Asseco Poland Reports Record H1 Revenue and Profit Surge

EarningsM&A · Partnership
โดย GuruFocus·PL·Read original
Summary · why it matters

Asseco Poland reported record first-half 2026 results, with revenue rising 16% year-over-year to PLN9.25 billion, operating profit up 38% to exceed PLN1.08 billion, and net profit up over 52% to PLN430 million. The company's three main segments—Asseco Poland, Asseco International, and Formula Systems—all posted double-digit growth, with Formula Systems contributing nearly PLN5.6 billion, about 60% of total revenue. Public institution solutions led product growth at nearly 30%, reaching over PLN2.5 billion. Non-IFRS EBITDA grew 27% to PLN1.5 billion, and cash conversion improved to 105% of EBITDA. Order backlog rose 12% year-over-year at fixed exchange rates. CFO Karolina Rzonca-Bajorek attributed the performance to favorable market conditions and internal efficiency gains, while noting challenges including negative cash generation at Matrix IT and a one-off inventory impairment at Asseco Spain. The company completed nine acquisitions, including Mc Comp in Poland's fuel sector and RandTech Computing in Portugal's insurance sector, but declined to provide formal full-year guidance, calling 2026 a "very decent year."

Impact on stocks 1

Industrials▲ · 1 stocks

Off-coverage companies 5

Asseco PolandPrivate▲ Positive
Capitalrelevance

Record H1 2026 results: revenue +16%, operating profit +38%, net profit +52%.

Asseco SpainPrivate▼ Negative
Capitalrelevance

Reported a one-off inventory impairment at Asseco Spain.

Matrix ITPrivate▼ Negative
Capitalrelevance

Noted for negative cash generation at Matrix IT.

Mc CompPrivate± Mixed
relevance

RandTech ComputingPrivate± Mixed
relevance

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