HISTORY IS WRITTEN ONCE AGAIN AS ASBIS'S PROFIT FOR 2020 BREAKS ONE RECORD AFTER THE OTHER

THE COMPANY INCREASED THE NET PROFIT FORECAST FOR 2020 FOR THE SECOND TIME

ASBISc Enterprises Plc, a leading distributor of IT products on emerging markets of Europe, the Middle East and Africa, increased the net profit forecast for 2020 published in August and increased in October this year. According to the new financial forecast, net profit after tax will be between USD 32.0 million and USD 34.0 million, which means that taking into account the higher range of the forecast range, it may be 70% higher than originally assumed and by 36% higher than the increased forecast in October. Sales revenues remain at the level of the original forecast, i.e. between USD 2.0 billion and USD 2.2 billion.

The Group published its financial forecast for 2020 on 11 August 2020. It called for revenues between USD 2.0 and 2.2 billion and net profit after taxation between USD 18 and 20 million. On 22 October 2020, ASBIS raised its 2020 net profit forecast to between USD 23.0 and USD 25.0 million.

Siarhei Kostevitch, CEO and Chairman of the Board of Directors ASBISc Enterprises Plc, commented:“This year will be a record year in our history. We keep our promise to investors that we will focus primarily on the profitability of the Group. This year is a time of enormous demand for IT equipment and the ability of the group to meet its customers' expectations, has been extremely critical. This proved that they can rely on us, and thus strengthened our position even further in the main markets. We are convinced that it will bring tangible results also in the future.”

Siarhei Kostevitch added:“Despite such a good year, we are still working on increasing the Group's efficiency. Our operating costs remain under strict control, while financial costs are decreasing due to the strong financial situation of the Group. The new iPhone 12 which  debuted in autumn sells fantastically in our markets. We are now in a position to confirm that, including processors and accessories, it will be one of the key success factors of our high revenues in the fourth quarter of this year. We recently paid our investors an interim dividend from profits for 2020. Seeing our current results, we can assume that if no unforeseen circumstances arise, the entire dividend for 2020 will be one of the highest in our history.”

The reason for the upward adjustment is the result of:

• an increase in sales of higher-margin products and IT solutions,
• lower than anticipated financial expenses,
• lower than anticipated operating costs.

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 (tablets, external storage, GPS devices, car-DVRs, multi-boards etc.), Canyon (power banks, networking products and other peripheral devices) and Perenio („IoT”).}

^{ASBIS has subsidiaries in 27 countries, more than 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}