February 29, 2024



Press release. Limassol, Cyprus. 29 February 2024

ASBIS Group (WSE: ASB), a leading Value Add Distributor, developer, and provider of ICT, IoT products, solutions, and services to the markets of Europe, the Middle East, and Africa (EMEA), achieved strong financial results in 2023. Sales revenues in 2023 amounted to nearly USD 3.1 billion (PLN 12.8 billion), as compared to USD 2.7 billion in 2022, representing an increase of 14%. Net profit without taking into account the one-off events would amount to USD 78 million. The one-off events that occurred in the fourth quarter were related to the Group's finalization of its exit from Russia. ASBIS does not anticipate any similar events in the future. Net profit including the one-off events in 2023 amounted to USD 53 million (PLN 221.9 million). 

In the fourth quarter of 2023, ASBIS generated revenues of USD 893.3 million. Net profit without the one-off events would amount to USD 27.1 million and USD 2.1 million including these events.  


  • The largest ASBIS country in terms of sales was the very fast-growing Kazakhstan, while the CIS region (over 51% share) and the Central and Eastern Europe region (26% share) had the largest share in the Group's revenues.
  • Poland is among the TOP10 countries with the highest revenues in the Group, taking the 7th place with revenues of USD 125.5 million (an increase of 46.3% as compared to the same period of last year).
  • ASBIS met the financial forecast for 2023 at the level of revenues and, without taking into account the one-off events, it would also achieve its net profit forecast.
  • On December 7th, 2023, the Group paid an interim dividend from 2023 profits in the amount of USD 0.20 per share (total USD 11,100,000). Dividend is paid for the last eight consecutive years.
  • ASBIS expands its operations in Africa, where it has not only increased its warehouse space but also opened two new Bang&Olufsen stores under the Prestigio Plaza brand.    
  • The Group finalized its exit from Russia, closing all operations in this country.  

“2023 has been a very successful year for ASBIS. Considering the unfavorable geopolitical environment, inflationary pressures and unforeseen one-off events that affected the Group's net profit for 2023, we are very satisfied with the Group's results in 2023. It is worth emphasizing that without considering the one-off events, ASBIS would have achieved a net profit of USD 78 million, in line with its forecast for 2023,” said Serhei Kostevitch, CEO of ASBIS Group. “We look optimistically at 2024. We expect markets to stabilize, although we realize that this is quite an optimistic assumption. We believe that inflation pressures will be lower and consumer sentiment will improve. At ASBIS, we have many growth areas, such the Apple business, and already established markets such as Central and Eastern Europe, Western Europe and Africa. Our goal is organic development, thanks to which we expect to reach the next level of our development.”   


ASBIS achieved very strong financial results for 2023. Excluding the one-offs relating to the finalization of the Group's exit from Russia, 2023 was a record-breaking in terms of net profit. 

A summary of the financial results of the ASBIS Group in Q4 2023 and Q1-Q4 2023 is presented in the tables below (presentation of the results in both USD and PLN). USD remains the official reporting currency of the Group.

Analysing the results of the fourth quarter of 2023, revenues amounted to USD 893.3 million, an increase of 14.5%, as compared to the fourth quarter of 2022). Gross profit margin decreased and stabilized at 8.33% from 9.06% in Q4 2022. Operating profit (EBIT) decreased by 8.8% and amounted to USD 34.7 million, compared to USD 38.0 million in the fourth quarter of 2022. Net profit amounted to USD 27.1 million (excluding the impact of the release of the currency translation and provisions for receivables) and considering these one-off events was USD 2.1 million, compared to USD 28.7 million in the fourth quarter of 2022. 

During the twelve months of 2023, ASBIS achieved revenues of USD 3,061.2 million (an increase of 13.8% compared to the twelve months of 2022). Net profit after tax reached USD 78.0 million without the one- off events and USD 53.0 million after these one-off write-offs compared to USD 75.9 million in 2022. 


ASBIS has fully achieved its financial forecast for 2023 at the revenue level. Without considering the one-off events that reduced net profit in the fourth quarter of 2023 by USD 25 million, the Group would also achieve the financial forecast at the level of net profit. 

According to the 2023 financial forecast published on April 5th, 2023, the Group was to generate sales revenues between USD 3.0 billion and USD 3.2 billion and net profit after tax between USD 78 and USD 82 million.  



The FSU and Central and Eastern Europe regions traditionally generate most of the Group's revenues. This has not changed throughout 2023, where sales in the FSU (excluding Russia and Belarus) increased by 11.1%, compared to the same period last year. A much more positive trend was observed in the Central and Eastern European region, where sales increased by 21%. 

Western Europe showed a significant growth last year, which amounted to 40.6%. Sales in the Middle East and Africa increased by 4.4% in 2023, compared to these of 2022.  


Analysis of individual countries indicates still high demand in Kazakhstan, where ASBIS strengthens its operations and erecting a new distribution center with an area of 20,000 m2

Poland is performing very well in terms of sales. The main reasons for the growth are strong sales of traditional IT components such as processors and monitors and a very successful development of sales of Bang&Olufsen products.  

The countries with the highest sales growth in 2023 were:

  • Germany – increase of 61%
  • Azerbaijan - increase of 52.3%
  • Poland - increase of 46.3%
  • Ukraine – increase of 26.3%.
  • Kazakhstan - increase of 19.2%.  

In Q4 2023, the countries with the highest sales increases were as follows:

  • Poland - increase of 65.8%
  • Czech - increase of 61.2%
  • Azerbaijan - increase of 56.2%. 


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