Asseco Poland S.A. (ASOZY) Q4 2025 earnings summary

Executive summary

• Achieved record net profit of PLN 1,139 million for the year, with strong sales and organic growth despite global turmoil and challenging market conditions.

• Sales revenues reached PLN 16,780 million in 2025, up 12% year-over-year, with operating profit at PLN 1,615 million (+11%).

• Sale of Sapiens contributed PLN 500 million to net profit, with the remainder from organic growth.

• Leadership transition planned, with the CEO moving to the supervisory board and succession to Rafał Kozłowski, ensuring continuity of values and strategy.

• Major acquisitions in Q1 2026 expanded capabilities in IT outsourcing, cloud, payments, and infrastructure.

Financial highlights

• Revenue reached PLN 16.78 billion, up 12% year-over-year.

• Operating profit exceeded PLN 1.6 billion, up 11% year-over-year.

• Non-IFRS EBITDA rose 16% to PLN 2,571 million; Non-IFRS EBIT increased 20% to PLN 2,037 million.

• Non-IFRS net profit attributable to shareholders grew 29% to PLN 742 million, with a 9% CAGR over five years.

• Cash position at year-end was PLN 7,246 million, with robust cash flow ratios and net cash (ST+LT) of PLN 3,937 million.

Outlook and guidance

• Order backlog for 2026 stands at PLN 10,832 million (+13% YoY at fixed FX), representing 86% of 2025 revenues.

• Dividend payout of PLN 1,051 million (PLN 13.05 per share) planned, higher than consensus, with a dividend yield of 7.7%.

• Anticipated revenue shortfall of PLN 2 billion and operating profit decrease of PLN 350 million in 2026 due to the Sapiens sale.

• Growth prospects supported by sector expertise, proprietary software, and AI integration.

• Ongoing focus on organic growth and selective M&A, with cash available for further acquisitions or share buybacks if no suitable targets are found.