Locked content DM mBanku neutral on IT companies, favores Atende

Brokerage DM mBanku estimated IT companies’ perspectives on The Warsaw Stock Exchange (GPW) neutrally, keeping “overweight” rating for Asseco South Eastern Europe, Atende, and Wasko. The brokerage gives “underweight” recommendation for Asseco Poland. DM mBanku estimates that in the first quart...

Locked content Asseco International mulls takeovers, potential IPO

Asseco International, a subsidy of WSE-listed IT giant Asseco, could enter a Western stock exchange to finance a prospective major acquisition, its CEO Józef Klein said. “We are planning to make further acquisitions, and we need capital for it. We have the opportunity to enter the stock exchange, bu...

Locked content Assseco and Comarch IT with bids to develop ZUS core system

WSE-listed IT firms Asseco Poland and Comarch submitted their bids in a tender organized by the Social Insurance Board (ZUS)  to develop the core IT system KSI, ZUS announced. Asseco’s price for one functional point in Asseco’s offer was set to PLN 12,625.95, while Comarch’s was PLN 14,7...

Locked content Asseco Poland is working on ‘direct entry’ onto the US market

WSE-listed IT company Asseco is working on a “direct entry” to the US market, the firm CEO Adam Góral said. “We are very interested in the US market, we do everything to enter it directly from Poland. I would not talk about it if we were not working on it. Of course, it takes time,…

Locked content Asseco with PLN 466 mln profit in 2017

WSE-listed consolidated net profit for 2017 amounted to PLN 466 million, the company said announcing its preliminary results. Operating profit was estimated at PLN 585 million and was affected by a PLN 80.1 million goodwill amortization charge on the public administration segment. At the same time, ...

Locked content Asseco with PLN 288 mln Q3 net profit

WSE-listed IT group Asseco had PLN 288.6 million net profit in Q3, up from PLN 82.1 million last year, but slightly below the PLN 295.3 million market consensus. Revenues amounted to PLN 1.24 billion, down by 34.7 percent y/y, while EBITDA amounted to PLN 172.7 million, down by 38.5 percent y/y. The...

Locked content Comarch snatches flagship ZUS contract from Asseco

WSE-listed IT firm Comarch has won the tender for maintenance of social security ZUS’s core KSI IT system. The winning offer was PLN 242 million, while the creator and current maintainer WSE-listed Asseco bid PLN 374 million. The contract will run for four years. “I strongly underline that we ...

Locked content Asseco sets up new international holding. Mulls IPO and acquisitions

WSE-listed IT giant Asseco has set up a new subsidiary in Slovakia, Asseco International and hopes to float it soon. “We have started talks with Frankfurt and London, but Brexit is not helping. Our stock market (WSE) will always be closest to me, though.” Company’s CEO Adam Góral said. The new compa...

Locked content Asseco Q3 earnings affected by foreign units results

WSE-listed IT group Asseco warned that it will book PLN 116 million in impairments on its foreign units results. “As a result of the revision of plans of the Asseco Group in the area of operations on foreign markets and the deteriorating results and forecasts of the companies operating in Russia, Li...

Locked content Asseco Q2 profit drops

WSE-listed IT group Asseco had PLN 113.3 million net profit in H1, down from PLN 142.4 million last year. Revenues amounted to PLN 4.16 billion, up from PLN 3.77 billion last year. Sales increased primarily in foreign markets, with a share of consolidated revenue rising to 83 percent, while revenues...