Half Year 2026 Asseco Poland SA Earnings Call Transcript
Key Points
- Revenue grew 16% year-over-year to PLN9.25 billion, with operating profit up 38% and net profit up 52%.
- All product segments posted double-digit growth, with public institution solutions leading at nearly 30% growth.
- Order backlog grew 12% year-over-year at fixed exchange rates, indicating strong future revenue visibility.
- Cash conversion improved to 105% of EBITDA, with strong performance in Asseco International (133%).
- Successful M&A activity added nine companies, including strategic acquisitions in fuel and insurance sectors, enhancing diversification.
- Cash generation in Matrix IT was negative for the half-year due to factoring and late payments from a major public client.
- Asseco Spain underperformed due to a one-off inventory impairment of over PLN18 million.
- The effective tax rate in Q2 was elevated due to a 19% tax on the Sapiens dividend, impacting net profit.
- ERP revenue in Poland declined significantly due to the reclassification of DahliaMatic to Asseco International.
- The company faces ongoing challenges in the defense sector, with no immediate projects to participate in despite potential budget increases.
Good afternoon, ladies and gentlemen. We'd like to welcome you very cordially to the results conference, which is about the results of Asseco in the first half of 2026. As always, we'd like to introduce you or show you the activities of our group and the financial results.
And so Karolina Rzonca-Bajorek, the CFO of the group, will talk about the results, and we'll start with the activities of the group, which will be delivered by Marek Panek, the Vice President of the group, and we'll ask you at the end to send your questions, and we'll try to field all of your questions.
And you have basically a tab where you can pose your questions during the course of today's conference. We'll go ahead and ask you to pose your questions. We'll try to field all of them, and I'll ask Marek to kick off with our presentation.
Thank you very much, ladies and gentlemen. And as a matter of tradition, I'll begin with a
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
