Asseco Poland (ASOZY) Q2 2026 earnings summary

Executive summary

• Revenue reached PLN 9.25 billion in H1 2026, up 16% year-over-year, with operating profit up 38% and net profit at PLN 430 million, a 52% increase.

• All major segments and product groups posted double-digit growth, with strong diversification across clients and geographies, supported by acquisitions and organic expansion.

• Order backlog for 2026 stood at PLN 13,416 million, up 18% year-over-year at variable FX rates, indicating robust future demand.

• The Group operates in 56 countries with 30,932 employees.

Financial highlights

• Non-IFRS EBITDA reached PLN 1,522 million (+27% YoY), and non-IFRS EBIT was PLN 1,240 million (+33% YoY); net profit attributable to shareholders was PLN 430 million (+52% YoY).

• Proprietary software and services revenue was PLN 7,149 million (+17% YoY).

• Free cash flow (LTM) was PLN 2,054 million; cash conversion ratio was 105%.

• Net cash at group level was PLN 1,467 million, with deposits adding another PLN 200 million.

• Cash and bank deposits at period end were PLN 5,104.7 million.

Outlook and guidance

• Management expects continued strong performance for the remainder of 2026, with positive trends in public and banking sectors.

• Order backlog for software and services up 12% year-over-year at fixed FX rates, 18% at variable rates, covering 106% of 2025 revenues.

• No formal forecasts provided, but outlook described as “very decent” and conservative.

• Management sees no threat to going concern for at least 12 months from June 2026.