Poland-based ICT specialist Asseco Group, which operates in Europe, Israel, the US, Japan and Canada, has posted a 13% year-on-year growth in sales revenue in the Q1 2015. Such results were driven by a positive trend across all key markets in which the group conducts its business, it says.
However, the net profit in Q1 which stood at PLN77.6m (€19.1m) fell by nearly 20% against the same period last year, from PLN96.6m (€23.7m).
In particular, the sales were driven by Asseco’s companies operating in Israel which saw a 28% year-on-year increase in revenue along with a dynamic growth and managed to improve their profit margins. However, the market in the Czech Republic experienced stagnation compensated by a positive development in neighbouring Slovakia. Also, Asseco managed to expand its business, mostly across the banking and payment solutions markets, in South Eastern Europe. The sales in Eastern Europe went up by 11% counting year-on-year with promising business development prospects, it says. The growth in Western Europe (10% y/y) was lifted by higher revenue both in Spain and Germany.
In its domestic market in Poland Asseco focused on a completion of several contracts across the major banks as well as a few other sectors. In the first quarter of the year the share of revenue from foreign operations increased to 78%, the company says.
The group’s Q1 revenues from proprietary software and services, which accounted for 83% of total revenues, showed a significant improvement and increased by 16% year-on-year. In terms of the market sector, the revenue from banking and financial sector accounted for 41% of the business with the public sector contributing to 24% of total revenue. The biggest chunk of revenue was derived from general business which corresponded with 48% of total revenue in Q1.
In total, Asseco Group signed 1,995 contracts in Q1.