Asseco Poland S.A. (ASOZY) Q1 2026 earnings summary

Executive summary

• Q1 2026 sales revenues reached PLN 4,399 million, up 9% year-over-year, with operating profit at PLN 513 million (+33%) and net profit at PLN 228 million (+68%).

• Growth was broad-based across all segments and geographies, with Asseco Poland leading at 12% top-line growth, Formula Systems at nearly 10%, and Asseco International at 7%.

• Non-IFRS net profit attributable to shareholders rose 44% to PLN 224 million, reflecting operational improvements and successful acquisitions.

• The order backlog for 2026 reached PLN 12,290 million, up 14% from the prior year, supporting future growth.

• The Group is present in 56 countries and employs over 30,000 people.

Financial highlights

• Revenue reached PLN 4.4 billion, up 9% compared to Q1 2025, with proprietary software and services at PLN 3,393 million (+10% YoY).

• Non-IFRS EBIT was PLN 575 million (+24% YoY), and net profit was PLN 228 million (+68% YoY); non-IFRS net profit was PLN 224 million (+44% YoY).

• EBITDA margin improved to 16.2% (+1.5 p.p. YoY), and EBIT margin improved by 1.5–1.7 percentage points year-over-year.

• Net cash position at end of Q1: PLN 2.9 billion; cash and cash equivalents at quarter-end were PLN 6,580.7 million.

• Cash conversion rates above 100% group-wide (Q1: 34%, LTM: 112%), with free cash flow at PLN 2,036.8 million.

Outlook and guidance

• Order backlog for 2026 up 14% to PLN 12,290 million, with proprietary software and services backlog up 21%.

• Backlog covers 97% of 2025 revenues, supporting visibility for future growth.

• Management expects continued stable operations and growth over the next 12 months, but notes that some Q1 results were one-off and not all gains are repeatable.