerging market opportunities in particular segments and sectors of our business. We have also noticed more frequent contact from new foreign investors who, working remotely, have more time at their disposal and are able to get to know our company better, said Joanna Paczkowska-Tatomir, Investor Relations Manager, Asseco Poland.

Information about the ranking: https://www.parkiet.com/Firmy/303059991-KGHM-LPP-i-Tauron--liderami-relacji-inwestorskich.html

Paperless in the public administration

Eliminating paper procedures is one of the biggest challenges in the area of digitization of the public administration. Moving away from paper in favor of digital solutions has measurable benefits for public institutions, but above all for the end customer - the citizen. The implementation of such solutions speeds up various processes, minimizes the risk of errors made by the customer and makes it easier to go through the entire administrative procedure. Customers filling out a paper form on their own often do not know what to enter in particular fields or enter incorrect data. The introduction of an electronic form, which is interactive and prompts specific answers, makes the completion of formalities in the form of application easier and faster. Paperless brings benefits also for the institution itself. It ensures measurable financial savings - the more digital processes, the greater the scale of savings, which can reach hundreds of thousands or even millions of zlotys a year. This is the effect of reducing or even eliminating the costs of paper document circulation.

In April last year we faced a major challenge related to the IT support of anti-crisis shields. We are a company that quickly adapts to the changes expected by the market, and thanks to advanced IT we were able to perform all the tasks set by ZUS. We adapt our solutions to current legal regulations. Dynamism has always been an important value of our actions. Thanks to such an approach we have been able to implement even the most complex IT projects for 30 years.

Process automation

The implementation of new technologies determined by changes in the law is also associated with the automation of processes. And it is not about robotization, i.e., the performance by a computer of exactly the same activities that a human would perform. By eliminating (or significantly reducing) human participation in business processes, they can be thoroughly rebuilt, simplified and accelerated.

Last April, ZUS was given a great deal of new responsibilities related to the implementation of the shield. At the same time, it was not released from the ongoing work it had been doing up to that point. It also had to perform additional tasks with the same team, in difficult conditions of remote work and often with limited access to resources. An important task was therefore to automate the new processes so that the tasks could be carried out with as little human involvement as possible. Up until that moment, this kind of work related to handling applications had been largely performed by humans. Each paper application had passed through the hands of a ZUS employee and had had to be electronically processed by them, i.e. entered into the system, verified and serviced. On this basis, within 30 days from submitting the application, a decision had been made. However, the use of tailor-made IT solutions made it possible to automate the entire process - from the moment of filling out the application by the customer to issuing the decision by ZUS. As a result, up to 90 percent of all applications have been processed automatically since then.   

Creating new value

In Poland we have a lot of different sets of citizen data. The largest databases include data collected in the ZUS or PESEL database. Often information from different places is needed to make a decision on a particular issue. Data integration allows to streamline service processes, create new value in the form of new products or services, and accelerate administrative decision-making processes. In order to make it possible, the pre-condition are legal changes, which influence the development of technology and determine the introduction of new services. An example can be the service of the Polish Development Fund (PFR) shield. In order to implement it, it was necessary to integrate data between various state institutions. The decision to grant financing was made by PFR on the basis of, among others, information about an entrepreneur - whether he or she is not indebted to ZUS and the tax office. IT enabled quick and efficient handling of the Act, especially at a time when time was of the essence. The integration of PFR with the ZUS system, among others, made it possible to speed up the process of making decisions on granting financial assistance. The institutions were able to exchange data in a virtually unattended manner.

Another example of a legal change leading to the development of technology is the implementation of the Polish Tourism Voucher project. In this case, it was necessary to use data from the offices of municipalities that operate the 500+ program. People who were entitled to this benefit could also take advantage of the travel voucher. We managed to create a kind of payment system, the equivalent of a payment card with a due amount, which can be "paid" for selected tourist services. With such a solution, the employee of a hotel or other tourist facility logs into the ZUS system, and the holder of the travel voucher receives a special code via SMS, which can be then entered in order to use the voucher to pay for the stay or other tourist service. In this way, a complex payment system was created, a proven mechanism which can be used to create a multitude of services for citizens. It is also a modern form of the state-citizen settlement system, which can be used for other new services.

With such advanced IT solutions, the public administration can conduct citizen-centric activities and provide services and maintenance of a standard similar to those provided by commercial entities.

The covid-19 pandemic has accelerated the digitization processes in companies. According to a McKinsey report, from January to May 2020, the digital economy in Poland grew by 18.4% or 2.5 times faster than in 2017-2019. Companies that want to survive the crisis and continue to grow are already moving their processes to the digital world. On the other hand, research* shows that while most companies (79 percent) understand the need for digital transformation, scaling digital initiatives still remains a challenge. That is why Asseco, together with our Partners, is developing the #PaperlessBusiness initiative to even more effectively help customers design and implement solutions that enable the conversion of traditional processes to digital sphere.

Accelerated digitization is driving increased interest in digital products and services. These changes require from companies and consumers to know what solutions are available and how to use them. We realize that digital transformation leads to bold decisions and many changes, including changes in strategy, processes and selection of the right tools. Asseco, as the largest Polish IT company and leader in the digitization of Polish economy, wants to actively participate in the process of these changes, as well as, through educational activities, improve the digital competence of Poles and show the direction of development of digital services - says Artur Wiza, Vice President of the Management Board of Asseco Poland.

Start of the website www.biznesbezpapieru.pl

One of the pillars of the new activities, within the #PaperlessBusiness campaign, will be an educational and information website: www.biznesbezpapieru.pl. This is the first website of its kind, entirely devoted to digitization, where entrepreneurs and consumers will find expert advice and practical knowledge about its various aspects. They will learn how to effectively transfer traditional processes to the digital world and what benefits it brings, how to use digital tools in different areas of life and how important cyber security is. They will also gain knowledge about trust services such as electronic signature or video verification. The service will be substantively supported by the representatives of the partners: Michał Kanownik from the Digital Poland Association, Ph.D. Michał Kawecki from the Warsaw School of Banking, Justyna Orłowska from GovTech, Ph.D. Krzysztof Kozłowski from the Warsaw School of Economics, Professor, Ph.D Dariusz Szostek from the University of Opole, Tomasz Chomicki from Samsung Electronic Poland, Michał Tabor from Obserwatorium.biz, as well as the experts from Asseco Poland and Asseco Data Systems.

The educational activities will be conducted through business media and social networks. Training sessions for entrepreneurs in the form of webinars will be organized, as well as debates with experts.

The partners of the campaign are: the Digital Poland Association, Samsung, GovTech Poland, the Warsaw School of Banking, the Warsaw School of Economics, Obserwatorium.biz, Santander Consumer Bank, Szostek_Bar and Partnerzy law firm and the Clean Poland Program.

* EY Digital Investment Index research

#PaperlessBusiness #BusinessWithoutPaper #StartFromYourself #PolishDigitalValley #ITmadeinPoland

As indicated by the bank's experts, the main factors for the development of the IT sector in Poland include the rapid development of digital technologies and the need to digitize and automate processes. The coronavirus pandemic has had its impact on the sector, but thanks to its role in the modern world and the need to maintain processes, it should remain relatively immune to the pandemic’s effects. In addition, the consequences of the spread of COVID-19 have accelerated the digital transformation. An opportunity for the sector is also provided by the still low saturation of IT services in Poland and the emergence of new products and services that give their recipients the opportunity to increase their innovativeness.

The Asseco Group presents itself as an international federation of companies. Where did the idea for such a development model come from?

From the very beginning our strategy has been defined by the following motto: “we think globally, act locally”. This resulted from our experience in the banking sector, which was reluctant to cooperate with small, local companies despite the fact that they offered good IT systems. For financial institutions it was important that their supplier was a large company with an international reach. It was this need to effectively reach out to banking sector clients that gave rise to the idea of creating a federation. The then Management Board of Asseco, headed by President Adam Góral, assumed that in Poland's neighboring countries there were companies similar to us which, despite producing good software, were not able to reach large clients.

Last year, the Group achieved a record level of over PLN 10 billion in revenues, so it is difficult to doubt the rightness of this decision. The question arises, however, why a federation and not a corporation?

We focus on freedom of action and entrepreneurship. Previous managers (usually minority shareholders) continue to manage the company's operations. We rely on their experience and knowledge of local markets. What unites us are not only common business goals, but above all vision, values and partnership relations. We take a responsible approach to business and are guided by local patriotism, which is why Asseco companies pay taxes in the places where revenues are generated and support local communities.

What conditions must be met by a company in order to receive a proposal to join the Asseco Group?

First of all we are looking for companies that are similar to Asseco: with their proprietary products, stable financial standing, operating in similar sectors, whose owners would like to stay with the company after the acquisition and develop it together with us. In our search we assume that companies that merge with the Group should remain independent, and what we develop together (the so-called synergy) is a bonus that will benefit both the acquired company and Asseco.

What are the benefits of being a member of the Asseco federation?

We support cross-selling activities - we provide Group companies with access to commercial information so that they are up-to-date with offers from other members of the Asseco family and facilitate contact with key persons who can support a given idea for joint sales. Annually, we initiate over one hundred joint sales ventures, more than half of which end with the presentation of an offer. In addition, we have a dedicated team that independently promotes the Group's solutions, reaching out to potential new customers. We speak at industry conferences and support the business by seeking new markets, partnerships and strategic alliances. We have also created an international database of references and certificates used by companies selling solutions to the public sector. Every year, thanks to our mutual legal and formal assistance, we win contracts worth several dozen million euros. We also use our potential in negotiations with vendors. It allows us to obtain the best possible terms of cooperation and create partnership relations with companies such as IBM, Microsoft or Oracle.

Whereas, from the Asseco Group's perspective, international cooperation enables accumulation of comprehensive experience and know-how. Synergy of these competencies creates added value for our clients who receive top-quality products and services.

At present the Asseco Group operates in 60 countries worldwide, makes almost 100 acquisitions and employs ca. 27,500 people. What are the company's further plans?

Maintaining this upward trend. Last year the Group was joined by several new companies from the Israeli, American and European markets, complementing our offer with interesting products and competences. We continue to analyze the regions we are interested in and meet with new companies that are potential acquisition targets, although due to the pandemic we are more cautious in our decision making. We are taking a close look at companies, including those with whom we have already held talks. We are checking how they are doing in the current situation and how they are achieving their business goals.

More information: acquisition.asseco.com

Joining the Digital Poland Association is primarily a continuation of Asseco's activities in the area of broad approach to digitization and paperless processes. As a leader in digitization in Poland we want to take an active part in activities aimed at popularizing digital solutions and educating the market about the possibilities of using technology in business. I am convinced that joint action for various areas of the economy will benefit us all and allow us to take advantage of the opportunities offered by digital solutions to an even greater extent – says Artur Miękina, Sales Director of Key Projects, Asseco Data Systems.

The President of Digital Poland, Michał Kanownik, points out that today the digitization and development of paperless processes is one of the most important challenges facing not only Polish business but also administration. - The development of e-services must be accompanied by raising competence and awareness. Especially given the fact that e-services are not only solutions for companies. It is also a great convenience for most citizens and public administration - says Michał Kanownik. And he adds: - I hope that together we will be able to support the popularization of such solutions, which increase cyber security. And paperless or e-signature are undoubtedly one of them.

About Asseco

Asseco is the largest IT company in Poland and the region of Central and Eastern Europe. For nearly 30 years, it has been developing technologically advanced software for companies from key sectors of the economy. The company is present in 60 countries around the world and employs about 27,000 people. It develops both organically and through acquisitions – since 2004 it has made nearly 90 of them. Asseco’s companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and the Tel Aviv Stock Exchange.

At Asseco, we meet the needs of tomorrow; therefore, we focus on creating innovative and advanced solutions that will enable our clients to maintain business continuity in times of such great change. We listen to market needs and act flexibly. We constantly invest in R&D, develop our products and think outside the box, as this is the only way to implement innovative projects on an international scale – said Artur Wiza, Vice President of Asseco Poland

In Asseco Case Study Book you will find innovative projects that have been carried out in cooperation with our clients in various parts of the world. We hope that this edition will also be an impulse for many organizations not only to carry out innovative projects, but will show you how much business benefits from the world of new technologies.

You can download Asseco Case Study Book.

The foundation of Asseco's operations continues to be the sale of proprietary IT products and services, which in 2019 amounted to over PLN 8.6 billion, representing 81% of the consolidated revenues. The company's revenues are also diversified by sectors and during this period they were distributed among banking and finance - 38%, general business - 38% and public administration - 24%.

Our federated model has allowed us to attract many IT companies from different countries to the Group and create a local counterbalance to global IT providers. We are now the largest Polish IT company in the CEE region and an international player with a presence on 5 continents. Foreign markets currently account for nearly 90% of our revenues. We operate as a group of companies present all over the world, specializing in different areas of IT. We are united by common business goals, but most importantly by vision, values and partnership relations, and we build the value of our group on this, said Adam Góral, President of Asseco Poland.

Asseco is not slowing down, with more than a dozen new companies that joined the Group in 2020 alone from the Israeli, American and European markets.

The purpose of the “Polish Company - International Champion” competition is to honor companies that boldly go out into the global market, take risks in investment and create innovative products and services - both those that have been operating in the international environment for a long time and newcomers.

Asseco Poland has been one of the leaders of the "IT@Bank" list for years. In 2019, the company achieved over PLN 805 million in sales revenues and allocated 12% of the amount to research and development. In addition, the company had a 26 percent profitability which gave it the second place in terms of this indicator.

The company was also ranked third in the subranking on the cooperation of technology companies with the financial sector, where the volume of revenues from financial institutions and their percentage share in total revenues, which amounted to 41 percent in Asseco’s case, were taken into account.

Asseco Poland was also ranked third in the "subranking of positions in the cooperative banking sector". The company has over 200 clients in this segment and generated nearly PLN 46 million in revenues.

Additionally, Asseco Poland was among the companies that reacted most effectively to the market situation caused by the outbreak of the coronavirus pandemic.

The main IT@Bank ranking is developed on the basis of five indicators: absolute amount of sales revenues, share of revenues from the financial sector in total revenues, R&D expenditures to revenues ratio, weighted number of customers and net profitability ratio.

The year 2019 was very successful for Asseco - for the first time we generated PLN 10.7 billion in consolidated revenues and PLN 976 million in operating profit. In line with our strategy, we focused on the production of our proprietary software and provision of related services. Revenues from this business accounted for 81% of our sales­ ­- said Adam Góral, President of the Management Board of Asseco Poland.

Asseco has been growing intensively in foreign markets, where it generated nearly 90% of its sales in 2019. In addition, more than a dozen new companies joined the Asseco Group in 2020 alone, strengthening its position in international markets. In total, the software maker has already completed 90 acquisitions on five continents.

The justification highlighted double-digit increases in sales and net profit, while increasing employment levels. In addition, Asseco grew strongly in foreign markets, where it generated nearly 90 percent of sales.

On November 24, 2020 GPW Benchmark - an entity belonging to the Warsaw Stock Exchange Group responsible for developing the offer of reference indices for the Polish financial market - informed that the changes in the composition of WIG20 would take place on November 26, 2020 after the closing of the session.

Our strategy is focused on building long-term value of the Asseco Group. We consistently develop our business by pursuing a transparent communication policy. For us the promotion to the group of blue chips is a distinction and an expression of trust we have been working for years - said Artur Wiza, Vice President of the Management Board of Asseco Poland.

WIG20 has been calculated since April 16, 1994.

After three quarters of this year, the non-IFRS operating profit exceeded PLN 1 billion and was 17% higher. In turn, non-IFRS net profit, after an increase of 12%, amounted to PLN 303 million.

Thanks to a consistently implemented development strategy, the Group improved its results in all operating segments. In the Formula Systems segment, after three quarters of 2020, sales increased by 14% to 5.5 billion PLN and operating profit by 28% to PLN 446 million. The sales of the Asseco International segment increased by 9% to PLN 2.2 billion and operating profit went up by 6% to PLN 252 million. The Asseco Poland segment generated revenues of PLN 1.0 billion, which is 12% more than in the same period last year, while operating profit was 23% higher and amounted to PLN 155 million. Foreign markets represented by the Formula Systems and Asseco International segments were jointly responsible for 88% of the Group's revenues.

Asseco's revenues are very well diversified by sectors. After three quarters of 2020, the general business sector accounted for 38% of total revenues, banking and finance – for 37% and public institutions – for 25%.

In the third quarter of 2020 alone, the Group recorded sales revenues of PLN 2.9 billion, which marks a 7% increase. Operating profit went up by 15% and amounted to PLN 299 million, while the net profit attributable to shareholders of the parent company amounted to PLN 91 million, i.e. 16% more than in Q3 2019.

Asseco's consolidated order backlog for 2020 is currently worth PLN 11.3 billion and is 12% higher than in the corresponding period last year.

We closed the first three quarters of 2020 with double-digit revenue and profit increases, which we consider to be a great success in times of high uncertainty associated with the pandemic worldwide. We consistently pursue a strategy of strong diversification of our business. We are developing both organically and through acquisitions. During the first 9 months of 2020, several new companies joined our Group, which will strengthen our position on international markets. The acceleration of digitization processes in companies results in increased demand for solutions in selected IT areas, which allows us to sign new contracts and build a solid backlog for the current year and subsequent quarters. However, we approach the future with moderate optimism. Due to uncertainty related to the general economic situation, we can observe caution of our business partners in undertaking new investment projects. However, I hope that we will come away unscathed from this difficult time, said Rafał Kozłowski, Vice President of the Management Board of Asseco Poland.

Non-IFRS figures include 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.

Asseco's system enabling the client to place the biometric signature on documents has been implemented at KRUK on field advisors’ tablets. Owing to this, when signing the agreement, there is no need to spend time printing two copies of the agreement and sending signed documents by mail or courier to the company. Currently, the electronically signed document is available immediately after the client has signed it in KRUK's electronic systems. In turn, the client can receive their copy of the agreement by e-mail during the visit or in paper form. What is important, then one copy of the document is printed for the client. The biometric signature offers many security options, which makes it much more secure than a handwritten one. A handwriting forensic expert is able to evaluate more personal and behavioral characteristics of the person submitting the biometric signature and indicate its ownership.

Digitization is the future of our sector and we are open to innovative solutions. By using biometrics and mobile devices, our field advisors will be able to serve our customers fully electronically. This is especially important at this time. The implementation of the biometric signature will certainly make the work of our training advisors easier - not only will it optimize the time of customer service, but it will also be secure for the customer. Another advantage of the solution is the care for the environment, because thanks to digitization we can reduce paper consumption - said Tomasz Ignaczak, General Director at KRUK S.A.

One of the key stages of the debt service process is signing the agreement between the parties. In the implemented solution, the handwritten signature on the paper agreement has been replaced with a handwritten signature recorded electronically (biometric) by the Signatus software, the application by the Slovak company Anasoft – Asseco’s partner. The biometric signature data is additionally secured by Asseco with the qualified electronic seal and the qualified electronic time stamp.

This is another digitization project we have been carrying out for KRUK S.A. over the last several months. We are very pleased with it and it shows that the process of shifting away from paper documents is an important transformational element of many organizations. However, it is worth noting that while introducing digital processes, we can also take care of our common security, especially in times of the pandemic, using selected mobile devices with Samsung Galaxy Tab Active2 scribers, which can be safely disinfected - said Artur Miękina, Project Sales Director at Asseco Data Systems.

The implemented solution is an answer to the growing need to streamline and shorten the time of servicing processes related to debt service.

The Asseco's initiative will consist in conducting activities aimed at reducing paper consumption and promoting and supporting digital services development. The company will help clients design and implement solutions that enable conversion of traditional processes to digital where possible.

Additionally, the company has declared that its employees will try to act according to the following principle: "If you can, do it digitally". Asseco is planning to move from printing presentations, leaflets, documents to digital versions, which will reduce paper consumption. The initiative is an extension of the "Be Green with Asseco" initiative already implemented by Asseco employees.

For many years we have been providing IT solutions that not only make life easier for customers or citizens using digital services, but also make the digital world more efficient and secure - says Artur Wiza, Vice President of the Management Board of Asseco Poland. The awareness of pro-environmental activities is growing and many companies and individuals are involved in such initiatives. We want to support them in a natural way for us - through digitization. We are aware that the digital transformation requires bold decisions and many changes, including changes in strategy, processes and selection of appropriate tools. This is a big challenge for us and our clients, but we are ready to take it up and be a role model for others. Conducting pro-environmental activities together with the Polsat Group and including our initiative in the Clean Poland Program will allow us to increase the scale of the undertaking and reach more people with educational activities, he adds.

The Clean Poland Program, implemented by the Polsat Group, is an initiative which aims to educate the society and show the benefits of an ecological lifestyle. Not everyone is aware of how much human activities and the way we function every day affect the environment, and consequently people's health and life. The authors of the initiative emphasize that pro-ecological attitudes should not remain only in the sphere of declarations, especially since in many cases they are very simple to implement and at the same time definitely cheaper than traditional solutions.

The Asseco #BusinessWithoutPaper initiative has already started. Since March, the company has increased the share of electronic invoices in settlements with contractors to over 90 percent and reduced paper consumption in printers by almost 60 percent.

#BusinessWithoutPaper #PaperlessBusiness #CleanPoland #StartFromYourself #PolishDigital Valley

Customer-friendly bank

The dynamic development of Santander Consumer Bank – a credit-focused Bank, a constantly growing sales network, the desire to meet the needs of employees and customers, as well as to shift away from the time-consuming “paper” circulation of documents were the reasons why the decision to introduce modern trust services was made. The aim of the project was to create a process of signing a consumer credit agreement in accordance with the “paperless” idea, the EU eIDAS regulations and the highest standards of user experience.

We are a financial institution in Poland, which in 2020 can use the title of the ‘Customer Friendly Bank’, awarded in the process of independent certification conducted by the research company Experience Institute. 97% of our clients are of the opinion that as a bank we have simple procedures that make it easy to apply for a loan. The implementation of the electronic process of concluding credit agreements has further strengthened the perception of us as a bank open to the needs of customers. The digitization of product sales has allowed not only to reduce costs related to paper circulation, but also significantly improved our internal processes – said Ewa Muciek, Deputy Director of Technology and Operations Division, Santander Consumer Bank.

Digitization in practice

The system designed and implemented by Asseco together with the bank, thanks to the digitization of credit documentation confirmation, has shortened the time of customer service, enabling remote conclusion of agreements and their acceptance by means of advanced one-time signatures with authorized SMS codes. The project also included a qualified electronic seal and qualified validation service. The introduction of paperless processes allowed to relieve the backoffice and reduce the space occupied by paper agreements.

The implementation of the electronic sales process has  shortened the time of concluding a credit agreement by 30%*. It has also contributed to the improvement of the quality of work of advisors in the bank’s partner network, of which about 80%* pointed to the ease of handling the new process, and 40%* appreciated the possibility of concluding a credit agreement without using a single sheet of paper.

The project for Santander Consumer Bank is distinguished by the scale and scope of the application of digital credit agreement conclusion and the resulting benefits. By implementing the Asseco’s products and services, the bank has gained a modern, convenient and appreciated tool that facilitates the work of its partners and enables them to sell the bank’s products faster and more efficiently – said Artur Miękina, Key Projects Sales Director, Asseco Data Systems.

*Voice of Customer research carried out with the use of CATI technology, conducted by Santander Consumer Bank with Commercial Partners in the period 15-08-2020 – 15-09-2020. The research was conducted on a sample of 345 sellers who have the possibility to use a digital signature.

"Top Brand 2020" is the 13th edition of the largest brand media analysis on the Polish market. For the third time the survey has covered as many as 500 brands from 50 sectors The ranking has been prepared by "Press" and "Press-Service Monitoring Media" magazines.

Companies’ position in the list of "100 Largest Polish Private Companies" is determined by their value  - in the case of Asseco it amounts to nearly PLN 7 billion.

The jury appreciated the strategic skills and effective management methods of the President of Asseco, which resulted in the company's revenues exceeding PLN 10 billion. The Asseco Group, operating under the federation model, has developed intensively on foreign markets, where it generates nearly 90% of its total sales.

This is an honor for my entire team – 27,000 employees operating in nearly 60 countries. Additionally, we have achieved about USD 3 billion in revenues. All this is a source of pride, considering that in 1991 I started my business as a start-up in Rzeszów with three people - said Adam Góral while receiving the award.

The federation model he adopted is an alternative to large IT companies. The companies of the Group are connected not only by common business goals, but above all by vision, values and partnership relations.

Our way is to integrate small and mid-sized companies from all over the world and not to kill their entrepreneurship, because our leadership is in fact based on a business consultancy, not on orders - summarized the President of Asseco. I am hoping that there will be more such undertakings in Poland - he added.

The ICAN Management Review: Leaders of Tomorrow is awarded to managers who, through bold decisions and consistent action, change the market reality by setting new directions in the development of industries and sectors.

Report to download: https://www.politykainsight.pl/raporty/czempioninarodowi

According to the authors of the report, the value of managers is determined by their competence, financial results and share price increase, but also by the duration of their held position. The longer the duration, the greater the market confidence. The following company CEOs are on the top of the list: Adam Kiciński - CD Projekt, Zbigniew Jagiełło - PKO BP and Daniel Obajtek - PKN Orlen.

Asseco Poland's net profit in 2019 amounted to nearly PLN 207 million and was by over PLN 40 million higher than the year before. At the end of that period, the capitalization was nearly PLN 5.3 billion. Additionally, with nearly 2,200 employees, Asseco Poland has been ranked 3rd in the category of the "Largest enterprises in Podkarpacie by employment size".

The "Golden Hundred Companies of Podkarpacie" ranking is organized by the "Nowiny" newspaper, in cooperation with the Podkarpacie branch of the Polish Economic Society.

The Asseco Banking Forum was held for the first time in a remote form. The online meeting was attended by over 400 representatives of the banking, capital, insurance and e-commerce sectors.

It is thanks to technology that we can meet in such a formula today. In difficult times we - technology specialists - have a great responsibility to ensure continuity and development of business, said Adam Góral. Poles have fantastic achievements in the field of technology and information technology. We are ready to enter foreign markets with our solutions for banking, he added.

The introduction to the first debate of the meeting - "Digital bank in 6 days! Build or renovate?" - was prepared by Grzegorz Paskudzki, the head of the Asseco Business Consulting team, which supports banks in business transformation.

A digital bank is a bank open to the outside world, to integration, to sharing products of other providers and meeting all the expectations of its customers, said the Asseco’s expert. The path of digitization is different depending on who we look at. Traditional banks most often chose the evolutionary path, unlike NeoBanks, FinTechs or BigTechs and eCommerce companies, he added.

The representative of Asseco also pointed out that banks were no longer the monopolists in the area of financial services, as the development of technology and increasingly easier access to knowledge and information made it possible to spread them.

Banks will stay with us without a doubt. Of course, services will change and will be offered not only by banks, said Mirosław Forystek, Member of the Management Board, Vodeno. Technologically, it is possible to build any banking product, but some products need to be licensed and this will not change for many years. Technology allows to build new banking services and products much faster, he added.

Piotr Gawron, President of the Management Board, Dragon Services, agreed with him. He said that banks as institutions would remain with us, but clients would need services because they were identified by clients - banks would therefore act as platforms providing services.

However, Jaromir Frankowicz, Member of the Management Board, IDEA Bank, pointed out that for many clients the use of a bank was still very important.

There are customers who need an account and a card, the whole banking envelope. I have been looking at fintechs for a long time. They are "monoproducts". They take what is easy to take over, but difficult things, most often those requiring legal regulations, stay in banks, he said.

Banks will stay with us. Mobile payments were invented by them, not by fintechs. Banking is not only for individual clients, but also for large companies and institutions. For them we offer very often sophisticated products and platforms, agreed Marek Lenz, CIO, Pekao SA.

In order for banks to maintain their position on the market, their digital transformation is necessary, which, as noted by Łukasz Dziekan, Member of the Management Board, Allegro Pay, is a complex undertaking for them. Financial institutions should treat IT as a profit, not a cost, and the process of change should be carried out in such a way that it is as little felt by clients as possible.

I believe that the transformation of a large IT environment in a bank is a difficult task. It is worth considering alternative solutions - starting a new brand or a new way of customer service. There are already such possibilities thanks to the current technology for banking. It brings less risk, lower investments, shorter implementation time. I encourage everybody to do it. Renovation can be tiring and long lasting and does not always bring expected results. Sometimes it is better to just buy, build from scratch, concluded Mirosław Forystek, Member of the Management Board, Vodeno.

Answering the question whether to build or renovate, Adam Marciniak, Vice President of the Management Board, PKO BP, had the same opinion.

If an organization has strong roots, strong legacy and high value, and in addition it operates on the market and has managed to build competences that are digitally ready to manage change, then there is no special discussion, we build. This is another element of evolution. We move from one state to another. And in the banking sector, at the largest banks, this is what happens, concluded the member of the Management Board of PKO BP.

But how much time is needed to build a new bank? What is important at the beginning of this process? These questions were answered during Tomasz Blicharz's speech, Asseco BooX Product Marketer.

So far, the construction of a bank has often taken several months. From now on, it may take only a few days to launch a bank, said the Asseco’s expert, who also pointed out a very important issue - to test a given financial initiative before its launch on the market.

Banks precisely plan the construction of their own organization and then design it. The process of equipping themselves with systems and platforms lasts even longer. Checking and testing takes place only at the end. It's time to change that approach and run tests already from the level of requirements analysis, he said. Testing an idea for a bank at the beginning of its construction makes more sense than doing it at the end of the project, he added.

Asseco has developed a solution that enables such tests. Asseco BooX  (Bank out of the Box) is the first cloud platform in Poland that can be used as a seed for building a new bank as well as for rebuilding or modernizing an existing financial institution.

The conference participants agreed that technology was one of the key elements both in the process of building a financial institution and its functioning. Dynamic changes on the market and growing expectations of clients mean that the banking sector should ask itself the following question: "What should be changed in technology today to be able to sell tomorrow?". The experts answered this question during the second debate.

There will be increasingly more processes that will be handled digitally. Here we have to look through the eyes of clients and their needs. Not without significance are the regulatory elements and how they allow to move the border towards complete digitization, said Łukasz Kozioł, Director of Product Management Department, Bank Ochrony Środowiska.

Marek Chlebicki of Raiffeisen Bank International AG agreed with the above statement and emphasized that the adoption of digital processes accelerated considerably, but financial institutions did not have to digitize everything and give up their physical experience. They can combine these experiences.

Digitization boundaries are determined by customers and their needs. There are areas that can be digitized, others require human participation, said Marcin Dzienniak, Director of Sales Application Development and Support Department, PKO BP.

Complaint and IT processes exist and will continue to exist, regardless of whether we go to the cloud. For example, a mortgage can be automated, but does a customer expect this? What they need is contact with an advisor, added Grzegorz Pędzisz, CIO, IDEA Bank.

This does not change the fact that in order to be effective, an advisor needs IT solutions that will make their work easier and faster. Paweł Kapel, President of the Management Board of the Cooperative Bank in Lubaczów, which uses the Common IT Platform (WPI), a comprehensive IT solution offered by Asseco in the SaaS model, knows how important the level of customer service is.

Why did we migrate to Asseco Poland’s Common IT Platform? The answer is simple: for us the most important thing is a client, said Paweł Kapel. Since September 21 we have been already working with WPI’s help. We can open a current or deposit account in six minutes. We now have advanced tools to assess the creditworthiness of customers, which we are particularly pleased with, he added.

The first step in customer service, however, is to get a customer. How to draw a customer’s interest? How to create an offer that is attractive and tailored to their needs? In this case, artificial intelligence and marketing automation can come in handy.

The automation of marketing is an indispensable part of our UX approach and a logical supplement to it. We want our customers to be informed at the very beginning about all the products that can be useful in their particular case, said Daniel Mączyński, Vice President of the Management Board, PragmaGO.

We streamline sales processes and help implement innovative solutions. When we talk about marketing automation, we know that thanks to Asseco's solutions, the rates of new customer acquisition and purchase conversion are much higher. We are aware of how important this direction is, as by the end of 2023 financial institutions intend to allocate 48% of their marketing expenses to the implementation of self-learning solutions, added Marta Mróz-Sipiora, Product Manager, Asseco Poland.

The Asseco Banking Forum 2020 ended with a speech by Piotr Czarnecki, Business Leader, an expert in banking and digital business and an academic lecturer, who concluded that in order for Polish banks to remain at the forefront of the services they have so far specialized in, they should be intelligent, personalized, multi-channel as well as offer both banking and non-banking services.

The Polish financial and retail consumer market has long been characterized by a high level of competition. Clients increasingly more often benefit from immediate and dynamic choice of product offer available in digital channels. Each of the products offered there must meet the current needs of consumers, but is not always correctly recognized by suppliers. The time from the purchase order to the product receipt is shortened. A consumer will choose the offer that best satisfies their needs with the lowest purchase cost and the safest form of delivery, which is particularly important during the pandemic. Therefore, it is not only the manufacturer but also the distributor of the product that matters. Today, as never before, it is important to match the original purchase need and the financial needs of a consumer. For banks and other financial institutions it means the necessity to constantly increase the advantage over the competition, which does not only include banks but also entities operating on e-commerce platforms. They must develop their technological background and implement innovations and optimization processes. Therefore, they face the challenge of choosing the right direction of their activities and the right solutions.

The construction or expansion of platforms offering financial products requires putting forward a thesis on the validity of the business model assumptions and its testing. Asseco BooX is the first operational technology platform containing a defined set of processes intended for handling financial products, which can be adapted to operate in virtually any market. As a cloud-based subscription platform, BooX is ideal for testing business hypotheses and proving the validity of new models of banks and e-commerce platforms. It is a perfect solution for neobanks, banks under consolidation, test and regulatory sandboxes and marketplace solutions (in e-commerce). Already at the early stage of obtaining a banking license, it enables new initiatives to prove high operational readiness to the national regulator. Entities already present on the market can use its features (subscription, working in a technology sandbox) in the process of testing and launching new services. The transformation or consolidation of banks is a natural application of the BooX platform. The innovation necessary for the development of financial institutions will be ensured by using solutions developed within the Asseco Innovation Hub, e.g. voicebots, built into the platform. Additionally, an organization can take advantage of the services of Asseco Business Consulting, which support business transformation.

The uniqueness of Asseco BooX lies in the fact that it is the first such comprehensive solution developed in Poland. It is a fully mature tool ready to launch and handle banking processes. It is important to remember that in the near future financial services will be increasingly more strongly connected with the natural needs of a client - said Tomasz Blicharz, Asseco BooX Marketer, Asseco Poland.

Asseco BooX is available in a subscription model, but it can also operate traditionally - based on a license purchase. Operationally, it works in the following models: stationary, cloud or hybrid. Both the availability of particular functionalities and the cost incurred by institutions depend on the actual level of their use.

The platform, operating on the basis of this solution, was made available this year in the Cooperative Bank in Lubaczów.

***

The development of software for banks is one of the key areas of Asseco's business. The company offers, among others, central banking systems and omni-channel and mobile solutions, responding to the latest trends in global banking. Thanks to its experience and competence, Asseco has implemented its solutions (core banking engine) in over 800 banks. The company is a leading provider of IT solutions for the banking sector in Poland and operates in many European countries, as well as on African and Israeli markets.

For more information on the BooX platform, please see the website: http://boox.asseco.com/

Having in mind the needs of individual investors, Asseco has decided to create an accessible and intuitive solution that will comprehensively support this growing group of clients of brokerage houses. Many years of experience in the development of solutions for the capital market has allowed us to develop a new, fully digital, sales channel for consulting services. PROMAK Mate will be able to offer investment models individually tailored to investors’ needs, support them in creating a real portfolio, and then constantly update it and control the results achieved.

PROMAK Mate represents a new trend in the way consulting services are offered. Its versatility is expressed in the flexibility of building investment portfolios, adjusted to an individual investor's profile and consisting of any type of assets. The possibility of quick implementation in a brokerage office means unprecedented investment comfort for a large group of clients who have operated in this market so far without additional support, said Marcin Zaniewicz, Business Expert and Consultant, Asseco Poland.

The process of investment advice begins with collecting information necessary to create an individual client profile (planned investment period, risk propensity, investment objective). Next, tailored model portfolios are proposed, together with investment efficiency simulations for different scenarios. The next step is to verify the contents of the portfolio, and then maintain it in accordance with the chosen model by systematically submitting recommendations to buy or sell specific financial instruments. 

PROMAK Mate is a fully scalable solution of the RWD (Responsive Web Design) class providing comfort of work regardless of the type of tool used (computer, tablet, smartphone). The solution can be easily integrated with existing tools in the area of digitization of investment services, banking systems or AI and machine learning solutions. In combination with the ePROMAK NEXT system developed by Asseco, it provides a unique service in which an investor has access to both automated consulting and investment account management.

***

Asseco is a provider of the PROMAK family of solutions dedicated to the financial sector, which effectively support the work of brokerage houses, banks, depositors and investors, both individual and institutional. The company cooperates with nearly half of the Polish brokerage houses and offices present on the Warsaw Stock Exchange (WSE), whose approx. 50% of turnover is accounted for by products from the PROMAK family. In addition, Asseco's solutions support about 650 thousand domestic investment accounts.

PROMAK Mate website 

The year 2019 was very successful for Asseco - for the first time we generated PLN 10.7 billion in consolidated revenues and PLN 976 million in operating profit. In line with our strategy, we focused on production of our proprietary software and provision of related services. Revenues from this business accounted for 81% of our sales. Foreign markets represented by the Asseco International and Formula Systems segments accounted for 89% of our revenues. This confirms that the Asseco's vision of development, consistently pursued over the years, focused on development of proprietary software and acquisitions of companies engaged in its production, is the right direction to build the strong Asseco Group and a good way to diversify our activity across sectors and geographic regions - said Adam Góral, President of the Management Board of Asseco Poland.

The digital revolution in individual areas of life was already well advanced before the outbreak of the pandemic. In Poland, the financial market could boast about a particularly high level of digitization. Additionally, actions taken in the field of public administration allowed to increase the number of citizens using the trusted profile – a public e-identification tool - and the number of available public e-services. The number of trust service providers operating within the legal framework defined by the EU regulation on electronic identification and trust services for electronic transactions in the internal market, i.e. the so-called eIDAS, has been systematically increasing throughout Europe. On the other hand, although the electronic circulation of documents characterized the internal organization of a significant part of enterprises, it did not translate into their secure and reliable exchange between individual business entities and was not of a cross-border nature.

COVID a digitization catalyst

In the period from March to September 2020, when the limitations of the COVID-19 pandemic were most severely felt, many companies and public administration units were forced to carry out accelerated digitization processes. The situation not only intensified the pre-existing trend of moving communication or work to a remote formula, but also forced digitization in the area of transactions - declarations of intent, identification or signing of contracts.

In those areas, for some time now, we have had at our disposal European regulations such as eIDAS, introducing tools in the form of trust services and electronic identification. Coronavirus has been verifying on an ongoing basis to what extent they have been fulfilling their function and whether they have been actually used, and to what extent companies or public administration have rather applied ad hoc or substitution solutions. The new post-Covid normality requires that many of the developed technical and legal processes remain with us for a longer period of time, and this will mean that the approach of business and regulators to the use of trust services and eID will have to be revised to make them even more common and useful, said Simina Mut, Partner, CE Legal Leader, Deloitte Legal.  

The need to conduct business in difficult conditions caused that further and deeper digitization of internal processes allowed to combine business objectives with concern for employee safety. Among Polish entrepreneurs, the most changes introduced were to enable remote working - this is how 56% of the respondents to the survey conducted for the report pointed out. The second most common area (51%), within which digitization projects were carried out, were the company's internal processes concerning the circulation of documents and signing contracts on-line. Coronavirus contributed to the acceleration of already implemented activities aimed at digitization of processes in the organization, as well as to the immediate launch of new initiatives, crucial for the current functioning of enterprises.

We are seeing increased interest in digitization in business, and its reception is definitely better than before the outbreak of the pandemic. This is especially true in the financial sector - banks and leasing companies, where remote management and decision making are now heavily explored. Also sectors such as human resources, which previously did not fully see the need for digitization, are now considering how to digitize the processes of signing contracts in order to comply with the rigours of the civil code, said Artur Miękina, Key Projects Sales Director, Asseco Data System.

44% of the respondents indicated that their companies carried out projects related to the digitization of the broadly defined area of human resources management (HR). On the other hand, in the remaining areas, companies have still not decided to implement digital tools, even though the law largely offers this possibility.

The opportunity has not been exploited by utilities and telco companies. Out of the leading Polish energy and gas suppliers, only two allow potential customers to sign the contract remotely. The market of mobile operators is similar. Only in two cases the purchase process can be carried out completely remotely, including signing the contract, but it should be noted that these are not "standard" offers but products aimed at selected market segments. Equally few providers offering Internet access and TV packages enable the electronic conclusion of the contract - said Miłosz Brakoniecki, Partner, Obserwatorium.biz.

Electronic signature

Currently, the basic tool to facilitate remote business is electronic signature. There are more than 600,000 qualified certificates active in Poland, which, however, still contrasts with the number of issued payment cards (43 million units, i.e. significantly more than one card per one adult in the country), which are mass products. However, an increase of about 100,000 certificates (17%) on a year-to-year basis should be noted. This means that the "paperless" revolution is still far behind the fast progressing "cashless" revolution in our country.

The most frequently (63%) mentioned document for which an electronic signature is used is the annual financial statement. In turn, 61% of the respondents pointed to financial agreements, such as loan agreements, collateral agreements, investment agreements, etc., as well as employment documentation - including employment contracts, internal documents concerning the company's policy, regulations and employee applications. Only slightly less popular are powers of attorney (54%) and minutes of the board meeting or written resolutions (51%).

I think that over the last six months many organizations have found out that digital tools significantly facilitate remote work and maintain business continuity. Take document workflow, for example, when most employees work remotely. We've seen the growing popularity of digitizing this process and using SimplySign mobile qualified electronic signatures. At the peak of the lockdown, the interest in this tool was 600 percent higher than a year before, said Tomasz Litarowicz, Director of Security and Trust Services, Asseco Data Systems. It is noteworthy that, as our survey shows, the majority of respondents with a qualified electronic signature use it more than 20 times a month, so very often. Therefore, it seems that its holders not only use it to perform public law obligations, which can only be fulfilled electronically, but they have also noticed the potential of a wider application.

Regulatory conditions

One of the main legal aspects of digitization of economic processes has always been the issue of effective conclusion of contracts by electronic means - remotely and without generating the need to send paper documents. However, for such a digital solution to be really successful, it still has to guarantee its legal effectiveness also in the cross-border dimension. In particular, the eIDAS regulation aims at ensuring a common, high standard of qualified electronic signature. The aim of such standardization is first and foremost to ensure that the legal validity of qualified electronic signatures is recognized in all Member States despite being issued in only one Member State.

Unfortunately, the widespread cross-border nature of trust services exists only in theory for the time being. In practice, not only do we encounter psychological resistance to the use of "foreign" e-tools for contracting, but we still face legal and practical barriers to a large extent. The fact that a given document is legally effective in one country does not necessarily mean that it will be enforceable in another country. An interesting trend in this area are platforms for signing electronic documents that integrate e-signature tools from different suppliers. The most widespread of them are present in practically every Member State. Therefore, it is possible that cross-border trust services will follow this way - said Marta Gocał, Managing Associate, Legal Adviser, Deloitte Legal. The experience of recent months shows that Europe needs not only cross-border, but also interoperable solutions for the circulation of electronic documents. The solution here may be eDelivery, which has already proved its worth on some markets and is planned or already implemented on others.

Demand for digitization

According to the authors of the report, the increase in the popularity of remote client registration in the commercial sector and the trusted profile in public administration in Poland indicates a huge demand for electronic identification services, which can be supplemented by other digital commercial solutions. Electronic identification itself is becoming a key service that should have a clear framework for legal functioning in public administration and the commercial world. Its implementation must be convenient and safe for end customers and include as many online processes as possible. According to the report, not only e-signature, but also electronic delivery and electronic seals have the potential as tools meeting the needs of companies and consumers in the digital transformation. In order to properly implement them, communication and partnership between the commercial sector and regulators at the European and national level is essential.

The report "Trusted Economy in a new reality. Reducing the risk associated with fast digitization", prepared by Asseco Data Systems, Deloitte Legal and Obserwatorium.biz, was presented and discussed during the European Electronic Signature and Trust Services Forum. The full report is available for download at www.efpe.eu.

In March, when the pandemic caused the freezing of the economy, the government launched a package of solutions to protect those most affected by the downturn. As a result of the announcement of successive legal acts of the so-called "Anti-Crisis Shields", ZUS had to deal with many new obligations aimed at handling applications concerning, among others, exemption from paying contributions, “waiting time” benefits or the so-called solidarity allowance.

Subsequent acts meant that ZUS had to perform additional duties almost overnight after their publication. Out of the five "Shield" acts and the act on the Polish Tourist Voucher, three had one-day vacatio legis, and the remaining three were in force from the date of publication.

Additional tasks of ZUS related to counteracting COVID-19 were mainly related to handling new applications. For each type of application it was necessary to design, implement and launch appropriate business processes. The scale of the project, limited number of people to handle the documents and critical time constraints meant that the project had to assume the maximum automation of all new processes - summarized Arkadiusz Wójcik in his presentation entitled "The importance of IT for a state during the crisis. Success factors when an IT project becomes a race against time".

By September 15, almost 3 million applications for the "Anti-Crisis Shields" were received, 85% of which were processed fully automatically, without any human intervention, said the Asseco expert. The project carried out in such unusual conditions as the pandemic time could only be successful thanks to the proper organization of work, the effective way of building solutions and the competence and commitment of the people involved in the project - he added.

The successful implementation of the solutions enabled employees and entrepreneurs affected by the lockdown to benefit from the assistance provided by legal acts. In the most difficult period of the pandemic, ZUS fulfilled all additional obligations imposed on it by Covid-19 on time. This was only possible thanks to the use of new technologies and process automation.

The implementation of an IT solution of this scale requires many years of experience of a public entity’s employees in short-term execution of complex projects and a partnership relationship with a stable and trusted contractor which has both competence and execution potential, said the Asseco representative.

Asseco is the largest IT company in Poland and the region of Central and Eastern Europe. For almost 30 years, it has been developing technologically advanced software for companies from key sectors of the economy. It is present in nearly 60 countries and employs about 27,000 people. It develops both organically and through acquisitions - since 2004 it has carried out nearly 90 of them. Asseco companies are listed on the Warsaw Stock Exchange (WSE), NASDAQ and Tel Aviv Stock Exchange. The company is a leading producer of software for the public sector in Poland. It provides solutions for over 350 entities - both central and local government offices. It has built and implemented comprehensive systems for, among others, the Social Insurance Institution (ZUS), the Ministry of the Interior and Administration, the Ministry of National Education and the Agricultural Social Insurance Fund (KRUS). In addition, for many years Asseco has been a trusted partner in the execution of projects in the areas of health care, uniformed services and security as well as power engineering and telecommunications.

The Group's very good financial results in 2019 allowed us to pay a dividend of PLN 250 million, which means PLN 3.01 per share. Asseco has been sharing its profits with shareholders for years and has so far allocated PLN 2.4 billion for this purpose, said Adam Góral, President of Asseco Poland.

Under the signed agreement, Asseco will provide 24 drones intended for observation in various conditions. They will be equipped with sensors operating in both visible light and infrared band. The system, delivered to the Ministry of National Defence, offers, among other things, the ability to merge reconnaissance data obtained from both sensors. 

Asseco is a proven partner for the defence sector. This is yet another time when we will provide specialized equipment for various types of military operations. The unmanned system we have created is a project of young Polish engineers and will be entirely produced in Poland, of which I am particularly proud. It is a very versatile solution that can be used both by uniformed services: military, police, fire department, as well as in civil applications such as agriculture - said Zdzisław Wiater, Director of International Organizations and Security Sector Solutions Division, Asseco Poland. 

Each of the 6 sets delivered by Asseco will consist of 4 UAVs, steering and control stations together with a transmitting and receiving system. The equipment is to increase situational awareness on a battlefield with minimal involvement of ground personnel - it will be operated by one soldier. 

Asseco is a recognized provider of solutions for the Polish uniformed services and has been increasingly more active on the global market. Currently, it has over 350 clients worldwide. The company has gained its experience through the implementation of projects for the Ministry of National Defense, the institutions and agencies of the European Union (FRONTEX, ESA and EDA) and NATO. Asseco meets the highest standards of both data and classified information protection. It holds, among others, the Industrial Security Certificates. 

uas.asseco.com 

New financial reporting requirements

Since 2020, the European Securities and Markets Authority (ESMA) has imposed an obligation on all companies listed on stock exchanges in the European Union, which prepare their financial statements in accordance with IFRS (International Financial Reporting Standards), to report in the new technical standard XHTML. In addition, companies that prepare consolidated annual reports are required to report in the Inline XBRL (iXBRL) format.

A financial statement is the most important report published by a company. It is the basic source of information on the financial and asset situation of the company. The quality, usefulness and reliability of the information contained therein are the key points of interest of internal and external recipients. The information is used, among others, by members of supervisory boards, investors, analysts, contractors, banks, companies insuring contracts and providing commercial guarantees, as well as many other participants of economic life - said Ewa Matlak, Project and Product Manager at the Regulatory Solutions and Risk Division of Asseco Poland.

The amendment introduced by ESMA added the possibility of machine data processing and the option to compare information published by individual companies. In order to comply with the new reporting obligation, appropriate tools are required to enable the ESEF (European Single Electronic Format) report preparation.

IT system as answer to challenge

The change of regulations means that companies will have to choose an IT system that will support key areas of the reporting process. They will need a solution that will help with the organization at each stage of the process. In particular, such a solution will provide the possibility of preparing financial statements in the iXBRL format in accordance with the ESEF standard.

The Asseco ESEF system was built on the basis of Asseco's many years of experience in providing reporting solutions to the Polish financial market. It offers ergonomic and user-friendly processes and functions that enable the preparation of financial statements in a form that allows for their submission directly to the Polish Financial Supervision Authority (KNF), meeting the requirements of ESEF - emphasized Ewa Matlak. Asseco ESEF enables independent work of users and full control over the process by a company, automating all possible steps, which increases the efficiency of user's work.

The solution is provided via a web browser. It enables the preparation of financial statements in the ESEF format and their export to the appropriate format (e.g. xHTML, iXBRL). Asseco ESEF integrates with Microsoft Office - Word and Excel - allowing for comfortable and intuitive work on financial statements.

Thanks to the integration of Asseco ESEF with the Asseco Reporting Platform, it is possible to fully support the process of preparation of financial statements, including the process of consolidation of statements within the capital group. Such an approach enables the organization of reporting processes in a company, its automation, increase of work efficiency and reduction of operational risk of the reporting process - summarized Ewa Matlak.

Asseco ESEF is offered in two variants tailored to a company's needs:

• On premise - a solution designed to run in a customer environment with the possibility of individual adaptation and customization to the needs of an organization,
• On cloud - the most financially beneficial proposal, a solution offered in the form of a service in a comfortable and secure Oracle Cloud.

More information on: esef.asseco.com

Cooperative banks have a less complex organizational structure than commercial banks, as well as a lower level of specialization of individual units. Therefore, they have a greater need for automation and maximum simplification of service. Asseco Poland, in cooperation with cooperative banks, has created a solution that will enable the introduction of automation of some tasks and reduce operating costs of the entire organization.

A great opportunity for the development of the entire cooperative banking sector and a response to the growing costs of IT infrastructure is the standardisation of activities and the sharing of services. The Common IT Platform has allowed to introduce tools that can be used by many banks. The standardization of their work will facilitate customer service processes without losing individual features necessary to compete on local markets. This is the first solution in Poland that can be described as a "bank in the socket" because it contains everything a modern financial institution needs today for its current functioning and further development - said Andrzej Nowakowski, Director of Cooperative Banks Division at Asseco Poland.

The solution has been created in cooperation with the banks of the BPS Association. The Cooperative Bank in Lubaczów was the first to implement the Common IT Platform, while in the Cooperative Bank in Płońsk the implementation is at the final stage.

By observing the market and our customers, we came to a conclusion that a change was needed. The system we had no longer met our expectations because it did not allow for efficient­ integration with other tools available on the market that we wanted to­ implement. We were looking for a solution that would be comprehensive, expandable and accessible to all. During discussions with Asseco’s experts, we decided that the­ designed solution was to­ serve other cooperative banks. The implementation is expected to increase the business scale,­ rationalize costs and increase data security - said Dariusz Konofalski, CEO of the Cooperative Bank in Płońsk.

To meet the expectations of our customers, we decided to implement a modern system - the WPI platform, thanks to which they received access to new functionalities in Internet banking, soon mobile banking, or services such as My ID and BLIK. In addition, the new system has had a measurable impact on the quality and speed of service in the branches, thanks to which our customers and employees save time. All new offers are implemented much faster, which will surely translate into their competitiveness in relation to products offered on the market - said Paweł Kapel, CEO of the Cooperative Bank in Lubaczów.

The platform can be parameterized according to individual needs. Thanks to the solution, processes that are similar in all banks (accounting, billing, reporting, risk management, anti-money laundering, pricing) can be automated and consequently lead to lower back-office costs in each institution. At the same time the platform allows for individual shaping of areas independent for each bank, such as building an offer.

The Common Information Technology Platform (WPI) is available in the SaaS model, which reduces the costs associated with maintaining separate infrastructure and resources for their maintenance. Each bank using WPI receives an electronic banking solution, transaction system, reporting and analytical tool and intuitive omni-channel solutions. Asseco takes over the responsibility for the hardware infrastructure, maintenance of the server room, licenses and software updates, as well as daily closures.

During the European Electronic Signature Forum, experts from all over the world, representing the business and legal environment, European standardization institutions and research and consulting companies, will summarize how the events of recent months have affected the development of paperless solutions. They will also present the most interesting implementations and analyze trust services in the context of technologies such as blockchain, 5G network or IoT.

The European Electronic Signature Forum has been a key event in the security and trust services market for 20 years. This year we decided to change the form of the meeting and organize it online. Moreover, we decided to launch a free participation option - said Tomasz Litarowicz, EFPE Conference Director. The e-conference model is a challenge, but most of all an opportunity for experts and participants from around the world to participate. We are hoping that the involvement of speakers from other countries will contribute to an even higher substantive level of this event - he added.

One of the main points of the conference will be the publication of the report "TRUSTED ECONOMY in new normal" prepared by Deloitte, Obserwatorium.biz and Asseco Data Systems. The situation related to the pandemic has accelerated the digitization of companies. However, to a large extent, it was a fast digitization "at all costs", which brought some compromises and, consequently, did not provide an adequate level of cyber security. This process was also accompanied by the introduction of legal regulations both in Poland and in the whole European Union, which were to support it. However, they did not address all the needs of electronic circulation. The aim of the report is to show how trust and electronic identification services can maintain the trend of digitization of processes in a safe and user-friendly track and how they can help other businesses as well as consumers to enter the path of secure digitization.
A honorary patronage over the EFPE 2020 conference was taken by: the Ministry of Digitization, the Polish Information Technology Society (PTI), the Polish Chamber of Information Technology and Telecommunications (PIIT), NASK, the European Telecommunications Standards Institute (ETSI).

We encourage everybody to make time for September 30, 2020 and take an active part in the conference, which will be held in 3 languages - Polish, English and Russian.

The registration form is available at: www.efpe.eu.

The consolidation of the banking market, the entry of new players - fintechs and the environment of low interest rates have shaped the conditions of the financial sector in recent years. This year another factor has been added to the above mentioned - the uncertainty and unpredictability of the near future, related to the coronavirus pandemic and its social and economic consequences. This forces the banks to re-solve the previously known dilemmas. The difference is that this time, it is not about greater or lesser efficiency as a result of decisions made. Now it may determine their survival," said Adam Góral, President of the Management Board of Asseco Poland.

For more information about the conference and its agenda, please see the website: https://bankingforum.asseco.com/.

Asseco International operates in 41 countries and Formula Systems on 22 foreign markets. In 2019 the Asseco Group's revenues exceeded PLN 10 billion for the first time ever, 89% of which was generated by international operations.

Geographic diversification is one of the pillars of Asseco's development strategy. We are present on 5 continents in 58 countries, where we employ nearly 27,000 people. We are developing organically and through acquisitions – since 2004 we have carried out almost 90 of them. We can see that our strategy brings measurable effects and allows us to build the strength of Asseco on the international arena - says Marek Panek, Vice President of the Management Board of Asseco Poland.

We consider paying taxes in Poland as our duty and an expression of economic patriotism, which we have been advocating for many years, says Artur Wiza, Vice President of the Management Board of Asseco Poland. Asseco pays taxes in the places where it earns its revenues and we always want to be a good example of a company that supports the development of the countries where it operates. We are glad that increasingly more entrepreneurs have been acting similarly. These are the foundations of economic wisdom, which should be strengthened and developed to create a strong economy, he adds.

The total amount from CIT that went to the state budget by August 1 this year amounted to PLN 30 billion. A list of the largest contributors is available on the Ministry of Finance website.

The Asseco Convergent Services Environment platform is Asseco’s proprietary BSS (Business Support Systems) solution developed to support telecommunications operators as well as Internet and TV providers in sales, service and billing of services. They can use it as a multi-channel package of systems supporting day-to-day processes. It also enables the combination of many different products into one consistent offer, settled under one invoice. It can support the processes of sales, service and settlement of convergent services. Making Asseco CSE available in the cloud, as a service, is an innovation on the Polish market. For customers, it means the optimization of costs related to software implementation, as well as operating and maintenance fees in proportion to the size of their business.

Our solution for telecommunications operators is based on the latest technologies. We have created an innovative tool for the telecommunications sector, and additionally we provide it in a very cost-effective and convenient model. Together with our partners, we have completed the installation of the platform under a project at one of the leading Polish mobile operators, said Radosław Semkło, Director of the Telecommunications and Media Division at Asseco Poland.

The Asseco CSE platform installed in the public clouds of the largest providers on the cloud computing market is an offer addressed to small and mid-sized operators and telecommunications enterprises as well as media companies. Instead of a traditional approach, the new business model assumes the provision of BSS (CRM, Product Catalogue, Billing) as a service in the Software as a Service (SaaS) model directly from the public cloud. From the contracting party's point of view, this is a major change, since it primarily reduces the initial investment costs associated with IT infrastructure and its maintenance. In turn, the model proposed to larger operators is to provide the system Asseco CSE in the private cloud.

The cooperation between IBM and Asseco teams has resulted in the creation of a Asseco CSE hybrid cloud platform based on IBM Cloud Pak for Applications, a solution that enables organizations to modernize existing apps and develop new ones that can run on-premises or on any Red Hat OpenShift-based private or public cloud. Asseco CSE is an example of such a new application. Importantly, the applied solutions ensure system security, which is crucial from the point of view of customers when implementing cloud tools, said Sebastian Pietrzak, Director responsible for IBM & RedHat business development at IBM Poland and Baltics.

Asseco CSE is an extremely important system for many telecommunications operators and electronic service providers. We are very pleased that this solution can now benefit from all the advantages of the Google Cloud Platform, so that companies can build a consistent and flexible offer for their customers much easier and faster. Building its solution based on Google Cloud, Asseco has provided the system with even greater scalability, stability and security, said Bartłomiej Danek, Google Cloud Sales Manager, Google Poland.

 ***

Asseco is the largest IT company in Poland and the region of Central and Eastern Europe. For nearly 30 years it has been developing technologically advanced software for companies from key sectors of the economy. The company is present in over 55 countries around the world and employs over 27 thousand people. It develops both organically and through acquisitions - since 2004 it has executed over 80 of them. Asseco’s companies are listed on the Warsaw Stock Exchange, NASDAQ and Tel Aviv Stock Exchange.

Red Hat is a trademark or a registered trademark of Red Hat, Inc. or its subsidiaries in the United States and other countries.

Access to current and historic medical records is an important factor affecting the effectiveness of treatment. Storing paper versions of data is associated with the risk of their loss or destruction. In the case of chronic diseases such as diabetes, for example, a daily logbook of measured data is required, which is often complicated and time consuming. In order to improve the comfort of patients, Asseco has developed a solution that will make it easier for chronically ill people to continuously monitor life parameters, including glucose levels, and collect them in one place. Additionally, the collected data can be transferred via the “Informacje Medyczne” mobile application to the attending physician, which improves the course of treatment.

The "Moje Pomiary" application can be used in two different ways. The patient can manually record various health indicators, e.g. current blood pressure, temperature and body weight. In the case of diabetics using Glucomaxx Connect, the data are automatically transferred to the application without having to enter them manually.

We want the solutions we create to facilitate the functioning of both medical facilities and their patients. The "Moje Pomiary" application was created especially for people who often provide information about their health to doctors. Thanks to this, they can be quickly attached to their records stored in the electronic system of the medical unit. No scanning or transcription is necessary. Thus, the application also improves the work of doctors, who thus have more time for the patient during their check-up visit - said Krzysztof Groyecki, Vice-President of the Management Board, Asseco Poland.

Asseco's solution allows for individual configuration of standards for the entered results, creation of a customized measurement log as well as graphs presenting historical data. The "Moje Pomiary" application is available for users of mobile devices with Android and iOS operating systems. It belongs to the family of Asseco Mobile Patient Apps (AMPA), which has been developed to support patients in their treatment process. AMPA includes both stand-alone applications and those that support cooperation with Asseco's solutions operating in medical care facilities across the country.

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”Moje Pomiary" website
Check other Asseco mobile applications

Nearly 70% of customers say that banks do not react to changes in their financial situation. Currently, clients expect a better fit of offered products," said Marta Mróz-Sipiora, Product Manager, Asseco Poland. In order for financial institutions to build a positive customer experience and maximize the probability of purchase, they need a thorough analysis of the clients’ behavior and preferences. Such opportunities are provided by ACI, which, using artificial intelligence mechanisms, "learns about" the client and their expectations and current needs. Owing to this, the financial institution can offer a profiled offer in real time, which encourages a quick purchasing decision, she added.

The aim of "The Innovators 2020" competition is to recognize the most innovative institutions and providers of services and solutions that set new trends for the financial sector.

Asseco has once again been awarded by Global Finance. In the previous contests, the following solutions won a recognition: Asseco Enterprise Banking Platform - Digi Trade (Asseco EBP - Digi Trade) and Asseco Advisory Banking Platform (Asseco ABP).
The magazine is published in 187 countries. Its readers are mainly people who make strategic decisions in international companies and financial institutions.

More information about Asseco Customer Intelligence on https://aci.asseco.com/en/

Asseco Central Europe in the „Information Technology Trend TOP” rank

I am convinced that the combined competence of SKG and Asseco Poland will enable even better execution of projects for central offices and business. Joint teams will give more value to our clients. It is also an important step in building Asseco's position as a European IT leader
in the area of customs and taxes - said Piotr Sitek, Director of the Government Administration Division at Asseco Poland.

SKG's existing clients include over a dozen Polish central offices, regional government and local government administration bodies, as well as private companies from the pharmaceutical, financial and insurance, energy, fuel, retail, transport and food sectors, among others.

The merger between SKG and Asseco Poland was effected by a take-over pursuant to article 492 § 1 item 1 of the Polish Commercial Companies Code and transfer of all the assets of SKG to Asseco. Following the merger, SKG was dissolved without liquidation.

Our goal is to increase the competitiveness of cooperative banks on the financial market - said Kamil Parzuchowski, Business Development Manager, Asseco Poland. CUI.Ubezpieczenia, by integrating with the banking system, automates most of the processes, e.g. data exchange or settlement of premiums, thus providing support for an advisor who can focus on other aspects of customer service. Another facilitation for bank employees is one common sales front-end to handle different products offered by different partners - he added.

The aim of the 18th edition of the "Leader" technology contest was to select the most interesting and innovative solutions that were implemented last year.

2019 was a very successful year for Asseco - for the first time we generated PLN 10.7 billion in consolidated revenues and PLN 976 million in operating profit, said Adam Góral, President of Asseco. This confirms that Asseco's vision of development, consistently pursued over the years, focused on development of proprietary software and acquisitions of companies engaged in its production, is the right direction to build a strong Asseco Group, he added

We understand that one of the conditions for maintaining the leading position on the IT market is innovation - said Grzegorz Warzocha, Director of the EU Projects Office, Asseco Poland. That is why research and development is such an important area of our business. In 2019 alone, we conducted 64 research and development projects, most of which were carried out with our own funds. In addition, we employ 5,200 people in the R&D segment, which only shows our huge commitment to these activities - he added.

Asseco in the Computerworld TOP 200 ranking:

Asseco is the largest IT company in Poland and the region of Central and Eastern Europe. For nearly 30 years, it has been developing technologically advanced software for companies from the key sectors of the economy. The company is present in over 55 countries around the world and employs nearly 27,000 people. It develops both organically and through acquisitions, which it has made over 80 since 2004. Asseco’s companies are listed on the Warsaw Stock Exchange, NASDAQ and Tel Aviv Stock Exchange.

Computerworld TOP200 is a prestigious report on the ICT industry in Poland. Its aim is to present the overall condition of the ICT sector and the prospects and challenges it faces. For nearly 30 years it has been the main source of information on market leaders in particular segments. The report has been under the patronage of the Ministry of Digitization, the National Centre for Research and Development and the Ministry of Development.

"During the pandemic, it is crucial for medical facilities to maintain continuity of medical care on the one hand, and on the other hand, to implement and apply appropriate safety procedures in connection with the coronavirus pandemic. IT solutions come in handy" - said Jan Butkiewicz, Deputy Director of the Sales Department at the Healthcare Division of Asseco Poland.

With a view to the actions to be taken by a medical facility in the event of a patient with suspected or diagnosed COVID-19 virus, Asseco has prepared two unique services that have been added to the ICT services package.

A special BioHazard module will allow a hospital to properly mark and search for patients with suspected COVID-19 or other serious viral or bacterial disease in its database.

The second tool is the COVID Patient Register, which will enable integration with the COVID National Patient Register. This will eliminate possible duplication of information entered and immediately confirm the case of previous coronavirus diagnosis. Hospitals will also have access to the 'PreTRIAGE' records form, which includes medical history information.

Other solutions made available under the "Together against COVID" package support remote communication with a patient. Tele-advice, using audiovisual communication technology, allows doctors to give advice remotely, providing access to a patient's digital medical records. E-Notifications improve communication with a patient via automatic SMS or e-mail messages. Their important functionality is also the possibility to send a PIN code for e-Prescription. In turn, E-Confirmations enable a patient to easily confirm or cancel a visit by e-mail or text message, thus freeing overloaded telephone lines of medical facilities and reducing the number of uncancelled visits.

Launching the additional IT services does not require a complex implementation
and additional infrastructure investments by a medical facility. Also a patient does not need to install any software, the only requirement is the access to a web browser on a phone or computer.

The package "Together against COVID" can be used by AMMS users. The service is available free of charge until July 31, 2020. For more information and a contact form, please see www.asseco.pl.

Today, Asseco is not only the largest IT company in Poland and the region of Central and Eastern Europe, but also a global player - said Adam Góral, President of Asseco Poland. We have been developing both organically and through acquisitions. In addition, we have been constantly strengthening our sector competence and looking for innovative solutions - in 2019 alone we allocated nearly PLN 900 million for R&D. Thanks to this we create modern products that gain recognition of customers from around the world - he added.

Asseco has also initiated the “Asseco for Poland” project, under which it has undertaken a number of activities both in the country and abroad. Among other things, the company supports domestic entrepreneurs, integrates Poles abroad, and promotes Polish programmers.

For more about the project, see: dlapolski.asseco.com

The company also cooperates with the Ministry of Digitization on the implementation of regulations enabling the introduction of video-verification as a remote identity authentication method (e-signature).

Asseco has also developed a mini-application called "Requests", by means of which it has provided cooperative banks with support in handling applications for assistance under the PFR Financial Shield program.

The first three months of 2020 were successful for the Group, even though the second half of March brought difficult conditions related to the coronavirus pandemic. The fact that we recorded an increase in revenues in all segments of our operations is, among other things, the consequence of good diversification of our business, which we have been consistently developing for years on a geographical, sector and product level. A rapid response to the situation related to COVID-19 allowed us to ensure the continuity of operations as well as the implementation of maintenance contracts and new projects contracted. It is difficult to predict the final impact of COVID-19 on our business in the coming quarters. On the one hand, we see an economic slowdown in some countries and sectors, but on the other hand, the importance of digitization is growing in all areas in which the Group operates. The examples include IT tools enabling remote operation and customer service, as well as cloud and cyber security solutions. Looking at our backlog for 2020, which at the level of revenues amounts to PLN 8.6 billion and is by 20% higher than the order book presented in May 2019, I hope we will cope well with this unprecedented time, said Rafał Kozłowski, Vice President of the Management Board of Asseco Poland.

The Asseco Group's revenues are diversified by sectors and in Q1 2020 they were distributed among the following segments: general business (40%), banking and finance (36%), and public institutions (24%). Asseco is also geographically diversified and presents its results by three segments. The Formula Systems segment generated 64% of consolidated revenues, while Asseco International - 26% and Asseco Poland - 10%.

The General Meeting of Shareholders of Asseco Poland, held on May 27, 2020, passed a resolution to pay out a dividend of PLN 250 million or PLN 3.01 per share. This means a dividend yield of 4.3% (as at May 28, 2020).

We have been sharing profits with our shareholders for years. Since 2007, we have paid out PLN 2.2 billion in dividends, and taking into account the payment from the 2019 profit, which will be made on June 17, 2020, that amount will exceed PLN 2.4 billion, commented Rafał Kozłowski.

*The non-IFRS figures include the 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.

Asseco, which employs nearly 27,000 people, was the only IT company to be among the top ten largest employers. The company also achieved the highest revenues and profits in its sector.

Among the companies listed on the Warsaw Stock Exchange (WSE), which were included in the "List of 500", Asseco ranked 17th. Investors believe in the company's development, which is demonstrated by its rising stock price.

The year 2019 was very successful for Asseco - for the first time we generated PLN 10.7 billion in consolidated revenues and PLN 976 million in operating profit. In line with our strategy, we focused on the production of proprietary software and provision of related services. Such revenues accounted for 81% of our sales, said Adam Góral, President of the Management Board of Asseco Poland.

Asseco is a leading European software producer. For almost 30 years it has been developing technologically advanced solutions for companies from key sectors of the economy. The company is present in over 55 countries around the world and employs nearly 27,000 people.

"We have been working with the Enel Group for many years, and now we will expand our cooperation to new countries such as Chile, Panama and Colombia. We are delivering the Kommodo platform in SaaS model (Software as a Service), which allows us to achieve higher operational efficiency for our customers while reducing operating costs," said Victor Ruiz, President of the Management Board of Tecsisa.

Asseco is strengthening its position in the power industry also in Eastern Europe. After winning a tender, Asseco Lithuania has signed an agreement for the maintenance and development of the billing system operated by state-controlled energy group lgnitis (Lietuvos Energija). In addition, the company has joined an ongoing tender for building a new billing system. The Lithuanian company is present in 4 countries: Lithuania, Latvia, Estonia and Poland.

"The Asseco Group has been consistently expanding in the utilities sector on international markets and strengthening its expertise in the area of CIS systems that improve sales, billing and customer service. We focus on functional solutions that offer flexible scalability and respond to new business, operational and technical requirements. This is one of the main challenges currently faced by power and utilities companies. The AUMS family of products developed by Asseco, combined with native cloud solutions delivered in the SaaS model, meets the broad needs of today's power industry" - said Paweł Piwowar, Vice President of the Management Board, Asseco Poland.

The Asseco Group manages over forty million electricity and gas consumption points worldwide. In Poland alone, over 60% of energy bills are generated based on AUMS, the family of proprietary solutions for the utilities sector.

IT solutions have never been more important than now. Business is increasingly dependent on it, which has been well demonstrated by the need to switch to remote working. The demand for such solutions, for modification of IT systems, will continue. But now the most important thing for companies is to survive - it is natural that the projects concerning innovations, cutting-edge ideas have come to the background - said Adam Góral. The strength of Asseco is its strong position as a supplier of software for the largest companies and the public sector - he added.

The list is based on the evaluations of company CEOs made by 4,000 investors, the readers of the Parkiet daily.

I would like to thank the Award Chapter for recognizing these 30 years of hard work which enabled us to become the real ambassadors of Polish IT around the world. I would like to thank my team, we operate in more than 50 countries and every day each of these 27,000 people works to make our brand recognizable - said Adam Góral. I would like to thank my business partners, those who were with me in the past and those who are with me today. I would like to thank the Polish capital market, because without the Polish market one Pole from Rzeszów would not be able to fulfill such a beautiful vision - he added.

Today Asseco is not only the largest IT company in Poland and the region of Central and Eastern Europe, but also a global player, present in over 55 countries. It has been developing both organically and through acquisitions, which have been taking place already since 2004. Some companies from the Group are listed on the Warsaw and Tel Aviv Stock Exchanges as well as NASDAQ.
Adam Góral has managed to create a stable company that has been generating value for its shareholders for years. In 2019 the Asseco Group's sales revenues exceeded PLN 10 billion, 89% of which were generated by international operations. In turn, operating profit for this period amounted to PLN 976 million.

The Polish Business Council’s Award has been granted since 2012. This prestigious award honours people who, thanks to their perseverance, courage and entrepreneurship, can significantly affect the economic and social reality surrounding them.

"The possibility for customers of cooperative banks to apply for the anti-crisis support through their online banking has been made available in record time. I am glad that modern technologies can once again support our clients in such a difficult period and help to minimize the effects of the pandemic," said Marcin Chrobot, Sales Department Director in the Cooperative Banks Division at Asseco Poland.

Asseco has been developing software for cooperative banks for nearly 30 years. It has been offering both comprehensive IT solutions and specialized systems that improve the work of banks. Asseco's systems are implemented in the on-premise model (with the use of local installations) as well as in the cloud. At present, cooperative banks have over 200 installations of Asseco systems in the SaaS model. The development of software for banks is one of the key areas of Asseco Poland's business and the Company offers solutions responding to the latest trends in global banking.

We had reacted to the pandemic slightly earlier than it was officially announced. We started getting signals that the situation could be difficult and a week earlier we appointed a crisis team. We were very lucky, because it helped us to deal better with the new situation and quickly switch to remote working - said Adam Góral, President of Asseco Poland. As far as salaries are concerned, we, as the management board, have resigned from paying out advance payments for bonuses. However, we are not planning cuts in the whole group. We are paying out salaries according to earlier arrangements. We know that people are in different situations and we take this into account - he added.

While working on the ranking, the editorial team contacted over a hundred of the largest companies listed on the Warsaw Stock Exchange and analyzed, among others, whether group layoffs have taken place or were planned, or whether a reduction in salaries was being taken into account. The editors also checked what actions companies were taking in the fight against the pandemic.

Sustainable development and a responsible strategy are the reasons why Asseco Poland is included in the WIG30 index, which gathers the 30 largest and most liquid companies of the Warsaw Stock Exchange Main Market. We are also the largest company of the sector-wide WIG-Informatyka index in terms of capitalization. Furthermore, our shares are listed in the developed markets indices - FTSE Russell, said Artur Wiza, Vice-President of the Management Board of Asseco Poland. The inclusion of Asseco Poland in CECE SOFT is a signal for us that investors recognize our potential and strong position among European companies of new technologies, he added.

There are currently 147 indices listed on the Vienna Stock Exchange, 108 of which reflect the national, regional and sectoral situation in Central, Eastern and South Eastern Europe.

"During the pandemic, it is essential to ensure the safety of patients and medical staff, while maintaining continuity of medical care. This has been made possible by remote contact between a doctor and a patient, which is why we have prepared Teleporada that can be used by doctors in hospitals and clinics," said Jan Butkiewicz, Deputy Director of the Sales Division in the Healthcare Division of Asseco Poland.

The launch of the service in a healthcare facility does not require a complicated implementation
and additional expenditures on IT infrastructure. In addition, patients do not have to install any software, they can just access a web browser on a phone or computer. They receive a unique link to a meeting via a text message or e-mail. Thanks to the cooperation between Asseco and the National Cloud Operator, the solution is available as a service in the National Cloud. This ensures the highest level of data security and allows the use of Teleporada from any place, without the need to leave home.

The AMMS package for hospitals additionally includes the following modules: e-Notifications and
e-Confirmations. During the pandemic, most medical facilities also struggle with telephone line overload. Many patients need to be notified of a change in the date or form of their visit. In addition, patients who want to confirm or cancel a previously scheduled consultation also call. Electronic communication and solutions based on automation of information transfer processes come to help in such situations. E-Notifications allow for mass sending of information to patients by text messages or e-mails. They also offer the functionality to send a patient a PIN code for e-Prescription. In turn, E-Confirmations allow a patient to easily confirm or cancel a visit by e-mail or text message, freeing overloaded telephone lines of medical facilities and reducing the number of uncancelled visits.
In the case of the mMedica system used in clinics and doctor’s offices, the package includes the following additional modules: SMS, eArchive, Mobile Applications Integration and eNotifications. The SMS module supports the process of sending SMS messages containing e.g. information about booked visits or codes for ePrescriptions. eArchive facilitates comprehensive collection and effective protection of medical records. The Mobile Applications Integration module allows for two-way exchange of documents between a patient and a doctor with the use of the Mobile Medical Information application. eNotification offers automated communication with a patient through the Medical Information mobile application, which is an alternative to SMS.

The "Patient, #stayathome" packages are available for AMMS and mMedica users. The free license is available until July 31, 2020.

"Taking into account the importance of the efficient operation of a cooperative bank in a local environment and in order to support bank employees who are ready to provide service to customers at this difficult time, often putting their own health at risk, we have decided to provide cooperative banks with a solution which will allow bank customers to deal with many issues that have so far required a personal visit to a bank in a simple and intuitive way. We will expand their catalog so that customer service can move to the digital world as much as possible. We are convinced that this will make it easier for banks and their customers to operate in the present situation, which is difficult for all of us - said Andrzej Nowakowski, Cooperative Banks Division Director at Asseco Poland.

In order to enable banks to take advantage of this modern service, based on the Internet Service Centre, they have been provided with the Asseco ABP system, owing to which a bank can process requests submitted by a client. Each time a submitted request is authorized via a measure assigned to the Internet banking user, which meets the requirements of a strong authorization, pursuant to the PSD2 Directive.

The development of the software and implementation of the update of the registry system at the National Health Fund (NFZ), supplementing eWUŚ with new functionalities, have been completed by us in record time and I hope they will contribute to the improvement of safety of doctors and patients in medical facilities - said Damian Bankiewicz, Director of the Dedicated Projects Department at the Healthcare Division of Asseco Poland.

The database is regularly updated. According to the Ministry of Health, over 200,000 people are currently under quarantine.

The solution will be embedded in the ICT system of the Ministry of Justice.

The production of the IT system for the National Debt Register is another important project executed by Asseco for the Ministry of Justice. An efficient restructuring process will be crucial for many companies which, due to the current unprecedented situation, will find themselves in crisis," said Sławomir Szmytkowski, Vice President of the Management Board of Asseco Poland.

The IT system of the National Debt Register will be implemented by November 2020. The value of the contract, including a 3-year maintenance service period, amounts to PLN 25.2 million.

Adam Góral has been managing the company for many, many years. Clear strategy, global expansion, investments and acquisitions. In addition, the company's good financial results, always solid dividends and very good investor relations - said Andrzej Stec, Editor-in-Chief of Gazeta Parkiet, justifying the award.

In 2019, for the first time ever, the Asseco Group’s revenues exceeded PLN 10 billion. Operating profit amounted to PLN 976 million, which is by 22.5% more than in 2018. The pillar of Asseco’s business continues to be the sale of proprietary IT products and services, which surpassed PLN 8.6 billion last year.

For more information on the financial results of Asseco, please visit: asseco.pl

However, there is no doubt that this year will be very demanding on many levels. That is why Asseco is joining in to help in this difficult situation, which is the coronavirus epidemic. We focus on the areas where we have experience and competence:

1.    We believe that it is very important to act responsibly and ensure the continuity of the operations of our clients – the companies and institutions important for the functioning of the state, the financial system or the health sector. Therefore, despite the prevailing epidemiological situation, our employees are fully available on duty to ensure the smooth operation of our clients' systems.

2.    We provide additional activities for hospitals free of charge, aimed at adapting their systems to the needs of patients at risk of the pandemic. We are also in constant contact with the Ministry of Health and the National Health Fund (NFZ), carrying out ad hoc actions which support the fight against coronavirus.

3.    We support universities - we have provided a platform for educational activities free of charge. "Partnership for universities" – it is the offer of Asseco, the Home Cloud Operator and Google, aimed at providing free infrastructure and tools for conducting remote classes at universities for 6 months.

4.    We are also working with the Ministry of Digitization on speeding up the regulations enabling the introduction of video-verification, which is necessary, for example, for the remote activation of the electronic signature. Such a solution would enable many people, forced to quarantine today, to continue to function and sign documents remotely.

In addition, the Management Board of Asseco has decided to allocate PLN 1 million to support the health sector. We also operate locally - the Podkarpacki Business Club (PKB), of which Asseco is one of the founders, has decided to provide financial support to the medical sector in the Podkarpackie region in order to counteract the effects of the pandemic. PKB will allocate PLN 300,000 for this purpose, while Asseco will provide additional PLN 100,000 - said Adam Góral.

The year 2019 was very successful for Asseco - for the first time we generated PLN 10.7 billion in consolidated revenues and PLN 976 million in operating profit. In line with our strategy, we focused on the production of proprietary software and provision of related services. Such revenues accounted for 81% of our sales. Foreign markets represented by the Asseco International and Formula Systems segments accounted for 89% of our revenues. This confirms that the consistently pursued vision of Asseco's development, focused on the production of proprietary software and acquisitions of companies engaged in it, is the right direction to build the strong Asseco Group and a good way to diversify our operations by sectors and geography, said Adam Góral, President of the Management Board of Asseco Poland.

The Formula Systems segment accounts for the largest portion of revenues generated by Asseco. In 2019 the Formula Group companies significantly improved their sales and profitability as a result of conducted acquisitions as well as consistent development on international markets and taking advantage of the economies of scale.

The Asseco International segment recorded an increase in sales revenues and operating profit in all of its major regions of operations, namely Central Europe, South Eastern Europe and Western Europe. The growth of Asseco Central Europe was driven by new contracts concluded with public and financial institutions in the Czech Republic and Slovakia. Following the strategy of economic and organizational independence of each of the operating segments, the Asseco South Eastern Europe Group achieved very good results in the segments of banking solutions, dedicated solutions and payments (Payten). The companies specialized in ERP solutions bought by Asseco Enterprise Solutions also improved their performance year on year.

The Asseco Poland segment signed new long-term agreements, worth several hundred million zlotys, with various public institutions (including the National Health Fund (NFZ), the Social Insurance Institution (ZUS), the Agricultural Social Insurance Fund (KRUS) and the Agency for Restructuring and Modernisation of Agriculture (ARiMR)). The Company continued to strengthen its position on the healthcare market by actively participating in the process of digitization of the Polish healthcare sector. In the area of banking and finance, the client portfolio was expanded and long-term service agreements were executed, ensuring a stable source of revenues from this sector.

At present, Asseco's consolidated order backlog for 2020 is PLN 7.6 billion in revenues, up by 22% versus the backlog presented in March 2019.

When it comes to Asseco's development prospects in 2020, I am aware that due to the SARS-CoV-2 virus pandemic, the whole world is now in a situation whose impact on the economy is difficult to estimate. We have taken all necessary steps to provide our employees with safe working conditions and our customers with full readiness to serve them and meet their obligations. We are also developing various scenarios of events to prepare Asseco for actions during and after the pandemic. In 2020 we will focus on further improvement of efficiency and simplification of the Group structure, continued development of competence areas and international expansion. There is no doubt, however, that this year will be very demanding on many levels, added President Góral.

Asseco Poland has been consistently building value for its shareholders and sharing profit with them. This year the Company's Management Board also recommended the payment of a dividend.

The Group's very good financial results in 2019 allowed us to recommend the payment of a dividend and to allocate PLN 250 million for this purpose this year. Asseco has been sharing its profits with shareholders for years and so far it has allocated PLN 2.2 billion for dividend payments, said Adam Góral.

The dividend amount recommended by the Management Board of Asseco Poland is equivalent to PLN 3.01 per share and translates into a dividend yield of 5.7% (as at March 23, 2020).

2. Merger Plan

3. Financial statements and reports of management boards on the activities of the merging companies for the last three financial years, together with the auditor's opinion and report:

1. Annual reports of Asseco Poland S.A. for 2019

2. Annual reports of Asseco Poland S.A. for 2018

3. Annual reports of Asseco Poland S.A. for 2017

4. Financial Statement of SKG S.A. for 2018

5. Statement on operations of SKG S.A.in 2018

6. Independent Auditors' Opinion on Financial Statement for 2018

7. Financial Statement of SKG S.A. for 2017

8. Statement on operations of SKG S.A. for 2017

9. Independent Auditors' Opinion on Financial Statement for 2017

10.  Financial Statement of SKG S.A. for 2016

11.  Statement on operations of SKG S.A.in 2016

12.  Independent Auditors' Opinion on Financial Statement for 2016

4. I notification about the intended merger

5. II notification about the intended merger 

We would like to emphasize that at present we do not see any real threat to the continuity of the Company's operations. We have taken all necessary steps to ensure safe working conditions for our employees and full readiness to serve our clients and meet their obligations.

As part of our preventive measures, we have taken the following steps, among others:

•    All events organized by Asseco (conferences, presentations, company meetings, etc.) have been moved to another date.

•    We have introduced a ban on our employees from participating in mass events or trainings organized by other companies.

•    We have limited the number of business trips with the use of public transport to the necessary minimum. At the same time, we recommend that as many meetings as possible be held in the form of tele- or videoconferences.

•    We have introduced a ban on business trips to the countries or regions listed on the GIS website, as well as on receiving delegations from these places. The list is monitored on an ongoing basis.

•    We discourage employees from making private journeys to countries or regions at risk (listed on the GIS website). In the event that an employee returns from one of these places, he/she is required to undergo quarantine for 14 days and will work from home if possible.

•    If an employee comes into contact with an infected or quarantined person, he/she is obliged to undergo quarantine for 14 days and will work from home if possible.

With best regards,

Management Board of Asseco Poland

The cooperation with Cyfrowy Polsat is a huge development opportunity for Asseco, especially in the telecommunications and media sector. We are aware that having such a partner not only strengthens our market position, but also gives us a chance to gain unique references, said Radosław Semkło. In turn, our knowledge and experience reinforce the competence of Cyfrowy Polsat in the IT area, which has become an integral part of the telecommunications industry, he added.

The TIME Economic Forum Award is a distinction awarded to companies and individuals contributing to the development of the ICT market with their attitude, work and commitment. They promote the implementation of modern technologies, contribute to the improvement of standards, quality of offered products and services and support the innovative transformation of the digital industry.

The introduced changes mean a new area of activity for brokerage offices. With a view to adapt them to the new responsibilities, Asseco Poland has developed PROMAK RA - an IT system that enables keeping the register of shareholders. It provides users with an electronic form of all brokerage activities related to the register of shareholders (register of agreements, issues, transfers, blocks of shares, register certificates) as well as handling of rights attached to shares, including dividends. By the end of June 2020, companies must select the entity with which they will conclude an agreement to maintain the e-register.

It is impossible to keep an electronic register without a specially developed IT system. Asseco has been cooperating with the capital market for many years; therefore, with the new responsibilities of brokerage houses in mind, we have created PROMAK RA, which will allow them to offer these services at the highest level of technology and security, said Artur Trunowicz, Director of the Capital Markets Division, Asseco Poland.

PROMAK RA can be implemented both in the system of the existing infrastructure of the financial institution, as well as launched in the cloud-based SaaS formula. This allows for an easy and quick start-up of the solution without the need to engage internal IT resources. Asseco's system is integrated with the Blockchain Platform for the Capital Market developed by KDPW.

The idea of the Blockchain Platform for Capital Market is to provide all its participants with the infrastructure to co-create a uniform, safe and trusted ecosystem of cooperation. It is an open solution, which facilitates the cooperation in the area of innovative post-trading services, said Sławomir Panasiuk, Vice-President of the Management Board of KDPW.

The aim of KDPW in creating the concept of the Platform was to minimize the costs associated with the creation of services in a distributed model. This allows for the creation of specific solutions without the need to incur duplicate expenses on the creation of the network and development of its maintenance processes. The Platform also lowers the threshold of entry into the area of blockchain technology and allows to widely use the potential of the ecosystem created by capital market institutions. The platform was launched in mid-2019. The first service available on the platform is eVoting, which digitizes the voting process at general meetings of companies.

Asseco for the capital market
Asseco Poland is a provider of the PROMAK family of solutions dedicated to the financial sector, which effectively support the work of brokerage houses, banks, depositors and investors, both individual and institutional. The company is also the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the 6th largest European software producer. It leads international Asseco Group, which operates in over 50 countries and employs over 24,000 people.

KDPW Group
The National Depository for Securities (Krajowy Depozyt Papierów Wartościowych - KDPW) forms a capital group offering highly specialized services for the financial sector, related to the deposit of dematerialized financial instruments, clearing and settlement of transactions, performance of services to holders of securities, data collection and storage. The group consists of KDPW, which acts as the central securities depository (CSD), and the KDPW_CCP clearing house.

Currently, the largest R&D project is the construction of the Asseco Innovation Hub in Rzeszów. This emerging, modern R&D centre will be a place where teams conducting research and development in such innovative fields as artificial intelligence, telemedicine, electromobility, the Internet of Things or drones' control systems will be gathered. Their findings will be used to develop proprietary technologies and IT products for the power industry, telecommunications and media, healthcare, banking, agriculture, enterprises, public administration - said Grzegorz Warzocha, Director of EU Projects Office, Asseco Poland. Projects related to broadly defined IT security will also be developed there. The whole value of the project is over PLN 65 million net (gross is over PLN 80 million), of which over PLN 26 million will be provided by the Ministry of Investment and Development from the Intelligent Development Operational Programme. The implementation of this investment will translate into increased innovation and competitiveness of the whole region - he added.

According to the Rzeczpospolita daily, the innovativeness of Polish companies has been constantly growing. The Central Statistical Office's (GUS) research showed that in 2016-2018 over 26% of manufacturing companies and 21% of service providers carried out research and development activities.

It is estimated that currently the operating costs of banks in the Trade Finance area amount to USD 12-16 million. Digitization of processes may reduce them to USD 8-13 million in 3-4 years, said Marta Mróz-Sipiora, Product Manager, Asseco Poland. For this cost reduction to be possible, banks will need modern solutions, such as the Asseco Enterprise Banking Platform - Digi Trade, which allows, among others, for secure and fast electronic transfers of orders, interactive communication with bank employees and has individual document templates, she added.

The winners of "Trade Finance and Supply Chain Finance Awards 2020" are selected from among banks and service providers from 94 countries.

It can be said that Asseco is a Polish-Slovakian project that we continue to develop thanks to, among other things, our long-standing cooperation with Josef Klein. This year marks the 15th anniversary of Asseco's entry into international markets. For me, this is still only the beginning, and ahead of us there are still many interesting acquisition projects and opportunities to create innovative products and services, said Adam Góral.

The Management Board of Cyfrowy Polsat has made us a proposal to begin talks on closer cooperation in the area of development and operation of IT systems by Asseco Poland for the Group's individual companies. Asseco Poland has both the products and the substantial potential to lead the Cyfrowy Polsat Group to the best IT solutions, so we were very satisfied with this proposal.

Significantly, Cyfrowy Polsat decided to support the proposal to strengthen the cooperationbetween our companies with an offer of capital engagement in Asseco Poland. The proposal of the Management Board of the company controlled by Zygmunt Solorz, one of the most outstanding Polish entrepreneurs, is undoubtedly an expression of appreciation of our achievements. I have no doubt that the closer cooperationmight help increase the competitiveness of both Asseco Poland and the Cyfrowy Polsat Group.

The chance to strengthen the cooperation, that my team receives, means a unique opportunity. However, it will largely depend on our current shareholders whether these plans will be implemented. Therefore, I am asking our shareholders to respond positively to the offer of the purchase of Asseco Poland's shares by Cyfrowy Polsat.

I believe that the emergence of Cyfrowy Polsat as a shareholder of Asseco Poland might contribute to further growth of Asseco Poland's value.

Best regards,
Adam Góral

It is amazing that Poles, despite the fact that they suffered a lot in the previous system and are still unappreciated, are highly motivated to show the world that it is not the place where they were born, but passion and faith that makes it possible to achieve increasingly more successes - said Adam Góral.

The "Polish Company - International Champion" competition promotes the activity of Polish companies on world markets. Thanks to foreign investments and export activity, domestic companies are transformed into global entities, effectively compete on foreign markets and build Poland's brand.

The Ministry of Entrepreneurship and Technology holds honorary patronage over the plebiscite.

We are satisfied with our results and the dynamic development of Asseco on international markets. In particular, we are pleased with the double-digit increases in revenues and operating profit. We see a positive impact of the implementation of our strategy, which is based on international expansion and diversification of our business. Asseco International achieved a 13% increase in sales to PLN 2.0 billion and improved its profitability. The Formula Systems Group also achieved a higher margin with a double-digit increase in revenues. Acquisitions carried out during the reported quarters give us interesting prospects for development on new markets as well as for expanding our offer of innovative IT products. We generated PLN 893.8 million in revenues in the Asseco Poland  segment. We are pleased with the signing of new, long-term contracts with public sector institutions and enterprises with a total value of several hundred million PLN. We also observed an increase in sales in the health sector, thanks to the implementation of new, important projects related to the digitization of this area. In addition, we achieved very good results in the banking sector, despite the high base of revenues generated in the same period in the previous year, said Rafał Kozłowski, Vice President of the Management Board of Asseco Poland.

The revenues of the Asseco Group are diversified by sectors, and in the first three quarters of 2019 they were the following: 39% (PLN 3.0 billion) generated by banking and finance, 38% (PLN 2.9 billion) by general business and 23% (PLN 1.8 billion) by public administration. Asseco is also geographically diversified and presents its results broken down by three segments: Formula Systems generated 62% of the Group's consolidated sales revenues (PLN 4.8 billion), Asseco International - 26% (PLN 2.0 billion), and Asseco Poland - 12% (PLN 0.9 billion).

Currently, the Group's order backlog for 2019 at the revenue level amounts to PLN 10.1 billion and is by 14% higher than the backlog presented in November 2018.

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

We are very happy to have been awarded the title of "Leader of Cooperation". It is a confirmation that we are a trusted and proven partner of the Social Insurance Institution, with which we have been cooperating for over 20 years. The ZUS Comprehensive IT System (KSI ZUS) created within the framework of this cooperation serves over 25 million Poles. It should be emphasized that ZUS has never failed its customers, who always receive their pensions on time. Thanks to KSI, ZUS is also the leader of the state administration in launching electronic services such as eContributions, eFiles or eZLA and in the integration within the social security system at the European level (EESSI). These undoubted successes would not have been possible without the exceptionally good cooperation between ZUS and Asseco, said Sławomir Szmytkowski.

During the ceremony it was emphasized that ZUS had clearly defined plans for the future. It focuses on the further development of modern e-administration to make it easier for citizens to settle their matters and to fully automate the granting and payment of benefits. I hope that our cooperation will contribute to the implementation of these plans, he added.

The banking sector is undoubtedly the leader of all sectors. We set trends and we should be proud of that, said Asseco's President.

Adam Góral also pointed out that the participation of the Minister of Digitization in the Asseco Banking Forum proved that the banking sector had been recognized by the state administration as a leader in the field of new technologies.

The panel discussion was preceded by the presentation "Personal Identity and Digital Identity" by Marian Giersz, Lawyer at PwCLegal, who talked about when we began to build digital identity and how it differed from personal identity. He also asked important questions about whether citizens had agreed that banks could provide their identity to the state and whether banks wanted to provide such services when they were free of charge.

Sweden has approached this issue in a market-based manner. It is a federal model, where private entities can provide identity, they can join the system, of course after meeting the relevant requirements and regulations. It was very successful, because 9.5 million citizens generate over 300 million transactions a year, said Marian Giersz. In Poland we have the beginnings of the Swedish model, because we have private centers that provide electronic signatures, such as Asseco or banks that allow us to open an ePuap account, he added.

In turn, according to Marek Zagórski, the Minister of Digitization, who participated in the debate "Is a bank really sure that I am who I am?", the Swedish model was already in place.

We have built what I call the digital identity ecosystem. This ecosystem consists of several elements, including, apart from ID with an electronic layer, a national node, which connects not only administrative portals, but also the first electronic identification scheme issued by banks, said the minister. The trusted profile alone is currently used by 4.2 million citizens. Adding to this means of identification based on identity and bank credentials will result in tens of millions of operations per day, but most of all we will have several million users with means of identification, he added.

Electronic identity is the element that will materialize anyway. The point is to do this in a coordinated and absolutely safe way, and I think that every bank can automatically ensure it. The essence of our functioning is to confirm the identity of the client, continued Brunon Bartkiewicz, President of the Management Board of ING Bank Śląski. At the same time, he stated that banks did not have to be the only providers of identity.

In turn, Zbigniew Pomianek, Vice President of the Management Board of Asseco Poland, pointed out that banks did not have much competition in this respect.

Banks have a natural advantage in terms of how they are audited and regulated. Generally speaking, the certainty of verification of data held by a bank is much greater than in other institutions. I think this gives banks a very big advantage when it comes to the credibility of identity, said the member of the Management Board of Asseco. However, he added that there were also certain risks.

The threat is unknown customer behavior or clients' actions that we can predict, but cannot do much about them. The banks are at a very high level in terms of safeguards, both technical and procedural, which are to ensure that the mistake of an individual person does not lead to the opening up of a bank access in a dangerous way. The most difficult part to deliver are the solutions that are on the user side. Firstly, there is the problem of educating a client, and secondly, where the responsibility for his behaviour lies, Zbigniew Pomianek summed up.

One cannot eliminate all the risks. The cost of providing such a solution would be astronomical. This technology and learning algorithms, which, by observing the behavior of customers, anticipate certain events, i.e. are a must. However, we will not escape from the issue of customer education, said Mirosław Skiba, President of the Management Board of SGB-Bank.

Responding to customer needs, we want processes to be simple, fast and ergonomic. For these processes to be safe, customer experience will be at a lower level, said Jacek Obłękowski, Chairman of the Supervisory Board of Horum. In several countries we have surveyed customer preferences. We asked clients which physiological elements of the biometric process would be the most appropriate. Two features were pointed to most often - face recognition and fingerprint, he added.

The results of this research are consistent with the data presented by Tomasz Lesio, Senior Product Portfolio Manager at Asseco Poland, who, during his speech, talked about how effective digital identity verification should have been carried out and what solutions were offered in this area by the market of new technologies.

From the perspective of using biometric methods, it can be observed that the fingerprint is the most frequently used (57%) method, followed by facial recognition (14%), said Asseco's expert. He also presented the types of biometry, within which one could distinguish physiological factors unique to each human being: face, fingerprints, blood vessel system, hands, eyes, ears, DNA and those related to behavior: voice intonation, handwritten signature, type of walk.

Tomasz Leś ended his presentation with a question whether we were able to cope with the recognition of a person without artificial intelligence? It served as a prelude to the debate "Should the AI replace a man in confirming his identity?"

Artificial intelligence can somehow replace humans, but under certain conditions, said Krzysztof Polcyn, Innovation Director, EFL Group. It all depends on how we define artificial intelligence. If we assume a very broad definition, that this is any algorithm that converts something into a result, I can confidently say that in all Polish banks such basic algorithms work and that they have artificial intelligence. And maybe it has not replaced man yet, but it certainly supports him, he explained.

Artificial intelligence will not replace man, because he has to decide about similarity parameters, about which elements and at what level should be used, added Tomasz Leś, Senior Product Portfolio Manager, Asseco Poland. On the other hand, it would be difficult for a man to act alone, especially when it comes to the accuracy of verifications. Artificial intelligence will certainly strongly support this process, while man, even if only for legal reasons, will certainly not be eliminated from it, he added.

What is simple and quick can be done without human intervention. I think that in a few years' time in the banking sector, artificial intelligence will be used on a massive scale, but in very simple processes, for example as a call center support. In most banks it has been already in use, said Robert Tórz, Director of the Department of Individual Customer and Mobile Banking, SGB-Bank. The business logic of banks now focuses primarily on customer service. All the new technologies, system automation, robotization - all this is aimed primarily at the frontend, i.e. easy customer service, he added.

Tomasz Chmielewski, Chief Expert of Digital Ecosystem, ING Bank Śląski S.A. answered the question asked by Tomasz Bitner, Editor-in-Chief of Computerworld, who conducted the debate, whether banks were not afraid that their customers would have a feeling of a lower standard of services.

We are afraid of poor customer service, regardless of whether an employee or a bot is responsible for it, said the representative of Digital Ecosystem, ING Bank Śląski S.A. I assume that a customer primarily wants to be served well, the tool is of secondary importance. I believe that if these mechanisms work well, they will not reduce quality. It is true that there are studies that show that customers do not particularly like to use automatic machines, but most often because these machines are at a low level, while a well-functioning machine should serve the customer efficiently. We already have research that shows that there are certain areas where a customer willingly uses them, e.g. in debt collection, he added.

In the next part of the conference, Joan ManelCastells, Sales Director, Mitek Systems, explained what  onboarding of a customer in a bank was and what he paid attention to during this process.

27% of customers resign from onboarding if they think it is not safe enough, and 60% if it lasts too long, said Joan Manel Castells. On the other hand, identity theft in 2018 cost half a billion euros in the European Union alone, he added.

At the end of this panel Wojciech Nowak, Director of the Production Department, Asseco Poland presented the process of onboarding a bank customer with the use of the Asseco system.

In turn, experts from Asseco and Santander Leasing talked about how to implement the paperless process and whether it was safe.

How much paper did we use to produce contracts for 300-billion-portfolio?, wondered Mariusz Włodarczyk, Managing Director of the legal area, after-sales service and insurance, Santander Leasing. We must all remember that the activities we perform on a daily basis, the contracts we sign require paper only because sometimes we have unreflectively written that the contract requires a written form for its validity, he added.
We broadly look at issues related to banking and leasing processes. We have successfully introduced signatures at the Santander bank itself, including those for signing specific documents or even those that are important from the point of view of identity, said Artur Miękina, Director of the Security and Trust Services Division at Asseco Data Systems. We often get, for example by e-mail, some statements from different institutions and we do not know if they are really from that institution, because these pdf files are often unsecured. We must therefore take into account that identity is not only a physical identity, it is also a legal identity and there are also certain legal consequences behind this identity, he added.

At the end of the forum, the participants saw how digital identity could be stolen and how it could be used. Marcin Maj, an expert in cyber security from the service Niebezpiecznik.pl, spoke on this subject.He also provided data on the banking sector.

We have "good news" from the Polish Bank Association: in 2019, there were "only" over 7,800 cases of using another person's document, and the total number of thwarted attempts to defraud loans amounted to "only" 2,239, said Marcin Maj.

The beneficiaries will gain access to e-Registration, which will significantly save their time and improve the work of the hospital. The patients will have access to their own account, as well as to catalogued, up-to-date and confirmed information about the scope of medical services. They will also be able to book appointments on their own.

In turn, thanks to the launch of the Medical Information Portal, the medical personnel will gain access to applications such as e-Documentation, e-Interview or e-Consent, which will significantly improve the effectiveness of the hospital employees' operational activities.

The implementation of the e-Contractor module will improve, among others, the handling of medical examination referrals in other units, the management of bookings and will guarantee online access to the results of the examination. Moreover, the Laboratory Information System is currently integrated with other e-Services and will support external contractors in the scope of archiving, verifying and distributing results.

The project, which we have implemented in the Voivodship Hospital Complex in Płock, will allow us to transfer many processes, including registration, medical interview, referrals for examination and medical documentation handling, to the electronic sphere, which will significantly shorten the time of their implementation. In my opinion, the long-term result will be the strengthening of the hospital's potential and its competitiveness in relation to other institutions, as well as the improvement of the quality and availability of medical services, said Jan Butkiewicz, Deputy Director of the Healthcare Division, Asseco Poland.

The implementation was carried out under two projects: "E-health for Mazowsze" and "Development of IT systems in the Voivodship Hospital Complex in Płock E-health 2.0".

The success of Asseco is an example of how a stock exchange can support the implementation of a company's development vision and how to effectively conquer the world with the help of a capital market. Functioning as a public company translates positively not only into the development of a company itself, but also has a positive impact on the standards of its operation. Before Asseco debuted on the Warsaw Stock Exchange in 2004, we had only been a mid-sized IT company in Poland. Today we are the sixth-largest software producer in Europe, employing over 25 thousand people in more than 50 countries. It has been possible thanks to a good strategy and intensive work of many people, but also thanks to the fact that a businessman like me had the opportunity to raise capital on the basis of the rules that had been in force for many years on our western competitors' markets. If the Polish capital market had not trusted us, Asseco Poland would not have existed. The stock exchange is conducive to visionaries and it is important that other Polish companies have such an opportunity and want to take advantage of it, said Adam Góral, President of the Management Board of Asseco Poland.

Over the years, Asseco has developed a strong position on the Warsaw Stock Exchange. The company is a part of the prestigious WIG30 index, which groups the largest and most liquid companies. Asseco Poland is also the largest company in the WIG-Informatyka sector index. Recently, the company has entered the newly created WIGtech index, which includes companies operating in the area of new technologies. Thanks to the consistent payment of high dividend, the company was qualified to the WIGdiv index. In 2018, Asseco was ranked among 37 Polish companies listed on the developed market indices of the global agency FTSE Russell.

According to the organizers of the ranking of companies paying dividends, there is a steady increase in the number of companies paying dividends. Such a situation is connected with the development of the domestic economy. Companies are also becoming stronger in terms of capital and can afford to pay out profits in the form of dividends.

I am glad that we will be able to implement this project, so important for the whole voivodeship. Informatization of the health care system is conducted primarily with patients in mind and I hope that soon they will feel positive effects of building e-health in the Opolskie region, said Jan Butkiewicz, Director of the Health Care Division at Asseco Poland. An example of an innovative solution that will be implemented is a virtual assistant, thanks to which patients will be able to quickly find a suitable unit and a doctor who will take care of their illness.

The whole investment will take place within the framework of the project "Popularization of the e-services provision within the cooperation network of medical units and educational institution in the Opolskie Voivodeship".

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For over 27 years it has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is a leader in the market of IT solutions for healthcare and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, blood donation and blood transfusion centers, health resorts, as well as about 10,000 clinics and doctor's offices.

At Asseco, we are constantly thinking about the future and are engaged in projects promoting the development of innovation and information technology. Therefore, we have created the Asseco for the Future program, under which we support talented teams participating in technology competitions in Poland and around the world. We are also pleased to be able to support Spice Gears, which specializes in robotics. We keep fingers crossed for our team, said Artur Wiza, Vice President of the Management Board of Asseco Poland.

On August 19, the Spice Gears group visited the Asseco office in Warsaw to present the team for the Olympics and show what the robots it constructs are capable of. The team will once again represent the country as Team Poland. The team for the FIRST Global Challenge includes: Dominika Mazur, Agnieszka Sych, Jan Gryta, Łukasz Nawrocki oraz Kamil Janik. It is worth mentioning that only one team from a given country is always invited to the competition.

Apart from the robot competition, it is important for the organizers of the event to pay attention to the challenges facing the world. This year it is the protection of the oceans.

This was another good quarter for Asseco. We are satisfied with our results and once again we report double-digit increases in revenues and operating profit. We are particularly pleased with the positive impact of our strategy, which is based on international expansion. Over PLN 3 billion in revenues and 18%-growth in the Formula Systems Group companies, as well as PLN 1.3 billion in sales and 10%-growth in Asseco International are the result of consistent diversification of our business. Recent acquisitions give us interesting prospects for growth on new markets and for expanding our offer of innovative IT products. We are also satisfied with our performance in Poland, especially in the banking sector. Despite a very successful 2018 year and a high base effect associated with it, in the past six months we again achieved excellent results and we also see good prospects in the public sector. Large tenders were resolved and we signed new, important agreements with public sector institutions and enterprises, including ARiMR (the Agency for Restructuring and Modernisation of Agriculture), KRUS (the Farmers' Social Security Fund), ZUS (the Social Insurance Institution) and PGNiG. We are also actively developing promising areas, such as cyber security or cloud solutions, said Rafał Kozłowski, Vice President of the Management Board, Asseco Poland.

The sales revenues of the Asseco Group are diversified by sectors. In the first half of 2019 the banking and finance segment accounted for 40% (PLN 2.0 billion) of total sales, the general business segment for 37% (PLN 1.8 billion) and the public administration segment for 23% (PLN 1.2 billion). Asseco is also geographically diversified and presents its results broken down by three segments: Formula Systems generated 61% of the Group's consolidated revenues (PLN 3 billion), Asseco International - 27% (PLN 1.3 billion), and Asseco Poland - 12% (PLN 0.6 billion).

At present, the Group's order backlog for 2019 at the level of revenues amounts to PLN 9.1 billion and is by 13% higher than in the case of the backlog presented in August 2018.

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

The Voivodeship Hospital in Toruń is one of the largest health care institutions in the Kujawsko-Pomorskie Voivodeship. Our priority is to provide patients with quick and convenient access to medical services. This is possible thanks to such applications as Informacje Medyczne developed by Asseco. The solution makes it possible for them to access the results of examinations and information cards of hospital treatment from a mobile phone. This significantly saves their time, and at the same time shortens queues, said Sylwia Sobczak, Director of the Voivodeship Hospital in Toruń.

This is the next stage of the digitization of the Voivodeship Hospital in Toruń, in which Asseco actively participates. Our flagship IT system, which supports both the medical and administrative parts - Asseco Medical Management Solutions - is already operating in the unit. We are pleased that once again we have been trusted and we can participate in the development of this facility so that it can offer its patients services at the highest level. The Informacje Medyczne application, which we have now launched, guarantees mobile access to medical records and their electronic exchange between units. This brings time saving for both users and employees of the medical unit, said Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

Infocomp has been cooperating with Asseco for many years. Together we participate in the process of digitization of medical facilities, both large hospitals and outpatient clinics. The Voivodeship Hospital in Toruń is an example of how to use the latest technologies to create a uniform IT system for a unit that serves its patients in five different locations in Toruń. We are pleased that thanks to our joint effort and many months of work, we can now provide patients with mobile access to their medical data. I think this is a good start and I hope that soon other medical centers in the Kujawsko-Pomorskie Voivodship will follow the example of the hospital in Toruń and implement the Asseco Informacje Medyczne application. Everyone will benefit from it, and most of all the patients themselves, said Michał Maksymowicz, President of the Management Board of Infocomp Sp. z o.o.

Asseco is currently piloting the Informacje Medyczne application in selected locations, including the St. Ludwig Children's Hospital in Kraków.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been developing technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader in the market of IT solutions for healthcare and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, blood donation and blood transfusion centres, health resorts, as well as over 14,000 medical clinics and surgeries. Asseco software was successfully tested during the Connectathon IHE marathon in the Hague in 2018. This is an official confirmation of the effective interaction of Asseco systems with other IT solutions and their compatibility with the IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

The Law on the National Cyber Security System came into force in 2018. It imposes new obligations on, among others, digital service providers, and therefore IT companies as well. Entities subject to the law, according to its provisions, should have effective mechanisms for securing their digital assets, be able to assess cyber security risks, and report information on serious incidents and their handling to one of the CSIRTs. Among the entities covered by the law are companies, providing cloud services. Asseco has an extensive portfolio of products that it offers in a SaaS model. They are capable of detecting and countering cyber threats in an effective manner. At SCS, we will talk more broadly about how to meet the regulator's stipulations in practice, as well as present our systems that help reaching this goal said Andrzej Dopierała.

The two-day Security Case Study 2019 conference will also feature Asseco's cybersecurity solutions, drones equipped with specialized software, as well as information on effective ways to prevent cyber incidents. Representatives from the Asseco Group - Asseco Poland, Asseco Data Systems, Asseco Business Solutions and ComCERT - will be present at the booth.

The Security Case Study Conference attracts hundreds of participants from the IT Security community each year. Attendees include directors of security departments, those responsible for administering IT networks and systems, heads of audit departments, information security experts, representatives of the uniformed services, as well as IT solution providers.

Join Asseco - come to the Security Case Study Conference.

Enter the discount code Asseco_SCS19_15 in the registration form and get a 15% discount.

For more information on the SCS 2019 conference, visit the event website: www.securitycasestudy.pl.

It is one of the largest projects of this type in the power sector in Central and Eastern Europe. Thanks to the implementation of the Central Billing System, the largest retail service provider in Grupa PGNiG will receive a solution to provide even more effective services to our current and future customers. We estimate that the new solution will benefit nearly 7 million gas and electricity consumers in Poland, said Maciej Woźniak, Vice-President of PGNiG SA for Commercial Affairs.

The system will allow us to effectively offer new products and related services. With access to up-to-date data, we will be able to reduce operational risks and simplify management processes. I am convinced that Asseco Poland will build for us the most innovative customer service system in this part of Europe, said Henryk Mucha, President of PGNiG Obrót Detaliczny.

The main part of the contract to be executed by Asseco Poland involves, among others, developing a new dedicated, redundant technical infrastructure (ensuring full business continuity management) and migrating all PGNiG Obrót Detaliczny's customers, including the history of settlements from 98 instances of databases within the framework of 4 different billing solutions currently in place, to one central system. During this time, the provision of services to PGNiG Obrót Detaliczny's customers will be uninterrupted. Under the signed contract, the supplier will also transfer all source codes to the system and will provide full maintenance service for a period of 5 years from the date of the completion of the system implementation.

The solution, fully scalable, will provide together with the CRM system comprehensive support for sales and customer service on the mass market. The processes will be fully centralized and unified, which will result in more efficient management of the country's largest database of gas contracts.

The contract we are going to execute for PGNiG Obrót Detaliczny is a complex project on a very large scale. As a result, the largest gas supplier in Poland will gain one of the most modern solutions on the market, fully adapted to the challenges of the digital economy. The system will make it possible for the company to create new innovative products for its customers, reduce operating costs and adapt quickly to changes. Asseco has a unique and long-standing experience in managing large scale system transformations, data migration and implementation of Billing & CIS systems. An example are the projects carried out for the largest power suppliers in Poland, said Paweł Piwowar, Vice President of the Management Board of Asseco Poland.

The Central Billing System will operate on the basis of the functionalities offered by Asseco Utility Management Solutions Billing & CIS. AUMS is a technologically advanced solution, allowing for mass and cyclical settlement of gas fuel, electricity, as well as other products and services.
The Central Billing System is the most important, but not the only IT project implemented by PGNiG Obrót Detaliczny as part of the company's operational strategy for 2017-2020. In 2018, the company launched the BOK mobile application, which is used by over 260,000 active clients. In June 2019 a project was completed which involved migrating clients from six former electronic Customer Service Offices (BOK) to a common database, which allowed to launch one, effectively managed eBOK for over million users. In turn, 832,000 customers are already using the EKO-invoice service. In addition, the company has introduced the possibility, unique on European scale, to conclude and transfer a gas contract in its entirety via the internet.

Asseco has developed a modern billing system for the Asseco Utility Management Solutions family - AUMS, which meets the highest requirements of its clients and is adapted to the current standards of corporate architecture design. With the addition of Tecsisa, the Group will expand its product portfolio with a native cloud solution, which will be developed together with the Spanish team. Ultimately, we want to create a system based on the best functionalities of AUMS and Kommodo. Following the acquisition, together with Tecsisa, we will manage over forty million electricity and gas consumption points worldwide, said Paweł Piwowar, Vice President of the Management Board, Asseco Poland.

Tecsisa has developed Kommodo - a cloud and Big Data platform, designed especially for power and public utility companies. In turn, Asseco offers AUMS and the experience of a leading provider of software for enterprises. It is present in over 50 countries and has a very strong position in the utilities segment. It is an ideal combination, which will result in the creation of an offer of solutions available in the cloud, targeted at power and gas enterprises all over the world. Thanks to the Software as a Service model, they will be able to achieve greater agility and lower operating costs, said Victor Ruiz, CEO of Tecsisa.

I think that together with Asseco we will redefine the future of software for the utilities sector. Kommodo is a cloud platform that embraces microservices, Big Data, reactive architectures and functional programming to create applications that scale and respond elastically to technical requirements. These are some of the major challenges that power companies and utilities face today. Now, we have the opportunity to leverage the experience of Asseco and its AUMS product family. For Tecsisa, joining forces with Asseco is a match made in heaven, said Juan José Vázquez, CTO of Tecsisa.

Asseco International has acquired a 51% stake in Tecsisa for EUR 4.95 million. The value of the transaction may increase up to EUR 7.96 million, depending on the results generated by the Spanish company in the following years.

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Asseco is the leader of IT solutions for the power sector in Poland. It also develops its activities on international markets, including Serbia, Nigeria and Ethiopia. The flagship solution of the company are the IT systems from the AUMS line, which support all processes related to the management of electricity. They are used by trading companies, energy distributors and customer service companies. Asseco offers products and services that bring measurable reduction of operating costs, streamline operations and increase the competitiveness of the power sector companies. It also implements projects involving the centralization and migration of large data volumes. In addition, nearly 60% of energy bills are generated on the basis of the company's proprietary billing systems. Asseco's competence centers are located in Poland, Czech Republic, and Germany.

Tecsisa was established in 2001 as a company specializing in IT consulting. Its headquarters is located in Madrid. It currently employs about 50 people. The company is managed by two major shareholders, Victor Ruiz Jimenez, CEO and Juan Jose Vazquez Delgado, CTO. The largest customer of Tecsisa is the Italian energy company ENEL, which covers 34 countries on 5 continents, supplying energy to more than 73 million end users. Enel has chosen Kommodo as the leading CIS solution for most of its branches in Latin America and Italy, and is planning further implementations in the US, Australia and South Africa.

The new billing system provides the possibility of offering advanced convergent services. In the future, we will be able to develop the system's functionalities and adapt it to our needs on an ongoing basis. All this ultimately translates into a higher quality of service for our customers, which is our primary goal, said Bruno Chomel, CIO at Orange Polska.

As part of our cooperation with Orange, which began over 25 years ago, we have participated in many IT projects of various difficulty levels. Our task has been to develop and maintain selected groups of systems. We are glad that once again we could support Orange in building modern solutions. This is an example of high customer trust and confirmation of the competence of the Asseco team, said Paweł Piwowar, Vice President of the Management Board of Asseco Poland.

The basic assumption of this project was to reconstruct the entire set of functionalities and data from the old system in the new billing environment. This project required full mobilization of our team, as it was one of the largest data migration on the Polish telecommunications market and one of the largest in Europe. Such projects are burdened with high risk and I am glad that once again we have proved that we are a trustworthy partner. Particularly noteworthy is the fact that in addition to the successful migration of customers we have succeeded in shutting off the previous system, which is not so obvious in this type of projects, said Radosław Semkło, Director of the Telecommunications and Media Division at Asseco Poland.

While the migration of business customers was carried out in stages, and the main difficulty was the complexity of services and the need to adjust the offer, the migration of customers from the wholesale market, along with their history, had to be carried out in a one-off operation. It was a big challenge because the whole process had to be performed without any impact on current operational work, in a very short, as for such a complex process, service window. The migration was carried out in close cooperation between Orange and Asseco, in accordance with the schedule adopted by both parties, and at present the clients are already receiving clearing documents from the modern billing system, said Sławomir Madej, Operations Director of the Group, Asseco Poland.

Asseco has over 20 years of experience in implementing projects for the telecommunications sector. The company's solutions are used by leading GSM and fixed telephony operators, such as Orange. The company provides, among others, IT solutions enabling the introduction of convergent offers and supporting sales and customer service. It has competence centers in Poland, Central Europe and Israel.

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For over 25 years it has been creating technologically advanced software for companies from key sectors of the economy. The company is present in over 54 countries around the world and employs more than 24,000 people. It is also the largest supplier of modern IT solutions in Central and Eastern Europe.

Efficient cooperation between partner institutions and medical networks

The new solution will introduce a number of facilitations in the process of providing health care services. Ultimately, the networks which will benefit from the solution will also be able to manage electronic medical records through it. This will translate into faster diagnosis and the access to data and improved quality of patient care.

In today's world, digital solutions are the basis for quality and efficient delivery of medical services. Patients are also increasingly more willing to use mobile applications, expect electronic access to examination results or decide to contact a doctor remotely. Thanks to the new solution, Medicover Polska's patients will be able to search and book online a medical visit not only in our medical centers, but also in all cooperating institutions throughout the country, said John Stubbington, COO Healthcare Services, Medicover.

It is a unique project based on a partnership cooperation and the innovative approach of Asseco Poland and Medicover Polska to develop proprietary solutions for the healthcare sector. Its implementation will not only ensure efficient service provided by partner branches, but will also allow to achieve the three most important objectives facing the healthcare sector worldwide, namely improving the quality of services as well as increasing their availability and economic efficiency, said Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

The first phase of the project is planned to be completed by the end of 2019 and the second phase by mid 2020. The solution will also be continuously extended with new functionalities in order to address the challenges faced by the health sector in the best possible way, while setting new standards in the medical care market.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For over 27 years it has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is a leader in the market of IT solutions for healthcare and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, blood donation and blood transfusion centers, health resorts, as well as about 10,000 clinics and doctor's surgeries.
Medicover Polska has been providing its patients with full medical care for over 20 years, including ambulatory services, laboratory and imaging diagnostics, dentistry and comprehensive hospital care. It offers services available in the form of subscriptions and medical insurance, which are intended for both companies and individual customers. Medicover Polska is present in all regions of Poland. For more information, please visit www.medicover.pl.

The launch of the EESSI system is a large and important implementation on a national scale. ZUS and Asseco put a huge effort into making ZUS one of the first institutions in Europe to be ready to exchange information electronically. Until now, the whole process of transferring them was mainly paper-based and required time-consuming translation of documentation, which significantly prolonged the ongoing proceedings. Thanks to EESSI, the procedures will be significantly shortened, which means that many Poles working abroad and foreigners working in Poland will be able to settle their matters faster, said Sławomir Szmytkowski, Vice President of the Management Board, Asseco Poland.

It was a very complex and technically complicated project. No previous modification of KSI required such a large number of changes. The majority of them concerned the key modules of the Comprehensive Information System (KSI ZUS). The main element built from scratch was the so-called National Application, i.e. a module responsible for conducting dozens of information exchange processes. We estimate that it will support the handling of about 1.5 million cases annually, said Arkadiusz Wójcik, Director of the Social Insurance Division at Asseco Poland.

Asseco signed the agreement for the modification of the Comprehensive Information System (KSI ZUS) and its adaptation to the electronic exchange of information and documents in 2017. The value of the project amounts to over PLN 20 million gross.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth largest producer of software in Europe. It leads international Asseco Group, which operates in over 50 countries and employs over 24,000 people. Asseco is the largest producer of software for the public sector in Poland. The company has built and implemented comprehensive systems for, among others, the Social Insurance Institution (ZUS), the Ministry of Interior and Administration, the Ministry of National Education, the Supreme Chamber of Control (NIK), the Central Statistical Office (GUS), the Agricultural Social Insurance Fund (KRUS), the Agricultural Property Agency (ANR) and the Institute of Meteorology and Water Management (IMiGW). In addition, for many years Asseco has been a trusted partner for the power industry, telecommunication and healthcare sectors as well as uniformed services and local governments.

The aim of the report is to present 12 recommendations, which should be implemented in Poland in the years 2019-23, to Polish politicians and decision-makers. We are hoping that in the next term of the Sejm, we will succeed in building a broad consensus among all political circles so that the Polish government administration will be among the world leaders in the digitization process and Poland and its domestic companies will significantly improve their position in IT-related areas– said Bartłomiej Michałowski, one of the authors of the report and the member of the Board of the Sobieski Institute, during a press conference organized at the Warsaw Stock Exchange.

The Polish IT sector must grow 3 times faster if Poland is to become the leader in digitization on a European and even global scale. It is alarming that in recent years the domestic new technologies sector has been developing more slowly than the whole economy. And it is the condition of Polish IT companies which will determine whether the state will have a partner in the process of digitization of administration and building innovation and technological sovereignty of the country. A strong IT sector is also a chance for us to create in Poland advanced products with export potential, which will contribute to Poland's GDP growth – said Dariusz Śpiewak, vice-president of the Polish Chamber of Information Technology and Telecommunications and the co-author of the report.

Innovation and digitization of the state have been present in the declarations and program of all policy makers for years. I am hoping that the publication of the report will help politicians look at these issues from a new, more practical point of view. I am convinced that the actions recommended by the Sobieski Institute may not only significantly accelerate the process of digitization of our country, but also contribute to the development of the Polish economy in areas which in today's world determine the position of the state, its sovereignty and the comfort of life of all its citizens. As the largest Polish IT company, we have been supporting and will support the development of such projects because we believe that in this way we contribute to the development of our country – said Sławomir Szmytkowski, Vice President of the Management Board of Asseco Poland.

12 recommendations for politicians for the years 2019-23

Among the 12 recommendations for the years 2019-23, the authors of the Report indicate the need to appoint a Plenipotentiary for Common IT Infrastructure of the State, who will also be the head of the IT Office of the Government. The plenipotentiary's task would be to implement horizontal tools and solutions (for all ministries) supporting public administration activities specified in the Integrated State Informatization Program and the Act on Common State Informatization Infrastructure. In addition, the experts recommend to significantly increase the number of implemented innovative projects by introducing the obligation of a specific number of innovation testing grounds for all ministries and strategic State Treasury companies. "From the perspective of an entrepreneur, especially the one who runs a start-up, a simple and fast path enabling testing of new solutions and technologies is very important. For companies that are just starting. Prolonged talks or negotiations cause additional costs” – emphasizes Dr. Przemysław Chojecki, the co-author of the publication.

The experts also draw attention to the need to apply public procurement law in such a way as to serve innovation and digital transformation in government administration, local government and companies where this law is in force. They call for promoting and rewarding decision-makers who are courageous, creative and open-minded in implementing innovative solutions. They also recommend building Poland's technological sovereignty on the basis of domestic ICT products, as well as supporting exports of technologically advanced products. „The Polish army is undergoing significant modernization and is implementing a broad investment program. Polish ICT companies should take a very active part in these programs” – says Filip Seredyński, the member of the Sobieski Institute Board and the co-author of the report.

According to the authors of the report, the state should directly conclude with global IT companies license agreements for standard software for all ministries, institutions and government agencies. Also, an Ambassador for Cooperation with Global IT Companies should be appointed, whose role will be to take care of the interests of Poland and Polish citizens in relations with the world's largest IT companies (as in Denmark). It is also necessary to implement solutions from the so-called Green IT area in administration and to use ICT technologies for constant monitoring and improvement of the natural environment of Poland.

In addition, it is worth developing mechanisms which, like the so-called social clauses in tenders, will give advantage to public sector solution providers which pay taxes. It is also recommended to develop digital competences of the society through further development of the National Educational Network, popularization of sciences related to the digital economy and the use of ICT in public services, above all in health care. „ICT solutions also have a huge potential in medical care of elderly people. The costs of hospitalization and care 24 hours a day in the long term are becoming a heavy burden for the public health care system” – says Dr Piotr Hańczyc, the expert from the Sobieski Institute and the co-author of the report. The last recommendation is to revive the Public-Private Partnership and to use the innovativeness of Polish private companies, especially in the field of transport, energy, municipal services and smog control.

The report also includes an overview of the international rankings that evaluate the Polish economy. They may be used to assess Poland's progress in the areas of innovation and the use of modern ICT technologies. The authors also give examples of how the projects currently being discussed in the public debate could contribute to the development of Polish ICT companies. „The reconstruction of the Saxon Palace should be used to create the Centre for the Future of Poland, where real solutions and virtual ideas of the future supporting medicine, security, energy efficiency and space exploration would be presented. The program to rebuild local bus transport should be used to create a central, intelligent travel planning system for everyone who wants to take advantage of new, local connections” – says Bartłomiej Michałowski.

Asseco has been building, maintaining and developing the SIA system for over a dozen years - in the years 2015-2016 we initiated, among other things, significant technological and architectural changes that it then underwent. I am convinced that our extensive knowledge of the system and our previous experience guarantee the highest quality of services provided, said Arkadiusz Wójcik, Director of the Social Insurance Division at Asseco Poland.

Apart from Asseco, DXC Technology and Comarch have submitted their offers in the proceeding, however, Asseco has proved to be the most advantageous bidder.

***

Asseco Poland has been supporting Polish farmers for many years, being the largest producer of software for the public sector in Poland. The company has built and implemented comprehensive systems for the Agency for Restructuring and Modernization of Agriculture, the Agricultural Social Insurance Fund, the Agricultural Property Agency, the Social Insurance Institution, the Ministry of Interior and Administration and the Institute of Meteorology and Water Management. Asseco Poland is also the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth largest producer of software in Europe. It leads international Asseco Group, which operates in over 50 countries and employs about 24,000 people.

The full report can be downloaded from: www.politykainsight.pl/raporty/czempioninarodowi

The voice service is the future. I think that increasingly more tasks will be performed with the use of voice communication. The development of banking system user interfaces as a more user-friendly and convenient form of access to banking services will certainly be heading in this direction. This is one of the reasons why Asseco Voice Banking, one of the first two commercial products developed as part of the Asseco Innovation Hub program, has been developed. It is a place which gives young people a chance to implement their own ideas and thus create innovative products, such as Asseco Voice Banking, which are used in business, said Jarosław Bryl, Managing Director of Asseco Innovation Hub.

We have decided to develop Asseco Voice Banking because we are aware that there is no more natural form of communication than voice. It is much faster to say something than write, and also, the problem related to learning how to use a given interface disappears. Simple operations are performed in a much more convenient way. I think that Asseco Voice Banking can encourage to online banking all those who have been afraid that they will not be able to handle such service or have had difficulties with handling their online account. And if we add to this the fact that it is a highly mobile solution, users will certainly be encouraged to test it in practice,  said Tomasz Buczak, director of the Asseco Innovation Hub division.

The VivicLabs team has successfully completed the first stage of the project - the incubation of the solution, which aimed to provide MVP (Minimum Viable Product). During the Show Me Day, it presented a system demo and received an invitation to the second stage - the acceleration, during which a ready-made commercial solution is being developed. The first production implementation in selected banks operating on Asseco's banking systems is planned for the fourth quarter of 2019.

To use Asseco Voice Banking, one can choose the default voice assistant in Android or download the Google Assistant application from AppStore. The next step is to confirm your identity and willingness to use the voice assistant by logging into the electronic banking system. From that moment, the user can request banking operations by voice, which can thus be performed on the phone and all devices equipped with native Google Assistant functionality.

The voice service offered by Asseco is fully secure. The execution of transactions with the use of Asseco Voice Banking requires confirmation of this form of communication with a bank by a special PIN code at the very beginning of the process. The code is sent as a push message to the client's phone. At a later stage, each banking transaction order is executed with the use of a mobile application for transfers authorization, such as mToken Asseco MAA.

Asseco Voice Banking can be integrated with any type of internet banking offered by banks. At present, this functionality is available via Asseco Customer Banking Platform, but the solution can be integrated with any e-banking system.

Ultimately, Asseco Voice Banking will be used not only in banking, but also in systems outside this sector, for example in those designed tohandle stock market investments or book visits to medical facilities.

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth-largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. The development of software for banks is one of the key business areas of Asseco Poland, which offers solutions which meet the latest trends in global banking. Currently over 800 banks use our core banking system.

*Source

The provision of e-Services, such as medical e-Documentation, e-Referrals, e-Leaves, etc. generate specific IT needs in health care units, regardless of the scale of their size. Asseco, as a proven partner in the healthcare sector, conducts intensive activities aimed at assisting the institutions in their informatization and meeting the regulator's expectations. In addition, we participate in pilot projects initiated by the Ministry of Health. This way, we can fully verify the requirements of medical institutions and prepare them to offer digital services, said Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

We are in the process of implementing the next stage of hospital digitalization. Our partner and the main contractor of this project is Asseco. The aim of the project is to transfer processes such as patient registration for a medical appointment or preparation of medical history to the electronic sphere. As a result, the time of their implementation will be shortened, which is what our patients expect. What is important, they will gain access to their medical records thanks to the implementation of an integrated system of e-Services. The assumed result of the project is to strengthen the potential of our hospital, as well as its competitiveness. The benefits of the changes will be felt by the residents of Biała Podlaska and the whole area our hospital operates in, said Dariusz Oleński, Director of the Voivodeship Specialist Hospital in Biała Podlaska.

Asseco has been participating in the process of digitalization of medical facilities of large hospitals, smaller clinics and doctor's offices. The driving force behind the increased activity of health care units is, among other things, the possibility of obtaining additional financing from the EU funds. Owing to this, they are able to offer their patients access to e-Services and thereby improve the quality of their service, said Daniel Pastusiak, Deputy Sales Director at Asseco Poland.

All the projects conducted by Asseco are co-financed with the EU funds from the Regional Operational Programme for the Lublin Voivodeship for 2014-2020. The implementation is scheduled to be completed by the end of 2019.

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been developing technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader in the market of IT solutions for healthcare and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centres, health resorts, as well as over 14,000 clinics and doctor's surgeries. Asseco software was successfully tested during the Connectathon IHE marathon in The Hague in 2018. This is an official confirmation of the effective interaction of Asseco systems with other IT solutions and their compatibility with the IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

For years we have been cooperating with the PGE Group, implementing projects of various complexity levels, providing both maintenance services as well as implementation and development services. I am glad that we have been trusted once again, said Magdalena Kaczmarek, Sales Department Director, Asseco Poland.

Additionally, under agreements signed separately, Asseco will provide maintenance services for the data acquisition system AUMS ADO and the portal for electricity retailers AUMS PSEE in PGE Dystrybucja. The gross value of the contract amounts to nearly PLN 2 million.

Asseco is the leader of IT solutions for the energy sector in Poland. It has been also developing its activities on international markets, including Serbia, Nigeria and Ethiopia. The flagship solutions of the company are the IT systems from the AUMS line, which support all processes related to the management of electricity. They are used by trading companies, energy distributors and customer service companies. Asseco offers products and services which allow for a measurable reduction of operating costs, streamline operations and increase the competitiveness of companies from the energy sector. It also implements projects of centralization and migration of large data volumes. It has about 65% share on the Polish energy market. In addition, nearly 60% of energy bills are generated on the basis of the company's proprietary billing systems. Asseco's competence centers are located in Poland, Czech Republic and Germany.

The first three months of 2019 were very successful for the Group - we achieved record-breaking results and improved profitability. It is worth noting that this was the 36th consecutive quarter when Asseco recorded an increase in its sales revenues and 58th consecutive quarter when it was profitable. This makes us the undisputed leader among IT companies listed on the Warsaw Stock Exchange, said Rafał Kozłowski, Vice President of the Management Board, Asseco Poland.

We have promising development prospects. Compared to the first quarter of 2018, the consolidated order book increased by 9% and amounts to PLN 7.2 billion. Asseco International started to implement new major projects for the public sector in the Czech Republic and Slovakia, and we have been developing our presence in the banking and ERP segments. We are also satisfied with the results of Formula Systems, which has a strong backlog for 2019, thanks to new companies in which it invested last year. On the Polish market we have won significant public tenders, including at the Agency for Restructuring and Modernization of Agriculture (ARiMR), the Farmers' Social Security Fund (KRUS) and the Social Insurance Institution (ZUS), and we have been strengthening our position in cyber security as well, he added.

The Asseco Group's sales revenues are diversified by sectors and in the first quarter of 2019 they were distributed among general business (38%), banking and finance (39%), and public administration (23%). Asseco is also geographically diversified and presents its results broken down by three segments. Formula Systems generated 61% of consolidated sales revenues of the Group, Asseco International-27%, and Asseco Poland - 12%.

Currently, the Group's order backlog for 2019 at the revenue level amounts to PLN 7.2 billion and is by 9% higher than the backlog presented in May 2018.

* Non-IFRS figures include adjustments for amortization charges on intangible assets recognized in purchase price allocation (PPA), for the costs of share-based payment transactions with employees (SBP), as well as for financial income and expenses recognized in accounting for company acquisitions (M&A) and disposals (inclusive of the related tax effects).

Asseco offers years of experience in designing, developing and implementing cyber security applications, as well as providing and maintaining firmware solutions and implementing third-party software. Owing to the acquisition of ComCERT, we are expanding our expertise in cyber security consulting and strengthening our position in this market segment, said Zdzisław Wiater, Director of the International Organizations and Solutions for the Security Sector Division at Asseco Poland.

The incorporation of ComCERT into the Asseco Group is a result of higher sales dynamics in this sector. We have been observing increased interest in security not only on the domestic market but also abroad, mainly in Africa. Ultimately, the ComCERT team will be supported by the Asseco specialists' competences related to design and implementation of third party security solutions, said Andrzej Dopierała, Vice President of the Management Board, Asseco Poland.

We have been operating on the market since 2012 and are the first team providing CERT services, not connected with any telecommunication operator. We have also built one of the most experienced teams providing cyber security services on the Polish market. After joining the Asseco Group and thanks to the combined experience of Asseco and ComCERT experts, we will be able to reach a larger number of clients and implement even more demanding projects, said Tomasz Chlebowski, President of the Management Board, ComCERT.

Asseco has been developing dynamically in the cyber security area and carrying out interesting implementations in Poland and abroad. In 2018 alone, the revenues from this area reached the level of PLN 80 million. In March this year, it was announced that Asseco Data Systems (ADS), in cooperation with Asseco Poland and ComCERT, will launch "CyberDefenseAfrica" in the Togolese Republic - the first institution responsible for cyber security in this country. This cooperation will be carried out as part of a joint venture which ADS has created with the Togolese government. The new organization will start operating at the beginning of 2020 and the cost of the investment will amount to approximately EUR 14 million.

We have been cooperating with Asseco for many years now, using the transaction system, e-banking solutions and tools facilitating the work of our advisors in our branches. A natural step was therefore the implementation of the latest functionality, which significantly improves the quality of customer service and automates sales and clearing processes. Such a solution is the CUI.Ubezpieczenia platform, which operates in our bank. Thanks to our partnership with Asseco and AXA, we have managed to expand the source of our revenues, said Paweł Kapel, President of the Management Board, Cooperative Bank in Lubaczów.

The CUI.Ubezpieczenia platform is offered free of charge to cooperative banks which already use the Asseco Internet Services Centre.

We understand the needs and current expectations of cooperative banks. That is why we have created the CUI.Ubezpieczenia platform, which can significantly increase their competitiveness and revenues. It is also very important that cooperative banks, which are already our clients today, can switch this functionality on and start offering new financial products in a completely cost-free manner, said Andrzej Nowakowski, Director of the Cooperative Banks Division at Asseco Poland.

Thanks to the integration of the CUI.Ubezpieczenia platform with the banking system and automation of processes, such as collecting contributions from a client's account, AXA has enabled the customers of cooperative banks to make payments on a monthly basis. The CUI.Ubezpieczenia platform, in addition to increasing the competitiveness of cooperative banks, has a chance to popularize a new model of bancassurance based on omni-channel solutions.

Bancassurance needs a new impetus as it has been shrinking year after year. In 2018, insurance premiums acquired in this channel amounted to PLN 7.6 billion, 25% less than in the previous year. We find the cooperative banking sector promising, as these banks are currently making a kind of technological leap. We want to accompany them in this development process because it also opens up an opportunity for business growth for us. The CUI.Ubezpieczenia platform is innovative and I expect that soon next players will follow our lead. It is good for the market to develop in this direction because the positive experience of customers, which builds confidence in financial institutions, is now priceless, said Marcin Wąsikowski, managing director of AXA's bancassurance and affinity sales.

CUI.Ubezpieczenia today gives cooperative banks the opportunity to offer various types of insurance, which AXA has prepared. It can be said that thanks to Asseco's application of the latest technologies, we are able to offer high quality and affordable products together with our partners. But this is just the beginning. We are currently working with AXA to expand our insurance offer. Currently, our offer includes cash loan insurance, life insurance, accident insurance and medical and home assistance. The platform will be developed so that it also includes housing, communication and travel insurance, as well as non-financial products and services. This will certainly increase the competitiveness of cooperative banks in the financial market, said Kamil Parzuchowski, Business Development Manager, Asseco Poland.

The CUI.Ubezpieczenia platform is fully integrated with the Asseco Advisory Banking Platform designed for customer service in a branch as well as with the e-banking available within the Asseco Customer Banking Platform.

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Asseco for cooperative banks

Asseco has been developing software for cooperative banks for nearly 30 years. It includes both comprehensive IT solutions and specialist systems facilitating the work of banks. Asseco systems are implemented in the on-premise model using local installations as well as in the cloud. The Asseco Internet Services Centre is already used by over 110 cooperative banks.

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth-largest European software producer. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. Development of software for banks is one of the key areas of Asseco Poland's business operations. The company offers solutions which respond to the latest trends in global banking.

AXA Group in Poland

AXA is one of the largest insurance groups in the world. It has been present in Poland since 2006. It is a universal insurer with a full range of non-life insurance and life insurance products used by over 3 million customers, including companies and multinational corporations. Additionally, it manages investment funds and private pension funds (OFE). AXA is the sixth-largest capital group on the non-life insurance market with 4.8% market share measured by gross premium written at the end of 2018. AXA holds ninth position in the life insurance segment. In Poland, AXA is mBank's exclusive partner in offering life and property protection insurance.

Asseco Poland will deliver its proprietary products and services related to the administration, maintenance and security of the National Cloud, as well as solutions dedicated to its future clients.

The National Cloud is one of the most important IT initiatives in Poland in the near future. It is to facilitate Polish entrepreneurs' access to solutions reducing the costs of IT infrastructure maintenance, while maximizing the level of security. Our experience and position of the largest software vendor on the Polish market perfectly fits this trend in the development of the IT market; therefore, co-creating this initiative is a natural step for us, said Tomasz Buczak, Director of the Asseco Innovation Hub at Asseco Poland.

Asseco Data Systems, offering its comprehensive competence in cloud services, will implement and share its solutions also based on the National Cloud infrastructure. In addition, ADS has its own cloud in the IaaS, CaaS and PaaS models, allowing it to execute joint hybrid implementations with the National Cloud. It also complements its services with solutions enabling business continuity in the event of DRaaS (DisasterRecovery as a Service) failure.

The Polish Cloud is a very important and necessary project on the Polish IT market and a great opportunity to popularize cloud technologies both in the business and public sectors. Owing to ADS's experience in the area of such solutions, we will be able to implement comprehensive integration projects together with the National Cloud, related to migration of customers to the new cloud. In addition, we want to use our expertise to support our clients in designing and optimizing the architecture of IT systems as well as in implementing hybrid solutions, said Marcin Lebiecki, Director of the Cloud Services Division at Asseco Data Systems.  

Asseco has been a reliable partner for the Polish healthcare system for many years. We have been cooperating with the National Health Fund for 3 years now and I am glad that we will be able to continue this work. Systems such as SIWDZ in the National Health Fund are responsible for the settlement of healthcare services used by millions of patients in Poland. Therefore, their processing must be stable. We understand our social responsibility as a supplier, and therefore we will make every effort to ensure the necessary security of our services, said Krzysztof Groyecki, Vice President of the Management Board, Asseco Poland.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been developing technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth-largest software producer in Europe. It is a leader on the market of IT solutions for health care and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centres, health resorts, as well as over 14,000 clinics and surgeries. Asseco has successfully passed tests during the Connectathon IHE marathon in The Hague in 2018, which is an official confirmation of Asseco systems' effective interconnection with other IT solutions and compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

The Asseco Group's revenues are diversified by sectors, and in 2018 they were divided into general business (38%), banking and finance (40%), and public administration (22%). The Group is also geographically diversified and presents its results divided into three segments: Asseco Poland (Polish market), Formula Systems Group (Israeli market) and Asseco International (other international markets).

It was a very good year for Asseco. Our revenues reached the highest level in history - over PLN 9.3 billion. Operating profit amounted to PLN 796.8 million, which is also a record-breaking result. We developed dynamically in all segments of our business: Asseco Poland, Asseco International and Formula Systems. We successfully developed the sales of our proprietary software and carried out successful acquisitions. We have been also constantly developing our innovations because we want to keep the freshness and flexibility of startups while being a large international company. However, our approach to innovations is pragmatic - Asseco's products are developed on the basis of real market needs and in close cooperation with our clients, said Adam Góral, President of the Management Board of Asseco Poland.

On the Polish market, very good results were achieved in the banking and finance sector. Significant growth in this area results from consistent development of the sales of proprietary banking products, with which Asseco Poland has been increasingly more active abroad. In 2018, Asseco Poland was also joined by Nextbank, which sells its core banking system in a cloud option for banks in the Philippines.

The Asseco International segment, under which the Group's international operations are developed, increased its sales revenues by 16% versus 2017. Asseco strengthened its position in Central Europe thanks to acquisitions and growing sales of ERP systems and modern solutions for industry. Asseco Central Europe also signed several important contracts with public sector institutions in the Czech Republic.

Asseco SouthEastern Europe, which consistently strengthens its position in the payment market, enjoyed another record-breaking year, and currently offers advanced payment solutions under the new Payten brand. It also successfully implements the strategy of international expansion. Recently, it has entered the Spanish-speaking markets and is planning further acquisitions. Revenues were also increased by companies operating on the Western European market and in Portuguese-speaking African countries.

The Formula Systems Group companies continue their growth thanks to successful acquisitions on the Israeli and US markets and entry into new, prospective business areas. Sapiens, one of the world's largest providers of IT solutions for the insurance sector, returned to growth after a difficult year in 2017 and significantly improved its results.

Currently, the Group's order backlog for 2019 at the revenue level amounts to PLN 6.2 billion and is by 14% higher than the backlog presented in March 2018.

Asseco Poland has been consistently building shareholder value and has continuously shared its profit with the shareholders. This year, the company's Management Board recommended the payment of the highest dividend ever.

The Group's very good financial results and promising development prospects allowed us to recommend a record dividend and allocate PLN 254.8 million for this purpose this year. Asseco has been consistently sharing its achievements with the shareholders for years and has so far allocated almost PLN 2 billion for dividend payments, said Adam Góral, President of the Management Board of Asseco Poland.

The amount of dividend recommended by the Company's Management Board is an equivalent of PLN 3.07 per Asseco Poland's share and translates into a dividend yield of 6.1% (as at March 25, 2019).

Asseco has been developing the PROMAK product brand on the capital market for over 20 years. Now we have set ourselves the goal of creating a new trading platform which will be even more intuitive. ePROMAK NEXT has been designed in a completely different way than all our existing solutions. In addition, the project has been created in order to meet the expectations of investors who implement various investment strategies on international trading floors. I can confidently say that as a result of our work we have delivered a complete product, said Artur Trunowicz, Director of the Capital Market Division, Asseco Poland.

ePROMAK NEXT is a technologically advanced system, which gives an opportunity for further development of new services in the area of robo-advisory, i.e. automatic adjustment of an investment portfolio to the needs of an investor and the creation of order proposals. The architecture of our system allows an investor to focus from the very beginning on the implementation of investment objectives and the full use of the services offered, without the need for participating in special training. A simple way of presenting information and a modern user interface ensure full comfort of work, said Marcin Zaniewicz, Expert, Business Consultant, Asseco Poland.

Asseco's new trading platform is adapted to all commonly used types of devices thanks to the RWD technology. The system is also able to handle many thousands of users at the same time without any limitations in the execution of orders. Additionally, it can be integrated with social media channels, which gives less experienced investors the option of copying transactions from other people, thus reducing investment risk.

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Asseco Poland is the provider of the PROMAK systems product family which is dedicated to the financial sector. The solutions effectively support the work of brokerage houses, banks, depositaries and investors, both individual and institutional. Asseco Poland is also the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the 6th largest software producer in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people.

*Source: The Business Value of UX Design

Investor relations should involve a proactive approach - the participation in investor meetings and conferences in Poland and abroad. It is important to try to anticipate which topics may be of interest to investors at a given moment. Our freefloat, i.e. the share of shareholders holding less than 5% of stake in Asseco Poland, is currently about 65%. Individual investors constitute a strong representation in this group. In communication we focus on online channels. We can see that such tools as social media or video content reach small shareholders in the shortest possible time and are most often observed by them. They expect the most up-to-date and cross-sectional information, which allows not only for the analysis of financial results, but also for a better understanding of Asseco's business operations. We are an expert in a very innovative IT sector and we want to share this knowledge with investors. Last year we engaged our managers in the communication with the market. A series of videos was created in which the heads of our individual business areas talk about ongoing projects, development plans, opportunities and challenges. On our investor website we also publish recordings with comments from members of the Management Board on the financial results after each quarter, said Katarzyna Szczepaniak-Piętka, Investor Relations Manager, Asseco Poland.

Establishing the cooperation with Oracle confirms our competencies as a proven provider of systems for key enterprises from the utilities sector. Thanks to it, the billing systems from the AUMS family will become available for even more companies from Poland and abroad. It is worth mentioning that Asseco's experience in developing software for the power industry is appreciated by our clients and partners, and the billing systems provided by us guarantee the reliability and continuity of billing processes. We hold the Oracle Platinum Partner title, which also strengthens our position as the supplier of software fully adapted to sales in the SaaS model, said Paweł Piwowar, Vice President of the Management Board, Asseco Poland.

Thanks to the implementation of Asseco's billing applications in the Oracle cloud, customers are not only assured of a short implementation time, but can also quickly launch new products on the market. This also translates into the possibility of the flexible development of new functionalities, without the need to invest in infrastructure and resources to maintain it. All Asseco systems are also adjusted to the applicable legal regulations on an ongoing basis. In turn, the Oracle cloud architecture guarantees the security of data storage and processing in accordance with the applicable provisions of the GDPR regulation.

Asseco and Oracle join forces, thanks to which customers from the utilities sector will gain access to modern technologies in a very flexible cloud model while enjoying the highest security standards. The partnership with Oracle will also allow us to sell our products in an attractive form, at a much lower price than in the case of traditional on-premise implementations, said Magdalena Kaczmarek, Sales Department Director, Asseco Poland.

The offer of Asseco's systems in the Oracle cloud can be used by customers from all segments and various sectors. The agreement was concluded for an indefinite period of time.

Asseco in the power sector

Asseco is the leading producer of IT solutions for the power sector in Poland. It also develops its activity on international markets, e.g. in Serbia, Nigeria and Ethiopia. The Asseco AUMS systems support all processes related to electricity management used by trading companies, energy distributors, and customer service companies. The company provides solutions which allow for the measurable reduction of operating costs, the improvement of operations and the increase of the power sector companies' competitiveness. It also implements projects focusing on the centralization and migration of large data volumes. It has about 65% share in the Polish energy market. In addition, nearly 60% of energy bills are generated based on the company's proprietary billing systems. It has competence centers in Poland, the Czech Republic and Germany.

The launch of a qualified signature service in the AMMS system gave us a lot of possibilities. Achieving necessary savings was crucial. An electronic cloud signature is not permanently assigned to one person. Owing to this, in the event of any personnel changes, the selected license goes to a free pool and can be assigned to a new employee without incurring any costs. An additional benefit is the simple operation of the AMMS application, which is already well known to our staff. In addition, the certificate is stored in the cloud, so, for example, one cannot forget to take it to work, which used to happen with traditional solutions, said Paweł Szymański, IT Director, ORPEA Polska.

From the business point of view, a qualified electronic signature ensures interoperability and the cross-border use of electronic documents. Owing to this, a medical facility can cooperate with many entities in the country and abroad. This includes the exchange of documentation, commissioning tests, as well as contacts with medicine and equipment suppliers. Additionally, the launch of the signature in the AMMS application significantly streamlines the process of patient service and unit management, said Krzysztof Groyecki, Vice President of the Management Board, Asseco Poland.

The implementation of a qualified electronic signature in a medical facility allows for the complete elimination of the paper circulation ofdocuments both within a unit and in relations with external entities. Such opportunities are not offered by a "trusted signature" or a "PUE ZUS signature", which are legally permissible only in strictly defined cases, said Artur Miękina, Key Projects Sales Director at the Security and Trust Services Division, Asseco Data Systems.

According to the EU regulation 910/2014 (the so called eIDAS), a qualified electronic signature is recognized in all EU member states. An electronic document is as important as the one having a handwritten signature.

The agreement with Asseco was concluded for a period of 5 years.

Website of Qualified Electronic Signature SimplySign by Asseco

Website of Asseco Medical Management Solutions - the system for hospitals and large health units

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been developing technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader on the market of IT solutions for health care and the manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centers, health resorts, as well as over 14,000 clinics and surgeries. Asseco successfully passed the Connectathon IHE marathon in The Hague in 2018. This is an official confirmation of Asseco's effective interaction with other IT solutions and their compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

ORPEA Polska (formerly MEDI-system) has been operating since 2001. It is a leader in inpatient long-term care. It offers nearly 1,000 places in nine modern centers - nursing homes and rehabilitation clinics, mainly in the Mazovia voivodeship, as well as in Chorzów and Wrocław, where apart from a nursing home there are also Senior Homes (the assistedliving formula). The centers specialize in care and treatment services as well as in neurological, general and cardiological rehabilitation. Over 750 people (nurses and carers, physiotherapists, doctors, occupational therapists, speech therapists and psychologists, auxiliary and administrative staff) take care of the health and safety of residents and patients. ORPEA Polska offers care in rehabilitation wards and care and treatment centers (ZOL) as part of the National Health Fund or in a commercial form. The company is part of Europe's largest network of nursing homes and rehabilitation clinics - ORPEA - present in the sector since 1989 and with a potential of nearly 87,000 places (more than 850 facilities) in 10 European countries, as well as in Brazil and China.

After e-Prescriptions, e-Referrals are the next stage of the informatization of the Polish healthcare system, in which Asseco has been actively involved. In my opinion, the implementation of electronic referrals should bring key benefits to patients, including improved quality of their treatment and easier access to medical services, said Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

The positive effects of the introduction of e-Referrals will also be felt by healthcare professionals, who will receive full patient data, so that registration will take place automatically. We are glad that Asseco, as a reliable provider of healthcare solutions, has the opportunity to participate in the digitalization process of this sector, thus improving the quality of patient treatment and management of this process, Deputy Director of Sales at the Healthcare Division, Asseco Poland.

The pilot project as well as providing patients with access to e-Referrals is carried out in accordance with the guidelines of the Ministry of Health and the Centre for Health Information Systems. At this stage, the implementation of e-Referrals is possible only in places where selected medical facilities are located. As of January 1, 2021, electronic referrals will be available throughout the country.

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been developing technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader on the market of IT solutions for health care and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centres, health resorts, as well as over 14,000 clinics and surgeries. Asseco has been successfully tested during the Connectathon IHE marathon in The Hague in 2018, which is an official confirmation of Asseco systems' seamless interaction with other IT solutions and their compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

Asseco has been consistently following ongoing trends in the healthcare sector. Among them, one direction of change is undoubtedly dominant - it puts patients at the centre of attention, giving them special rights. They are the owner of medical data and very often the main carrier of information about their health. Therefore, it is very important that both a patient and medical units have the tools to simplify the mutual exchange of information. Thanks to our new application, a patient has access to relevant medical information and can decide for whom to provide it. All of this takes place on a smartphone, which is nowadays one of the main communication tools. In my opinion, this direction of change will be of key importance for the healthcare sector in the coming period, said Krzysztof Groyecki, Vice President of the Management Board, Asseco Poland.

From the point of view of medical units in hospitals and clinics or single-person doctor's surgeries, the application saves time and ensures the security of transmitted information. Owing to the application, access to medical data is granted without the involvement of personnel. In turn, doctors gain the possibility of more effective implementation of visits and medical consultations because they can receive medical documentation from a patient in advance. For the managers of medical units it means therefore a reduction of costs related to the work of the staff and telephone communication with patients.

Asseco's Informacje Medyczne application ensures a high level of security of the transmitted data and operates in a simple, fast and modern way. The functionalities of the solution undoubtedly simplify the flow of information between a patient and medical units, and thus fit perfectly into the requirements of co-financed projects aimed at increasing the availability of medical facilities for a patient, said Szymon Chamuczyński, Director of the Mass Products Department, Asseco Poland. We are constantly developing our product because we want it to become one of the basic tools supporting a modern patient in the treatment process, and so for example, we will soon add the possibility of remote prescription ordering or receiving a message directly from the attending physician, he added.

The new solution is integrated with Asseco's another application – Apteczka Domowa (Home First Aid Kit) - which is used to manage medicines in terms of their possession, dosage, application and expiry date. It can be run directly from the Informacje Medyczne application level.

Check with your medical institution to see if it uses the Informacje Medyczne application for patient service and download it today!

GooglePlay

AppStore

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For over 25 years is has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader on the market of IT solutions for health care and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centers, health resorts, as well as over 14,000 clinics and surgeries. Asseco successfully passed the Connectathon IHE marathon in The Hague in 2018. This is an official confirmation of Asseco systems' seamless interaction with other IT solutions and their compatibility with the IHE integration profiles. The use of the IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

*Source
PwC report

During three days of the fair, Asseco Poland will also present its latest solution, which fits into this year's main theme of the event - Smart Cities. This will be the AUMS MDM software, which ensures efficient data acquisition and management from smart and traditional electric and gas meters.

In turn, experts from Asseco BERIT will present new functionalities of the SAMO system for enterprise resource management, integrating information on infrastructure, fixed assets and maintenance processes. The functionalities make it possible, among other things, to identify the key elements needed for the proper functioning of the power grid and to estimate the operational costs of the maintenance of the technical infrastructure.

E-world Energy &Water trade fair is one of the most important events of the year for us. It provides a unique opportunity to reach key representatives of the utility sector with the company's offer. It is therefore a good place for the official launch of products and services. This year we will present our latest solutions for energy sales and billing - AUMS Billing Lite and AUMS Billing Smart. We will not only talk about them, but also show how they work in practice. Already today we invite all the guests to our demo presentation, said Jerzy Popowicz, Business Development Director, Asseco Poland.

„E-world Energy &Water” is the largest European event for the utility sector. The previous edition was attended by 750 exhibitors and 25,000 participants from 73 countries.

Be SMART and learn more about the Asseco 360⁰ offer for the power sector!

We cordially invite all the guests to the Asseco stand no. 1-412 in Hall 1.

Not only will Asseco Innovation Hub help to develop innovative ideas, but it will also make it easier to bring them to the market. Thanks to the cooperation with Asseco, solution developers will gain access to the company experts' knowledge and resources, receive the necessary financing, conduct tests of their solutions, and will be able to promote their products at industry conferences of Asseco. AIH will also enable them to work directly with the company's customers.

Currently, customers are expecting increasingly more innovative solutions from IT suppliers, which at the same time will be secure. The Asseco Innovation Hub department provides a friendly environment for the development of innovative ideas and gives the opportunity to transform them into commercial products and launch on the market. The development of new projects takes place in four stages and lasts  about 15 months in total, said Jarosław Bryl, Managing Director of Asseco Innovation Hub. The establishment of AIH is our vision of how the cooperation of a large company with new developers should look like, he added.

AIH is also focused on hackathons, such as the first edition of Code Play, which took place in October this year in Kraków. It was very successful and we are very satisfied with the level of submitted projects. In total, we invited 5 teams to further cooperation. This event is a good beginning of our initiative, which we will implement within the Asseco Innovation Hub, added Tomasz Buczak, Head of Asseco Innovation Hub, Asseco Poland.

In addition to the AIH department, a subsidiary company - Asseco Innovation Fund Sp. z o.o. - has been established, which will be responsible for financing and managing the portfolio of entities which produce and develop products qualified by Asseco Innovation Hub for further development.

Asseco Innovation Hub's site

1 Source: https://www.pwc.pl/kierunek-innowacje

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth-largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. For more than 25 years it has been creating technologically advanced software for companies from key sectors of the economy.

As part of its R&D investment activities, the company will build the Asseco Innovation Hub in Rzeszów, where technologies in the areas of artificial intelligence, cybersecurity, telemedicine, electromobility and IoT will be developed. Asseco also runs its own projects with the financial support of the National Research and Development Centre. Among others, it helped the company to develop the Asseco Ground Control Station for crisis management and cyber security purposes.

The Asseco Group has been joined by a very substantive and business-oriented team. Nextbank is still a small company, but it has already carried out implementations in 5 banks in the Philippines and is currently running further implementations. It has a very interesting product - a core-banking system with the possibility of mobile access for bank customers, which is available in the Amazon cloud. It is fully adapted to the needs of local institutions. We are also counting on the possibility of achieving synergy in the area of our product portfolio in the future, as well as on the exchange of know-how between our teams, said Zbigniew Pomianek, Vice President of the Management Board, Asseco Poland.

There are currently over 500 banks in the Philippines, 450 of which are cooperative banks with limited IT investment budgets and limited access to qualified IT staff in the provinces. For the Asseco Group, the new investment means first of all the possibility of conducting business operations in the Philippines, where no implementations have been carried out so far. It is also an impulse to expand the company's product offer.

Thanks to Nextbank joining the Asseco Group, we have strengthened our potential in the financial sector, which is one of our key areas of operations and currently generates 40% of the Group's total revenues. Our services and products for banks are developed by a team of over 4,000 experts. We deliver them to financial institutions in more than 30 countries on 3 continents. We are present in Central and South-Eastern Europe, in Portuguese-speaking countries, but also in Russia, Georgia, Gibraltar and Vietnam. We have completed over 1,000 implementations with more than 650 customers. Currently over 500 banks use our core banking system. Thanks to Nextbank joining Asseco Group, we have gained an opportunity to enter a completely new market - the Philippines is a region of the world where the Asseco Group has not operated so far, said Marek Panek, Vice President of the Management Board, Asseco Poland.

Joining the Asseco Group is a great opportunity for us to scale our business quickly. Already the first 18 months were very intensive because in such a short time we managed to build a complete product and implement it in 5 financial institutions. The success and satisfaction of these organizations very quickly translated into the decision of several other banks, with which we are currently conducting implementations and the interest of several dozen, with which we are beginning talks. The capital received from Asseco will above all enable us to significantly expand our implementation team and address the demand, which currently exceeds our operating capabilities, as well as to build further complementary systems which will become part of the platform and enable our clients to transform into innovative fintech organizations, fully ready to compete on an equal footing with the emerging fintech startups, said Krzysztof Kogutkiewicz, CEO, Nextbank Software.

Over 20 years of Asseco's experience in building central systems is also very valuable capital of knowledge, which will allow us to avoid potential mistakes. Finally, entering new markets, especially Indonesia, Myanmar and Vietnam, will be much easier with such a partner supporting us, he added.

The transaction value of the acquisition of shares in Nextbank Software is PLN 17 million. There are no plans to merge the Kraków-based company with the Asseco Group.

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth-largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. The development of software for banks is one of the key business areas of Asseco Poland, which offers solutions which meet the latest trends in global banking. Asseco has completed over 1,000 implementations with more than 650 customers. Currently over 500 banks use our core banking system.

As the results of the Asseco's report "Corporate Banking today and in the future" show, customers expect increasingly more innovative solutions which will facilitate their daily work and contact with a bank. For 47% of them, innovation is just as important as safety. An example of a solution which is in line with the global trend of seeking innovation is Asseco Enterprise Banking Platform, which we offer to both the SME sector and corporations, said Marta Mróz-Sipiora, Product Manager, Asseco Poland.

The aim of the Report of Gazeta Finansowa was to distinguish companies which, according to the editorial team, meet the expectations of customers by offering them increasingly more advanced products and services.

Information on the Asseco EBP system: ebp.asseco.com

PUE ZUS is a convenient solution that provides contribution payers, the insured and benefit recipients with access to the most important information collected in ZUS in electronic form. But its development potential is much greater. In my opinion, the development of this type of electronic services is a necessity and an important element in the implementation of the e-state strategy. The state administration is increasingly more focused on modern electronic channels for direct contact with citizens, said Arkadiusz Wójcik, Director of the Social Insurance Division at Asseco Poland. I am glad that the Asseco teams are involved in the execution of such important projects, especially as they require a number of advanced competences and improved level of maintenance services. We are currently observing a recovery in the administration sector in terms of new IT projects and we are looking forward to the coming months with optimism. In the area responsible for serving the public sector alone, since the beginning of this year we have increased employment by about 10% and we are still looking for more people to join us, he added.

Last year, Asseco signed a number of important agreements with ZUS, both in terms of the scale of the implemented projects and their importance for the efficient functioning of the state. The Company introduced, among other things, key modifications in the Comprehensive Information System (KSI ZUS), related to the reduction of the retirement age of pensioners and the introduction of the so-called e-Contribution. The Company also signed an agreement to introduce changes to the Social Insurance Institution due to new regulations concerning the storage of employee records. Its value is PLN 24.5 million gross. Asseco also concluded a new framework agreement for the modification of the ZUS Comprehensive IT System (KSI ZUS). The contract worth almost PLN 350 million gross will be executed over a period of 4 years - Asseco, as one of the two suppliers, will apply for individual projects under mini-tenders.

***

Asseco is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the 6th largest producer of software in Europe. It leads international Asseco Group, which operates in 53 countries and employs over 24,000 people. Asseco is the largest producer of software for the public sector in Poland. The company has built and implemented comprehensive systems for, among others, the Social Insurance Institution (ZUS), the Ministry of Interior and Administration, the Ministry of National Education, the Supreme Chamber of Control (NIK), the Central Statistical Office (GUS), the Agricultural Social Insurance Fund (KRUS), the Agricultural Property Agency (ANR) or the Institute of Meteorology and Water Management (IMiGW). In addition, for many years Asseco has been a trusted partner for the power industry, the telecommunication and healthcare sectors, the uniformed services, and local governments.

The Asseco Group's revenues are diversified by sectors, and in the first nine months of 2018 they were divided into the general business sector (39%), banking and finance (40%), and public administration (21%). The Group is also geographically diversified and presents its results divided into three segments: Asseco Poland (Polish market), Formula Systems Group (Israeli market) and Asseco International (other international markets).

During the first three quarters of this year, we were satisfied with the results we achieved in the banking sector in Poland - the revenues in this area increased by 8%. Among other things, they were positively affected by the consistent development of the sales of our banking products abroad. Also noteworthy is the strengthening of the Asseco Group's presence on international markets. The Formula Systems Group's companies increased their sales and carried out interesting acquisitions in Israel and the US. The revenues in the Asseco International segment increased by 16%, largely thanks to dynamic growth in South Eastern Europe, especially in the payments area. In addition, Asseco Central Europe achieved significantly higher sales, among other things, thanks to the incorporation ofMacrologic, CEIT and DWC Slovakia into the Group, said Rafał Kozłowski, Vice President of the Management Board of Asseco Poland.

The basis for Asseco's operations and development strategy remains the sale of proprietary IT products and services, which in the past period amounted to over PLN 5.5 billion. This represents 82% of total revenues. Additionally, Asseco continues its cooperation with key clients and actively supports new projects. In November 2018, the order backlog amounted to PLN 8.8 billion and was by 6% higher than in the corresponding period in the previous year (assuming consolidation of Formula Systems' results in the whole third quarter of 2017).

During the fair we had the opportunity to present our new offer of systems for the energy sector, primarily used for energy billing - AUMS Billing Lite and AUMS Billing Smart. The choice of a specific solution is tailored to the expectations of a given company and depends on the size of its business. Independent energy suppliers receive a modern system that meets domestic and foreign market trends and allows for mass and cyclical settlement of electricity, gas fuel or cyclical services and additional goods. Pre-configured systems are offered at a competitive price and implementations last no longer than two months. As a result, the Asseco's offering is attractive for our clients and meets their real business needs, said Jerzy Popowicz, Business Development Director, Asseco Poland.

This year's European Utility Week trade fair was devoted to the areas of digitization, the shape of the energy market taking into account the requirements of low emissions and smart grids. The experts emphasized in their speeches, among others, the fact that the power grid must become more intelligent, which requires the implementation of innovative solutions in the field of big data and data analytics, as well as IoT. The energy market should also be more consumer-centred, offering clients new products and digital energy management tools.

The expansion of the IT service system of the hospital in Lębork with new functionalities will streamline the processes related to the hospital's operations, also in terms of legal requirements for keeping electronic medical records, said Robert Marzec, Sales Manager, Asseco Poland.

The implementation of the AMMS system is planned for the first quarter of 2019.

Asseco's new solutions will bring a lot of benefits to the patients, but also to our entire medical unit. We will not only be properly prepared to meet the legal obligation, but we will also streamline processes related to the circulation and exchange of traditional paper documentation with other institutions, through its digitization and introduction to the EDM repository, said Director of COZL Dr. Jerzy Kuliński.

The AMMS system will save time of medical personnel, doctors and administrative staff, as well as patients and COZL's contractors. It will also contribute to the reduction of the amount of office supplies used, thanks to the implementation of a significant part of the procedures in electronic form, said Daniel Pastusiak, Deputy Commercial Director, Asseco Poland.

Additionally, a system will be launched in COZL, which will ensure connection with the Hospital Information System (HIS) from the level of mobile devices through a dedicated application. Asseco will also be responsible for updating and integrating the specialized medical (Cytostatic Laboratory) and administrative (Medical Equipment Register) applications used by the facility with the ERP and InfoMedica administrative systems.

The completion of the implementation is planned for the first quarter of 2019.

***

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader on the market of IT solutions for health care and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centres, health resorts, as well as over 14,000 clinics and surgeries. Asseco successfully passed the Connectathon IHE marathon in The Hague in 2018. This is an official confirmation of Asseco's effective interaction with other IT solutions and their compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

Strategically, one can win the market thanks to costs or a unique value - this is much more difficult because today everyone talks about technologies, so it is necessary to focus on their effective implementation, said Zbigniew Pomianek.

The participants of the panel were also Jarosław Hermann, Member of the Management Board of Bank Millennium; Karol Mazurek, Managing Director - Technology, Client Delivery, Financial Services, Accenture; Jowita Michalska, President of Digital University Foundation and Szymon Wałach, Director of Strategy and Digital Transformation Division and Retail Client Division of PKO Bank Polski.

The ranking covered 50 sectors most frequently appearing in the media, and as many as 500 brands were surveyed. 50 companies received the title of Top Brand 2018.

Full list of winners: topmarka.press.pl

The objective of the Asseco report was to analyze how the largest Polish companies use corporate banking, as well as to try to define the directions in which it will develop. The report covers 3 main subject areas: use of banking services, cooperation with a bank and new technologies in banking. It is based on an opinion poll conducted among the representatives of companies which cooperate with banks or are decision-makers in this area on a daily basis, including chief accountants, financial directors and members of management boards.

Companies expect a bank to provide security and responsiveness

According to the respondents, a bank indisputably has to be safe and react quickly to their needs and inquiries. On a scale of 1-5, both categories were rated at 4.9. It is also important for them whether banks have a comprehensive offer (4.6).

Large companies mean large amounts of funds. It is therefore no surprise that security is the most important attribute of corporate banking. Therefore, the best banking systems which have served business customers for years now definitely stand out from the solutions designed for other customer segments. For example, banking systems offer advanced methods of transaction authorization. The second place was taken by the speed of reaction from a bank. When clients have a problem or need, they expect an immediate response from their financial institution. Therefore, the role of technology is to "watch over" whether a customer's requests are carried out in a timely manner and inform a customer in advance of the steps taken by a bank, said Marta Mróz-Sipiora, Product Manager, Asseco Poland.

Companies have ever-increasing financial needs related to their growth. More than 2/3 of companies see their future not only in Poland, but also abroad. Banks that are able to offer real operational service in many countries will have a significant advantage in the area of servicing companies. This, in turn, means the need to use the right IT structure and global systems, said Sebastian Szaudel, Head of Corporate Banking Department at HSBC Bank Polska.

Innovation important for businesses

For the vast majority of the respondents (82%) innovation is an important or very important attribute of a bank. Nearly 50% of companies rated it as important as security, and for 53% it is at least as important as the speed of response from a bank. On the other hand, almost 70% of respondents assessed the importance of innovation at the same level as the comprehensiveness of the offer.

When implementing innovative solutions, banks must take into account regulatory and data management issues. Modern methods of authentication and authorization of orders are an extremely important element limiting all risks. Undoubtedly, companies appreciate the innovations which allow them to streamline their operations and reduce the financial outlays associated with them. The funds saved in this way may be then invested in further development of a company, said Marek Brańka, Deputy Director of the Commercial Banks Division and Director of the Omnichannel Systems Department, Asseco Poland. When observing the market, it can be assumed that technologies and innovations related to corporate banking will be focused on simplification and optimization of product processes. Therefore, an important role in the future of corporate banking may be played by artificial intelligence, which determines the use of companies' money in banking products, as well as digitalization of processes providing end-to-end services, he added.

Relationship with an advisor priceless

All respondents declared that they have a dedicated advisor or account manager in their main bank. They expect from the advisors, first of all, professional advice and knowledge of a company's specificity. Over 90% of the respondents value the relationship with their advisor - they consider it important or very important.

The survey shows that for almost 60% of the respondents an advisor is as important as the comprehensiveness and price of the service. An advisor is a person who needs to understand clients, their business and the environment in which their operate. It is an advisor who is responsible for matching a banking offer to a client's needs, as well as for timely delivery of the proposed solutions, said Sebastian Worsztynowicz, Corporate Banking Director at HSBC Bank Polska.

It is very important that an advisor has easy access to all information about a client. Therefore, they should have tools that show a client's actions in different channels and the general situation of a company in an aggregated way, e.g. through generated reports. Operational employees appreciate the fact that an advisor is well versed in a company's situation. It is therefore worthwhile for banks to provide their employees with a quick insight into products, accounts, balances and service processes from all contact channels. On the other hand, executives appreciate the advisory skills of their mentor. It would certainly be helpful for them to have reports that will allow them to diagnose the current situation of a client and, for example, to detect alarming signals, added Marcin Kwilosz, Product Manager, Asseco Poland.

E-Signature and electronic document workflow are the most useful

According to corporate clients, e-signature and electronic document workflow are the most desirable and useful among other surveyed solutions. The respondents were interested in automatic placement of cash surpluses based on historical analysis of a company's situation and predictions related to its needs, as well as automatic exchange of currencies based on expected demand and analysis of exchange rate changes. However, in the opinion of the respondents, both solutions require clarification of the form and principles of their functioning.

E-signature and digital document circulation are the needs of companies related to the implementation of a paperless strategy, where traditional handling processes are digitized and become more useful. A customer does not have to fill in the documents and submit them in paper form, and a bank saves time associated with their entry into the systems, proper parameterization and reduces the costs associated with data archiving. Thanks to the use of workflow tools, activities are automated, and thanks to the integration - information goes to the appropriate source systems, said Marta Mróz-Sipiora.

In turn, a dedicated offer, created on the basis of the current situation of a company and the prediction of its future needs, was assessed as an element which should be a standard in corporate banking. It is interesting that video verification, chat/videochat and chatbot are perceived as useless.

The communication between companies and banks is still dominated by a telephone and e-mail. Both channels are able to meet the basic needs for the exchange of information and documentation. However, with the development of technology and the search for cost-effectiveness, new forms of contact should also gain importance, said Sebastian Worsztynowicz.

Companies want better communication with a bank

Majority of representatives of large companies declare that banking services and related processes are fully satisfactory. However, 26% indicated areas that need to be improved. Among this group, the communication with a bank and an advisor was most frequently mentioned (21%). The need for a more flexible approach and a better understanding of a company's specificity was emphasized. The results of the survey confirm the key role of advisors, but they are not the only bank employees with whom contact is made. Therefore, companies are expecting reliable and competent service also from the other representatives of a bank.

The implementation of an omnichannel strategy, which is successfully applied by leading financial institutions, is helpful in achieving this objective. Owing to it, all bank employees have access to the same systems and information, so they are able to provide competent customer service. In turn, customers freely decide which banking service they will use and through which channel of communication. In addition, an activity initiated in one channel is continued in another without any loss of data or quality, said Marcin Kwilosz.

Communication is also related to the need to improve the speed of response from a financial institution (15%). This is a key issue, especially in cases where waiting time for a bank's decision may affect the financial consequences for a company.

This aspect is related to the lack of automation of processes or procedures imposed by law. Many banks are trying to improve their internal processes and procedures by using e.g. RoboticProcess Automation class systems, which automate the most repetitive business processes, said Marcin Kwilosz.

Some respondents (17%) would also like to improve the electronic banking they use. The main problems they point to are lack of transparency, lack of intuitive operation, technical issues and outdated systems.

Full results of the Asseco's "Corporate Banking now and in the future" report are available at:

abp.asseco.com or ebp.asseco.com

***

About the report

The report "Corporate Banking today and in the future" is based on an opinion poll conducted by an external research company with the help of telephone interviews (CATI). The survey included 257 interviews with companies employing at least 200 people and with a turnover of at least PLN 30 million in the previous year. The respondents were persons directly cooperating with banks, the so-called operational level (chief accountants, finance directors, etc.) and managing persons, the so-called c-levels (presidents, vice-presidents, management board members). The analysis was prepared on the basis of quantitative methods. Where possible, in the course of the survey, in-depth qualitative information was also obtained to complement the quantitative indicators.

About Asseco Poland

Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth largest producer of software in Europe. It leads international Asseco Group, which operates in 53 countries and employs over 24,000 people. Creation of IT solutions for banks is one of the key areas of Asseco's business, which offers, among others, central banking systems, as well as omnichannel and mobile solutions which respond to the latest trends in global banking. Owing to the acquired experience and competence, Asseco has implemented its IT solutions (core banking engine) in over 800 banks.

About HSBC Bank Polska

HSBC Bank Polska S.A. is a Polish registered company belonging to the HSBC Group. The HSBC Group is the largest financial institution in Europe, operating on the markets which are Poland's main trading partners (e.g. Germany, France, Great Britain, Italy, the Czech Republic) and one of the largest financial institutions in the world. HSBC Bank Polska S.A. focuses on providing banking services to corporate and institutional customers and treasury operations. HSBC Bank Polska S.A., through its head office located in Warsaw, regional corporate banking centers in Katowice, Poznań and Gdańsk, and a business services centre in Kraków, supports Polish companies in their international expansion and foreign investors in their operations in Poland.

The system offers many advantages for patients because it will support electronic registration to clinics, outpatient clinics and hospital wards. It will also make it possible to receive medical results via the Internet. Actually, owing to the solution, we will completely eliminate paper documents, said Paweł Chodyniak, President of the District Healthcare Centre in Malbork.

It will also be a great convenience for tourists who visit Malbork and Nowy Dwór County, when they need to go to our hospitals. Thanks to the new system, in the future, for example it will be possible to obtain results and information about a patient from the south of Poland, said Mirosław Czapla, President of the Malbork County.

The system which we will implement will significantly shorten the time patients have to wait for registration with a selected doctor and will make it easier for them to access test results. It will also improve communication between health units coordinated by PCZ. In addition, medical personnel will gain a convenient tool for administrative support of their cases, thanks to a special HR module, said Robert Marzec, Sales Manager, Asseco Poland.

The planned implementation of AMMS is foreseen for early 2019. Additionally, Asseco will supply mMedica system for patient service at the Addiction Prevention and Therapy Centre in Malbork, which is the partner of PCZ in the implementation of the computerization project.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader on the market of IT solutions for health care and a manufacturer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centres, health resorts, as well as over 14,000 clinics and surgeries. Asseco has successfully passed tests during the Connectathon IHE marathon in The Hague in 2018, which is an official confirmation of Asseco's effective interaction with other IT solutions and their compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

Asseco ABP has been developed with a view to streamline work in bank branches. Thanks to the omni-channel architecture, advisors can support customers regardless of whether the process was initiated by the customer via internet banking, mobile banking, a contact centre or a branch. This saves time and optimizes banking processes. In my opinion, the award is a confirmation of the effectiveness of our solution and a recommendation for banks which want to take an active part in the digital transformation of the financial sector, said Marcin Kwilosz.

Global Finance Magazine is published in 189 countries. Its readers are mainly people making strategic decisions in international companies and financial institutions.

More information about Asseco ABP

Video about Asseco ABP

The solution will significantly reduce the number of errors and speed up the circulation of documentation. After the introduction of this system, we will immediately know what is happening in the hospital. Currently, we can wait even a month and a half for data from individual departments, said Jarosław Pawlik, Director of the District Hospital in Kozienice.

The choice of our offer means further cooperation between the hospital and Asseco. The system we offer is the most modern on the Polish market. It will provide the facility with full informatization, which will significantly improve its work, owing to which medical personnel and doctors will be able to devote more time to their patients, said Maciej Pykosz, Sales Director, Asseco Poland.

The contract will be executed within a consortium with Technet, which will provide the necessary infrastructure. The contract value exceeds PLN 5.6 million. It is planned to be completed by mid-2019.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth largest software producer in Europe. It is a leader on the market of IT solutions for health care and a developer of proprietary IT solutions used by over 450 hospitals in Poland, units of the National Health Fund, Blood Donation and Blood Treatment Centres, health resorts, as well as over 14,000 clinics and surgeries. Asseco's software was successfully tested during the Connectathon IHE marathon in The Hague in 2018, which is an official confirmation of Asseco's effective interaction with other IT solutions and their compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Information Systems (CSIOZ).

Today, the Asseco Group is strong in many countries with its products. This proves that a Polish company can meet the requirements of customers, despite the competition from richer, more developed economies. Our banking team is unique in terms of knowledge and experience. It is a result of what we have been building in recent years - a strong position in Europe, he said.

The panel discussion was preceded by a presentation by Michael Harding of Oliver Wyman, an international consulting firm, who spoke about what factors need to be taken into account in order to create a new bank and how its business models can be changed.

Technology triggers changes and makes suppliers create products that meet customer expectations. It is important to be able to anticipate the needs that customers may have in the future, said Michael Harding.

The first debate - "New channels. New products. Should a bank sell pizza?" - was attended by Piotr Czarnecki, President of the Management Board of Raiffeisen Bank Polska; Adam Marciniak, Vice-President of the Management Board of PKO Bank Polski; Zbigniew Pomianek, Vice-President of the Management Board of Asseco Poland; Feliks Szyszkowiak, Vice-President of the Management Board of Santander Bank Polska and Mariusz Wójcik, Member of the Management Board, AXA Życie TU, AXA TUiR.

A technological challenge is to change the business model of a bank and the need for access to data. It is becoming increasingly more difficult to create a ready-made offer without data. If we have an idea for a solution, it is necessary to have a place to verify it. In order to compete on the market you have to have a personalized offer. It is very difficult without advanced analytical technologies, said Zbigniew Pomianek.

Banking will develop in the direction of artificial intelligence, especially in China and the United States, said Adam Marciniak.

The most important thing is to find a real answer to real needs of the client, added Feliks Szyszkowiak.

In turn, Tomasz Buczak, Head of Asseco Innovation Hub at Asseco Poland, spoke about how technology can help banks with keeping up with customers' expectations and coming up with right personalized offer in the right time.

According to Kantar TNS, 74% of customers trust banks, trust that their money is safe. 'A bank as fast as you' is one that can understand the customer's needs and offer the right products for the client, he added.

The second expert panel focused on the question "Will new business models solve the problem of margins and loyalty of bank customers and how can technology help in this?". The debate was attended by: Tomasz Dymowski, Head of Retail Banking Department, Raiffeisen Bank Polska; Tomasz Motyl, banking sector expert; Dariusz Paczewski, Director of Digital Innovations Office, Santander Bank Polska; Aleksandra Sroka-Krzyżak, Head of Strategy and Projects, PKO Bank Polski and Jarosław Bryl, Director of Business Intelligence Division, Asseco Poland.
The world finds artificial intelligence fascinating, so maybe it is enough to recognize the customer's needs and adjust the offer and almost automatically deliver it? Then margins will be good and costs will fall, said Jarosław Bryl.

The use of artificial intelligence in communication with customers reduces costs for banks, and brings added value for the customer, said Aleksandra Sroka-Krzyżak.

Data are the starting point for the development of solutions based on artificial intelligence. To be able to use them we have to be able to arrange them in a logical sequence, said Tomasz Motyl.

We face the problem of margins on a daily basis. What should we do to make our profits grow? First of all, reduce costs and build new sources of revenues, said Dariusz Paczewski.

"How will artificial intelligence affect our future?", Wojciech Sobieraj, visionary and experienced manager on the banking sector, tried to answer this question during his presentation.

Artificial intelligence is artificial. It is wise when it can learn. The more data, the more benefits we will have. The more people use Google Maps, for example, the more precise the data and information, he said.

At the end of the forum the participants could also learn more about the implementation of the trust services platform in Santander Bank Polska and the factoring services platform operating in Bank Pekao. These solutions were presented by Marek Kleczewski, Senior Innovation Designer, Santander Bank Polska and Piotr Karwiński, Director of Transaction Banking Department at Pekao.

We try to be the first choice bank for our clients, we want to be perceived as a local bank, but associated with modernity. We were looking for solutions in many areas that could be upgraded. One of them was the transfer of the processes using paper and the client's own signature into the electronic sphere, said Marek Kleczewski.

The factoring services platform is a solution that opens a bank to new customers. Thanks to the use of Asseco's systems we have created a unique solution on the market, said Piotr Karwiński.

We always emphasize that local awards are the most important for us. Despite the fact that Asseco is today a global company operating in 54 countries all over the world, it should be emphasized that its history began here, in Rzeszów, where our headquarters are located. We are proud to take an active part in the development of this region, said Paweł Florczak.

As part of the Golden Hundred, Asseco was also one of the largest companies in the Podkarpacie region as well as companies with the highest employment in the region.

The Golden Hundred is a ranking organized by Polska Press, the publisher of the Codzienne Nowiny newspaper, in cooperation with the Małopolska Economic Institute and the Polish Economic Society. This year, the 12th edition of this plebiscite was held, as part of which special prizes were awarded on the occasion of the 100th anniversary of regaining independence by Poland.

FTSE Russell indices serve as a benchmark for leading global investment funds. The classification results in moving companies from FTSE indices of Emerging Markets to FTSE indices of Developed Markets.

The list of 37 Polish companies to be included in the Developed Market indices was published on 25 August 2018. According to FTSE Russell size category, Asseco Poland was included into the group of small cap companies.

Asseco's new solution is used in practically all sectors of the economy, i.e. wherever services and products are sold. Social media, activities on websites, or through mobile applications are a valuable source of information about customer behavior. They can be used successfully to plan marketing campaigns and to support sales processes. With ACI, we can see what customers are looking for, what they buy, when they buy and how they do it, and modern companies have to keep up with the ever-increasing expectations of consumers. With our solution, reaching that goal  is much easier and faster, said Jarosław Bryl, Director of Business Intelligence Division, Asseco Poland.

Asseco Customer Intelligence allows companies to create profiled commercial offers based on their customers' purchase habits and needs, as well as to adjust the communication channels to client preferences, among others. It is worth mentioning that the solution is supported by machine training mechanisms based on analytical models. It has information about products and marketing content and is integrated with advertising providers' systems. All this makes it possible to quickly verify customer behaviour. As a result, the system allows for proper preparation of the offer, said Miłosz Posyłek, Director of the Analytical Systems Department, Asseco Poland.

ACI can be used by banks, insurance companies, as well as online shops. Thanks to its open architecture, it can be quickly integrated with the systems already operating in a given company. In the case of the banking sector, ACI can function with solutions supporting customer communication, such as Asseco Advisory Banking Platform, Asseco Customer Banking Platform, and Asseco Enterprise Banking Platform. It may also be integrated with the fraud detection system - Asseco Anti-Fraud.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth-largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. For over 25 years it has been developing technologically advanced software for companies from key sectors for the economy.

Asseco Poland is a recognized provider of Business Intelligence solutions on the Polish market with over 20 years of experience in their development and implementation. Over 50% of banks in Poland and South-Eastern Europe use BI solutions implemented by Asseco. The company offers both finished products and those designed from scratch based on the requirements of specific customers.



1 Source – magazynit.pl

AMMS is fully ready to connect to the central prescription recording system within the P1 platform. Before we started to implement the solution in the selected facilities, it had successfully passed a number of scenarios in a test environment made available by the Centre for Health Care Information Systems, said Krzysztof Groyecki, Vice President of the Management Board of Asseco Poland.

Ultimately, after an e-Prescription is issued by a physician, a patient will receive an information print containing a barcode. If a patient opens an Individual Patient Account (IKP), he will receive a special PIN code, which in combination with the PESEL number will allow him to collect medicines in a pharmacy. Thanks to the use of a web application, the handling of e-Prescriptions can be performed efficiently and without unnecessary printouts.

From January 1, 2020, in accordance with the assumptions of the Ministry of Health, e-Prescriptions will be issued in every medical office in Poland. Their introduction will allow, among other things, to eliminate the problem resulting from incorrect handwriting reading and will increase patient safety by limiting the possibility of dispensing a wrong medicine. It will also offer access to the history of issued prescriptions, which will improve coordination of the treatment process.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE). For 25 years it has been creating technologically advanced software for companies and institutions from key sectors of the economy. It is currently the largest IT company in Central Europe and the sixth-largest software producer in Europe. It is a leader in the market of IT solutions for the healthcare sector and a producer of proprietary IT solutions used by over 450 hospitals in Poland, the units of the National Health Fund, Blood Donation and Haemotherapy Centres, health resorts, as well as over 14,000 clinics and physicians' surgeries. Asseco's software was successfully tested during the Connectathon IHE marathon in the Hague in 2018, which officially confirms the proper interaction of Asseco's systems with other IT solutions and their compatibility with IHE integration profiles. The use of IHE profiles is recommended by the European Commission and the Centre for Health Care Information Systems (CSIOZ).

The implementation will be completed by 2021 and will cover the migration of GIS geographic data, as well as the implementation of the systems of Asseco LIDS and Asseco SAMO. The open architecture of both solutions will enable Stromnetz Hamburg to further develop and integrate with additional modules.

Stromnetz Hamburg in numbers:
1.15 million energy consumers connected with the grid
28,997 km network lenght with capacity of 12.3 TWh/year
91 positions with current switchboards
115 transformers
54 transformer units
633 grid and client stations
318,580 household connections

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Stromnetz Hamburg GmbH
Stromnetz Hamburg is the second-largest operator of the municipal distribution grid in Germany and has been a reliable energy supplier for more than 120 years in the Free and Hanseatic City of Hamburg. Around 1,200 employees supply electricity to 1.1 million low-voltage and 2,234 medium-high-voltage consumers on a daily basis. The basic activity of the distribution system operator is the provision of the power grid to the city, as well as its operation, control, monitoring, maintenance and further development. Its main tasks also include the supervision of emerging disruptions and the use and management of infrastructure.

Asseco
One of the largest providers of software in Europe (TOP-6) and the largest provider of IT solutions in Central and Eastern Europe. For over 25 years the company has been developing technologically advanced IT solutions for all key sectors of the economy.
Asseco BERIT is a company from the Asseco Group and a competence center engaged in the provision of geographic information systems, mobile workforce and asset management, as well as solutions for the utility, public administration, and industrial sectors in Germany, Austria and neighbouring countries.

We achieved very good results in the first half of the year - the sales of the Asseco Group increased in all sectors and business segments. The Group's adjusted operating profit, which strips out the negative impact of additional amortization of intangible assets recognized in connection with regaining control over Formula Systems, increased by 34% versus the corresponding period of the previous year. Such positive results were achieved thanks to a very good situation in the banking sector, in which we carried out new orders to support adaptation to key changes in the law. Additionally, the Group's companies were performing more international implementations. The revenues increased in all of our business segments. We are particularly pleased with Asseco International, which achieved double-digit sales growth, and the companies comprising the holding have promising growth prospects, said Rafał Kozłowski, Vice President of the Management Board of Asseco Poland.

The Asseco Group's sales revenues are diversified between sectors - the general business sector accounts for 40% of total revenues, the banking and finance sector - for 39% and the public administration sector - for 21%. The Group is also geographically diversified and presents its results broken down by three segments: Asseco Poland (the Polish market), the Formula Systems Group (the Israeli market), and Asseco International (other international markets).

In Asseco Poland's segment, the sales revenues increased by 7% to PLN 668 million. The operating profit improved significantly, as it went up by 69% on annual basis to PLN 120.5 million. These results were mostly influenced by Asseco Poland, which performed particularly well in the banking and finance sector. The public administration sector also saw a recovery.

The Group's Israeli companies also had a good quarter. The revenues of Formula Systems increased by 3.0% on annual basis to PLN 2.6 billion. Sapiens increased its sales and profitability. In the first half of 2018, the companies from the Formula Systems Group bought new companies in the US: Adaptik, Alius Corp and PVBS. Adaptik offers software for the insurance sector, specializing in property insurance solutions. Alius Corp provides IT services in the area of regulatory compliance and security to financial entities in the US market. PVBS LLC deals, among other things, with the implementation and integration of ERP systems for governmental entities or entities providing services to the state, operating onthe American market.

During the past 6 months, Asseco International, which is responsible for other international markets, increased its revenues by 16% to PLN 1.2 billion. Organic growth was supported by last year's acquisitions of Slovakian CEIT and Polish Macrologic. Additionally, in the second quarter Asseco International acquired a 66% stake in DWC Slovakia - a provider of document management software. The Asseco Group takes advantage of the significant growth in demand for ERP solutions in its region. It also develops its offering of advanced products for the industrial, banking, finance, and health sectors.

We encourage all people who would like to work on interesting projects in the largest IT company in Poland to keep track of the job ads published on our website. We are especially looking for programmers, analysts and software testers, said Bożena Knitter, Director of the Production Department of the Power and Gas Division, Asseco Poland.

Asseco occupies three floors of the Arkada Business Park complex with a total area of over 3,000 m2, where comfortable office rooms, conference rooms and chillout zones have been built.

In the underground car park there are also facilities for cyclists, such as racks, changing rooms and showers, which will certainly affect the comfort of work in our office. It is worth noting that our new office is located in a very good location when it comes to public transport and not far from the airport and the railway station. The Bydgoszcz Agglomeration Bike stop is also located right next to the office, said Jacek Tomkiewicz, Director of the Administration Department, Asseco Poland.

The office building is equipped with modern water, energy and CO2 reduction management systems, as well as two independent power sources and a generator.

The Asseco Group has been present in Bydgoszcz not only through the operations of Asseco Poland. Also the Social Benefits Division of Asseco Data Systems has its seat in the city, which originates from Przedsiębiorstwo Informatyki ZETO Bydgoszcz. It specializes in creating IT solutions for the Social Insurance Institution (ZUS) and the Farmers' Social Security Fund (KRUS). Asseco Data Systems also supports sports in Bydgoszcz, as the sponsor of Klub Sportowy PAŁAC Bydgoszcz's female volleyball team.

System is built based on modern micro-services architecture and for GUI unique mechanism of mini-applications is used, which allows users to customize view of personal dashboard themselves as well as for bank staff – to implement and launch new services for clients more quickly reducing “time to market”.

Within the implementation project e-banking solution was integrated with core-banking system Colvir, card processing center UFC and payment system UCC in online mode to support clients with the most actual accounts’ data and instant transactions execution. The security of system access and payments is guaranteed by compliance with international standards of two-factor user authentication.

The next phase of solution development will be corporate clients connecting to the e-banking platform. Thanks to Asseco CBP flexibility it would be done in the shortest time span by adding new mini-applications to the current running installation and user segmentation.

 

Nowadays financial services channels digitalization is being the key factor for bank development. And today together with Asseco Group we are pleased to offer our clients service satisfying the highest quality standards, available in 24/7 mode – mentioned Shota Chkoidze, Deputy of CEO, Halyk Bank Georgia.

The Asseco Group provides software and services to banks in more than 30 countries. We have competence centers in Poland, Slovakia, Russia, as well as in the Balkans and Israel. The agreement with Halyk Bank Georgia is another step that strengthens the international position of our Group. It is also a good example of the fact that Polish IT products are appreciated and meet the high demands of the banks operating across Georgia – said Zbigniew Pomianek, Vice President of the Management Board of Asseco Poland.

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Halyk Bank Georgia
The daughter company of JSC Halyk Bank — the largest universal commercial bank of Kazakhstan, which has been operating successfully so far for the benefit of its clients more than 95 years. The bank has been operating at the financial market of Georgia since 2008 and today offers wide range of bank services to its customers: retail and business loans, payment cards, payment-cash service, money transfers, remote banking services and other.

Asseco
One of the largest software vendors in Europe (TOP-6), and number one provider of IT solutions in Central and Eastern Europe. The company has developed technologically advanced software solutions for all key sectors of the economy for more than 25 years. Asseco is presented in 54 countries worldwide and employ over 24 000 people. In Georgia group is presented by Asseco Georgia located in Tbilisi.

More information on Asseco CBP: cbp.asseco.com

The launch of the training centre is the first stage of the project in Nigeria. The official opening was attended by a representative of the Ministry of Science and Technology of the Lagos State - Commissioner Hakeem Popoola Fahm and Simon Melchior, CEO of Asseco Nigeria. In turn, Asseco Poland was represented by Mr. Zdzisław Wiater, Director of the Security Sector Solutions and International Institutions Divisions of Asseco Poland and Tomasz Mosiej, Chief Architect of Unmanned Systems. During the visit to Nigeria, a meeting was also held with the representatives of the Nigerian Airspace Management Agency and the Nigerian Civil Aviation Authority to discuss the future operation of the unmanned aerial vehicles in the airspace of Nigeria.

The training centre developed by Asseco in Lagos is the first investment of its kind in the region and one of the first in Africa. Ultimately, it will train about 100 people per year. The scope of training will include the operation and use of multirotor platforms and airframes, as well as software support for building a digital terrain model. The workshops will be conducted by experts from Asseco Poland and Asseco Nigeria, said Zdzisław Wiater.

As part of the planned next stage of the project, Asseco will provide unmanned vehicles to perform long-distance photogrammetric missions over the Lagos State. The solution will also consist of two control stations - Asseco Ground Control Station (Asseco GCS) with software and the Asseco Universal Simulation Environment (Asseco USE), which is a flight simulation system. Asseco will also train the operators and conduct tests of the system operation.

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Asseco Poland is the largest Polish IT company listed on the WSE and the 6th largest software developer in Europe. It has been providing companies and institutions with advanced products and services for over 25 years. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. Asseco is a recognized provider of solutions for Polish uniformed services and has been increasingly active in the defense sector. The Company has gained its experience in carrying out projects for various clients, including the Ministry of the National Defense, NATO (eg. NATO Compiter Incident Response Capability) and Frontex. It uses the experience gained in projects implemented for international institutions in tenders resulting from the program of modernization of the Armed Forces of the Republic of Poland, such as: command system, image analysis system, micro and mini unmanned systems and information security systems.

Signing another agreement with the Chief Inspectorate of Road Transport is an expression of trust and a confirmation that we are very well prepared not only to develop systems that improve safety on Polish roads, but also to take care of their on-going and proper functioning, said Piotr Sitek, Deputy Director of the Public Administration Division, Asseco Poland.

The Central Processing System, developed by Asseco, was launched in June 2014. The project was co-financed by the European Regional Development Fund.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000. Asseco is the largest producer of software for the public sector in Poland. The company has developed and implemented comprehensive systems for the Social Insurance Institution (ZUS), the Ministry of Interior and Administration, the Ministry of National Education, the Supreme Chamber of Control (NIK), the Central Statistical Office (GUS), the Agricultural Social Insurance Fund (KRUS), the Agricultural Property Agency (ANR) and the Institute of Meteorology and Water Management (IMiGW), among others. In addition, for many years Asseco has been a trusted partner for the power industry, telecommunication and healthcare sectors as well as uniformed services and local governments.

Currently, customers expect from their bank something more than just a favorable commercial offer. It is important to offer them services that enable them to process their financial documents in a comfortable, quick and, what is most important, secure manner. The Asseco's platform will support factoring services provided to existing clients and will also help us attract new customers,  said Piotr Karwiński, Director of the Transaction Banking Department at Bank Pekao S.A.

Thanks to the experience gained during the implementation of solutions based on the omnichannel platform, we were able to offer our client a comprehensive solution for handling trade financing products. We have developed all of its functionalities specifically for this project. It is worth noting that the platform has been built in accordance with the "user-centered design" approach, i.e. in such a way as to meet the needs of the end user, said Maciej Przybyła, Deputy Director of the Commercial Banks Division and the Director of the Services Department at Asseco Poland.

The implementation is expected to be completed by the end of the first quarter of 2019.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. Software development for banks is one of the key areas of operations of Asseco Poland - the company offers solutions that follow the latest trends in global banking. Thanks to its experience and competencies, Asseco has implemented proprietary IT solutions (core banking engine) in over 800 banks.

The previous agreement was signed with three contractors. Despite the fact that each of these three companies applied for the execution of development orders, in about 80% of modifications Asseco submitted the best offers. This shows that we are well prepared to implement even the most demanding projects, such as the introduction of the e-Contribution or the modification of KSI ZUS resulting from the lowering of the retirement age. In recent years, we have proved that we are a trusted partner and that we take full responsibility for our tasks, said Arkadiusz Wójcik, Director of the Social Insurance Division, Asseco Poland.

In the tender for the modification and development of KSI ZUS, two offers have been submitted, including one made by Asseco Poland. ZUS has decided to select both bidders. They will compete for the implementation of the projects within the limits of the contract's budget.

Asseco has also signed an agreement for the modification of KSI ZUS in connection with shortening the period of storing employee files and their digitization, as well as for optimization changes in the "Płatnik" ("Payer") program, which will be carried out in two stages for the next 12 months.

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Asseco Poland is the largest Polish IT company listed on the Warsaw Stock Exchange (WSE) and the sixth-largest producer of software in Europe. It leads international Asseco Group, which operates in 54 countries and employs over 24,000 people. Asseco is the largest producer of software for the public sector in Poland. The company has built and implemented comprehensive systems for, among others, the Social Insurance Institution (ZUS), the Ministry of Interior and Administration, the Ministry of National Education, the Supreme Chamber of Control (NIK), the Central Statistical Office (GUS), the Agricultural Social Insurance Fund (KRUS), the Agricultural Property Agency (ANR) and the Institute of Meteorology and Water Management (IMiGW). Additionally, for many years Asseco has been a trusted partner for the energy, telecommunication and healthcare sectors as well as for uniformed services and local governments.

Asseco is not only a leading provider of software for the banks in Poland but also it consistently marks up its presence on the foreign markets. Our original systems are being implemented in Austria, the Czech Republic, Georgia, Nigeria and Vietnam among others. The collaboration with IBM is one of the paths to strengthen our international recognition in the financial sector. The established cooperation has resulted in a mutual offer and realization of the first projects with example of setting up a Golden Sand Bank last year and starting works over its expansion in Germany. The Golden Sand Bank's banking systems use IBM infrastructure and services and the Asseco business software – said Zbigniew Pomianek, Vice President of Asseco Poland Management Board.

This is another milestone of Golden Sand Bank, an online wealth management project, which was launched last year. As the fintech business model requires an agile approach with no upfront investment, and in order to build the foundation for its new business, Golden Sand Bank chose IBM to deploy together with Asseco a cloud-based “bank-in-a-box” solution developed by teams from IBM Services. The solution employs the IBM Cloud hybrid platform for the banking solution along with services based on IBM data centers in Poland.

The Bank-in-a-Box solution allows for setting up a bank in 6 months only. It greatly reduces the implementation costs and lowers the financial loss risk. The solution supports regular changes and provides for continuing the development with new services – said Artur Wróblewski, Global Technology Services, Leader, IBM Polska.

Asseco Poland is the biggest Polish IT company floated on the Warsaw Stock Exchange and the sixth software producer in Europe. It leads the international Asseco Group that is operating in 54 states with workforce of over 24 thousand people. Creating software for banks is one of the key areas of Asseco Poland's activity; the company offers solutions that correspond with the latest trends of the world baking. Thanks to the gained experience and competences, Asseco has implemented its IT solutions (core baking engine) in over 800 banks.

This agreement is a continuation of our more than 20 years of cooperation with the Agricultural Social Insurance Fund.  Extensive experience in supporting the statutory tasks of the Fund will allow us to effectively coordinate such a complex project. Apart from maintenance, service and updating of the system, we are also responsible for operation of two independent computing centers, coordination of external audits, analytical work, tests, as well as regular consultations and training, says Lech Szczuka, Vice President of the Management Board of Asseco Data Systems SA, who is also the Head of the Agricultural Insurance Division at Asseco Poland.

The project will be implemented by Asseco Data Systems in consortium with Asseco Poland, which will be primarily responsible for managing the database. Asseco Poland is the author of the Workflow system used by the Agricultural Social Insurance Fund and will be responsible for communication of the nSIU system with systems of external institutions.

The nSIU program was written in the JAVA EE technology and is supported on the basis of the outsourcing cooperation model. Data processing is performed in two computing centers of Asseco Data Systems with simultaneous data replication to the backup center. The system has been functioning in the Agricultural Social Insurance Fund since 2015 and supports more than 50 million user queries per month.

The agreement with the Agricultural Social Insurance Fund provides for the system to be updated on an ongoing basis and adapted to new organizational and legal requirements. In addition to maintaining the system, Asseco Data System also provides technical support and end-user support.

Data for 2017 were taken into account.