Asseco Business S A : Financial Statements 2022

PROFIT AND LOSS ACCOUNT AND STATEMENT OF OTHER COMPREHENSIVE INCOME

3

BALANCE SHEET

.................................................................................................................................................................................................................................................

4

STATEMENT OF CHANGES IN EQUITY

6

CASH FLOW STATEMENT

7

ADDITIONAL EXPLANATION TO THE FINANCIAL STATEMENTS

8

I.

BASIC INFORMATION

8

II.

BASIS FOR THE PREPARATION OF THESE FINANCIAL STATEMENTS AND THE ACCOUNTING RULES (POLICIES)

10

2.1.

Basis for the preparation

10

2.2.

Impact of the war in Ukraine and the COVID-19 epidemic on Company's operations

10

2.3.

Statement of conformity

10

2.4.

Functional currency and presentation currency

11

2.5.

Professional judgement and estimates

11

2.6.

Accounting rules applied

12

2.7.

New standards and interpretations that have been published and not yet in force

13

2.8.

Error adjustment

14

III.

INFORMATION ON OPERATING SEGMENTS

14

IV.

NOTES TO THE PROFIT AND LOSS ACCOUNT AND STATEMENT OF OTHER COMPREHENSIVE INCOME

17

4.1.

Structure of operating income

17

4.2.

Structure of operating expenses

21

4.3.

Financial income and expenses

23

4.4.

Income tax

23

4.5.

Earnings per share

27

4.6.

Information on dividends paid

27

V.

NOTES TO THE BALANCE SHEET

28

5.1.

Property, plant and equipment

28

5.2.

Intangible assets

31

5.3.

Right-of-useassets

37

5.4.

Asset impairment tests

40

5.5.

Receivables and assets from contracts with customers

42

5.6.

Accruals

46

5.7.

Other assets

47

5.8.

Inventories

47

5.9.

Cash and deposits

48

5.10.

Social assets and liabilities payable to the Company Social Benefit Fund

48

5.11.

Subscribed capital and other elements of equity

49

5.12.

Bank-bank-basedfunding and issue of securities

50

5.13.

Lease liabilities

50

5.14.

Trade and other liabilities

53

5.15.

Liabilities from contracts with customers

55

5.16.

Provisions

56

5.17.

Accruals and deferred income

58

5.18.

Related party transactions

58

VI.

NOTES TO STATEMENT OF CASH FLOWS

60

6.1.

Cash flow from operating activities

60

6.2.

Cash flow from investing activities

60

6.3.

Cash flow from financing activities

60

VII.

NOTES TO THE OBJECTIVES AND RULES OF FINANCIAL RISK MANAGEMENT

62

VIII.

OTHER NOTES

67

8.1.

Off-balancesheet liabilities

67

8.2.

Seasonality and cyclicality

68

8.3.

Employment

68

8.4.

Information on the remuneration of the entity authorised to audit the financial statements

69

8.5.

Remuneration of key personnel

69

8.6.

Capital management

70

8.7.

Significant events after the balance sheet date

71

8.8.

Significant events concerning previous years

71

MANAGEMENT BOARD'S APPROVAL FOR PUBLICATION

72

12 months to

12 months to

PROFIT AND LOSS ACCOUNT

Notes

31 December

31 December

2022

2021

PLN thou.

PLN thou.

Operating income

4.1

338,515

307,432

Own cost of sales

4.2

(198,867)

(174,897)

Gross profit on sales

139,648

132,535

Cost of sales

4.2

(17,563)

(18,027)

Administrative expenses

4.2

(22,029)

(20,454)

Net profit on sales

100,056

94,054

Other operating income

1,686

697

Other operating expenses

(974)

(168)

Operating income

100,768

94,583

Financial income

4.3

681

251

Financial expenses

4.3

(2,033)

(1,209)

Profit before tax

99,416

93,625

Tax on profit or loss

4.4

(14,130)

(12,977)

Net profit

85,286

80,648

Earnings per share (in PLN)

basic from net profit

4.5

2.55

2.41

diluted from net profit

4.5

2.55

2.41

12 months to

12 months to

OTHER COMPREHENSIVE INCOME:

Notes

31 December

31 December

2022

2021

PLN thou.

PLN thou.

Net profit

85,286

80,648

Items that may be reclassified to profit and loss

-

-

Items not subject to reclassification to profit and loss account

659

779

Actuarial gains/losses

814

962

Income tax on remaining comprehensive income

(155)

(183)

Other comprehensive income total:

659

779

TOTAL COMPREHENSIVE INCOME FOR PERIOD

85,945

81,427

ASSETS

Notes

31 December 2022

31 December 2021

PLN thou.

PLN thou.

Non-current assets

Property, plant and equipment

5.1

37,097

22,287

Intangible assets

5.2

285,661

280,162

including goodwill from merger

5.2

252,879

252,879

Right-of-use assets

5.3

47,339

60,637

Assets from contracts with customers and long-term receivables

5.5

499

223

Deferred tax assets

4.4

3,229

2,647

Prepaid expenses and accrued income

5.6

116

30

373,941

365,986

Current assets

Inventories

5.8

430

409

Trade receivables

5.5

51,496

44,534

Assets from contracts with customers

5.5

1,052

804

Other receivables

5.5

107

86

Prepaid expenses and accrued income

5.6

1,621

1,242

Other assets

5.7

25

72

Cash and short-term deposits

5.9

48,282

42,832

103,013

89,979

TOTAL ASSETS

476,954

455,965

LIABILITIES

Notes

31 December 2022

31 December 2021

PLN thou.

PLN thou.

TOTAL EQUITY

Subscribed capital

5.11

167,091

167,091

Premium

62,543

62,543

Retained earnings

132,014

116,859

361,648

346,493

Long-term liabilities

Lease liabilities

5.13

43,265

53,599

Provisions

5.16

1,960

2,548

45,225

56,147

Short-term liabilities

Lease liabilities

5.13

8,487

10,746

Trade liabilities

5.14

7,399

5,724

Liabilities from contracts with customers

5.15

16,800

15,368

Tax liabilities on corporate income tax

5.14

4,407

696

Budgetary commitments and other liabilities

5.14

18,598

12,740

Provisions

5.16

84

59

Accruals and deferred income

5.17

14,306

7,992

70,081

53,325

TOTAL LIABILITIES

115,306

109,472

TOTAL EQUITY AND LIABILITIES

476,954

455,965