PRESS RELEASE - 7 November 2022; Limassol, Cyprus, and Warsaw, Poland

ASBISc Enterprises Plc, a leading Value-Added Distributor, developer and supplier of IT and IoT products, solutions and services in the growing markets of Europe, Middle East and Africa, increased the financial forecast for 2022 published in May this year. According to the new forecast, revenues from sales will be in the range of USD 2.6 billion to USD 2.8 billion, while net profit after tax will be between USD 70 million and USD 74 million USD. That means that the Company is aiming to achieve revenues for 2022 approx. 17% higher and a net profit after tax approx. 42% higher as compared to the upper ranges of the original forecast. 

On May 4, 2021, the Group published its financial forecast for 2022. It assumed revenues of between USD 2.2 billion and USD 2.4 billion and net profit after tax between USD 48 million and USD 52 million. 

Serhei Kostevitch, CEO of ASBIS Group, commented: “As announced, we revised our forecast and decided to increase it. We have been saying for a long time that our goal is to achieve higher profitability, we are not only fighting for revenues. This can be seen in our forecast, in which we are increasing the net profit for 2022 by as much as 42%. After a very difficult beginning of the year and the outbreak of the war in Ukraine, we quickly activated other markets that had been in the “sleep mode” so far. Thus, the growing countries of Central Asia, with Kazakhstan at the forefront, a strong Middle East operation, have become our leading markets. We have further development plans, not only territorial, but also product development and diversification of our activities, about which we will inform the market in the near future 

The reason for the upward adjustment is the result of:

  • an increase in sales of higher-margin products and IT solutions,
  • an increase in sales in non-conflict markets,
  • higher than anticipated sales in Ukraine,
  • higher than anticipated shortages in the markets in H2 2022 leading to higher prices and better margins,
  • lower than anticipated operating costs. 

Selected others significant assumptions regarding the financial results forecast for 2022 are as follows:

  • as of May 2022, the conflict between Russia and Ukraine will de-escalate,
  • there will be no further attacks by Russia on other countries of Company’s activity,
  • no sanctions will be imposed on other countries in which Company operate,
  • there will be no further blockages that could lead to the closure of retail stores and a significant reduction in consumer spending,
  • the political situation in the markets not involved in the war in Ukraine will not deteriorate, and the financial situation in these markets will be stable,
  • the financial situation in the main markets, such as Kazakhstan, the United Arab Emirates and Slovakia, will not deteriorate compared to 2021,
  • there will be no significant currency devaluation in the main markets of the Group and therefore it will not adversely affect the demand in these markets.

For additional information, please contact:  

Iwona Mojsiuszko
8Sense Public Relations
Tel. +48 502 344 992

About ASBISc Enterprises Plc 

ASBIS Group is a leading Value Add Distributor, developer and provider of IT, IoT products, solutions and services to the markets of Europe, the Middle East and Africa (EMEA) with local operations in Central and Eastern Europe, the Baltic republics, the former Soviet Union, the Middle East and North Africa. 

The business of ASBIS is based on three pillars:
1. Distribution of hardware and software for Client Computing and Data Centers, consumer electronics thru:
    a.   Retail chains and e-tailers
    b.   Resellers to small and medium business
    c.   Large enterprises.
2. Full stack in creation of world class products. From scientific research and development to design and engineering, firmware and software, production and marketing of IT and IoT products and solutions via own brands:
    a.      Aeno (small home appliances).
    b.     Canyon (smart watches, power banks, accessories for computers and mobile devices)
    c.     Perenio (IoT platform, IoT routers, applications and peripherals for smart office/ home, smart health).
    d.     Prestigio (smart devices and accessories, innovative solutions for business and education, etc.)
    e.     Lorgar (accessories for gaming and streaming)
3.     Complex solutions sales projects to large enterprises via extensive networks of System Integrators and Value Add Resellers. 

ASBIS was founded in 1990, since 1995 operates from Cyprus. Company has two master distribution centers located in the Czech Republic and in the United Arab Emirates, subsidiaries in 27 countries, more than 2,200 employees and about, 20 000 active customers in 56 countries worldwide. In 2021, the Group delivered sales of close to USD 3.1 billion. 

The Company’s stock has been listed on the Warsaw Stock Exchange since October 2007 under the ticker symbol “ASB” (ASBIS). 

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