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Asseco BS SAAsseco BS IT posts PLN 28.4 mln net profit in Q1 2025, above expectations
Listed IT group's unit, Asseco Business Solutions, posted PLN 28.4 million (EUR 6.65 mln) of attributable net profit in the first quarter of 2025, above the market expectations. with EBITDA amounting to PLN 40 million (EUR 9.4 mln).
"The increase in revenue is due to improved sales of Asseco Business Solutions own products both in the domestic and foreign markets," the company said in its quarterly financial report.
Operating expenses (excluding COGS) were reported to have increased by 7.7 percent over the same period, while the value of resold third-party goods and services (COGS) fell by 12.5 percent, which had an impact on the increase in EBIT profitability.
Employee benefits (primarily salaries and wages) accounted for the largest share of operating expenses, 71.4 percent.
The EBITDA margin in the first quarter of 2025 was 37.0 percent, up 0.5 percentage points on the comparable period. The net profit margin in the first quarter of 2025 was 26.3 percent and increased by 2.2 percentage points from the comparable period.
Below are the Asseco BS results for the first quarter of 2025 against the PAP Biznes consensus:
| 1Q2025 | results | consensus | difference | y/y | q/q |
| Revenues | 108 | 109.1 | -1.00% | 8.00% | -14.20% |
| EBITDA | 40 | 39.4 | 1.70% | 10.00% | -21.30% |
| EBIT | 30.2 | 29.2 | 3.60% | 13.00% | -25.70% |
| Attrib. net profit | 28.4 | 26.2 | 8.30% | 18% | -29.40% |
| EBITDA margin | 37.00% | 36.10% | 0.97 | 0.57 | -3.32 |
| EBIT margin | 28.00% | 26.70% | 1.25 | 1.26 | -4.31 |
| net margin | 26.30% | 24.00% | 2.26 | 2.22 | -5.66 |
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