Asseco group reports 400 million EUR in revenues and 42 million EUR in operating profit for the first quarter of 2015
Asseco group reports 400 million EUR in revenues and 42 million EUR in operating profit for the first quarter of 2015. On 13 May 2015, Asseco Group published its financial results for the first quarter of 2015. Sales revenues reached 400 million EUR, growing by 13 percent compared to the corresponding period of 2014. Revenues from proprietary software and services improved by 16 percent to reach 330 million EUR. Operating profit amounted to 42 million EUR, while net profit attributable to shareholders of the parent company was 20 million EUR.
Sales of Asseco Group’s proprietary software solutions continue to grow, accounting for as much as 83 percent of total revenue in the first quarter of 2015. The Group’s revenue is diversified into the following sectors: general business – 44 %, banking and finance – 35%, public institutions – 21%. In the first three months of 2015, the share of foreign operations in the revenue structure increased to 78 percent and amounted to 310 million EUR. During the reporting period, Asseco Group signed 1,995 contracts.
Such a high level of sales in the first quarter of 2015 resulted from stronger revenue achieved across all the key markets where the Group companies operate. In Poland, we continued or completed the implementation of significant contracts for, among others, PKO Bank Polski, Bank Ochrony Środowiska, Orange Poland, Agency for Restructuring and Modernization of Agriculture (ARiMR), and Agricultural Social Insurance Fund (KRUS). A considerable contribution to the Group’s results was provided by our Israeli companies, which maintained a dynamic revenue growth while managing to improve their profit margins. In the first three months of 2015, these companies generated 220 million EUR in sales, recording a 28 percent increase over last year’s figures. In Central Europe, a substantial growth was achieved in Slovakia, helping to compensate for the prevailing stagnation in the Czech Republic. Our South Eastern European companies expanded their operations in the sectors of banking and payment solutions. They generated 25 million EUR in revenue and improved their profitability by selling more proprietary solutions. In the Western European market, we recorded a 10 percent growth on the back of higher revenue in Spain and in Germany. We also observed some promising business development in the Eastern Europe region, where our sales increased by 11 percent year on year.