Asseco BS IT sees good prospects for H2

Listed IT firm Asseco Business Solutions, Asseco's unit, assesses the prospects for the second half of 2024 well, after recording an "excellent" first half's results, the company's board member Mariusz Lizon told a press conference on Friday.

"The first half of the year was excellent for us. Of course, we would like to maintain these dynamics, but we don't know if we will succeed. For now, the first two quarters are building optimism in us," Lizon said behind the scenes of the company's press conference on Friday.

"We were a bit concerned about the postponement of the KSeF launch date because we had to invest a lot in it, while the environment we are now seeing from the middle of the year makes us optimistic," he added.

In the first half of 2024, the Asseco BS group's revenues increased by 14 percent year on year to PLN 201.3 million (EUR 46.9 mln). In Poland alone, revenues increased by 15.8 percent to PLN 177.6 million (EUR 41.4 mln).

"91 percent of our revenues come from the enterprise segment. They show no signs of a downturn, there is no sense that any negative trend has started," the board member assessed.

In the first half of the year, EBITDA of the Asseco BS group rose by 13.4 percent to PLN 72.4 million (EUR 16.9 mln), operating profit improved by 13.9 percent to PLN 52.7 million (EUR 12.3 mln), and net profit increased by 18.4 percent to PLN 47.1 million (EUR 11 mln).

In the second quarter alone, Asseco BS's revenue increased by 16 percent to PLN 101.5 million (EUR 23.7 mln), EBITDA rose by 14.1 percent to PLN 36 million (EUR 8.4 mln), EBIT increased by 14.8 percent to PLN 26 million (EUR 6 mln), and net profit went up by 18.6 percent to reach PLN 23.1 million (EUR 5.4 mln).

Asseco BS's backlog for 2024 is PLN 348.3 million (EUR 82.1 mln), representing 91.4 percent of sales for 2023.

By comparison, at this time last year, the backlog reached PLN 301.1 million (EUR 70.2 mln) or 88.0 percent of 2022 sales.

pr/ ao/