Asseco Business Solutions (ABS) H2 2024 earnings summary

Executive summary

• Revenue increased by 12.7% year-over-year to PLN 428.8 million, with net profit up 21% to PLN 115.0 million.

• EBITDA rose 13.2% to PLN 164.2 million, and EBIT grew 13.4% to PLN 124.1 million.

• Strong performance driven by both domestic and international sales, with continued investment in product development and cloud services.

• A new incentive program for management and key staff was launched, funded by a buyback of 600,000 shares.

Financial highlights

• Operating revenue: PLN 428.8 million (+12.7% y/y).

• Net profit: PLN 115.0 million (+21.0% y/y).

• EBITDA: PLN 164.2 million (+13.2% y/y).

• EBIT: PLN 124.1 million (+13.4% y/y).

• Earnings per share: PLN 3.46 (vs. PLN 2.84 in 2023).

• Dividend paid: PLN 2.60 per share for 2023.

• Cash flow from operations: PLN 163.3 million (+26.2% y/y).

• Cash and equivalents at year-end: PLN 40.9 million.

Outlook and guidance

• Management expects continued growth in the IT sector, especially in cloud and digital transformation solutions.

• The company is well-positioned for further expansion, with a strong financial base and ongoing investments in R&D.

• No formal financial forecasts were published for 2025.