Asseco South Eastern Europe S.a. · GPW:ASE
Asseco South Eastern Europe — Q2 2024 Earnings Presentation
26 slides from Asseco South Eastern Europe's earnings presentation, Jul 25, 2024
Slide 1: ASEE Payten
aasee Payten
Slide 2: Estimated financial results for Q2.2024 and Business Update
Estimated financial results for Q2.2024 And Business Update 25th July, 2024 ALL FIGURES FOR Q2, H1 2024 IN THIS PRESENTATION ARE ESTIMATES NOT REVIEWED BY AUDITOR OFFICIAL RESULTS WILL BE PUBLISHED ON 2ND AUG 2024
Slide 3: Q2'24 – Highlights
Q2’24 – Highlights • Very strong Payment as main contributor to EBIT growth YoY. Growth driven by eCommerce and Processing as well as direct to merchant IPD and ECR networks • Q2 still good (flat YoY) in Banking Solutions thanks to multichannel solutions, which compensated slowdown in core banking.
Slide 4: Q2'24 – ASEE best deals
Q2’24 – ASEE best deals Banking solutions: Dedicated solutions: • Priority API domains implementation project for bank in • LIVE Contact center implementation in a large bank in B&H Serbia and in a ministry in Serbia • Tezauri Basel III implementation for the bank in Serbia • Documenta DMS solution
Slide 5: Q2'24 – Payten best deals
Q2’24 – Payten best deals E-Commerce & Processing: ▪ Processing and Service provisioning for client in Malta ▪ Nestpay, New Visa Secure Fields solution for bank in Turkey ▪ Nestpay, Pay by link solution for bank in Turkey ▪ Processing payment card transactions, ATM acquiring, and related payment pro
Slide 6: Q2'24 – Payten best deals
Q2’24 – Payten best deals ATM and POS related services: IPD and ECR: ▪ Counter machines delivery for bank in North Macedonia ▪ Instore Payments (IPD) solution for two retail chains in ▪ Extension of ATM maintenance contract with cassettes Croatia outsourcing and security delivery for bank in Croatia
Slide 7: Q2 2024 results
OD 92 2024 results
Slide 8: Q2'24 – Excluding write-offs close to Q2'23
Q2’24 – Excluding write-offs close to Q2’23 mEUR mPLN Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 % Diff Q2 2024 Q2 2023 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 92.4 82.9 91.0 86.2 +5% 397.6 375.5 391.3 390.8 +0% EBITDA 15.6 16.6 15.3 * 17.3 -11% 67.2 75.2 65.7 78.3 -16% EBIT 10.1
Slide 9: Q2'24 – Payment growth leveled by DS decline
Q2’24 – Payment growth leveled by DS decline Revenue EBITDA EBIT mEUR Q2 2024 Q2 2023 Diff Q2 2024 Q2 2023 Diff Q2 2024 Q2 2023 Diff 45 44 1 3 7 -4 2 6 -4 Payment Solutions 46.4 42.7 +3.7 11.8 9.9 +1.9 8.4 6.7 +1.7 Non-Payment 44.5 43.5 +1.0 3.4 7.4 -3.9 1.5 5.9 -4.3 Banking Solutions 17.0 17.2 -0.2
Slide 10: Q2'24 – Change in contribution by business lines
Q2’24 – Change in contribution by business lines, big increase of share of eComm and merchant business EBIT per BUs Q2 2024 Revenue eCommerce 13% (13%) mEUR Q2 2024 Q2 2023 Diff Processing POS3% (4%) ECR + IPD 19% ECR + IPD 4.7 3.7 +1.0 (44%) 15% (12%) ATM eComm. + Proc. 12.4 8.6 +3.8 POS 29% (31%)
Slide 11: Q2'24 – Big drops in B&H and Rom partially off set by Tur
Q2’24 – Big drops in B&H and Rom partially off set by Tur Revenue EBIT mEUR Q2 2024 Q2 2023 Diff % Diff Q2 2024 Q2 2023 Diff % Diff B&H 6.3 6.4 -0.1 -2% -0.9 1.0 -1.9 Croatia 13.6 12.8 +0.8 +6% 1.9 2.2 -0.3 -14% Iberia 9.5 12.5 -3.0 -24% 1.5 1.5 -0.0 -1% Latam 2.8 1.9 +0.9 +48% 0.2 0.1 +0.1 +93% Mac
Slide 12: H1 2024 results
ED =H1 2024 results
Slide 13: H1'24 – Operating profit drop due to one-offs
H1’24 – Operating profit drop due to one-offs mEUR mPLN H1 2024 H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 % Diff H1 2024 H1 2023 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 177.4 163.8 175.5 166.8 +5% 764.7 755.6 756.6 769.5 -2% EBITDA 32.1 32.1 31.7* 32.7 -3% 138.3 148.0 136.6 150.7 -9% EB
Slide 14: H1'24 – Dedicated Solutions negatively affects EBIT
H1’24 – Dedicated Solutions negatively affects EBIT Revenue EBITDA EBIT mEUR H1 2024 H1 2023 Diff H1 2024 H1 2023 Diff H1 2024 H1 2023 Diff 88 88 0 10 14 -5 6 11 -5 Payment Solutions 87.6 79.3 +8.3 21.8 18.2 +3.6 14.9 11.7 +3.3 Non-Payment 87.9 87.5 +0.4 9.9 14.5 -4.6 6.0 11.5 -5.4 Banking Solutions
Slide 15: H1'24 – Change in contribution by business lines
H1’24 – Change in contribution by business lines, big increase of share of eComm and merchant business EBIT per BUs H1 2024 Revenue eCommerce 13% (13%) mEUR H1 2024 H1 2023 Diff Processing 3% (4%) ECR + IPD ECR + IPD 8.1 6.6 +1.6 POS 27% 12% (7%) (50%) 29%ATM eComm. + Proc. 24.1 16.7 +7.5 POS (31%)
Slide 16: H1'24 – Big drops in B&H, Ser, Rom partially off set by Tur
H1’24 – Big drops in B&H, Ser, Rom partially off set by Tur Revenue EBIT mEUR H1 2024 H1 2023 Diff % Diff H1 2024 H1 2023 Diff % Diff B&H 12.1 11.7 +0.5 +4% -0.2 2.0 -2.2 Croatia 26.6 23.9 +2.7 +11% 2.8 2.8 +0.0 +1% Iberia 21.0 24.7 -3.7 -15% 3.1 2.9 +0.2 +5% Latam 4.8 3.7 +1.1 +30% 0.4 0.2 +0.2 +92
Slide 17: Liquidity
Liquidity 17
Slide 18: Net Cash position
Net Cash position mEUR 30 Jun'24 2023 YE Diff Cash and short term investments 51.7 72.0 -20.3 Lease liabilities -13.8 -10.9 -2.9 Bank loans and credit lines -45.5 -24.3 -21.1 Deferred and contingent payments for acquisitions (short-term) -11.1 -12.6 +1.5 Net Cash -18.7 24.2 -42.8 Receivables and Pre
Slide 19: Cashflow
Cashflow Asseco SEE Group mEUR H1 2024 LTM 2023 2022 H1 2024 H1 2023 Operating cash flow* 42.6 70.3 52.5 2.4 30.2 -infrastructure for outsourcing & own networks -10.2 -7.6 -6.7 -5.9 -3.4 - Capitalized R&D 0.1 -0.1 -0.4 0.0 -0.2 - M&A -27.7 -18.2 -0.5 -10.2 -0.7 - Other CAPEX -7.4 -7.7 -7.6 -2.8 -3.1
Slide 20: Outlook for 2024
Outlook for 2024 20
Slide 21: ASEE + Payten
ASEE + Payten mEUR Q3 2024 Q3 2023 % Diff mEUR 2024 2023 % Diff Revenues BL 98.2 73.1 +34% Revenues BL 340.8 306.4 +11% Margin1 BL 63.7 54.6 +17% Margin1 BL 249.8 222.7 +12% 70 300 60 +17% 250 +12% 50 200 40 150 30 63.7 54.6 249.8 20 100 222.7 10 50 0 0 Q3 2024 Q3 2023 2024 2023 * backlog data from
Slide 22: ASEE – Banking and Dedicated Solutions
ASEE – Banking and Dedicated Solutions mEUR Q3 2024 Q3 2023 % Diff mEUR 2024 2023 % Diff Revenues BL 51.9 40.9 +27% Revenues BL 175.1 164.1 +7% Margin1 BL 27.5 26.4 +4% Margin1 BL 110.8 108.2 +2% 30 120 25 +4% 100 +2% 20 80 15 10 27.5 26.4 60 110.8 108.2 40 5 20 0 0 Q3 2024 Q3 2023 2024 2023 * backl
Slide 23: Payten
Payten mEUR Q3 2024 Q3 2023 % Diff mEUR 2024 2023 % Diff Revenues BL 46.3 32.3 +44% Revenues BL 165.7 142.4 +16% Margin1 BL 36.1 28.2 +28% Margin1 BL 139.1 114.5 +21% 40 160 35 +28% 140 +21% 30 120 25 100 20 80 36.1 139.1 15 10 28.2 60 40 114.5 5 20 0 0 Q3 2024 Q3 2023 2024 2023 * backlog data from
Slide 24: 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
Slide 25: Thank you
Thank you http:// asee.io 25
Slide 26: ASEE
<1asee
Asseco South Eastern Europe — Q2 2024 Earnings Presentation on 6ix