Coverage of high-potential mid-market firms in Poland


Asseco Poland IT nets attrib. PLN 76.7 mln in Q4 vs PLN 83.3 mln expected - FY report


Listed IT group Asseco Poland posted PLN 76.7 mln attributable net profit in Q4 2016, below the market consensus for PLN 83.3 mln, Asseco's financial report showed.

EBIT of PLN 203 mln was down 3.8% y/y and 2.4% below consensus.


Revenues increased by 2,9% y/y to PLN 2.26 bln to edge out consensus.


Among revenues, sale of traditionally highest margin proprietary software and services increased by 10.9% y/y to PLN 1.78 bln. Lower margin segment of licensed software and services shrank by 23% to PLN 165 mln, while hardware was down 16% to PLN 318 mln.


In client segments, Asseco recorded highest sales increase of 17.5% in industry, followed by banking and finance with 10.9% increase while sales to public administration nosedived 20% to PLN 1.74 bln.


Asseco sports order portfolio for 2017 of PLN 5.512 bln.


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