Full Year 2025 Asseco Poland SA Earnings Call Transcript
Key Points
- Asseco Poland SA (ASOZF) reported a record-breaking net profit of PLN1.139 billion, marking a 119% growth.
- The company achieved a 12% year-on-year increase in revenue, reaching PLN16.780 billion.
- All three operating segments (Formula Group, International, and Polish segment) grew at the same pace of 12% year-on-year.
- The company has a diversified business model with the top 10 customers contributing only 12% of total revenue, reducing dependency on any single client.
- Asseco Poland SA (ASOZF) continues to expand through acquisitions, adding 13 new entities to the group last year, maintaining a steady pace of growth.
- The sale of Sapiens will result in a projected revenue shortfall of PLN2 billion and a profit reduction of PLN350 million for 2026.
- There was a slight decline in profitability year-to-year due to one-off events, including a PLN67 million write-off at Formula Systems.
- The company faces challenges in the cybersecurity and defense sectors, with current business models not fully aligned with Asseco's philosophy.
- The loss of Turkish customers in the Southeastern Europe segment poses a risk, as they are switching to in-sourcing.
- The effective tax rate for the (inaudible) company was surprisingly high due to a one-off effect from the Sapiens sale, impacting net results.
(audio in progress) dedicated to the ris -- today's conference, we will summarize our operations for the previous year from last year, and we'll also convey information pertaining to the backlog for the upcoming year, for the current year. During the first portion of the conference, we will have the presentation. The latter portion will invite you for a Q&A session.
We have the CEO, Mr. Adam Goral; and we also have Rzonca-Bajorek, who is the CFO of the group; as well as Marek Panek who's the Vice President of the group. I'll go ahead and give the floor right now to Adam Goral.
I would like to welcome you very cordially. I'm pleased that we're all here together. And above all, I see in the first row, we see people who decided to be here physically in attendance, and of course, with full respect for all of those persons who are participating remotely. So I'd like to welcome everybody very cordially. So Artur didn't
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