Asseco South Eastern Europe S.a. · GPW:ASE
Asseco South Eastern Europe — Q2 2023 Earnings Presentation
26 slides from Asseco South Eastern Europe's earnings presentation, Jul 26, 2023
Slide 1: ASEE Payten
4iasee Payten pwoasreco
Slide 2: Estimated Financial Results for Q2.2023 And Business Update
Estimated Financial Results for Q2.2023 And Business Update July 26th, 2023 ALL FIGURES FOR Q2, H1 2023 IN THIS PRESENTATION ARE ESTIMATES NOT REVIEWED BY AUDITOR OFFICIAL RESULTS WILL BE PUBLISHED ON 2ND AUG 2023
Slide 3: Q2'23: Highlights
Q2’23: Highlights • Strong second quarter in Banking showing 29% YoY EBIT growth driven by implementation projects • Good quarter for IPD and ECR network (thanks to new clients) and for traditional POS related services (thanks to deliveries and related services) • Recent material devaluation of Turk
Slide 4: Q2'23 ASEE Best Deals - Banking Business Unit
Q2’23 ASEE Best Deals. Banking Business Unit • Adaptive Elements Platform, a solution that enables rapid development of native mobile apps, for one of the biggest banking groups in Europe • Adaptive Elements Platform for the development of a mobile solution for PKI services and Hardware Tokens’ deli
Slide 5: Q2'23 ASEE Best Deals - Dedicated solutions
Q2’23 ASEE Best Deals. Dedicated solutions • LIVE Collaboration solution - implementation for a utility company in Lithuania • Registry for professional exams and record keeping of passed exams for The Ministry of Public Administration and Local Self-Government in Serbia • Integration of the existin
Slide 6: Q2'23 Payten Best Deals
Q2’23 Payten Best Deals. E-commerce • Payten Payment Gateway Solution at a technology company of a large size bank, at a medium size Electric Vehicle Charging Stations company, at a medium size Electric Vehicle Stations company, at a Electric Vehicle Charging Stations company owned by a large Turkis
Slide 7: Q2'23 Payten Best Deals - ATM and POS Related Services
Q2’23 Payten Best Deals. ATM and POS Related Services • Single POS solution for Mana Moda d.o.o, a large Croatian clothing retailer • Single POS solution for a Links d.o.o. one of the leading Croatian technical equipment retailers • POS Delivery and maintenance for two banks in BiH • Recycler ATM De
Slide 8: 2Q 2023 results
avasee Payten 2Q 2023 results
Slide 9: Q2'23: Strong organic growth
Q2’23: Strong organic growth mEUR mPLN Q2 2023 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Q2 2022 % Diff Q2 2023 Q2 2022 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 82.9 75.3 86.2 74.7 +15.5% 376 349 391 346 +13% EBITDA 16.6 16.1 17.3 15.9 +8.8% 75 75 78 74 +6% EBIT 11.9 11.1 12.6 11.0 +14.2% 54 52
Slide 10: Q2'23: Growth driven by Banking and Payment Solutions
Q2’23: Growth driven by Banking and Payment Solutions Revenue EBITDA EBIT mEUR Q2 2023 Q2 2022 Diff Q2 2023 Q2 2022 Diff Q2 2023 Q2 2022 Diff 44 36 7 7 7 1 6 5 1 Payment Solutions 42.7 38.4 +4.4 9.9 9.3 +0.6 6.7 5.9 +0.8 Non-Payment 43.5 36.3 +7.2 7.4 6.5 +0.8 5.9 5.1 +0.8 Banking Solutions 17.2 13.
Slide 11: Q2'23: Strong growth in POS
Q2’23: Strong growth in POS Revenue per BUs Q2 2023 Revenue eCommerce mEUR Q2 2023 Q2 2022 Diff eCommerce 13% (13%) 16% (15%) Processing eCommerce 6.8 5.7 +1.1 3% (4%) Processing 4% (3%) Processing 1.8 1.3 +0.5 POS 59% ATM POS 29% (31%) (56%) ATM* 9.1 10.0 -0.9 55% (52%) ATM 21% ** POS** 25.0 21.3 +
Slide 12: Q2'23: Four geographies with high growth
Q2’23: Four geographies with high growth Revenue EBIT mEUR Q2 2023 Q2 2022 Diff % Diff Q2 2023 Q2 2022 Diff % Diff B&H 6.4 7.1 -0.7 -10% 1.0 1.6 -0.5 -34% Croatia 12.8 11.3 +1.5 +13% 2.2 1.1 +1.0 +92% Iberia 12.5 11.4 +1.1 +9% 1.5 1.3 +0.2 +17% Latam 1.9 1.4 +0.5 +35% 0.1 0.1 +0.0 +40% Macedonia 3.0
Slide 13: Q1-2 2022 results
avasee Payten Q1-2 2022 results
Slide 14: Q1-2: Double digit growth of EBIT
Q1-2: Double digit growth of EBIT mEUR mPLN H1 2023 H1 2022 H1 2023 H1 2022 H1 2023 H1 2022 % Diff H1 2023 H1 2022 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 163.8 142.4 166.8 141.7 +17.7% 756 661 769 658 +17% EBITDA 32.1 30.8 32.7 30.5 +7.0% 148 143 151 142 +6% EBIT 22.6 21.0 23.2 20.9
Slide 15: Q1-2: Growth driven by Banking Solutions
Q1-2: Growth driven by Banking Solutions Revenue EBITDA EBIT mEUR H1 2023 H1 2022 Diff H1 2023 H1 2022 Diff H1 2023 H1 2022 Diff 88 71 17 14 13 2 12 10 2 Payment Solutions 79.3 71.0 +8.3 18.2 18.0 +0.2 11.7 11.2 +0.5 Non-Payment 87.5 70.7 +16.8 14.5 12.5 +1.9 11.6 9.7 +1.8 Banking Solutions 32.6 25.
Slide 16: Q1-2: Highest growth in POS followed by eCommerce
Q1-2: Highest growth in POS followed by eCommerce Revenue per BUs H1 2023 Revenue eCommerce mEUR H1 2023 H1 2022 Diff eCommerce 13% (13%) 17% (15%) Processing eCommerce 13.4 11.0 +2.5 3% (4%) Processing Processing 3.2 2.4 +0.9 ATM 4% (3%) POS 29% (31%) ATM* 15.2 17.0 -1.9 55% (52%) POS 60% ** ATM 19
Slide 17: Q1-2: Growth in most of geographies
Q1-2: Growth in most of geographies Revenue EBIT mEUR H1 2023 H1 2022 Diff % Diff H1 2023 H1 2022 Diff % Diff B&H 11.7 13.1 -1.4 -11% 2.0 2.5 -0.5 -22% Croatia 23.9 21.2 +2.7 +13% 2.8 1.6 +1.2 +78% Iberia 24.7 20.0 +4.7 +23% 2.9 2.5 +0.5 +18% Latam 3.7 2.6 +1.1 +42% 0.2 0.1 +0.1 +56% Macedonia 6.0 6
Slide 18: Liquidity
avasee Payten Liquidity
Slide 19: Net Cash position
Net Cash position Asseco SEE Group mEUR 30 Jun'23 2022 YE Diff Cash and short term investments 66.5 63.6 2.9 Lease liabilities -10.6 -9.6 -1.0 Bank loans and credit lines -21.3 -24.5 3.2 Deferred and contingent payments for acquisitions (short-term) -14.0 -12.3 -1.7 Net Cash 20.6 17.1 3.5 Receivable
Slide 20: Solid operating cash flow
Solid operating cash flow Asseco SEE Group mEUR Q2 2023 LTM 2022 2021 Operating cash flow* 52.8 52.5 52.5 - Infrastructure for outsourcing -5.2 -5.5 -3.5 - infrastructure for IAD -0.3 -0.4 -0.2 - Capitalized R&D -0.5 -0.5 -0.3 - M&A -6.0 -8.5 -31.7 - Other CAPEX -7.9 -7.2 -5.3 Free cash flow 32.9 30
Slide 21: Outlook for 2023
avasee Payten Outlook for 2023
Slide 22: ASEE + Payten
ASEE + Payten mEUR Q3 2023F * Q3 2022 % Diff mEUR 2023F * 2022 % Diff Revenues BL 71.6 75.0 -5% Revenues BL 298.1 281.2 +6% Margin1 BL 53.3 49.3 +8% Margin1 BL 214.6 194.0 +11% 60 250 50 +8% +11% 200 40 150 30 20 53.3 49.3 100 214.6 194.0 50 10 0 0 Q3 2023F Q3 2022 2023F 2022 * backlog data as on Ju
Slide 23: ASEE - Banking and Dedicated solutions
ASEE - Banking and Dedicated solutions mEUR Q3 2023F * Q3 2022 % Diff mEUR 2023F* 2022 % Diff Revenues BL 39.4 37.2 +6% Revenues BL 157.9 141.0 +12% Margin1 BL 25.1 23.4 +7% Margin1 BL 102.4 92.6 +11% 30 120 25 +7% 100 +11% 20 80 15 60 10 25.1 23.4 40 102.4 92.6 5 20 0 0 Q3 2023F Q3 2022 2023F 2022
Slide 24: Payten
Payten mEUR Q3 2023F * Q3 2022 % Diff mEUR 2023F* * 2022 % Diff Revenues BL 32.2 37.8 -15% Revenues BL 140.2 140.3 -0% Margin1 BL 28.2 25.9 +9% Margin1 BL 112.3 101.5 +11% 30 120 25 +9% 100 +11% 20 80 15 28.2 25.9 60 112.3 101.5 10 40 5 20 0 0 Q3 2023F Q3 2022 2023F 2022 * backlog data as on July 24
Slide 25: ASEE Asseco Group
ASEE Asseco Group www.see.asseco.com www.asseco.com linkedin.com/company/Asseco SEE @asseco_group youtube.com/user/AssecoSEE linkedin.com/company/asseco-group facebook.com/AssecoSEE 25
Slide 26: Legal disclaimer
Legal disclaimer The content presented in this presentation is subject to copyright protection and has the ownership title. Texts, graphics, photographs, sound, animations and videos as well as their distribution in the presentation are protected under the Copyright and related rights Law. Unauthori
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