Asseco SEE’s order backlog for the current year is €328.4 million

Asseco South Eastern Europe’s (Asseco SEE) order backlog for the current year is worth EUR 328.4 million, up 8% year-on-year, the company said. In 2024, Asseco SEE tentatively expects the backlog to grow by about 12-14%, ASEE CEO Piotr Jelenski said.

The value of the backlog by margin 1 (revenues excluding subcontracting costs) is EUR 232.3 million, up 14% y/y, as of September 23, the presentation said.

At the same time, Asseco SEE’s order backlog for Q4 is worth EUR 84.8 million, up 5% y/y. The value of the backlog by margin 1 for Q4 is €54.8 million, up 10% y/y, as of September 23, the presentation also said.

“Traditionally, backlog growth on margin 1 – about 10%, year-on-year 14% for the whole group, so pretty decent; a little lower for banking and dedicated solutions for Q4 and a little higher in turn for payment – this offsets each other. We think these backlogs are very decent, very good. In short, Q4 should be good, strong, and here we don’t anticipate any negative surprises relative to what the market consensus more or less depicts,” Jeleński said during the conference call.

He also reported that the company currently has only a preliminary estimate of the backlog for 2024, as it is in the process of budgeting.

“We expect to have more accurate figures in late November/early December. […] But I estimate that this dynamics will fluctuate; at the lowest level it’s 8%, and at the highest level it’s several percent growth in the backlog. But let’s still wait to see how it will look. We expect a dozen percent, closer to 12-14%, but this is pure speculation, we’ll see what happens.” – The CEO pointed out.

Asseco South Eastern Europe is engaged in holding operations, consisting primarily of managing business lines centered in the ASEE Group’s current IT companies in the Southeast European region and Turkey, as well as investing in new companies in the region. ASEE S.A. is also operationally active in the sale of services and software to support customer communication channels and business processes (contact center), as well as authentication solutions. The company has been listed on the WSE since 2009.


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