Title of presentation - Asseco12 Consolidated Revenue 2010 Product and Segment breakdown 64% 17% 1%...

Asseco Poland Solutions for Demanding Business

www.asseco.pl/en

General Information

Financial Highlights

Business Outlook

Appendix

Agenda

1

2

General Information

Our mission is to build the trustworthy and profitable global

IT company providing our customers with high quality

software and services

Company profile:

• The largest Polish IT company listed on WSE

• Among the TOP10 software producers in Europe

• Companies from Asseco Group are listed on WSE, TASE and NASDAQ

• Focused on selling proprietary software and services

• Strong financials with great track record

• 2010 net profit of PLN 415 m

• Positive cash position

• 10%-40% Dividend payout

Product Offer – Software for Different Sectors

3

Financial Public administration General Business

Banks Government Telco

Insurance companies

Municipalities Utilities

Brokerage houses

Healthcare Power industry

Investment funds

International organisations

Gas industry

Leasing companies

Social security Manufacturing, trade and services

Factoring companies

Uniformed services

FMCG

Mortgage savings

Education Multimedia

35

45

55

65

75

10-12-01 11-03-01 11-06-01 11-09-01

Asseco shares traded with 23% discount to consensus target price2)

Asseco Av.

4

Market Data and Stock Performance

1) Year-end closing price; 2) 2010 Asseco market share prices, figures in PLN. Target prices from 12 Brockerage Houses; Discount calculated as yearly average consensus /64.0/ to yearly average share price /49.0/

2011/11/25 %∆ YE ’101)

Share price 46.24 -12.8% 53.00

P/E 8.64 -12.8% 9.90

Av. daily trade [tho] 5,809 -39.1% 9,532

Dividend policy 10%-40% of net profit

Shares outstanding 77.565.530

Shareholding structure at GSM as at 2011/09/21

AVIVA pension fund 11.35%

Adam Góral /CEO/ 10.42%

PZU pension fund 6.45%

ING pension fund 5.16%

Free Float 66.62%

Codes:

Bloomberg code ACP PW

Reuters code ACPP.WA

Warsaw Stock Exchange ACP

23%

11-11-25

6

European Presence

Shareholding: 51.96%






Truffle 100 ranked Asseco 7th European software vendor in 2010

Asseco Group in the world

7

- Asseco Group

Poland

Israel

Central Europe

South Eastern Europe

DACH

South Western Europe

Northern Europe

Asseco Group Business Units

9

Ban

kin

g

Leader:

Zbig

nie

w P

om

ianek

Pu

bli

c A

dm

inis

trati

on

Leader:

Prz

em

ysła

w B

orz

esto

wski

Healt

hcare

Leader:

Mare

k G

rac

In

su

ran

ce

Leader:

Roni Al.-D

or

ER

P

Leader:

Marc

us H

aller

Telc

o &

Uti

liti

es

Leader:

Paw

eł Piw

ow

ar

IT I

nfr

astr

uctu

re

Leader:

Wojc

iech W

oźnia

k

General Information


Business Outlook

Appendix

Agenda

10

11

Financial Results from Top to Bottom

2 787 3 050

3 238

2 000

2 500

3 000

3 500

2008 2009 2010

Consolidated Revenues

2Y CAGR 7.8%

1 591

1 975 2 068

1 000

1 500

2 000

2 500

2008 2009 2010

Proprietary software

2Y CAGR 14.0%

592 646

695

250

400

550

700

2008 2009 2010

EBITDA 2Y CAGR 8.4%

494 526 569

250

400

550

700

2008 2009 2010

EBIT

2Y CAGR 7.3%

322

373 415

250

400

550

700

2008 2009 2010

Net Profit

2Y CAGR 13.6%

Figures in PLN millions

12

Consolidated Revenue 2010 Product and Segment breakdown

64%

17%

18% 1%

2010 %∆ 2009

Proprietary software and services 2,068 4.7% 1,975

Third-party software and services 558 8.1% 516

Hardware and infrastructure 592 9.4% 541

Other sales 20 12.9% 18

Total Revenues 3,238 6.1% 3,050


36%

32% 32%

Banking and finance 1,175 6.0% 1,108

Enterprises 1,036 -9.4% 1,144

Public Institutions 1,027 28.7% 798

Total Revenues 3,238 6.1% 3,050

13

Backlog of Orders for 2011 (in comparison to actual results for 2010)

3 238

4 655

0

1 600

3 200

4 800

2010 2011

Sales revenues

144%

2 068

3 416

0

1 600

3 200

4 800

2010 2011


165%

1 168 1 284

0

500

1 000

1 500

2010 2011

Sales revenues

110%

813 843

0

500

1 000

1 500

2010 2011


104%

Figures in millions of PLN; orders backlog as at 9 November 2011

CONSOLIDATED

STANDALONE

General Information


Business Outlook

Appendix

Agenda

14

15

Banking and Insurance Divisions

Successes in 1Q-3Q 2011 PZU Group – implementation of Oracle eBS ERP system

PZU SA – prolongation of support for IBM Informix database (Asseco Insurer System)

ING – insurance system dedicated to group insurances

ING Bank – development of e-Banking system

Getin Noble Bank – development of def3000/TLR Teller – sales support system

PEKAO SA – upgrading of credit risk management systems and SARA system

Deutsche Bank PBC – development of e-Banking system

Hot opportunities

Volkswagen Bank Polska – Core Banking System

BGK – Core Banking System

PKO BP – Data warehouse project, new FrontEnd (def3000/UFE) and CRM (Star CRM) solutions and new Treasury system (Tresus)

Key Accounts

Bank PKO BP

PZU Insurance Group

Bank Ochrony Środowiska

Bank Gospodarki Żywnościowej

ING Bank

Getin Noble Bank

Deutsche Bank PBC

Cooperative Banking Group

16

Public Administration Division

Successes in 1Q-3Q 2011 Agricultural Social Insurance Fund (KRUS) – development

of comprehensive Database

Ministry of Education – education and e-learning platforms

Central Office of Geodesy and Cartography – implementation and maintenance of IT system to support the INSPIRE program (UE requirement), and development of GEOPORTAL 2 system

Ministry of Finance – execution of a comprehensive system to support business start-up processes, along with training applications

Hot opportunities

e-health / RUM– implementation of central health system

Silesian e-card – implementation of multifunctional card system in Silesia

Key Accounts

Social Insurance Institution (ZUS)

Agency for Restructuring and Modernization of Agriculture (ARiMR)

Ministry of Interior and Administration

National Healthcare Fund (NFZ)

Agricultural Social Insurance Fund (KRUS)

Central Statistical Office (GUS)

17

Enterprises Division

Successes in 1Q-3Q 2011

ITI Group – Value Added Services (SMS, MMS, IVR Video) on the Asseco platform

PKP Informatyka – maintenance support and development of the existing IT infrastructure

TP Group – development of the advertising management system

EnergiaPro – Readouts Collection System (ADO)

PGNiG – supply of hardware and IBM WSRR systems

Vattenfall – supply of internet customer services center

PGE – implementation and maintenance of Asseco UMS system (Utility Management Solution)

Hot opportunities

Tauron Group – Network Estate Management & Centralization of Billing Systems

Key Accounts

Telekomunikacja Polska

PTK Centertel

Lotos Group

PGE Dystrybucja

Energa

PGNiG

PKN Orlen

Tauron

Vattenfall

General Information


Business Outlook

Appendix

Subsidiary Companies

Selected References

Other Financial Information

Agenda

18

Financial Figures Regional Revenue, EBIT and Net Profit Contribution – Q1-Q3 2011

19

* Sum of total net profits (without dividends) of the members of each group.

** Net profit adjusted (without dividends).

PL 33%

Formula 38%

ACE 10%

ASEE 9%

Other 10%

Revenue contribution

PL 57%

Formula 23%

ACE 11%

ASEE 7%

Other 2%

EBIT contribution

PL 50% Formula

29%

ACE 11%

ASEE 8%

Other 2%

Net Profit (100%) contribution*

PL 72%

Formula 14%

ACE 7%

ASEE 6%

Other 1%

Net Profit contribution**

Financial Figures Regional Employment Contribution

20

Total employment*: 14 168

* Average Q1-Q3 2011 employment as in the reporting packages at 30-09-2011 (with the exception of Sapiens (Formula Group) for which the average employment is calculated on the following assumptions: average employment in Q1-Q2 2011 = 388 (as in the reporting package at 30-06-2011), average employment in Q3 2011 = 0.)

Formula Group; 6 257; 44%

PL ; 4 251; 30%

ACE; 1 516; 11%

ASEE; 1 188; 8%

Other; 956; 7%

Employment contribution*

Banking and Finance Bank PKO BP, Polish Insurance Institution, Bank Ochrony Środowiska, Bank Gospodarki Żywnościowej, ING Bank, Getin Noble Bank, Deutsche Bank PBC, Allianz Bank, Group of co-operative Banks Enterprises Polish Telecomunication, PTK Centertel, Lotos Group, PGE, Energa, PGNiG, PKN Orlen, Tauron, Vattenfall Public Administration Social Insurance Institution, Agency of Development and Modernization of Agriculture, Ministry of Interior Affairs, National Health Fund, Agricultural Social Insurance Fund, General Statistical Office

Core competences and important facts

def3000 – is an advanced IT suite providing comprehensive services for banks of various operating profiles. Its modularity enables clients to purchase and deploy only needed software, realizing substantial savings. The def3000 can be tailored to fit client. Asseco Poland SA has been a partner to the world’s leading banks and financial institutions for many years.

Promak Plus - is a state-of-the-art system that ensures end-to-end support for a brokerage house on the financial instruments secondary market (both domestic and foreign) with regard to front-office (customers, orders) and back-office (accounting, reporting).

KSI ZUS – Tailor made solution for social security Softlab / Safo / WaPro – Asseco ERP solutions improves works in such

areas as, finance and accounting, human resources, payroll, sales, logistics, controlling, production, BI or WMS. Application flexibility allows you to create a dedicated industry-specific solutions, as well as their adaptation to the required business model virtually any type of organization.

Billing systems for telecoms, utilities and energy sector Systems for hospitals and clinics Complete solutions in areas: Hardware, Operational systems &

databases, Infrastructure, Information exchange

Main customers In brief

Asseco Poland is the largest IT company listed on the Warsaw Stock Exchange. It specializes in the production and development of software. Asseco successfully provides its products and services for the each segment of economy. Asseco Poland S.A. is also a key driver in building multinational group of profitable information technology companies.

21

Poland Region Introduction

Asseco Poland MCAP PLN m

3 572 3 566 3 758 3 875

3 000

3 250

3 500

3 750

4 000

2007 2008 2009 2010

32%

26%

42%

62% 21%

17% 1%

22

Poland 2010 Product and Segment Breakdown*

2010 %∆ 2009

Proprietary software and services 1 147 -1,2% 1 161

Third-party software and services 391 -3,1% 403

Hardware and infrastructure 302 40,5% 215

Other sales 15 -22,2% 20

Total Revenues* 1 854 3,1% 1 798

2010 %∆ 2009

Banking and finance 586 -18,7% 720

Enterprises 480 1,1% 475

Public Institutions 788 30,8% 603

Total Revenues* 1 854 3,1% 1 798

* Excluding consolidation adjustments; Figures in PLN millions

23

Financial Results from Top to Bottom Poland


1 775 1 825

1 172

382

0

700

1 400

2 100

2009 2010 1Q-3Q 2011

Total Revenues mln PLN

BL

1 555

420 419

289

0

150

300

450

2009 2010 1Q-3Q 2011

EBIT mln PLN

382

488

294

0

170

340

510

2009 2010 1Q-3Q 2011

NPAT (100%) mln PLN

367

466

281

0

170

340

510

2009 2010 1Q-3Q 2011

NPAT (for Asseco) mln PLN

Slovakia Slovak Saving Bank, Post Bank, UniCredit Bank, Slovak Insurance Company, Allianz, General Health Insurance Company, Tax Authority, Central, Slovak power engineering, Czech Building Society, 3 of 4 regional Water Distributors

Czech Republic Czech Building Society, ČSOB and ČSOB Insurance (members of KBC Group), Czech post, HVB Bank, Ministry of Transport, Ministry of Finance, Central Securities, Philip-Morris, E.ON, N-ERGIE Nurnberg, Skoda Auto, BMW AG, Bayer, BASF AG, Vattenfall Europe Mining AG, T-Mobile, Vodafone Hungary 60 healthcare institutions in Hungary (50% of Hungarian hospitals) Societe Generale, UniCredit, OTP Bank, Raiffeisen


StarINS - is an end-to-end, modular insurance system that allows for managing insurance agreements throughout their lifecycle, complete with secondary information management. StarINS covers and automates all insurance activities in a process-oriented, not product-oriented manner

GIS / TIS - field of geographical and technical information systems are LIDS (registration and management of immovable assets); TOMS

(management and operation of power, water, gas, or heat supply companies); AMES (territorial identification objects to records of buildings, their parts and facilities)

MedWorkS – IT system supporting hospital procedures. It is a unified system, which, at the same time, is made up of modules. In its 15-year existence have any system failure shutdowns occurred at any of the locations.

Public Administration – leading position on the slovak market in the field of development tailor-made solutions for the central and local government

SAP Consultants – broad experience in implementing comprehensive SAP solutions for companies and organizations irrespective of their size and business field


Asseco CE operates in Slovakia, Czech Republic and Hungary. It is one of the largest software houses in Slovakia, strongly positioned in the provision of information solutions for the public institutions, in particular healthcare. Asseco CE also provides solutions for financial institutions as well as global brand names of the enterprise and utilities sector

24

Central Europe Region Introduction

Asseco CE MCAP PLN m

727 458 482 505

0

200

400

600

800

2007 2008 2009 2010

27%

41%

32%

88%

5%

7%

0%

25

Central Europe 2010 Product and Segment Breakdown

2010 %∆ 2009

Proprietary software and services 113 -3,2% 116

Third-party software and services

6 89,6% 3

Hardware and infrastructure 8 -19,3% 10


Total Revenues* 127 -2,3% 130

2010 %∆ 2009

Banking and finance 35 23,9% 28

Enterprises 52 -20,5% 65


Total Revenues* 127 -2,3% 130

* Excluding consolidation adjustments; Figures in € millions

26

Financial Results from Top to Bottom Central Europe

Figures in € millions

130,3 127,3

89,8

38,0

0,0

50,0

100,0

150,0

2009 2010 1Q-3Q 2011

Total Revenues mln €

BL

127,9

14,0

9,6 12,1

0,0

5,0

10,0

15,0

2009 2010 1Q-3Q 2011

EBIT mln €

10,8 9,4

11,7

0,0

5,0

10,0

15,0

2009 2010 1Q-3Q 2011

NPAT (100%) mln €

4,3 3,7 4,7

0,0

5,0

10,0

15,0

2009 2010 1Q-3Q 2011

NPAT (for Asseco) mln €

Banking BU:

Unicredit Group, NLB Group, Raiffeisen bank, OTP Banka, Intesa Sanpaolo Bank , IS Bank, AK Bank, Volks Bank, Veneto Group, Komercijalna Banka, AIK bank, Agrobank System Integration BU:

National Institute Of Statistics (Romania), Bucharest City Hall Romania, Labour Inspection Romania, Romanian Court Of Accounts, Ministry Of Public Development And Housing (Romania), T-Home Macedonia, T-Mobile Macedonia, One – Slovenia Telecom Group, Ministry of Interior Macedonia, Ministry of Finance Macedonia, Ministry of Justice Kosovo


Experience Branch - Set of functional s/w modules designed for managing and monitoring business activities of bank branches in the general areas of product sales, maintenance, monitoring, and service of contracted business, measuring performance and achieving sales goals, maintaining contacts with clients. ASEBA JIMBA - Mobile banking solution based on the concept of Java or iPhone application installed on the client’s mobile device. Delivers simple way for interaction between the Bank and the clients using full featured mobile banking platform prepared for retail environment. ASEBA SxS - Single Point of Strong Authentication server specifically designed to meet the business and regulatory requirements of multi-channel organizations (financial institutions and other) enables simultaneous use of different types of end-user devices and cryptography standards. Nestpay - Nestpay is a developed e-Commerce Secure Payment platform. EST NestPay is designed to enable banks to offer card acquiring services to their web merchants. ITD IVN - ITD IVN® can manage thousands of calls without any agents in a short time with lower-costs. It has a flexible infrastructure capable of executing multiple and different voice automation processes simultaneously.


Asseco South Eastern Europe is one of the key players in the information technology market of South Eastern Europe. Currently ASEE is operating in 12 Countries (in particular Turkey, Romania, Macedonia, Serbia, Croatia) offering software and services mainly for Banks but aslo for other sectors.

27

South Eastern Europe Region Introduction

Asseco SEE MCAP PLN m

661 620

0

200

400

600

800

2009 2010

58%

30%

12%

36%

28%

36% 0%

28

South Eastern Europe 2010 Product and Segment Breakdown

2010 %∆ 2009

Proprietary software and services 40 18,0% 34

Third-party software and services 31 16,0% 27

Hardware and infrastructure 40 4,0% 39


Total Revenues* 112 11,8% 101

2010 %∆ 2009


Enterprises 34 -1,2% 34

Public Institutions 14 -2,8% 14

Total Revenues* 112 11,8% 101


29

Financial Results from Top to Bottom South Eastern Europe


100,6 112,5

78,1

25,1

0,0

50,0

100,0

150,0

2009 2010 1Q-3Q 2011


BL

103,2

12,8 12,8

8,9

0,0

5,0

10,0

15,0

2009 2010 1Q-3Q 2011

EBIT mln €

10,9 10,9 9,0

0,0

5,0

10,0

15,0

2009 2010 1Q-3Q 2011

NPAT (100%) mln €

6,6 5,7 4,7

0,0

5,0

10,0

15,0

2009 2010 1Q-3Q 2011


DACH

Brose, Deutsche Post, R+V Versicherungen, T-Systems, Lufthansa Systems, ZDF, ING DiBa, Infineon, Puma AG, TDS, Wincor, Swisscom, Cinemedia, Dillinger Hütte, Dlog, Doll Fahrzeugbau, Siemens Energy SMB, Schwede Worthmann, Phoenix Solar

South Western Europe

Acciona, Air Europa, Amadeus, Banesto, BBVA bank, Caja de Ahorros del Mediterráneo, Ericsson, Hewlett Packard, Hispasat, Iberdrola, Iberia, Inditex, Indra, La Caixa, Mahou, Radio Televisión Española, Santander Bank, Servired – Sermepa, Telefónica, Toyota

Northern Europe

AP Moller Maersk Group, Damco, JP Morgan Chase, Nets, Nordea, Novo Nordisk, Novozymes, Nykredit, PenSam, PFA, Procter & Gamble, Topdanmark, Tryg, Vestas


DACH - is the leading German Vendor for IT Workplace Management and ERP for single manufacturers, it is present through

Asseco Germany AG: Vendor of ERP software and product-related services (Consulting, Customizing, Support, Training)

Matrix42 AG: Vendor of Workplace Management Solution (for virtual & physical desktops) (Client Lifecycle-, Cloud-, SaaS-, Virtualization, and Service Management)

South Western Europe - is focused on solutions “Unique Business Solution” with high added value: Hardware + Services + Proprietary Software + e-Learning + Communications packs, proprietary software for transport sector (airline, ferry, bus and railway companies), payment cards solutions and Business Process Outsourcing

Northern Europe – In the Nordics Asseco is represented by IT consulting and management consulting companies that assists the largest blue chip companies in the finance-, life science -, transportation – and public sectors. In 2009 Asseco Denmark was voted best Danish IT consulting company

Lithuania - Document and content management solutions: enterprise-wide document tracking system, web content management sustem, workflow management systems.


Asseco is at the beginning stage of expanding business towards DACH (German speaking countries), South Western Europe (France, Italy, Spain, Portugal) and Northern Europe (Scandinavia) regions.

30

Western Europe Region Introduction

18% 72%

10%

61%

11%

28% 0%

31

Western Europe 2010 Product and Segment Breakdown

2010 %∆ 2009

Proprietary software and services 57 38,9% 41

Third-party software and services 10 40,0% 7

Hardware and infrastructure 26 -6,4% 27

Other sales 0 4792,5% 0

Total Revenues 94 23,2% 76

2010 %∆ 2009


Enterprises 67 6,5% 63


Total Revenues 94 23,2% 76


32

Financial Results from Top to Bottom Western Europe


82,0 101,0

87,3

34,9

0,0

50,0

100,0

150,0

2009 2010 1Q-3Q 2011


BL

122,2

2,1

6,6

2,8

0,0

3,0

6,0

9,0

2009 2010 1Q-3Q 2011

EBIT mln €

2,3

6,5

1,6

0,0

2,5

5,0

7,5

2009 2010 1Q-3Q 2011

NPAT (100%) mln €

1,5

4,5

0,7 0,0

2,5

5,0

7,5

2009 2010 1Q-3Q 2011


Matrix IT Bank Leumi, the Treasury, Menora, Partner, Mizrahi Tefahot Bank, Leumi Card, Motorola, Retalix, Texas Instruments, HP, SAP, Starhome, Juniper Networks, Lavie TimeTech, Verinet, Gteko, Comverse Sapiens International Philadelphia Insurance Company, JEVCO, Farm Bureau Texas, OneBeacon Insurance, Principal Financial Group, AXA Corporate Solutions, Liverpool Victoria Magic Software Access Data, ADD, Adecco, adidas, Allstate Life Insurance Company, B&C International, Bank of Cyprus UK, BNP Immobilier, CBS Outdoor, Deutsche Bank, DHL, Generali, Guardian Insurance Company, Honda, ING Commercial Financee, Merril Lynch Bank, Nespresso, Pharmatic, UPS Supply, Victorinox, Vodafone


Matrix IT is a leader in software development on Israeli market. Matrix offer covers all aspects of IT industry.

Integration services and infrastructure – full range of services from IT infrastructure, hardware installation through application integration to technical support;

Outsourcing - from personnel support system to management of client’s selected business processes; also

Professional Services, Software, Trainings

Sapiens International is company specializing in IT solutions for the insurance industry with the flagship products:

RapidSureTM – IT solution for property insurance; Sapiens InsightTM - multi-module package covering property insurance,

property and casualty insurance management, billing, claims management, reinsurance management, risk and closed-end insurance products management, life and pension management.

Magic Software is a global producer of development tools and integration platform with flagship products:

uniPaaS – a platform for development and launching software iBOLT - a solution for the integration of variety of application

environments running in an organization.

Main customers In brief Formula Systems is a holding company managing global IT companies. Company was established in 1985, listed on Tel-Aviv Stock Exchange and Nasdaq Global Market (since 1991), Total employment at Formula Systems of 5,300 people.

33

Israel Region Introduction

Formula Systems MCAP $ m

Formula Systems

Matrix IT 50.0%

Sapiens Int. 42.3%

Magic Sft. 50.9%

176 136 103 188

0

100

200

300

2007 2008 2009 2010

34

Formula Systems Financials

Figures in USD millions

$469 $550

0

200

400

600

2009 2010

Revenues +17.1%

$37

$47

0

16

32

48

2009 2010

EBIT +26.9%

$19 $18

0,0

16,0

32,0

48,0

2009 2010

Net Profit

-3.7%

75%

13%

12%

2010 %∆ 2009

Israel $413 12.1% $368

United States $73 88.0% $39

Other Markets $64 2.2% $62

Total $550 17.1% $469

35

Financial Results from Top to Bottom Israel

Figures in $ millions

469,4 549,7

483,3

142,7

0,0

250,0

500,0

750,0

2009 2010 1Q-3Q 2011

Total Revenues mln $

BL

626,0

37,0 47,0

38,5

0,0

20,0

40,0

60,0

2009 2010 1Q-3Q 2011

EBIT mln $

33,0 35,0 27,7

25,8

0,0

20,0

40,0

60,0

2009 2010 1Q-3Q 2011

NPAT (100%) mln $

One-off on SAPIENS

0,0 1,4

12,0

7,8

0,0

7,0

14,0

21,0

2009 2010 1Q-3Q 2011

NPAT (for Asseco) mln $

One-off on SAPIENS

MAGIC SOFTWARE

Asseco Poland – sole distributor of Magic Software Solutions (iBolt & uniPaaS) in Poland

Asseco Poland – uniPaaS training and licenses sold to BPH Bank (in cooperation with Magic Germany)

Asseco Germany, Asseco DK, Asseco SEE – sales/technical trainings completed – looking for first sales cases

Matrix42 – Possible synergy in Mobile Device Management area (analysis)

Asseco Business Solutions – investigating possible synergies in ERP integration and in mobile domain

SAPIENS

Asseco Group – IDIT and FIS merge -> Flagship Asseco insurance solutions

Asseco Poland – IDIT solution for PZU (offer)

Asseco SEE Croatia – ASEBA Live/CPM in Sapien’s standard offer

Asseco DK – looking for joint ventures (Solvency II, IDIT, FIS)

Asseco Group – Sapiens DECISION as the unique Business Rule Management Solution for Asseco (technical analysis)

MATRIX IT

Combidata – E-learning for Israeli customers (evaluating localization/translation into Hebrew)

Tafnit ERP – ID Ready process and cooperation with Asseco Spain

Asseco DK – SharePoint Developer from Matrix engaged in ELN 2.0 solution re-development process (completed)

Asseco Denmark - Datawarehouse architects from Matrix engaged in the Solvency II project in PenSam (in-process)

Asseco Group & Formula Systems cooperation status

36

General Information


Business Outlook

Appendix


Selected References


Agenda

37

Selected References in Financial Sector

38

Selected References in General Business Sector

39

General Information


Business Outlook

Appendix


Selected References


Agenda

40

41

Consolidated Financial Highlights for 1Q-3Q 2011

1 430

2 571

0

1 200

2 400

3 600

1Q-3Q 2010 1Q-3Q 2011


+79.8%

503 632

0

240

480

720

1Q-3Q 2010 1Q-3Q 2011

EBITDA

+25.5%

413 504

0

180

360

540

1Q-3Q 2010 1Q-3Q 2011

EBIT

+22.3%

315 291 278 268

0

180

360

540

1Q-3Q 2010 1Q-3Q 2011

Net profit1)

-7.8% -3.6%

Figures in millions of PLN; 1) Net profit and net profit adjusted for non-recurring events (light blue bars) in Q1-Q3 2010: reversal of write-downs on financial assets PLN 17.0 m; write-down on Gladstone PLN (9.4) m; write-down on Asseco Spain PLN (11.7) m; reversal of deferred income tax provision PLN 41.5 m; disposal of Uniquare company PLN (3.2) m; liquidation of Ready Sp. z o.o. PLN (0.2) m; valuation of G. Bernstein’s stock options PLN (2.1) m; disposal of a building by Combidata PLN 5.1 m; in 1Q-3Q 2011: loss of control over Sapiens PLN 22.3 m.

2 192

3 523

0

1 200

2 400

3 600

1Q-3Q 2010 1Q-3Q 2011

Consolidated sales

+60.8%

42

Consolidated sales revenues,

by products and sectors 1Q-3Q 2011 %∆ 1Q-3Q 2010

Proprietary software and services 2 571 79.8% 1 430

Third-party software and services 458 29.2% 355

Hardware and infrastructure 460 15.3% 399

Other sales 34 319.8% 8

Sales revenues 3 523 60.8% 2 192

Figures in millions of PLN

1Q-3Q 2011 %∆ 1Q-3Q 2010

Banking and finance 1 159 54.3% 751

Enterprises 1 525 113.5% 714

Public institutions 839 15.5% 726

Sales revenues 3 523 60.8% 2 192

30 September 2011 31 December 2010

Asseco Poland Asseco Group Asseco Poland Asseco Group

Short- and long-term debt -123.9 -421.9 -92.0 -335.2

Cash and cash equivalents 161.9 683.8 166.2 835.0

Cash – debt 38.0 261.9 74.2 499.8

Trade accounts receivable 166.0 775.1 172.5 1 016.3

Trade accounts payable -44.7 -248.9 -51.2 -457.0

Inventories 24.1 76.4 4.7 66.7

Operating balance 183.4 864.5 200.2 1 125.8

43

Financial liquidity

PLN m Formula Systems 211.1 ACP 161.9 ASEE 83.7 ACE 125.6 ABS 42.7 other 58.8

PLN m Formula Systems 327.6 ACP 166.2 ASEE 100.1 ACE 89.5 ABS 59.4 other 92.2

PLN m Dividend income 60 Dividend paid out -140 CAPEX + R&D -67 Wilanów investment -46 Acquisition of shares -17

PLN m Dividends paid out -224 Acquisitions -110 CAPEX + R&D -159 Wilanów investment -46

3,237.7

3,050.3

2,786.6

1,282.4

248.1 147.1 110.3

0

1 200

2 400

3 600

2010 2009 2008 2007 2006 2005 2004

Revenues

1991 – establishing of COMP Rzeszów.

2004 – IPO on the Warsaw Stock Exchange.

2004 – the first foreign acquisition (Slovak

company – AssetSoft).

2007 – the Company merges with the WSE-

listed Softbank.

2007 – commencement of an intensive

expansion into the markets of Germany and

South Eastern Europe.

2008 – take-over of Prokom Software.

The subsequent merger brings significant

cost reductions and improved efficiency.

2009 – investments in companies of the

West and North European markets.

2010 – further reinforcement of the Group's

market position in West Europe.

Consolidation of companies operating in the

same geographical regions and streamlining

of the Group's organizational structure.

4th quarter of 2010 – Asseco Group

becomes a global IT player owing to

the acquisition of Formula Systems,

the largest IT company in Israel.

569.0 525.5

494.3

236.6

47.3 30.2 19.5

415.1 373.4

321.6

160.9

52.9 23.9 14.4 0

200

400

600

2010 2009 2008 2007 2006 2005 2004

EBIT

Net Profit

Historical Performance of Asseco

44


45

Successful Mergers in Poland

• General administrative expenses in 2010 were reduced to 39% of such expenses incurred by individual companies before the merger

• Selling expenses in 2010 accounted for 73% of such expenses incurred by individual companies before the merger

• Total administrative and selling expenses in 2010 were reduced to 47% of such expenses incurred by companies operating separately

Effects of mergers of Asseco Poland, in mPLN

Total expenses

Selling expenses

General administr. expenses

Indiv

idual

com

panie

s

befo

re m

erg

ers

Asseco 2006 23.6 5.3 18.3

Softbank 2006 37.4 6.6 30.7

Prokom 2007 195.8 47.0 148.8

ABG 2009 54.9 13.0 41.9

Expenses before mergers 311.7 72.0 239.7

Expenses of Asseco after mergers (2010)

145.3 52.3 93.0

Synergy effects 166.4 19.7 146.7

Synergy effects (%) -53% -27% -61%


46

Financial Results of Subsidiaries

For 12 months ended 31 December 2010 in thousands of PLN

Sales

revenues 2010

Sales revenues

2009

Operating profit 2010

Operating profit 2009

Net profit for the year

2010

Net profit for the year

2009

Asseco Central Europe Group 519,033 573,121 57,998 61,662 38,987 47,292

Asseco South Eastern Europe Group

503,153 436,654 55,113 55,745 47,659 38,276

Asseco DACH Group 160,787 144,747 13,886 (361) 11,855 3,793

Asseco South Western Europe Group

172,187 156,568 5,397 5,318 8,996 2,989

Asseco Northern Europe 81,539 98,651 10,252 12,008 8,044 9,053

Asseco Business Solutions SA 168,587 156,196 35,778 26,758 30,092 22,427

Combidata Polska Sp. z o.o. 84,476 48,050 21,412 8,153 17,011 6,161

Asseco Systems SA 311,024 222,488 15,419 21,542 6,971 24,696

ZUI Novum Sp. z o.o 23,404 20,850 3,936 3,437 3,238 2,776

ZUI OTAGO Sp. z o.o 11,666 9,544 3,118 4,231 2,585 3,582

ADH-Soft Sp. z o.o. 7,571 6,428 1,604 1,296 1,309 915

Other 49,726 40,038 4,010 515 2,025 392

Total 2,093,153 1,913,335 227,923 200,304 178,772 162,352

Figures in thousands of PLN, pro-forma figures.

47

Consolidated Profit and Loss Account

in PLN millions Q1-Q3 2011 Q1-Q3 2010

Sales revenues 3 523.4 2 191.8 60.8%

Gross profit on sales 1 029.5 758.3 35.8%

Selling expenses (253.9) (156.1) 62.6%

General administrative expenses (277.9) (197.5) 40.7%

Other operating activities, net 6.7 7.8 -14.1%

Operating profit 504.4 412.5 22.3%

Financial income and expenses, net 27.6 (13.0) -

Pre-tax profit 532.0 399.5 33.2%

Share in profits of associated companies 2.6 1.3 94.9%

Net profit for shareholders of Asseco Poland 290.5 315.1 -7.8%

PLN m Sapiens – loss of 44.9 control Interest -5.0 Currency transactions -10.1 Other -2.2

PLN m ACP* 192.4 ABS 9.8 Formula 56.6 ACE 18.9 ASEE 18.8 Other 11.6 Adjustment* -17.5 *adjusted for dividends

PLN m ACP 967.9 ABS 112.4 Formula 1 353.8 ACE 363.1 ASEE 315.6 Other 444.9 Adjustment -34.2

PLN m ACP 252.6 ABS 24.6 Formula 113.2 ACE 57.6 ASEE 36.1 Other 21.0 Adjustment -0.9

48

Consolidated Balance Sheet

in PLN millions 30 Sept. 2011 31 Dec. 2010

Non-current assets 6 431.4 5 972.5 8%

of which:

Intangible assets 2 797.9 2 813.2 -1%

Goodwill arising from consolidation 2 584.4 2 397.3 8%

Current assets 2 309.1 2 455.9 -6%

of which

Trade accounts receivable 775.1 1 016.3 -24%

Cash and cash equivalents 683.8 835.0 -18%

Total assets 8 745.2 8 432.8 4%

in PLN millions 30 Sept. 2011 31 Dec. 2010

Shareholders' equity 6 938.7 6 371.0 9%

Non-current liabilities 671.8 628.4 7%

of which

Bank loans and debt securities 269.9 227.1 19%

Long-term financial liabilities 103.2 115.2 -10%

Current liabilities 1 134.7 1 433.4 -21%

of which:

Bank loans and debt securities 152.0 108.1 41%

Trade accounts payable 248.9 457.0 -46%

Financial liabilities 38.9 52.4 -26%

Total equity and liabilities 8 745.2 8 432.8 4%

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