Asseco South Eastern Europe S.a. · GPW:ASE
Asseco South Eastern Europe — FY2023 Earnings Presentation
26 slides from Asseco South Eastern Europe's earnings presentation, Feb 14, 2024
Slide 1: ASEE Payten
4vasee Payten
Slide 2: Estimated Financial Results for 2023 And Business Update
Estimated Financial Results for 2023 And Business Update Regulatory Filling dated February 14th, 2024 ALL FIGURES FOR Q4, FY 2023 IN THIS PRESENTATION ARE ESTIMATES NOT AUDITED BY AUDITOR OFFICIAL RESULTS WILL BE PUBLISHED ON 27TH FEB 2024
Slide 3: 2023: Highlights
2023: Highlights • Very strong Banking thanks to completed implementation projects • Good fourth quarter (+40%) and whole year (+15%) in Payment in YoY EBIT growth driven by eCommerce, Processing as well as IPD and ECR networks • Solid revenues growth on own activities in Payment compensated third-
Slide 4: Q4 2023 ASEE Best Deals. Banking Business Unit
Q4 2023 ASEE Best Deals. Banking Business Unit • Adaptive Elements Platform for development of mobile apps, for a bank in Serbia • App Protector (mobile application security solution) for international banking group in Romania • SxS for international banking group in Romania • DWH Solution with addi
Slide 5: Q4 2023 ASEE Best Deals. Dedicated solutions
Q4 2023 ASEE Best Deals. Dedicated solutions • SmartCity - Adaptive Control System for Sarajevo Canton • DMS System in the Regulatory Agency for Electronic Communications and Postal Services of Serbia • Documenta (DMS) for a Governmental Institution in Romania • Dynatrace solution with the license a
Slide 6: Q4 2023 Payten Best Deals. E-commerce
Q4 2023 Payten Best Deals. E-commerce ▪ Torus SaaS Implementation Project at a e-payment services company in Iraq ▪ Payment Gateway including card storage at a fitness company, numer of automotive companies, at a large size online pharmacy market place and a pet supplies e-commerce company ▪ Payment
Slide 7: Q4 2023 Payten Best Deals. ATM and POS
Q4 2023 Payten Best Deals. ATM and POS Related Services ▪ IPD SinglePOS for an insurance company in Croatia ▪ Parking solution by Monri with solar power for a public company in Romania ▪ TermHost in SaaS with additional functionality for ATMs for the bank in Serbia ▪ TermHost first time on a new mar
Slide 8: 4Q 2023 results
<vasee Payten 4Q 2023 results
Slide 9: Q4'23: Positive quarter despite provisions
Q4’23: Positive quarter despite provisions mEUR mPLN Q4 2023 Q4 2022 Q4 2023 Q4 2022 Q4 2023 Q4 2022 % Diff Q4 2023 Q4 2022 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 110.6 103.4 112.9 104.6 +8% 488.6 484.9 499.0 490.5 +2% EBITDA 18.9 18.1 19.6 18.5 +6% 83.1 85.1 86.1 86.7 -1% EBIT 14.1
Slide 10: Q4'23: Good quarter for Payment and Banking
Q4’23: Good quarter for Payment and Banking Revenue EBITDA EBIT mEUR Q4 2023 Q4 2022 Diff Q4 2023 Q4 2022 Diff Q4 2023 Q4 2022 Diff 64 57 6 8 9 -1 7 8 -1 Payment Solutions 49.1 47.3 +1.8 11.4 9.3 +2.1 8.2 5.8 +2.4 Non-Payment 63.8 57.3 +6.5 8.2 9.2 -1.0 6.5 7.6 -1.0 Banking Solutions 17.8 17.9 -0.2
Slide 11: Q4'23: Highest growth in eCommerce and Processing
Q4’23: Highest growth in eCommerce and Processing EBIT per BUs Q4 2023 Revenue mEUR Q4 2023 Q4 2022 Diff eCommerce ECR + IPD 13% (13%) 4% (1%) ECR + IPD 3.9 2.8 +1.1 Processing 3% (4%) eComm. + Proc. 10.8 7.5 +3.3 POS 41% eComm. + Proc. (58%) ATM 40% (12%) POS 29% (31%) ATM (incl. IAD) 11.3 12.8 -1.
Slide 12: Q4'23: Five geographies with solid growth
Q4’23: Five geographies with solid growth Revenue EBIT mEUR Q4 2023 Q4 2022 Diff % Diff Q4 2023 Q4 2022 Diff % Diff B&H 7.6 7.6 -0.1 -1% -0.1 1.5 -1.6 Croatia 14.8 13.4 +1.4 +11% 2.5 1.6 +0.8 +52% Iberia 15.2 16.6 -1.4 -8% 2.7 2.2 +0.6 +26% Latam 2.7 2.2 +0.5 +23% 0.4 0.0 +0.4 +3576% Macedonia 5.5 6
Slide 13: 2023 results
<vasee Payten 2023 results
Slide 14: 2023: Double digit growth of EBIT
2023: Double digit growth of EBIT mEUR mPLN FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 % Diff FY 2023 FY 2022 % Diff no hyper. no hyper. no hyper. no hyper. Revenue 362.7 333.9 363.4 332.0 +9% 1 642.5 1 565.5 1 645.8 1 556.4 +6% EBITDA 69.5 65.9 69.8 65.2 +7% 314.6 308.8 316.3 305.6 +4% EBIT 49
Slide 15: 2023: Solid growth in Payment and Banking Solutions
2023: Solid growth in Payment and Banking Solutions Revenue EBITDA EBIT mEUR FY 2023 FY 2022 Diff FY 2023 FY 2022 Diff FY 2023 FY 2022 Diff 197 171 26 30 28 2 23 22 2 Payment Solutions 166.5 160.6 +5.9 40.2 37.5 +2.7 27.2 23.7 +3.5 Non-Payment 196.9 171.4 +25.5 29.7 27.7 +1.9 23.4 21.8 +1.6 Banking
Slide 16: 2023: Highest growth in eCommerce+Processing
2023: Highest growth in eCommerce+Processing EBIT per BUs FY 2023 Revenue mEUR FY 2023 FY 2022 Diff eCommerce 13% (13%) ECR + IPD Processing 7% (2%) ECR + IPD 14.2 10.2 +4.0 3% (4%) POS 41% eComm. + Proc. 36.3 27.3 +9.0 (45%) eComm. + Proc. ATM POS 33% (26%) 29% (31%) ATM (incl. IAD) 36.8 42.9 -6.1
Slide 17: 2023: Serbia, Croatia and Romania contribute to growth
2023: Serbia, Croatia and Romania contribute to growth Revenue EBIT mEUR FY 2023 FY 2022 Diff % Diff FY 2023 FY 2022 Diff % Diff B&H 25.6 29.1 -3.5 -12% 3.0 5.0 -1.9 -39% Croatia 52.1 47.9 +4.2 +9% 8.2 6.2 +2.0 +31% Iberia 46.4 49.1 -2.7 -6% 6.1 6.1 -0.0 -0% Latam 8.3 6.4 +2.0 +31% 0.7 0.3 +0.4 +150
Slide 18: Liquidity
<vasee Payten Liquidity
Slide 19: Net Cash position
Net Cash position mEUR 2023 YE 2022 YE Diff Cash and short term investments 72.0 63.5 +8.5 Lease liabilities -11.0 -9.6 -1.4 Bank loans and credit lines -24.3 -24.5 +0.2 Deferred and contingent payments for acquisitions (short-term) -12.6 -12.3 -0.3 Net Cash 24.1 17.1 +7.0 Receivables and Prepayment
Slide 20: Solid operating cash flow
Solid operating cash flow Asseco SEE Group mEUR 2023 2022 2021 Operating cash flow* 70.3 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 -0.1 -0.5 -0.3 - M&A -18.2 -8.8 -31.7 - Other CAPEX -9.9 -7.2 -5.3 Free Cash Flow 36.6 30.2 11.
Slide 21: Outlook for 2024
<vasee Payten Outlook for 2024
Slide 22: ASEE + Payten
ASEE + Payten mEUR Q1 2024F * Q1 2023F % Diff mEUR 2024F * 2023F % Diff Revenues BL 72.0 77.6 -7% Revenues BL 253.4 250.6 +1% Margin1 BL 58.0 55.9 +4% Margin1 BL 199.8 186.8 +7% 70 250 60 +4% +7% 200 50 40 150 30 58.0 55.9 100 199.8 186.8 20 50 10 0 0 Q1 2024F Q1 2023F 2024F 2023F * backlog data fro
Slide 23: ASEE - Banking and Dedicated solutions
ASEE - Banking and Dedicated solutions mEUR Q1 2024F * Q1 2023F % Diff mEUR 2024F* 2023F % Diff Revenues BL 39.1 40.9 -4% Revenues BL 125.2 123.0 +2% Margin1 BL 28.1 28.9 -3% Margin1 BL 82.7 84.7 -2% 35 90 30 -3% 80 -2% 70 25 60 20 50 15 28.1 28.9 40 82.7 84.7 30 10 20 5 10 0 0 Q1 2024F Q1 2023F 202
Slide 24: Payten
Payten mEUR Q1 2024F * Q1 2023F % Diff mEUR 2024F* * 2023F % Diff Revenues BL 32.9 36.8 -10% Revenues BL 128.1 127.7 +0% Margin1 BL 29.9 27.0 +11% Margin1 BL 117.1 102.1 +15% 35 140 30 +11% 120 +15% 25 100 20 80 15 29.9 27.0 60 117.1 102.1 10 40 5 20 0 0 Q1 2024F Q1 2023F 2024F 2023F * backlog data
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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