Asseco South Eastern Europe S.a. · GPW:ASE
Asseco South Eastern Europe — FY2024 Earnings Presentation
26 slides from Asseco South Eastern Europe's earnings presentation, Feb 17, 2025
Slide 1: Asseco SEE Payten
aasee Payten
Slide 2: Estimated financial results for 2024 and Business Update
Estimated financial results for 2024 And Business Update 17th February 2025 ALL FIGURES FOR Q4, 2024 IN THIS PRESENTATION ARE ESTIMATES NOT AUDITED BY OUR AUDITOR OFFICIAL RESULTS ARE PLANNED TO BE PUBLISHED ON 26TH FEB 2025
Slide 3: Q4 and FY'2024 – Highlights
Q4 and FY’2024 – Highlights ▪ Very strong Payment as main contributor to EBIT growth YoY ▪ Payment growth driven by eCommerce and Processing and IPD and ECR ▪ Weaker Dedicated Solutions including one-offs (Q2), which affected result by 2.3mE. Shift of projects to 2025 ▪ Relatively good and above ini
Slide 4: Q4 and FY'2024 – Highlights Banking
Q4 and FY’2024 – Highlights Banking ▪ Relatively good and above initial expectations Banking in 2024 ▪ Channel solutions including mobile and origination projects showed significant growth ▪ Growing sales in new banking modules especially Financial Gateway ▪ Core banking solutions as expected showed
Slide 5: Q4 and FY'2024 – Highlights Dedicated Solutions
Q4 and FY’2024 – Highlights Dedicated Solutions ▪ Weaker Dedicated Solutions including one-offs (Q2), which affected result by 2.3mE ▪ Shift of projects to 2025 especially in Billing and ITS area ▪ Slower BPM ▪ Helius Albania shift of projects including Post Office and eAlbania to 2025 ▪ Live good o
Slide 6: Q4 and FY'2024 – Highlights Payment
Q4 and FY’2024 – Highlights Payment ▪ Very strong Payment as main contributor to EBIT growth YoY ▪ Growth driven by eCommerce and Processing and IPD and ECR ▪ eCommerce growth driven by Turkey, Portugal and SEE/Adriatic ▪ Q4 transactions: 634m (+15%) eCommerce transactions*, 94m (+52%) IPD transacti
Slide 7: Q4 2024 results
OD 3904 2024 results
Slide 8: Q4'24 – Positive quarter
Q4’24 – Positive quarter mEUR mPLN Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 % Diff Q4 2024 Q4 2023 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 115.7 110.6 111.1 112.9 -2% 498.7 488.6 478.9 499.0 -4% EBITDA 22.8 18.9 21.2 19.6 +8% 98.0 83.0 91.2 86.1 +6% EBIT 16.8 13.9 15.5 14.6 +6%
Slide 9: Q4'24 – Payment drive the growth
Q4’24 – Payment drive the growth Revenue EBITDA EBIT mEUR Q4 2024 Q4 2023 Diff Q4 2024 Q4 2023 Diff Q4 2024 Q4 2023 Diff 59 64 -5 9 8 1 7 7 0 Payment Solutions 52.4 49.1 +3.3 12.3 11.4 +0.9 8.5 8.1 +0.4 Non-Payment 58.7 63.8 -5.1 8.9 8.2 +0.7 7.0 6.5 +0.4 Banking Solutions 18.2 17.8 +0.5 3.6 5.1 -1.
Slide 10: Q4'24 – Growing driven by eComm.+Proc.
Q4’24 – Growing driven by eComm.+Proc. EBIT per BUs Q4 2024 Revenue eCommerce 13% (13%) mEUR Q4 2024 Q4 2023 Diff ECR + IPD - Processing 3% (4%) 1% (2%) ECR + IPD 4.7 3.9 +0.8 POS 33% (43%) ATM eComm. + Proc. 16.9 10.8 +6.1 POS 29% (31%) 55% (52%) eComm. + Proc. ** ATM (incl. IAD) 10.0 11.3 -1.4 55%
Slide 11: Q4'24 – Tur and WE contribute most of growth
Q4’24 – Tur and WE contribute most of growth Revenue EBIT mEUR Q4 2024 Q4 2023 Diff % Diff Q4 2024 Q4 2023 Diff % Diff SEE 65.1 60.5 +4.5 +7% 10.9 8.3 +2.5 +30% B&H 9.7 7.6 +2.1 +28% 1.4 0.1 +1.4 >+300% Croatia 14.6 14.8 -0.2 -2% 2.1 2.7 -0.6 -21% Macedonia 5.1 5.5 -0.5 -8% 1.0 1.5 -0.5 -35% Serbia
Slide 12: 2024 results
WD = 2024 results
Slide 13: FY'24 – Slight growth of EBIT
FY’24 – Slight growth of EBIT mEUR mPLN FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 % Diff FY 2024 FY 2023 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 396.9 362.7 390.4 363.4 +7% 1 708.2 1 642.5 1 680.4 1 645.8 +2% EBITDA 75.6 69.4 73.7 69.8 +6% 325.5 314.4 317.2 316.3 +0% EBIT 52.7 4
Slide 14: FY'24 – Dedicated Solutions negatively affected EBIT
FY’24 – Dedicated Solutions negatively affected EBIT Revenue EBITDA EBIT mEUR FY 2024 FY 2023 Diff FY 2024 FY 2023 Diff FY 2024 FY 2023 Diff 194 197 -3 24 30 -6 16 23 -7 Payment Solutions 196.5 166.5 +30.0 49.7 40.2 +9.5 35.3 27.1 +8.2 Non-Payment 193.9 196.9 -3.1 24.0 29.7 -5.7 16.3 23.4 -7.2 Banki
Slide 15: FY'24 – eComm.+Proc. drive the growth
FY’24 – eComm.+Proc. drive the growth EBIT per BUs FY 2024 Revenue eCommerce 13% (13%) mEUR FY 2024 FY 2023 Diff Processing ECR + IPD 3% (4%) ECR + IPD 17.9 14.2 +3.6 POS 29% 7% (7%) ATM eComm. + Proc. 57.1 36.3 +20.8 POS (41%) 29% (31%) 55% (52%) ** ATM (incl. IAD) 44.9 36.8 +8.1 eComm. + Proc. POS
Slide 16: FY'24 – Solid year for Turkey
FY’24 – Solid year for Turkey Revenue EBIT mEUR FY 2024 FY 2023 Diff % Diff FY 2024 FY 2023 Diff % Diff SEE 229.2 208.9 +20.3 +10% 35.1 35.3 -0.2 -1% B&H 29.6 25.6 +3.9 +15% 2.8 3.6 -0.8 -23% Croatia 56.6 52.1 +4.5 +9% 9.2 9.0 +0.1 +1% Macedonia 15.1 14.8 +0.3 +2% 2.6 2.8 -0.1 -4% Serbia 99.3 91.4 +
Slide 17: Liquidity
Liquidity 17
Slide 18: Net Cash position
Net Cash position mEUR 31 Dec'24 2023 YE Diff 30 Sep'24 Cash and short term investments 63.8 72.0 -8.2 47.2 Lease liabilities -15.4 -10.9 -4.5 -15.6 Bank loans and credit lines -38.1 -24.3 -13.8 -45.3 Deferred and contingent payments for acquisitions (short-term) -10.1 -12.6 +2.6 -17.5 Net Cash 0.3
Slide 19: Cashflow
Cashflow mEUR 2024 2023 2022 Operating cash flow 47.8 70.5 52.5 - Infrastructure for outsourcing & own networks -13.6 -7.8 -7.1 - Capitalized R&D 0.0 -0.1 -0.5 - M&A -21.1 -18.2 -8.8 - Other CAPEX -7.7 -7.6 -6.1 - Dividends for minority shareholders -2.6 -2.4 -0.8 Free Cash Flow 2.8 34.4 29.1 Debt I
Slide 20: Outlook for 2025
Outlook for 2025 20
Slide 21: ASEE + Payten
ASEE + Payten mEUR Q1 2025 Q1 2024 % Diff mEUR 2025F 2024F % Diff Revenues BL 81.5 66.8 +22% Revenues BL 249.0 233.3 +7% Margin1 BL 61.2 54.8 +12% Margin1 BL 213.5 186.4 +15% 70 250 60 +12% +15% 200 50 40 150 30 61.2 54.8 100 213.5 186.4 20 50 10 0 0 Q1 2025 Q1 2024 2025F 2024F * backlog data from J
Slide 22: ASEE – Banking and Dedicated Solutions
ASEE – Banking and Dedicated Solutions mEUR Q1 2025 Q1 2024 % Diff mEUR 2025F 2024F % Diff Revenues BL 44.5 36.6 +22% Revenues BL 113.4 118.4 -4% Margin1 BL 27.9 27.0 +4% Margin1 BL 85.5 78.0 +10% 30 90 +4% 80 25 +10% 70 20 60 50 15 27.9 27.0 40 85.5 78.0 10 30 20 5 10 0 0 Q1 2025 Q1 2024 2025F 2024
Slide 23: Payten
Payten mEUR Q1 2025 Q1 2024 % Diff mEUR 2025F 2024F % Diff Revenues BL 37.0 30.3 +22% Revenues BL 135.6 114.9 +18% Margin1 BL 33.3 27.8 +20% Margin1 BL 128.0 108.4 +18% 35 140 30 +20% 120 +18% 25 100 20 80 15 33.3 27.8 60 128.0 10 40 108.4 5 20 0 0 Q1 2025 Q1 2024 2025F 2024F * backlog data from Jan
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: <1asee
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