Asseco Business Solutions (ABS) H1 2025 earnings summary

Executive summary

• Total revenues increased by 6.2% year-over-year to PLN 213.7 million for HY 2025, with net profit rising 7.6% to PLN 50.7 million.

• ERP systems segment accounted for over 96% of total revenues, with no single customer exceeding 10% of sales.

• Backlog at the end of HY 2025 reached PLN 374.8 million, up 7.4% from the previous year.

• Acquisition of a 60% stake in Tax Order Sp. z o.o. was completed, adding PLN 648 thousand in goodwill.

• Dividend of PLN 3.30 per share was paid in June 2025, totaling PLN 110.3 million.

Financial highlights

• EBITDA grew by 2.8% year-over-year to PLN 74.4 million; EBIT increased by 3.8% to PLN 54.7 million.

• Standalone revenue rose 6.5% to PLN 214.4 million; standalone net profit up 8.7% to PLN 51.2 million.

• Net cash from operating activities was PLN 68.2 million, with cash and equivalents dropping to PLN 2.3 million at period end.

• Net profit per share increased to PLN 1.54 from PLN 1.41 year-over-year.

• Effective tax rate decreased to 7.8% from 11.8% in the prior year.

Outlook and guidance

• Backlog for 2025 stands at PLN 374.8 million, representing 87.2% of 2024 sales, indicating strong future revenue visibility.

• Management notes moderate seasonality, with strongest ERP sales in Q4.

• No direct impact from the war in Ukraine, but ongoing geopolitical risks could affect future results.

• No significant post-balance sheet events reported up to 5 August 2025.