Slides
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August 27, 2024 for 2024 The Asseco Group’s results March 27, 2025
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Summary of the Group’s results for 2024 2 • Focusing on delivering the highest quality proprietary software and strengthening its position as a leader in digitization in key sectors of the economy • Very good financial results: o Revenues at PLN 17.1 billion PLN o Non-IFRS operating profit up 6% to PLN 2.1 billion and non-IFRS net profit up by 8% to PLN 577 million o Record net profit, up 8% at PLN 520 million, with higher finance costs • Increase in revenues by 6% and non-IFRS operating profit by 10% after excluding the effect of exchange rate differences • Continued growth through acquisitions - 14 new companies in the Group
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Summary of activities 3
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The Asseco Group in 2024 4 Asseco Poland segment • Strengthening the leading position in key economic sectors • Providing software and services to support the business continuity of clients in the financial sector • Implementation of strategic projects for the central administration, participation in building a friendly e-state • Continued work and new orders from leading power groups Asseco International segment • Increase in sales of ERP solutions concentrated in the Asseco Enterprise Solutions Group • Increasing the scale of operations of Asseco South Eastern Europe • Implementation of projects for public institutions, healthcare sector and banking by companies of the Asseco Central Europe Group Formula Systems segment • Consistent growth of the Formula Systems Group companies, both organically and through acquisitions • Implementation of contracts in key areas: cyber security, health care or transportation 10 923 10 989 4 059 4 138 1 964 2 051 2023 2024 Formula Systems segment Asseco International segment Asseco Poland Segment 10 923 11 498 4 059 4 347 1 964 2 051 2023 2024 +1% +2% +4% +5% +7% +4% Revenuesexcluding the effect of exchange rate differences (PLN million) Revenues (PLN million) +6% 16 897 In addition: Revenue totals by period include consolidation adjustments resulting from turnover between segments. 17 132 16 897 17 850
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32% 21%9% 15% 23% Revenues 17 132 5 290 5 561 3 351 3 622 1 461 1 529 2 618 2 618 4 176 3 802 2023 2024 PLN million +5% +8% -9% +5% 0% Solutions for finance ERP solutions Solutions for public institutions Other IT solutions Infrastructure and other Revenues by product groups 5 Share of top 10 customers in the Group’s revenues for 2024 Share of the largest customer in the Group’s revenues for 202410% 2%
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4 225 4 774 5 413 5 290 5 561 2020 2021 2022 2023 2024 6 2024 2023 Change Asseco Poland segment 592.2 534.4 +11% Asseco International segment 1 542.2 1 432.2 +8% Formula Systems segment 3 442.0 3 339.8 +3% Asseco Group* 5 561.3 5 290.4 +5% Revenues (million PLN) • Asseco Poland: implementation of projects for the largest commercial banks operating in Poland, a leading position on the market of cooperative banks, increased sales in the areas of Business Intelligence, capital market, software for leasing in Asseco Data Systems • Asseco International: intensive development in the area of payments, mainly in the lines of e-Commerce and payment card processing , increased sales in the area of banking (omnichannel and security solutions), activity of Asseco South Eastern Europe in the area of acquisitions and entry into new markets • Formula Systems: growth of Sapiens’s sales – focus on supporting customers in modernizing systems and moving to the cloud, development of innovative technologies and raising the level of automation at insurers, stable business situation at other companies in the Formula Gro up * Data including consolidation adjustment. Solutions for finance
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Solutions for public institutions 7 2 433 2 881 3 428 3 351 3 622 2020 2021 2022 2023 2024 • Asseco Poland: implementation of strategic projects for, among others, the Social Insurance Institution (ZUS), the Agency for Restructuring and Modernisation of Agriculture (ARiMR), the Agricultural Social Insurance Fund (KRUS), the Ministry of Finance, the Ministry of Justice, support for the digitization of the health service, implementation of contracts for the largest power companies and new orders related to the adaptation of systems to CSIRE • Asseco International: increase in sales to utilities customers in Asseco South Eastern Europe, implementation of projects for national public sector institutions by Asseco Central Europe Group companies • Formula Systems: Matrix IT – support for public institutions in the implementation of strategic IT projects, Magic Software's cooperation with customers in the public and health sectors Revenues (million PLN) 2024 2023 Change Asseco Poland segment 1 025.2 943.6 +9% Asseco International segment 430.6 404.8 +6% Formula Systems segment 2 172.9 2 014.0 +8% Asseco Group* 3 622.3 3 351.0 +8% * Data including consolidation adjustment.
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1 125 1 230 1 415 1 461 1 529 2020 2021 2022 2023 2024 ERP solutions 8 • Asseco International: sales growth in Asseco Business Solutions: development of new products with the use of cloud technologies and AI and an ecosystem of tools to support the implementation of a „paperless” approach in organizations or the support of KSeF • Formula Systems: Matrix IT – selling its proprietary Tafnit system and third-party systems Revenues (million PLN) 2024 2023 Change Asseco Poland segment 61.1 65.2 -6% Asseco International segment 938.7 901.5 +4% Formula Systems segment 532.2 498.3 +7% Asseco Group* 1 528.5 1 461.1 +5% * Data including consolidation adjustment.
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1 640 2 111 2 770 2 618 2 618 2020 2021 2022 2023 2024 Other IT solutions 9 • Asseco Poland: stable sales of trust services in Asseco Data Systems, cooperation with the Polsat Plus Group • Formula Systems: contribution of Matrix IT (dedicated enterprise solutions) and Magic Software (mobile application development platforms, resource outsourcing in the US) Revenues (million PLN) 2024 2023 Change Asseco Poland segment 194.9 198.9 -2% Asseco International segment 94.8 97.4 -3% Formula Systems segment 2 332.0 2 321.9 +0% Asseco Group* 2 618.2 2 617.7 +0% * Data including consolidation adjustment.
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/Magic Group/ Theoris – a consulting firm specializing in data management, application development and integration, cloud technologies, and human resource acquisition. Acquisition on the US market: Acquisitions on the Indian and UAE markets: /ASEE Group/ Touras India (formerly Paygate India) and Touras Technologies (formerly Paygate Limited) are engaged in the payment services and tools business. Acquisition on the Ukrainian market: /ASEE Group/ Askep.net offers SaaS solutions to automate the work processes of medical facilities. Acquisition on the Portuguese market: Weo Unipessoal is an online invoicing system provider. /ASEE Group/ The Group’s development – acquisitions 10 /Matrix IT/ Alacer implements solutions and provides specialized services in the areas of GRC (Governance, Risk & Compliance) and AML (Anti-Money Laundering). Acquisitions in Q1, 2025 Acquisition on the Spanish market: Acquisition on the Polish market: Infocomp specializes in advanced IT and process outsourcing services for hospital systems./Asseco Poland/ Ontario – a Canadian company specializing in the expansion, modernization and automation of back-office systems in the insurance industry./Sapiens Group/ Servicios Financieros Experimentales Serfiex is the operator of the Riskco software platform, for asset and capital management. /Sapiens Group/
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Acquisitions on the Israeli market: Heshev Information Systems offers systems and services for accounting, finance, and HR departments./Michpal Micro Computers/ YONA Engineering Consulting & Management specializes in road, aerospace engineering and railroad engineering. /Ofek Aerial Photography/ The Group’s development – acquisitions 11 /Michpal Micro Computers/ Mida Computers Software Solutions develops software in the HR field. Y-IT provides advanced technologies for fleet management. /Michpal Micro Computers/ Acquisitions in Q1, 2025 Hshahar Telecom is active in the telecommunications sector, carrying out infrastructure projects for all the leading telecommunications companies in Israel. /Formula Systems/ Ortec Marketing Equipment & Supply is engaged in the distribution and service of machinery and production line components, and is a representative of many international manufacturers. /Matrix IT Group/ /Michpal Micro Computers/ Paperless Bookkeeping offers the ability to do bookkeeping electronically (without the need for paper documents). Executive Life recruits executives, offers expert support in many key industries. /Magic Software Group/ /Matrix IT Group/ Gav Systems and Gav Expert provide high-tech employee outsourcing and call-center services. Expim is a provider of cloud solutions and services, including managed cloud services, cyber security, backup and data restoration./Magic Software Group/
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Financial information 12
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PLN 17 132 million Revenues CAGR 2020-2024: +9% PLN 2 108 million Non-IFRS EBIT CAGR 2020-2024: +9% PLN 577 million Non-IFRS net profit CAGR 2020-2024: +6% PLN 13 487 million Proprietary software and services CAGR 2020-2024: +9% PLN 2 688 million Non-IFRS EBITDA CAGR 2020-2024: +8% Selected consolidated financial data for 2024 13
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- 718,2 Przychody 2023 kursy walut wyniki organiczne 2024 akwizycje Przychody 2024 Non-IFRS results2024 vs. 2023 14 Revenues Non-IFRS operatingprofit mPLN mPLN 1 988,6 - 79,7 + 9,9 + 134,8 + 53,9 2 107,5 EBIT non-IFRS 2023 kursy walut one-offs wyniki organiczne 2024 akwizycje EBIT non-IFRS 2024 One offs: results on sale of real estate in Asseco Poland (Q1 2024) and Asseco Central Europe (Q4 2024) less write-downs of self-generated assets (Q4 2024) 17 132.0+259.516 896.5 +694.2 Revenues, 2023 FX rates organic results, 2024 acquisitions Revenues, 2024 Non-IFRS EBIT, 2023 FX rates one-offs organic results, 2024 acquisitions Non-IFRS EBIT, 2024 - 718.2 - 79.7 1 988.6 2 107.5 - 79.7 +9.9 +134.8 +53.9
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531,9 -38,2 9,1 73,6 576,5 Zysk netto non-IFRS 2023 wpływ kredytu Asseco Poland one-offs wyniki 2024 (bez one-offs i zmian koszów kredytu Asseco Poland) Zysk netto non-IFRS 2024 Non-IFRS results 2024 vs. 2023 15 Non-IFRS net profit attributable to shareholders of the parent company mPLN One offs: results on sale of real estate in Asseco Poland (Q1 2024) and Asseco Central Europe (Q4 2024) less write-downs of self-generated assets (Q4 2024) Non-IFRS net profit, 2023 one-offs 2024 results (excluding one-offs and Asseco Poland loan’s costs change Impact of Asseco Poland’s loan Non-IFRS net profit, 2023 531.9 -38.2 +9.1 +73.6 576.5
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Revenues and operating profit 16 2024 2023 Δ Q4 2024 Q4 2023 Δ Sales revenues 17 132.0 16 896.5 +1% 4 555.1 4 285.9 +6% Proprietary software and services 13 486.9 13 218.1 +2% 3 537.6 3 234.7 +9% Non-IFRS EBITDA* 2 687.9 2 577.2 +4% 737.5 683.4 +8% Profitability 15.7% 15.3% +0.4 pp. 16.2% 15.9% +0.3 pp. Non-IFRS operating profit* 2 107.5 1 988.6 +6% 585.4 536.2 +9% Profitability 12.3% 11.8% +0.5 pp. 12.9% 12.5% +0.4 pp. PPA and SBP -314.8 -366.7 -14% -81.5 -91.3 -11% M&A -1.0 2.3 -143% 1.2 13.3 -91% Operating profit 1 791.7 1 624.2 +10% 505.1 458.1 +10% Profitability 10.5% 9.6% +0.9 pp. 11.1% 10.7% +0.4 pp. Data in million PLN. * Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies. Δ excluding the effect of exchange rate differences FY / Q4: +10% / +8% +6% / +3% +14% / +9%
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Reconciliation of operating profit and net profit 17 2024 2023 Δ Q4 2024 Q4 2023 Δ Non-IFRS operating profit* 2 107.5 1 988.6 +6% 585.4 536.2 +9% Operating profit 1 791.7 1 624.2 +10% 505.1 458.1 +10% Net interest income -118.7 -100.0 -31.4 -32.3 Foreign exchange transactions -9.1 -9.9 7.1 -20.5 M&A transactions -32.2 -12.1 -19.1 -5.7 Hyperinflation 23.3 23.0 4.0 1.9 Other 3.6 0.5 2.3 0.5 Gross profit 1 658.5 1 525.7 +9% 468.0 402.1 +16% Tax -353.7 -317.1 +12% -93.1 -83.4 +12% Effective tax rate 21.3% 20.8% +0.5 pp. 19.9% 20.7% -0.8 pp. Share of profit/loss of associates 29.7 3.9 +662% 1.3 1.9 -32% Non-IFRS net profit 1 589.5 1 503.7 +6% 463.6 385.9 +20% Net profit 1 334.5 1 212.5 +10% 376.2 320.6 +17% Net profit attributable to shareholders of the parent company non-IFRS* 576.5 531.9 +8% 176.6 147.5 +20% PPA and SBP -60.5 -62.0 - -15.0 -14.2 - M&A and hyperinflation 4.0 12.7 -69% -10.9 5.2 - Net profit attributable to shareholders of the parent company 519.9 482.7 +8% 150.7 138.5 +9% Data in million PLN. * Non-IFRS recognition includes adjustmentsthe cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies and the impact of hyperinflation (ASEE) (and related tax effects).
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Financial results of regions and subsidiaries 18 Revenues Non-IFRS operating profit* Non-IFRS net profit contribution to Asseco Poland * 2024 2023 2024 2023 2024 2023 Asseco Poland segment 2 050.7 1 963.8 335.5 278.2 225.5 220.3 Asseco Poland (excluding dividends) 1 506.3 1 380.1 260.7 194.2 161.5 151.4 Asseco Data Systems 349.9 386.0 41.0 55.7 42.2 52.4 Other companies and consolidation adjustments 194.5 197.7 33.8 28.2 21.9 16.6 Formula Systems segment 10 988.5 10 922.9 1 273.3 1 247.0 109.6 104.0 Matrix IT 6 028.7 5 910.1 528.3 490.7 43.2 38.5 Magic Software 2 202.0 2 238.2 291.9 299.0 21.3 23.2 Sapiens International 2 161.6 2 152.6 402.6 407.6 37.2 36.0 Holding and other companies, consolidation adjustments 596.2 622.0 50.4 49.7 7.9 6.2 Asseco International segment 4 138.1 4 059.4 502.7 466.0 244.3 209.9 Central European market 1 778.8 1 694.3 237.0 203.0 130.4 98.8 South Eastern European market 1 709.2 1 645.8 245.7 236.8 97.7 92.3 Western European market 652.0 713.2 37.3 43.5 29.0 34.0 Holding and other companies, consolidation adjustments -2.0 6.2 -17.4 -17.3 -12.8 -15.3 consolidation adjustment -45.3 -49.6 -3.9 -2.6 -3.0 -2.3 Asseco Group 17 132.0 16 896.5 2 107.5 1 988.6 576.5 531.9 Data in million PLN. * Non-IFRS recognition includes adjustments for the the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies and the impact of hyperinflation (ASEE) (and related tax effects).
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Cash generated (LTM) 19 Asseco Group Formula Systems segment Asseco International segment Asseco Poland segment CFO 2 756.2 1 672.5 655.9 430.8 CAPEX* + leasing** -624.5 -316.3 -227.1 -83.3 Free cash flow*** 2 131.7 1 356.2 428.8 347.5 Cash conversion ratio**** 102% 107% 87% 108% Data in millionPLN; data for the Group include consolidation adjustments; data for the last 12 months, i.e. I 2024 - XII 2024. * Less financing. ** Repayment of lease obligations. *** CFO + CAPEX + leasing. **** Free cash flow / Non-IFRS EBIT excludingresult on sale of real estate.
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Stable liquidity situation 20 as at December 31, 2024 Asseco Group Formula Systems segment Asseco International segment Asseco Poland segment Eliminations Cash 3 299.3 2 082.0 895.0 322.3 - Interest-bearing liabilities (ST) -1 438.1 -1 131.5 -195.2 -113.8 2.4 Loan liabilities (ST) -1 187.6 -946.0 -143.3 -98.3 - Leasing (ST) -250.5 -185.5 -51.9 -15.5 2.4 Net cash (ST) 1 861.2 950.5 699.8 208.5 2.4 Inventories + ST receivables - ST payables* 632.1 444.6 90.9 103.8 -7.2 Net operating assets (ST) 2 493.3 1 395.1 790.7 312.3 -4.8 Net cash (ST + LT) -613.5 -559.0 410.8 -475.9 10.6 Data in million PLN. * Inventories + short-term (current) receivables + short-term (current) prepayments - short-term (current) payables excluding loans and leases.
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Financial information Proportional recognition 21
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Revenues and operating profit – proportional recognition 22 Proportional recognition* 2024 2023 Δ Q4 2024 Q4 2023 Δ Revenues 6 135.0 5 941.6 +3% 1 691.6 1 626.3 +4% Proprietary software and services 4 836.9 4 591.5 +5% 1 308.6 1 225.3 +7% Non-IFRS EBITDA ** 1 003,6 907,8 +11% 273,2 262.2 +4% Profitability 16.4% 15.3% +1.1 pp. 16.1% 16.1% 0.0 p.p. Non-IFRS operating profit** 768.6 684.0 +13% 210.3 204.5 +2% Profitability 12.5% 11.5% +1 p.p. 12.4% 12.6% -0.1 pp. PPA and SBP 73.7 74.3 -1% 19.2 18.5 +4% M&A -0.4 -8,7 -96% 2.7 -9.7 - Operating profit 695.4 618.4 +12% 188.4 196.7 -4% Profitability 11.3% 10.4% +0.9 pp. 11.1% 12.1% -1 p.p. Data in million PLN. * Proportional recognition includes translation of data of the Asseco Group companies by a percentage reflecting the effective shares held by Asseco Poland in thesecompanies. * * Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies. Δ excluding the effect of exchange rate differences FY / Q4: +15% / +2% +7% / +4% +16% / -4%
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Stable liquidity position – proportional recognition 23 as at December 31, 2024 Proportional recognition* Asseco Group Formula Systems segment Asseco International segment Asseco Poland segment Eliminations Cash 1 295.4 274.6 709.0 311.8 0.0 Interest-bearing liabilities (ST) -418.6 -171.8 -134.0 -113.9 1.1 Loan liabilities (ST) -344.1 -147.9 -98.9 -97.3 0.0 Leasing (ST) -74.5 -23.9 -35.1 -16.6 1.1 Net cash (ST) 876.8 102.8 575.0 197.9 1.1 Inventories + ST receivables - ST payables** 196.1 53.7 40.7 105.2 -3.5 Net operating assets (ST) 1 072.9 156.5 615.7 303.1 -2.4 Net cash (ST + LT) -239.7 -145.6 387.7 -486.5 4.7 Data in million PLN. * Proportional recognition includes translation of data of the Asseco Group companies by a percentage reflecting the effective shares held by Asseco Poland in these companies. ** Inventories + short-term (current) receivables + short-term (current) prepayments - short-term (current) payables excluding loans and leases.
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Order backlog 24
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6 752 7 194 2 047 2 343 1 414 1 562 2024 2025 10 213 11 099 Asseco Poland Segment +14% +10% +7% Formula Systems segment Asseco International segment +9% Fixed rates* Data in million PLN. Value of order backlog for 2025 as at March 20, 2025; value of order backlog for 2024 as at March 19, 2024. * Calculating backlog 2025 according to the rates with which backlog 2024 was calculated. ** Calculating Backlog 2025 according to exchange rates as at March 20, 2025. 25 6 752 6 938 2 047 2 276 1 414 1 562 2024 2025 Variable rates** 10 213 10 776 +3% +11% +10% +6% Proprietary software and services The Group’s order backlog
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Dividend and growth prospects for 2025 26
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Since its IPO on the WSE, Asseco has paid in total more than PLN 3.5 billion in dividends to its shareholders Dividend Recommendation to pay a dividend in 2024 in the amount of PLN 3.94 per share participating in the payment of a dividend* total dividend amount PLN 269 million *The Management Board’s recommendation on a dividend payment in 2024. Dividend per share, after exclusion of own shares. ** As at March 26, 2025. 3.11 3.36 3.50 3.66 3.94* 2020 2021 2022 2023 2024 PLN 269 million DY: 2.5% PLN 258 million DY: 4.2% PLN 279 million DY: 4.5% PLN 291 million DY: 4.2% PLN 250 million DY: 4.4% Dividend per share 27
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28 The Asseco Group’s development prospects Maintaining a leading position in Asseco's strategic sectors – banking, insurance, telecommunications, healthcare, energy, public administration, and further development in product segments – ERP systems, payments, trust services. Continued development of cyber security competencies and solutions. Implementing an AI strategy focused on using AI tools and capabilities to both improve operational efficiency and develop new solutions for customers. The foundations and strategy of our business remain unchanged – our proprietary software and related services, organic growth and through M&A
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Changes in shareholding 29 • Acceptance of an offer to acquire 14.84% of own shares of Asseco Poland by the TSS Europe company, operating under the Topicus.com Group and Constellation Software (conditional agreement), holding 9.99% of the shareholding (Yukon Niebieski Kapital) • Acquisition of a long-term investor and strategic partner • Maintaining operational independence and decision- making power – Asseco's strategy and vision will continue • Potential to leverage experience in capital allocation and M&A • Cooperation in the implementation of the succession process and the implementation of a managerial program to support plans for further growth • Asseco remains a Polish public company with headquarters in Rzeszów Shareholding structure (as at March 27, 2025) 10.01% Adam Góral Fundacja Rodzinna 9.99% Allianz OFE 5.03% NN OFE 17.84% Asseco Poland1 47.14% Other shareholders 9.99% Yukon Niebieski Kapital 1 Own shares purchased under the share buyback program announced on September 6, 2023. In accordance with Article 364 section 2 of the Commercial Companies Code (the CCC), Asseco Poland S.A. does not exercise equity rights from its own shares.
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Attachments 30
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Solutions for finance 5 561 +5% 5 290 Solutions for public institutions 3 622 +8% 3 351 ERP solutions 1 529 +5% 1 461 Other IT solutions 2 618 0% 2 618 Infrastructure and other 3 802 -9% 4 176 Revenues 17 132 +1% 16 896 Sales revenues by product groups 31Data in million PLN. 32% 21% 9% 15%23% Revenues 17 132 mPLN 2024 %∆ 2023
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79% 10% 11% Revenues 17 132 mPLN Sales revenues by type 32 Proprietary software and services 13 487 2% 13 218 Third-party software and services 1 752 8% 1 626 Hardware and infrastructure 1 893 -8% 2 053 Revenues 17 132 1% 16 897 Data in million PLN. 2024 %∆ 2023
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1 247 1 273 466 503 278 335 2023 2024 Formula Systems segment Asseco International segment Asseco Poland Segment Non-IFRS EBIT – segments 24% 16%60% Non-IFRS EBIT 2 108 mPLN PLN million Data does not include consolidation adjustments. 33
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1 624.2 1 791.7 364.4 315.8 2023 2024 Non-IFRS EBIT 1 988.6 Non-IFRS EBIT 2 107.5 Non-IFRS EBIT 34 PPA: cost of amortization of intangible assets recognized in purchase price allocation. SBP: costs of share-based payment transactions with employees. M&A: financial costs/revenues related to company acquisitions/sales. +6% EBIT PPA, SBP, M&A PLN million
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482.7 519.9 49.2 56.6 2023 2024 Non-IFRS net profit attributable to shareholders of the parent company 531.9 Non-IFRS net profit attributable to shareholders of the parent company 576.5 Non-IFRS net profit for the Group Net profit attributable to shareholders of the parent company PLN million +8% PPA: cost of amortization of intangible assets recognized in purchase price allocation. SBP: costs of share-based payment transactions with employees. M&A and hyperinflation: financial costs/revenues related to company acquisitions/sales and the impact of hyperinflation (ASEE). PPA, SBP, M&A, hyperinflation 35
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The Asseco Group: explanation of change in net profit EBIT change Change for minority shareholders Change for Asseco shareholders Asseco Poland segment +47.0 -0.6 +47.6 Other markets +120.5 +91.1 +29.4 Asseco Group +167.5 +90.5 +77.0 Financing activity change Change for minority shareholders Change for Asseco shareholders Asseco Poland segment -50.8 -1.9 -48.9 Other markets +16.1 +3.5 +12.5 Asseco Group -34.7 +1.7 -36.4 1 2 36 519.9 +167.5 -90.5 -34.7 -1.7 -36.6 +29.6 +25.8 -18.9 -3.3482.7 Zysk netto Q1-Q4 2023 EBIT Grupy EBIT udział mniejszości Działalność finansowa Grupy Działalność finansowa udział mniejszości Podatek Grupa Podatek udział mniejszości Udział w wynikach jednostek stowarzyszonych Grupy Udział w wynikach jednostek stowarzyszonych udział mniejszości Pozostałe zmiany Zysk netto Q1-Q4 2024 1 2 Net profit 2023 Group’s EBIT Minority shareholders’ EBIT Group’s finance activity Minority shareholders’ finance activity Group’s tax Minority shareholde rs’ tax Share in results of Group’s associates Share in results of associates – minority share Other changes Net profit 2024
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3 213.6 +67.2 +2 756.2 -404.0 -508.1 -1 605.7 2 908.0 Cash as of 01.01.2024* CFO CIT CFI CFF fx Cash and cash equivalents as of 31.12.2024* 2 Cash as at January 1, 2024* Cash as at December 31, 2024* Explanation of change in consolidated cash balance* Cash from investing activities (PLN million) M&A -340.8 CAPEX + R&D -358.9 Sale of fixed assets +83.3 Loans, deposits, debt instruments and others +108.3 Total -508.1 Cash from financing activities (PLN million) Asseco Poland's dividend -249.6 Dividends for minority shareholders -440.5 Debt and leasing -853.6 M&A -63.6 Other +1.6 Total -1 605.7 * Net cash and cash equivalents include overdrafts used for day-to-day liquidity management. 2 1 37 1
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214.3 +323.1 -41.2 +196.2 -524.5 260.7 Cash as of 01.01.2024* CFO CIT CFI CFF Cash and cash equivalents as of 31.12.2024*. Cash from investing activities (PLN million) Dividends +194.9 Sale of fixed assets +30.9 M&A +16.6 CAPEX + R&D -41.1 Loans and other -5.1 Total +196.2 Explanation of change in stand-alonecash balance* * Net cash and cash equivalents include overdrafts used for day-to-day liquidity management. 1 2 1 Cash from financing activities (PLN million) Dividend -249.6 Debt and leasing -274.9 Total -524.5 38 2 Cash as at January 1, 2024* Cash as at December 31, 2024*
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Revenues non-IFRS EBITDA* non-IFRS EBIT* 2024 2023 2024 2023 2024 2023 Solutions for finance 5 561.3 5 290.4 1 062.4 1 039.1 863.0 824.2 Asseco Poland segment 592.2 534.4 131.1 108.6 108.8 87.7 Asseco International segment 1 542.2 1 432.2 330.4 325.5 261.8 251.4 Formula Systems segment 3 442.0 3 339.8 600.6 605.0 492.1 485.1 Solutions for public institutions 3 622.3 3 351.0 506.3 469.8 354.5 327.2 Asseco Poland segment 1 025.2 943.6 229.9 207.0 193.3 169.0 Asseco International segment 430.6 404.8 38.8 19.0 6.1 -0.6 Formula Systems segment 2 172.9 2 014.0 234.1 244.8 151.3 159.2 ERP solutions 1 528.5 1 461.1 340.2 322.0 256.9 245.6 Asseco Poland segment 61.1 65.2 -0.1 3.6 -1.5 2.4 Asseco International segment 938.7 901.5 234.5 224.5 173.6 170.3 Formula Systems segment 532.2 498.3 102.7 95.4 81.7 73.3 Other IT solutions 2 618.2 2 617.7 309.8 338.3 250.7 273.6 Asseco Poland segment 194.9 198.9 15.1 26.4 6.0 18.6 Asseco International segment 94.8 97.4 -7.2 4.7 -4.4 6.8 Formula Systems segment 2 332.0 2 321.9 302.0 307.3 249.1 248.2 Infrastructure and other (other than IT) 3 801.7 4 176.3 469.2 408.1 382.3 317.9 Asseco Poland segment 177.3 221.7 43.4 13.8 28.9 0.5 Asseco International segment 1 131.8 1 223.5 88.3 60.7 65.6 38.2 Formula Systems segment 2 509.4 2 748.9 351.1 335.7 299.0 281.3 Asseco Group 17 132.0 16 896.5 2 687.9 2 577.2 2 107.5 1 988.6 Data in million PLN. The totals for product groups and the Asseco Group include consolidation adjustments in addition to segment results. * Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies. Financial results by product groups 39
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Financial performance by productgroups– proportionalrecognition Proportional recognition* Revenues non-IFRS EBITDA** No.n-IFRS EBIT** 2024 2023 2024 2023 2024 2023 Solutions for finance 1 807.9 1 676.9 372.2 349.8 299.6 274.3 Asseco Poland segment 560.9 506.9 124.5 102.6 102.9 82.2 Asseco International segment 872.7 812.0 181.4 180.5 142.7 138.8 Formula Systems segment 389.3 374.1 66.1 66.9 53.7 53.3 Solutions for public institutions 1 637.9 1 501.5 286.8 245.4 215.7 183.3 Asseco Poland segment 1 025.2 943.6 229.9 207.0 193.3 169.0 Asseco International segment 363.1 342.1 26.5 12.4 1.9 -2.4 Formula Systems segment 256.0 227.3 26.8 27.1 16.8 17.1 ERP solutions 810.1 792.4 161.1 156.7 118.8 119.9 Asseco Poland segment 61.1 65.2 -0.1 3.6 -1.5 2.4 Asseco International segment 670.3 659.6 139.2 139.2 101.7 105.7 Formula Systems segment 82.2 71.5 18.9 15.4 15.5 12.1 Other IT solutions 516.5 513.6 47.5 64.2 32.5 50.4 Asseco Poland segment 194.9 198.9 15.1 26.4 6.0 18.6 Asseco International segment 63.3 63.5 -1.2 4.8 -1.0 5.2 Formula Systems segment 261.9 251.7 33.7 33.1 27.6 26.5 Infrastructure and other (other than IT) 1 362.4 1 457.1 136.2 91.7 102.0 56.1 Asseco Poland segment 164.1 210.6 39.0 11.0 24.5 -2.2 Asseco International segment 864.1 888.4 63.3 39.2 50.0 25.1 Formula Systems segment 351.0 375.9 47.4 43.6 38.5 35.2 Asseco Group 6 135.0 5 941.6 1 003.6 907.8 768.6 684.0 Data in million PLN. The totals for product groups and the Asseco Group include consolidation adjustments in addition to segment results. * Proportionalrecognitionincludestranslationof data of Asseco Group companies by a percentage reflecting the effective shares held by Asseco Poland in these companies. ** Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies. 40
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Financial performance of regions and subsidiaries–proportionalrecognition Proportional recognition* Revenues Non-IFRS operating profit** Non-IFRS net profit contribution to Asseco Poland** 2024 2023 2024 2023 2024 2023 Asseco Poland segment 2 006.3 1 925.2 325.2 269.9 225.5 220.3 Asseco Poland (excluding dividends) 1 506.3 1 380.1 260.7 194.2 161.5 151.4 Asseco Data Systems 349.9 386.0 41.0 55.7 42.2 52.4 Other companies and consolidation adjustments 150.0 159.1 23.5 19.9 21.9 16.6 Formula Systems segment 1 340.5 1 300.5 152.1 144.2 109.6 104.0 Matrix IT 721.1 677.6 63.2 56.3 43.2 38.5 Magic Software 233.8 232.4 31.0 31.1 21.3 23.2 Sapiens International 241.3 242.2 44.9 45.8 37.2 36.0 Holding and other companies, consolidation adjustments 144.2 148.3 12.9 11.1 7.9 6.2 Asseco International segment 2 833.5 2 765.5 295.4 272.4 244.3 209.9 Central European market 1 432.4 1 379.1 162.4 134.3 130.4 98.8 South Eastern European market 841.6 802.7 121.0 115.6 97.7 92.3 Western European market 561.6 581.9 29.3 38.5 29.0 34.0 Holding and other companies, consolidation adjustments -2.0 1.8 -17.3 -16.0 -12.8 -15.3 consolidation adjustment -45.3 -49.6 -4.0 -2.6 -3.0 -2.3 Asseco Group 6 135.0 5 941.6 768.6 684.0 576.5 531.9 Data in million PLN. * Proportional recognition includes translation of data of the Asseco Group companies by a percentage reflecting the effective shares held by Asseco Poland in these companies. ** Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies and the impact of hyperinflation (ASEE) (and related tax effects). 41
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318 382 824 863 327 354 246 257 274 251 2023 2024 41% 17% 12% 12% 18% Non-IFRS EBIT 2 108 mPLN Non-IFRS EBIT by product groups 42 Solutions for finance ERP solutionsSolutions for public institutions Other IT solutions Infrastructure and other PLN million Non-IFRS recognition includes adjustments for the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), and the revenues and costs resulting from the transactions of purchase and sales of companies.
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Proportional recognition* Asseco Group Formula Systems segment Asseco International segment Asseco Poland segment CFO 1 041.8 211.1 412.8 417.9 CAPEX** + leasing*** -267.2 -41.7 -143.5 -82.1 Free cash flow**** 774.6 169.4 269.3 335.8 Cash conversion ratio***** 104% 123% 95% 103% Data in PLN million; data for the Group include consolidation adjustments; data for the last 12 months, i.e. I 2024 - XII 2024. * Proportionalrecognitionincludestranslationof data of Asseco Group companies by a percentage reflecting the effective shares held by Asseco Poland in these companies. ** Less financing. *** Repayment of lease obligations. **** CFO + CAPEX + leasing. ***** Free cash flow / Non-IFRS EBIT excludingresult on sale of real estate. Cash generated (LTM) – proportionalrecognition 43
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The content available in the presentation is protected by copyright and is subject to ownership. Text, graphics, photographs, sound, animation and videos, as well as the way they are arranged in the presentation, are subject to protection under the Law on Copyright and Related Rights and other related laws. Any unauthorized use of any materials contained in the presentation may constitute an infringement of copyright, trademarks or other laws. The materials available in the presentation may not be modified, reproduced, presented to the public, performed, distributed or used for any other public or commercial purpose, unless expressly authorized by Asseco Poland S.A. in writing. Copying for commercial purposes, distributing, modifying or taking over the contents of this presentation by third parties is not permitted. The presentation may also include materials containing references to offers and services of third parties. Terms and conditions for the use of offers and services of third parties are determined by those entities. Asseco Poland S.A. shall not be held liable in any way for the conditions and consequences of using the offers and services of such entities. The data and information contained in the presentation are for general information purposes only. The name and logo of Asseco Poland S.A. are registered trademarks. Use of these marks requires the express permission of Asseco Poland S.A.. Legal disclaimers 2025 © Asseco Poland S.A.
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• DIGITIZATION LEADER IN POLAND
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Asseco Group www.asseco.com @asseco_group linkedin.com/company/asseco-group Asseco Poland www.asseco.pl @asseco_pl linkedin.com/company/asseco-poland youtube.com/user/AssecoPolandSA facebook.com/AssecoPolandKariera/ Asseco Group www.asseco.com @asseco_group linkedin.com/company/asseco-group Asseco Poland www.asseco.pl @asseco_pl linkedin.com/company/asseco-poland youtube.com/user/AssecoPolandSA facebook.com/AssecoPolandKariera/.