Financial results for Q1.2024 And Business Update
25th April, 2024
Q1'24 - Highlights
• Very strong Payment as main contributor to EBIT growth YoY. Growth driven by eCommerce and Processing as well as IPD and ECR networks
• Q1 still good in Banking Solutions thanks to multichannel and security solutions, which
compensated slowdown in core banking. Slowdown expected from Q2 onwards
• Expected slower H1 in Dedicated Solutions due to delays in contracting new projects
• Significant negative impact of strong PLN (8% stronger versus EUR) on results in PLN
• Price indexation challenges in Turkey completed with positive results
• Q1 transactions: 526m (+28%) eCommerce transactions, 63m (+55%) IPD transactions,
109m (+13%) physical transactions processed
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Q1'24 - ASEE best deals
Banking solutions:
- Financial gateway implementation for a bank in Serbia
- Financial gateway implementation for a bank in Montenegro
- Implementation of Payment Gateway - Instant payment feature for financial institution in Serbia
• Tezauri Basel III solution implementation for the Bosnian Bank
- Open Banking solution provided for two banks in Montenegro
- Digital Edge Mobile & Web for the bank in Montenegro
- InAct Anti Fraud solution for three different banks in Montenegro
- Multifactor Authentication Solution SxS - for a large bank in Croatia
- Mobile application security solution - App Protector for a bank in Romania
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Q1'24 - ASEE best deals
Dedicated solutions:
-
Mobile application for insights into the citizens' accounts in
Serbia - Licenses and implementation services of the WAF system in Serbia
- Licenses and support for software solution AlgoSec Firewall Analyzer, with the addition of AlgoSec trainings for Serbian Bank
- Integration of the DMS System for a private company in Romania
- Dynatrace Application Performance Management 2 Year Renewal Project at a large size broadcasting corporation
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Q1'24 - Payten best deals
E-Commerce:
- Payten Payment Gateway - Payten Payment Gateway project including card storage at an IT company
- Payten Payment Gateway - BNPL Integration at a payment facilitator
- Secure IVR Integration at a large size state-owned insurance company, at a large size state-owned life and pension insurance company
- Payten Fintech Suite - PF Installation and Integration at a payment facilitator of a large size public bank
- Threatmetrix Integration at a large size tourism company
- Paratika Virtual POS solution at an aluminum producing company, at an IT company, at an agriculture company.
- Nestpay - Juzdan BNPL Integration at a large size bank
- Nestpay - Secure Payment Page (HPP) at a large size public bank
- Nestpay &3D secure MPI 2.0&GO Integration at a large size e-money and payment company
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Q1'24 - Payten best deals
ATM and POS related services:
- Bank in Romania extended existing POS outsourcing contracts
- Extension of ATM maintenance contract for Croatian bank for three years
- Agreement for new DN ATM for one biggest banks in Serbia
- Implementation of the TermHost project to the Bank in Bulgaria which covers new UX for clients
- Agreement for the implementation of a teller cash recycler (TCR) on the Croatian market
- POS terminals delivery for a bank in Croatia
- Completed ATM Delivery for one bank in Romania
- MDM Platform for African processor
IPD and ECR:
- Instore Payments (IPD) solution for a clothing retailer chain in Croatia
- Instore Payments (IPD) solution for a beverages and food retailer chain in Croatia
- Instore Payments (IPD) solution for a jewelery retailer chain in Croatia
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Q1 2024 results
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Q1'24 - Growth of results in EUR
mEUR | mPLN | |||||||||
Q1 2024 | Q1 2023 | Q1 2024 | Q1 2023 | % Diff | Q1 2024 | Q1 2023 | Q1 2024 | Q1 2023 | % Diff | |
no hyper. | no hyper. | no hyper. | no hyper. | |||||||
Revenue | 84.9 | 80.9 | 84.5 | 80.6 | +5% | 367.1 | 380.1 | 365.3 | 378.7 | -4% |
EBITDA | 16.4 | 15.5 | 16.4 | 15.4 | +6% | 71.1 | 72.8 | 70.9 | 72.4 | -2% |
EBIT | 11.0 | 10.6 | 11.1 | 10.6 | +5% | 47.5 | 49.8 | 47.9 | 49.8 | -4% |
NPAT | 11.2 | 10.0 | 9.0 | 7.9 | +13% | 48.6 | 46.8 | 38.9 | 37.4 | +4% |
EBITDA % | 19.4% | 19.1% | 19.4% | 19.1% | 19.4% | 19.1% | 19.4% | 19.1% | ||
EBIT % | 12.9% | 13.1% | 13.1% | 13.2% | 12.9% | 13.1% | 13.1% | 13.2% | ||
EBIT non-IFRS | 12.0 | 11.1 | 12.0 | 11.1 | +8% | 51.8 | 52.4 | 51.8 | 52.4 | -1% |
NPAT non-IFRS | 10.4 | 8.6 | 10.4 | 8.6 | +21% | 44.9 | 40.3 | 44.9 | 40.3 | +11% |
Acquisitions effect - Rev: 2.8 | EBIT: 0.7 | EBITDA: 1.1
No hyper. - excluding hyperinflation accounting
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Q1'24 - Good quarter for Payment business
Revenue | EBITDA | EBIT | |||||||
mEUR | Q1 2024 | Q1 2023 | Diff | Q1 2024 | Q1 2023 | Diff | Q1 2024 | Q1 2023 | Diff |
Payment Solutions | 41.2 | 36.5 | +4.6 | 10.0 | 8.3 | +1.7 | 6.6 | 5.0 | +1.6 |
Non-Payment | 43.4 | 44.0 | -0.7 | 6.4 | 7.1 | -0.7 | 4.5 | 5.6 | -1.1 |
Banking Solutions | 16.7 | 15.4 | +1.4 | 4.8 | 4.4 | +0.4 | 4.1 | 3.7 | +0.4 |
Dedicated Solutions | 26.6 | 28.7 | -2.0 | 1.6 | 2.7 | -1.1 | 0.4 | 1.9 | -1.5 |
ASEE Group TTL | 84.5 | 80.6 | +4.0 | 16.4 | 15.4 | +1.0 | 11.1 | 10.6 | +0.5 |
Revenue per BUs Q1 2024 | EBIT per BUs Q1 2024 | Profitability per BU | ||||
Q1 2024 | Q1 2023 | |||||
Dedicated | ||||||
Dedicated | Solutions 4% | 24% | 24% | |||
Banking (18%) | ||||||
Solutions | Payment | |||||
32% (36%) | Solutions | 16% | ||||
Solutions | Payment | 14% | ||||
37% (35%) | ||||||
49% (45%) | Solutions | |||||
Banking | ||||||
59% (47%) | 7% |
Solutions | 2% | |
20% (19%) | ||
BAN KIN G SOLU TIONS | P AY MEN T SOLU TIONS DEDIC ATED SOLU TIONS |
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Asseco South Eastern Europe SA published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 12:05:02 UTC.