Asseco Poland shares jump on strong Q1 results, robust backlog growth

Asseco Poland SA

28/05/2025 10:53

** Shares of Polish software developer Asseco Poland ACPP.WA rise around 10.5%, on track for best day since 2006, after the company posted strong first quarter results and a better-than-expected backlog growth

** The company reported a net profit of 136 million zlotys late on Tuesday, up 9% from a year ago, while core profit also rose around 9% to 683 million zlotys

** "Our estimates were exceeded as a result of better-than-expected profitability in Poland, with net profit improving by 18% year-on-year," Trigon analyst Dominik Niszcz said in a note

** Poland's backlog growth is the highest since fiscal year 2022-2023, with key segments showing double-digit increases, implying net profit growth may exceed 10% this year, Niszcz said

** As of 0925 GMT, shares of the company were the top gainer in Poland's mid-cap MWIG40 .MWIG40 index, which rose 1.31%

(Reporting by Rafal W. Nowak)

((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))