Asseco Poland S.A. (ASOZY) Q3 2025 earnings summary

Executive summary

• Sales revenue grew 11% year-over-year to PLN 12.3 billion for the first nine months of 2025, with non-IFRS operating profit up 18% to PLN 1.4 billion and non-IFRS net profit up 29% to PLN 516 million; reported net profit rose 23% to PLN 453 million.

• Proprietary software and services accounted for 76% of total sales, with strong performance in finance, public administration, and ERP sectors.

• Profitability improved, with non-IFRS margin close to 12%, driven by proprietary software and services and strong performance across core sectors and geographies.

• Strategic focus on diversification, proprietary products, and expansion in cloud, cybersecurity, defense, and AI continues to support growth.

• Order backlog for 2025 increased by 13% to over PLN 12 billion, supporting an optimistic outlook for 2026.

Financial highlights

• EBITDA reached PLN 1,847 million (+15%), EBIT at PLN 1,445 million (+18%), and net profit at PLN 516 million (+29%).

• Organic revenue growth exceeded PLN 1 billion, with acquisitions contributing PLN 355 million.

• Cash conversion ratio at 112% for the group, with free cash flow for the last twelve months at PLN 2,060 million.

• Negative FX impact of PLN 135 million, with one-off items including real property sales and tax effects.

• Basic and diluted EPS was PLN 6.65, up from PLN 5.41 in the prior year.

Outlook and guidance

• Backlog for proprietary software and services exceeds PLN 12 billion, up 13% year-over-year, with strong growth in Asseco Poland and International segments.

• Optimistic outlook for 2026, supported by a robust backlog and ongoing projects; focus on contract execution and efficiency improvements.

• No significant threats to continued operations or development are foreseen for the next 12 months.