Prezentacja programu PowerPoint - Asseco · 80% 8% 12% 0% 8,703 mPLN Main focus: proprietary...

Asseco Poland

Company Presentation

June, 20182

Asseco at a glance

Present in

53countries

Over

23,000highly commited

employees

6th

largest software & services

vendor in Europe

1,845mEUR

sales revenues in 2017

138mEUR

operating profit in 2017

0.9 blnEUR

market capitalization

• Founded in 1991

• The largest IT company in Poland

• Traded on the WSE, included in the WIG30 blue chip index

• International presence

3

Areas of Activity

• Banks

• Insurance companies

• Brokerage houses

• Investment funds

• Leasing companies

• Factoring companies

• Central administration

• Local administration

• Healthcare

• International organizations

• Social services

• Uniformed services

• Education

• Telecommunication

• Energy sector

• Utilities

• Gas sector

• Manufacturing, Trade and Services

• FMCG

• Multimedia

Finance Public Sector Enterprises

4

Track Record of Successful Acquisitions

• More than 65 successfulacquisitions since 2004

• Increased revenues and profitability of acquired companies

• Experience in integrating knowledge of local markets, customer relations and innovative solutions

20122004 2005 2006 2007 2008 2009 2010 2011 2013 2014 2015

2004• Asseco acquires

Slovak AssetSoft

2007-2009• Asseco expands in

Poland (Softbank and Prokom acquisitions)

• Expansion into markets in Western Europe

• Expansion in Scandinavia

• Entrance into South Eastern Europe

2016

2013-2014• Asseco expands

to the East: R-Style Softlab in Russia, Asseco Georgia and Asseco Kazakhstanacquisitions

• First staps in African Market: Asseco in Nigeria

2015-2016• Portuguese

Exictosjoins Asseco

• Successful bid for Infovide-Matrix

• Further expansion in Israel – Roshtov Software, TSG acquisitions

2017• StoneRiver

acquisition in the U.S.

• Macrologic acquisition

• Slovak CEIT joins Asseco

• Michpal Micro Computersacquisition in Israel

2017 52018

2010• Asseco Poland acquires

Israeli Formula Systems

• Asseco acquires Necomplus Group

• Asseco Poland merges with ABG SA

2018• Further

expansion to U.S. – Adaptic acquisition

Proprietary software

6

80%

8%

12%

0%

8,703mPLN

Main focus: proprietary software and services (pro form*)

Figures in millions of PLN.

Proprietary software and services 6,992 +10% 6,351

Third-party software and services 653 +4% 627

Hardware and infrastructure 1,055 +11% 950

Other sales 3 -26% 4

Sales revenues 8,703 +10% 7,932

2017* %∆ 2016

* including the revenues in the Israeli market for the period non-consolidated by Asseco Group, i. e. VIII-IX 2017

7

Products adapted to different client needs

Dedicated solutions

Comprehensive solutions for

various sectors

Standard software packages

Cloud solutions

• Solutions designed to individual customer needs

• Solutions designed and developed for several large and medium-sized customers

• Standard solutions for a large number of small and medium-sized customers

• Solutions available to customers online

8

Federation model

9

The model comes from unique M&A’s approach

Federation model of growth

• Asseco Group is a group of quasi-independent subsidiaries

• Asseco usually buys more than 50% of equity but rarely 100%

• In principle we keep the people, managers and products after the acquisition

• Asseco is present in supervisory board or board of directors of acquired companies

• Asseco Poland is the leader of the Group10

Advantages of federation

Local expertise and experience

Knowledge of clients, environment, specifics

Locally well-known, trusted products

Local people with local language

Being „fair” to local government(taxes, employer)

Support entrepreneurship

Possiblesynergy effects

within the whole Asseco

Group

11

Geography - our offices worldwide

The Asseco Group12

Diversification

13

3,456 +11% 3,128

3,409 +11% 3,062

1,838 +6% 1,742

Sales revenues 8,703 +10% 7,932

40%

39%

21%

General Business

Banking and Finance

Public Institutions

Strong top line diversification between businesses

20 years: average customer tenure for our top 5 clients

14%: 10 biggest customers accounts for 14% of revenues

82%

18%Foreign

Domestic

8,703mPLN

2017* %∆ 2016

8,703mPLN

* including the revenues in the Israeli market for the period non-consolidated by Asseco Group, i.e. VIII-IX 2017

14

Long term growth

15

Consistently strong financial performance (pro form*)

Revenue (PLN millions)

EBIT (PLN millions)

Source: Company data

1,2822,787 3,050 3,238

4,960 5,529 5,780 6,232 7,256 7,932 8,703

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 PF*

237494 526 566 645 652 599 637 745 769 685

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 PF*

* including the results in the Israeli market for the period non-consolidated by Asseco Group, i.e. VIII-IX 2017 and excluding impact of recalculation of: i) amortization charges on intangible assets recognized in purchase price allocation as well as ii) costs of share-based payment transactions with employees resulting from regain of control over Formula Systems

16

Asseco Poland's dividend yield vs WIG20 companies

5.9%

0,0%

1,0%

2,0%

3,0%

4,0%

5,0%

6,0%

7,0%

8,0%

Asseco Poland's dividend yield vs WIG20 companies

*Dividend yield calculated on the day of its payment in 2017.

One of the highest in comparison with WIG20 companies

17

33

70

100

140

170

200 216

241 250 250 250

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017*

Consistent implementation of our dividend policy

Over PLN 1.67 billionpaid dividends

mPLN 3.01 DY:6.7%**

3.01DY: 5.9%

3.01DY: 5.0%

2.90DY: 6.3%2.60

DY: 5.7%2.41

DY: 5.0%2.19DY: 4.1%

1.80DY: 2.9%

1.47DY: 3.1%1.03

DY: 1.4%

0.55DY: 1.1%

*The dividend payment for 2017 was approved by Annual General Meeting on 25th April 2018. The dividend was paid out on 7th June 2018. ** Dividend yield as at 7th June 2018. 18

Shareholder structure

AVIVA BZ WBK Pension Fund

15.04%

Adam Góral9.74%

PZU Pension Fund

5.16%

NN Pension Fund

5.03%

Other shareholders

65.03%

Stable and long term shareholders(including CEO)*

Number of shares and votes at GMS

Voting interest atGMS

Aviva Pension Fund 12,485,596 15.04%

Adam Góral 8,083,000 9.74%

PZU Pension Fund 4,281,040 5.16%

NN OFE 4,171,121 5.03%

Other shareholders 53,979,546 65.03%

83,000,303 100%

19

Financial information2017

20

Consolidated financial highlights 2017 (pro form*)

PLN 8,703 mSales revenues

+10%

PLN 685 mEBIT

-11%

PLN 6,992 mProprietary software and services

+10%

PLN 1,014 mEBITDA

-5%

* including the results in the Israeli market for the period non-consolidated by Asseco Group, i.e. VIII-IX 2017 and excluding impact of recalculation of: i) amortization charges on intangible assets recognized in purchase price allocation as well as ii) costs of share-based payment transactions with employees resulting from regain of control over Formula Systems

21

26.31%

Asseco Poland

Asseco International

Formula Systems 100.0%

Israeli market

Polish market

Foreign markets

Simplification of the Asseco Group’s structure

Establishment of Asseco International:

→ Separation of Asseco Poland's operating activities from those conducted for the benefit of the Group's development, as well as more effective management of the Group's international development.

→ Building the Asseco Group's value on the basis of its international assets – the establishment of a holding company with the prospect of dynamic development and the possibility of its public offering on international markets.

22

Sapiens

Matrix IT

Magic Software

48.67%

49.50%

47.15%

Michpal

TSG

100.00%

50.00%

92.81%

Asseco Spain

70.32%

Necomplus

65.00%

Exictos

69.40%

Asseco Lithuania

96.94%

PeakConsulting

70.00%

Asseco Denmark

55.00%

51.00%

Asseco Nigeria

Asseco SouthEastern Europe

51.06%

R-Style Softlab

49.00%

Asseco Georgia

Asseco Kazakhstan

51.00%

51.00%

Asseco Enterprise Solutions

Asseco Central Europe

Asseco Data Systems

100.00%

Dahliamatic

ZUI Novum

SKG

Asseco Business Solutions

100.00%

51.00%

60.00%

26.31% Asseco Poland


Formula Systems

100.0%

46.47%

Israeli market Polish market International markets

The Group’s key companies, share in capital 23

Booking profit from the investment in Formula Systems

*) As at December 31, 2017

Asseco Poland buys51% stake

in Formula Systems for PLN 427 million

Asseco Poland holds26% stake

in Formula Systems worthPLN 570 million

2010 2017

Asseco Poland as a shareholder:

→ Gained PLN 463 million from the investment and still holds a stake worth PLN 570 million.

→ Remains the largest shareholder of Formula Systems and executes control over the company.

Dividends receivedPLN 96million

Sale of 20% stake inFormula Systems

PLN 367million

TotalPLN 463

million

24

The Group's development - new acquisitions in the Group

Slovakian producer of innovative solutions,

among others, in the field of industrial

automation and robotics. The dominant

area of the company's activity are R&D

activities for the automotive industry

Polish producer of software for

companies and businesses, specializing in

the production and implementation of

proprietary ERP software.

A company offering services in the field of application development, business analysis and education.

Michpal MicroComputers – Israeli

company operating in the market of HR

and payroll software.

Purchase of stake by

Asseco Bussines Solutions



Purchase of stake by a

company from the Magic

Software Group


Formula Systems

American manufacturer of advanced

insurance software (Sapiens).Purchase of stake by

Sapiens International


Sapiens International

American software producer specializing in solutions for insurance companies.

25

General business sector (pro form*)

2017 2016 Change

Polish market 599.1 567.3 +6%

Israeli market 2,066.8 1,871.6 +10%

Other international markets 795.5 693.9 +15%

Central European market 426.7 337.6 +26%

South Eastern European market 91.5 88.6 +3%

Western European market 276.5 265.9 +4%

Eastern European market 0.8 1.8 -55%

Asseco Group** 3,456.2 3,127.6 +11%

2,258 2,513 2,829 3,128 3,456

2013 2014 2015 2016 2017

Revenues (in mPLN)

• Increase in revenues in the general business sector, driven by international markets.

• Sales growth and further development of the ERP segment in Poland and Central Europe.

* Including the revenues in the Israeli market for the period non-consolidated by Asseco Group, i.e. VIII-IX 2017.** Data including a consolidation adjustment.

26

Banking and finance sector (pro form*)

2,031 2,214 2,688 3,062 3,409

2013 2014 2015 2016 2017

Revenues (in mPLN)

• Double-digit increase in sales of Sapiens in 2017 thanks to an acquisition on the American market.

• Improved results in Central Europe (ACE) and Western Europe.

2017 2016 Change

Polish market 450.0 489.4 -8%

Israeli market 2,151.6 1 774.3 +21%

Other international markets 840.4 850.1 -1%

Central European market 109.3 100.3 +9%

South Eastern European market 434.5 440.3 -1%


Eastern European market 10.0 51.7 -81%

Asseco Group** 3,409.1 3,062.4 +11%


27

Public institutions sector (pro form*)

1,491 1,505 1,738 1,742 1,838

2013 2014 2015 2016 2017

Revenues (in mPLN)

• Impact of drop in orders and stagnation in the public tender market in Poland.

• Higher sales and stronger position and in the public sector in Israel.

• Significant growth of sales on the Western European market.

2017 2016 Change

Polish market 510.0 593.5 -14%

Israeli market 947.1 753.2 +26%

Other international markets 384.0 397.4 -3%

Central European market 257.4 298.3 -14%

South Eastern European market 44.9 41.7 +8%


Eastern European market 6.6 6.1 -

Asseco Group** 1,837.8 1,742.0 +6%


28

29

Consolidated order backlog for 2018 vs. 2017

1,040 1,102

3,737 3,760

1,393 1,718

2017 2018

Sales revenues

6,170 6,580

889 947

3,338 3,432

1,1191,309

2017 2018

Proprietary software and services

5,3465,688

+1%

+23%

+6%

+3%

+17%

+7%Polish market

Israeli market

International markets

Figures in mPLN; When calculating the backlog for 2018 according to the exchange rates used for calculating the backlog for 2017, the change amounts to: +11% in total revenues/+10% in proprietary software and services.Value of the backlog for 2018 as at May 23, 2018; value of the backlog for 2017 as at May 19, 2017

Plans for 2018-2019

30

Formula Systems

• Remains the Asseco Group's strategic investment.

• Synergy in the promotion and sale of products:

→ for Asseco Poland: in entering the US market

→ for FS's companies: in development in the countries where the Asseco Group’s companies have been operating (in particular in the insurance sector -Sapiens)

• The scale of joint operations is significant when selecting the Asseco Group's companies as providers of IT solutions, as well as when cooperating with global partners.

Sapiens

Matrix IT

Magic Software

48.67%

49.50%

47.15%

Michpal

TSG

100.00%

50.00%

Formula Systems

31


• A holding company whose objective is to manage and develop the Asseco Group's companies onforeign markets.

• The leader of the project is Jozef Klein, CEO of Asseco Central Europe, the Entrepreneur of the Year 2017 in Slovakia.

• The Management Board is composed of managers from Poland: Przemysław Sęczkowski, Marek Panekand Rafał Kozłowski.

• The Supervisory Board is composed of Adam Góral, Piotr Augustyniak and Jacek Duch.

32

92.81%

Asseco Spain

70.32%

Necomplus

65.00%

Exictos

69.40%

Asseco Lithuania

96.94%

PeakConsulting

70.00%

Asseco Denmark

55.00%

51.00%

Asseco Nigeria

Asseco SouthEastern Europe

51.06%

R-Style Softlab

49.00%

Asseco Georgia

Asseco Kazakhstan

51.00%

51.00%

Asseco Enterprise Solutions


Asseco Business Solutions

46.47%



• Supervision, development strategy and operations associated with capital markets, carried out at the level of the holding company (AI).

• Operating activities at the level of subsidiaries.

• Development of specialized companies operating in various sectors (Payments, ERP) and the cooperation with Asseco Poland in the areas of banking, healthcare, and utilities.

• Providing services to the public and general business sectors through company operations in individual countries.


Sectors / Competences

• Payments• ERP

• Banking• Healthcare• Utilities

General Business

• Countries• Government

33

Further development and strengthening of sector positions -banking

Competence Center / Sector

RevenuesAsseco Group

Key Products Competition

BankingEUR 318 million

• Asseco def3000

• Asseco CBP

• Asseco ABP

• JIMBA by ASEE

• Digital Edge by ASEE

• PUB 2000 CBS by ASEE

• StarBUILD by ACE

• BANKA by Exictos

• Temenos (T24)• FIS (Profile)• Infosys (Finacle)• Oracle (Flexcube CBS)• Fiserv (Signature,

Agillity)• Misys (FBE)• Backbase (Digital

Platform)• eBankIT (Omnichanel

Banking)

34

€ 12 € 65 € 100 € 225 € 228 € 318 € 351 € 461 € 475 € 564 € 570 € 811

€ 1 200

€ 5 300

€ 9 241

€ -

€ 1 000

€ 2 000

€ 3 000

€ 4 000

€ 5 000

€ 6 000

€ 7 000

€ 8 000

€ 9 000

€ 10 000

C A P I T A L B A N K I N G

S O L U T I O N S

E R I B A N C A I R E

S A M L I N K M U R E X S D C A S S E C O S O P R A B A N K I N G

S O F T W A R E

I N D R A( F I N A N C I A L S E R V I C E S )

A V A L O Q T E M E N O S O R A C L E( F I N A N C I A LS E R V I C E S )

M I S Y S F I D U C I A F I S E R V F I S

PRODUCERS OF SOLUTIONS FOR THE BANKING SECTOR (IN MILLIONS)

Asseco in the banking software sector

35

Further development and strengthening of sector positions - ERP

Competence Center / Sector

RevenuesAsseco Group

Key Products Competition

ERPEUR 131 million

• Safo ERP by Asseco

• Softlab ERP by Asseco

• Macrologic ERP by Asseco

• Wapro ERP by Asseco

• Applus by ASOL GE

• SPIN by ASOL SK

• HELIOS by ASOL SK & CZ

• Sage• IFS• Quad• Infor• EXACT• UNIT4• Comarch• AFS Technologies• StayInFront• Softip• SAP• Microsoft• Oracle

36

€ 14 € 18 € 21 € 28 € 30 € 40 € 41 € 53 € 131

€ 180 € 227

€ 294 € 308

€ 361

€ 600

€ 807

€ 924

€ -

€ 100

€ 200

€ 300

€ 400

€ 500

€ 600

€ 700

€ 800

€ 900

€ 1 000

S O F T I P( S K )

D I V A L T O( F R )

P R I M A V E R A( P T )

S O L I T E A( C Z )

M O N I T O R E R P

( S E ) ( 2 0 1 5 )

S I N G U L A RL O G I C

( G R )

L O G O( T R )

Z U C C H E T T I( I T )

A S S E C OG R O U P

( P L )

T O T A LS P E C I F I C

S O L U T I O N S( N L )

E X A C T( N L )

T E A MS Y S T E M

( I T )

C E G I D( F R )

I F S( S E )

U N I T 4 ( N L )

V I S M AG R O U P

( N O )

S A G E( U K )

EUROPEAN PRODUCERS OF THE ERP SYSTEMS (IN MILLIONS)

Asseco in the ERP sector

37

Our approach to acquisitions

Asseco is interested in companies that allow for increasing competences in specific sectors and for entering new geographical regions

Preferred sectors:

• Finance and banking

• ERP

• Healthcare

• Cyber security

We are interested in technological companies which:

• Generate profits

• Offer development prospects

• Develop proprietary IT products

• Offer attractive valuations

• Offer engaged and motivated managementteams

Start-ups offering technological products and experienced IT teams

Preferred geographical regions:

• Europe – all countries

• US - banking sector

38

Our goal: long-term and stable growth

1. We rely on our proprietary software and related services.

2. We focus on the business needs of our customers.

3. We develop high cross-sector competences.

4. We employ the best programmers and IT specialists.

5. We cooperate with global suppliers of technology and IT solutions.

6. We build value for our shareholders and share successes in the form of dividends.

7. We are a socially engaged company supporting the development of the Polish economy.

The Asseco Group - European software producer established and developed by the Poles

39

Financial Information

40

Growth in revenues

Figures in millions of PLN* including the revenues in the Israeli market for the period non-consolidated by Asseco Group, i.e. VIII-IX 2017 and excluding impact of SBP&PPA recalculation due to regain of control over Formula Systems**Non-IFRS figures including adjustments for: i) income recognized in purchase price allocation, ii) amortization charges on intangible assets recognized in purchase price allocation as well as iii) for the costs of share-based payment transactions with employees*** PPA i.e. amortization charges on intangible assets recognized in purchase price allocation ; SBP i.e. costs of share-based payment transactions with employees

2017 PF* 2017 2016 Δ PF* Δ Q4 2017 Q4 2016 Δ

Revenues 8,703.2 7,830.5 7,932.0 +10% -1% 2,427.0 2,259.1 +7%

Proprietary software and services 6,991.9 6,235.1 6,351.0 +10% -2% 1,871.4 1,776.7 +5%

EBITDA 1,013.7 921.9 1,069.5 -5% -14% 280.6 283.1 -1%

EBITDA margin 11.6% 11.8% 13.5% -1.8 p.p. -1.7 p.p. 11.6% 12.5% -1.0 p.p.

Operating profit non-IFRS 818.9 743.5 883.0 -7% -16% 237.8 234.5 +1%

Operating profit margin non-IFRS 9.4% 9.5% 11.1% -1.7 p.p. -1.6 p.p. 9.8% 10.4% -0.6 p.p.

PPA & SBP*** -133.4 -158.7 -113.6 +17% +40% -79.4 -31.5 +152%

Operating profit 685.5 584.8 769.4 -11% -24% 158.4 203.0 -22%

Operating profit margin 7.9% 7.5% 9.7% -1.8 p.p. -2.2 p.p. 6.5% 9.0% -2.5 p.p.

41

Reconciliation of operating profit and net profit

2017 2016 Δ Q4 2017 Q4 2016 Δ

Operating profit 584.8 769.4 -24% 158.4 203.0 -22%

Interest expense -40.7 -37.9 -14.8 -8.4

Foreign currency transactions -39.2 -4.5 -3.2 5.8

Other 271.6 -7.1 -14.7 -1.4

of which: gain/loss on transactions associated with company acquisitions

-23.4 -6.1 43.8 -1.4

gain/loss on transactions associated with company sales 313.3 6.0 -48.4 6.0

dividends paid to non-controlling shareholders -5.1 -6.0 0.0 -5.8

Pre-tax profit 776.5 719.9 +8% 125.7 199.0 -37%

Income tax -122.0 -179.0 -32% -10.2 -51.7 -80%

effective tax rate 15.7% 24.9% 8.1% 26.0%

Share of profits /losses of associates -37.7 2.7 -1,496% -0.5 -0.9 -

Net profit 616.8 543.6 +13% 115.0 146.4 -21%

Net profit attributable to shareholders of the parent company 466.6 301.3 +55% 64.7 76.8 -16%

-39.7: write-down for the investment in associate R-Style Softlab

+2.0: other

+359.0: result on loss of control over Formula Group (before tax)-40.9: write-down of deferred payment from the sale of shares in R-Style Softlab

and result on sales-4.8: other transactions

-80.1: impairment of goodwill in segment Public Administration in Asseco Poland -15.9: write-down for the investment in Sintagma-2.1: write-down for the investment in Asseco Georgia-1.1: write-down for the investment in Asseco Kazakhstan-0.9: write-down for the investment in Asseco Nigeria

+76.2: revaluation of shares in Formula Systems to fair value+0.5: other transactions

Figures in millions of PLN42

Financial results of regions and subsidiariesSales revenues Operating profit

Net profit – contribution to Asseco Poland

2017 PF* 2017 2016 2017 PF* 2017 2016 2017 2016

Polish market** 1,559.1 1,559.1 1,650.2 213.4 213.4 258.6 28.2 167.4Asseco Poland (excl. dividends, excl. one-offs; PF 2016)** 861.2 861.2 952.2 120.7 120.7 192.0 53.8 145.3

Asseco Business Solutions 212.8 212.8 168.8 62.0 62.0 51.6 22.8 19.7Asseco Data Systems (PF 2016)** 357.5 357.5 361.7 8.3 8.3 10.0 3.7 6.1

Other companies 208.2 208.2 225.4 22.6 22.6 11.1 3.2 3.0impairment of goodwill in public segm. (officially in A. Poland) -80.1

elimin. of interco. loan write-offs in A. Poland (no impact on cons. result) 23.9other consolidation adjustments -80.6 -80.6 -57.9 -0.3 -0.3 -6.0 0.9 -6.7

Israeli market 5,165.6 4,292.9 4,399.0 286.0 185.3 343.4 405.5 37.4

Matrix IT 3,024.8 2,517.9 2,634.4 207.7 170.4 192.7 23.6 27.0

Magic Software 983.3 819.4 800.1 100.2 84.2 85.9 10.8 12.3Sapiens Int. 1,024.9 845.1 857.3 6.9 -1.4 99.6 -1.7 17.6

Other companies 148.6 126.5 136.4 -5.1 -5.0 -16.2 -14.4 -15.4result on sale of shares and fair valeu remeasurement of Formula Systems 400.6

consolidation adjustments -16.1 -16.1 -29.2 -23.7 -62.9 -18.6 -13.4 -4.1Other international markets 2,019.8 2,019.8 1,941.4 187.3 187.3 167.6 33.7 96.9

Central European market 793.4 793.4 736.1 70.4 70.4 66.9 55.2 48.0South Eastern European market 570.9 570.9 570.6 65.9 65.9 56.4 28.7 26.3

Western European market (excl. write-offs) 638.2 638.2 575.1 52.0 52.0 55.6 24.5 30.9Eastern European market (excl. write-offs) 17.4 17.4 59.6 -1.0 -1.0 -11.2 -2.4 -8.3

adjustments (write-offs related to WE and EE markets) 0.0 0.0 0.0 0.0 0.0 0.0 -72.3 0.0

Consolidation adjustment -41.3 -41.3 -58.6 -1.2 -1.2 -0.3 -0.8 -0.4

Asseco Group 8,703.2 7,830.5 7,932.0 685.5 584.8 769.4 466.6 301.3

* * including the results in the Israeli market for the period non-consolidated by Asseco Group, i.e. VIII-IX 2017 and excluding impact of recalculation of: i) amortization charges on intangible assets recognized in purchase price allocation as well as ii) costs of share-based payment transactions with employees resulting from regain of control over Formula Systems** For the companies from the Polish market, the 2016 data are pro forma figures, ie taking into account changes in the structure of the market

43

Figures in millions of PLNNon-IFRS figures including adjustments for: i) income recognized in purchase price allocation, ii) amortization charges on intangible assets recognized in purchase price allocation as well as iii) for the costs of

share-based payment transactions with employees* Excluding investments in investment property, net of grants received.** CFO+CAPEX.*** Free cash flow / non-IFRS EBIT

Generated cash flows

Asseco Group Asseco Poland

2017 2016 2017 2016

CFO 863.1 1,032.0 111.4 176.0

CAPEX* -214.7 -210.7 -15.3 -24.3

Free cash flow** 648.4 821.3 96.1 151.7

Cash conversion*** 87% 93% 73% 75%

44

Total revenues including consolidation adjustments** Excluding the Israeli market revenues in the period non consolidated by the Asseco

Group, i.e. in the period of August-September 2017 the revenues amounted to PLN 4,293 million, i.e. -2% lower than in 2016.

The Asseco Group in 2017 – geographical regions (pro form*)

1,559

5,166

2,020

8,703mPLN+10%

Israeli market**

+17%

Polish market

-6%

Other international markets

+4%

* Including the Israeli market revenues in the period non consolidated by the Asseco Group, i.e. in the period of August-September 2017.

Polish market

• Development of exports of products for the Banking and Finance sector.• Supporting customers in their adaptation to legal changes in the Banking

and Public sectors.• The first signs of recovery in the public market.

Israeli market

• Increase in the scale of operations on international markets - new companies in the Group, including US StoneRiver.

Other international markets

• Expanding the offer of IT products and services for the industry through the acquisition of Slovak CEIT. Further dynamic development in the ERP sector - the Central European market.

• Double-digit increase in ASEE's operating profit and its stable revenues. Sales growth in the payments segment, improved results in the banking and integration sectors - the South Eastern European market.

• Sales growth in all three key sectors - the Western European market.

45

Legal disclaimerThe contents of this presentation are copyright protected and constitute proprietary information. All texts,graphics, photographs, sound, animations and videos, as well as their layout in the presentation are protected underthe Act on copyright and related rights as well as by other applicable regulations. Unauthorized use of anymaterials contained in this presentation may constitute an infringement of copyright, trademark or other laws.Materials available in this presentation cannot be modified, reproduced, disclosed or performed in public,distributed or used for other public or commercial purposes, unless it is expressly permitted in writing by AssecoPoland S.A. Copying for commercial use, distribution, modification or acquisition of the contents of this presentationby third parties is strictly prohibited. This presentation may include references to product and service offerings ofthird parties. The terms and conditions for the use of third-party products and services are defined by such thirdparties. Asseco Poland S.A. will in no way be responsible or liable for the conditions or consequences of using suchthird-party products and services. The data and information contained herein constitute general informationonly. This presentation has been prepared with the help of Inscale company products.

The name and logo graphic of Asseco Poland S.A. are registered trademarks. Any use of these trademarks shallrequire prior express consent of Asseco Poland S.A

2017 © Asseco Poland S.A. 46

Prezentacja programu PowerPoint - Asseco · 80% 8% 12% 0% 8,703 mPLN Main focus: proprietary...

Documents

Transcript of Prezentacja programu PowerPoint - Asseco · 80% 8% 12% 0% 8,703 mPLN Main focus: proprietary...