ASBIS publishes a financial forecast for 2020

THIS YEAR THE GROUP IS PLANNING AN INCREASE IN REVENUES AND A SIGNIFICANT INCREASE IN PROFITABILITY, DESPITE THE PANDEMIC

ASBISc Enterprises Plc, a leading distributor of IT products on emerging markets of Europe, the Middle East and Africa, published today its financial forecast for 2020. According to the projections, the Group expects sales revenue in 2020 between USD 2 billion and USD 2.2 billion, and net profit after tax between USD 18 million and USD 20 million. This is a significant increase in results compared to those generated in 2019.

In 2019, the Group generated revenues of USD 1.9 billion and a net profit of USD 15.2 million.

Siarhei Kostevitch, CEO and Chairman of the Board of Directors ASBISc Enterprises Plc, commented: “The situation in the markets has already started to normalize, so after a very thorough analysis, we decided, like we do every year, to share with our investors the information they can expect from ASBIS this year in terms of financial results. Despite a challenging year, ASBIS is doing very well. Our great advantage is not only the significant market leading positions developed on our markets, but also a huge, 30-year experience, which can be capitalized into our success.”

Siarhei Kostevitch added: “According to the forecast our revenues will increase to a maximum of USD 2.2 billion in 2020. We assume a much higher increase in profitability, which is in line with our previous announcements stating that we will mostly concentrate on profitability this year. In 2019, we generated a net profit of USD 15.2 million; now we expect this to increase up to even USD 20 million. We expect to achieve this result if the pandemic does not escalate further and the overall economic situation in our markets will not deteriorate significantly. We all hope that the worst market restrictions are behind us, but if there are changes in the general situation that will prevent us from operating normally, we will inform the market accordingly.”

The significant assumptions of the forecasted results are the following:

• no second wave of pandemic and another lockdown on our markets
• a stable situation in key FSU markets and in key FSU currencies (not worse than in 2019)
• no significant disturbance in the general economic environment
• a similar YoY competitive environment and favorable relations with key suppliers
• no significant decrease in sales of high margin in products and solutions (VAD) and Apple products
• the smartphones segment will not deteriorate more than 15% in the markets the Group operates.

For additional information, please contact:  

Iwona Mojsiuszko
8Sense Public Relations
Tel. +48 502 344 992
E-mail iwona.mojsiuszko@8sensepr.pl

^{About ASBISc Enterprises Plc}

^{ASBISc Enterprises Plc is one of the leading distributors of IT industry products in the emerging markets of Europe, the Middle East and Africa (EMEA): Central and Eastern Europe, the Baltic republics, the former Soviet Union, the Middle East and North Africa, combining a wide range geographical operations with a wide portfolio of products distributed in the "one-stop-shop" model.}

^{ASBISc Enterprises Plc is based in Cyprus and specializes in the distribution of computer hardware and software, mobile solutions, IT components and peripherals, and a wide range of IT products and digital equipment. The Company was established in 1990 and currently selling to 56 countries worldwide.}

^{The Group distributes products of many vendors, and manufactures and sells own brands products: Prestigio (smartphones, tablets, external storage,, GPS devices, car-DVRs, multi-boards etc.), Canyon (power banks, networking products and other peripheral devices), Perenio („IoT”).}

^{ASBIS has subsidiaries in 27 countries, close to 1,800 employees and about 20,000 customers. In 2019, sales exceeded USD 1.9 billion.}

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

^{For more information, also visit the Company’s website at www.asbis.com or investor.asbis.com}