Poland · Delayed Price · Currency is PLN Asseco South Eastern Europe Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw strong banking growth and improved cash flow, while payment revenues declined due to client losses in Turkey and Asia. Cost growth slowed, supporting higher profitability, and management expects 10-15% group growth in 2026, with continued focus on efficiency and M&A.
Fiscal Year 2025
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Solid operating profit growth in 2025, led by dedicated solutions and banking, offset by payment segment challenges in Turkey and write-offs in India/UAE. Strong cash generation and positive 2026 outlook, with efficiency gains and potential acquisitions expected.
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Q3 results were hit by non-cash write-offs in India and Dubai, but adjusted EBIT grew 21% year-over-year. Payment segment faced revenue drops from client shifts in Turkey, while banking and dedicated solutions delivered strong growth. Cash flow and backlog improved, with focus shifting to cost optimization and direct-to-merchant lines.
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Q2 delivered strong growth in Dedicated Solutions and banking, with revenue up 11% year-over-year and operating profit up 22%. Payment segment faced headwinds in Turkey and India, but cash flow and backlog remain robust, supporting a positive outlook.
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Q1 saw strong growth in payments and e-commerce, with banking outperforming and dedicated solutions lagging due to project delays. Cash flow and backlog coverage are robust, and expansion into Spain and ongoing acquisitions support a positive outlook.