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Asseco SEE SAAsseco SEE IT posts PLN 58.3 mln net profit in Q4 2024, in line with estimates
Listed IT group Asseco South Eastern Europe posted PLN 58.3 million (EUR 14.1 mln) attributable net profit in the fourth quarter of 2024, up from PLN 45.4 million (EUR 11 mln) in the prior year period, the company said in its consolidated financial report. The sales revenue amounted to PLN 498.7 million (EUR 120.5 mln), against PLN 488.6 million (EUR 118.05 mln) in the fourth quarter of 2023. The results are in line with earlier estimates.
Operating profit in the fourth quarter of 2024 was PLN 72.2 million (EUR 17.44 mln) and EBITDA was PLN 98 million (EUR 23.7 mln). In the prior year period, Asseco SEE had an operating profit of PLN 61.2 million (EUR 14.8 mln) and EBITDA of PLN 83 million (EUR 20.05 mln).
The company said that the difference in the growth rate between revenues and subsequent margin levels is a result of a change in the revenue structure, in which revenues from the resale of hardware and third-party solutions decreased, while revenues from the implementation of own services and the sale of own software increased.
Revenue rose by 5 percent or EUR 5.1 million year on year to EUR 115.7 million. Operating profit reached EUR 16.8 million and EBITDA EUR 22.7 million after an increase of 21 percent.
For the full year 2024, the net profit of Asseco SEE's parent company amounted to PLN 199.2 million (EUR 48.13 mln), which was at a comparable year-on-year level, and total revenues reached PLN 1.71 billion (EUR 413.14 mln), up by 4 percent year on year.
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