Asseco Poland optimistic about H2 2024

Listed IT group Asseco Poland is optimistic about the second half of the year, company representatives told a press conference. The group is recording dynamic growth in the financial sector and the public sector. Asseco Poland's attributable net profit in the second quarter of 2024 amounted to PLN 110 million (EUR 25.6 mln), down from PLN 122.3 million (EUR 28.5 mln) in the prior year period.

"We are consistently pursuing our M&A strategy, with more companies joining our group - 7 companies have joined since the beginning of the year," said the group's deputy CEO Marek Panek.

"We are optimistic about the second half of the year, especially considering our backlog," he added.

Asseco's consolidated order backlog for 2024, in the area of software and proprietary services, is currently worth PLN 12.4 billion (EUR 2.9 bln). At the constant exchange rates in which the backlog for 2023 was converted, it is 7 percent higher year on year.

Since the beginning of 2024, seven companies have joined the group (three in the first half of the year and four in the third quarter), operating in the Israeli, US and Portuguese markets, as well as India and the United Arab Emirates.

"It is worth highlighting the acquisition in the Payten group, the payments one, where we are entering new markets, i.e. India, Saudi Arabia. We are pinning some hopes on this, as these are dynamically growing markets," Panek said.

It was reported that the company's revenues by product group in the first half of 2024 were as follows: 32 percent solutions for finance, 20 percent solutions for public institutions, 9 percent ERP solutions, 17 percent other IT solutions, 22 percent infrastructure and others.

According to the company, sales revenues in the Asseco Poland segment increased by 2 percent year on year in the first half of the year and amounted to PLN 992 million (EUR 231 mln).

"In particular, we emphasise the very good and dynamic growth in the financial sector and the public sector - these are the two workhorses in the first half of the year in the area of Poland," the deputy CEO said.

alk/ ao/ nl/