ASBIS raises financial forecast for 2018

According to the new forecast the Group expects sales revenue in 2018 between USD 2.1 billion and USD 2.2 billion, and net profit after tax between USD 11.5 million and USD 13.0 million.

The lower range of adjusted forecast is approx. 11% higher in relation to the revenues and 15% higher in relation to the net profit after tax compared to the upper range of the original forecast. The reason for the upward adjustment is the stronger than originally expected growth of business resulting in higher revenues and profits.

According to the financial forecast which was published in March, the Group expected sales revenue in 2018 between USD 1.8 billion and USD 1.9 billion, and net profit after tax between USD 9 million and USD 10 million.

Limassol, Cyprus, Warsaw, Poland;31 October 2018 -  Siarhei Kostevitch, CEO and Chairman of the Board of Directors ASBISc Enterprises Plc, commented: “We are very satisfied with the performance  generated during three quarters of 2018. Having focused on dynamic expansion of our presence in the markets where we are already present, we are now prepared for the fourth quarter which is the most intensive in our industry. The results expected in the last quarter allow us to increase of our financial forecast.”

The significant assumptions of the forecasted results are the following:

• the situation in our major markets of Russia, Ukraine, Kazakhstan, Belarus and Slovakia will not deteriorate as compared to H2 2017
• there will not be any major devaluations of the currencies of Russia, Belarus, Kazakhstan and Ukraine and therefore it will not negatively affect demand on those markets
• there would be no significant disturbance in the general economic environment in all other markets where the Company operates
• competition in all major segments will remain similar to that of the first three quarters of the year, with no new significant market entrants.
• the Group will continue enjoying favorable terms from its key suppliers.

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, selling to 60 countries worldwide currently.}

^{The Group distributes products of many vendors, and manufactures and sells private-label products: Prestigio (smartphones, tablets, external storage, leather-coated USB accessories, GPS devices, Car-DVRs, Multi-boards etc.), Canyon (MP3 players, networking products and other peripheral devices) and Perenio („IoT”).}

^{ASBIS has subsidiaries in 24 countries, about 1,300 employees and 30,000 customers.}

^{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}