ASBIS ended the year with one of the most profitable quarters in its history

In Q4 2024 stand-alone, which was the most profitable in the Group's history, ASBIS generated USD 926.9 million in revenues (PLN 3.8 billion) and USD 24.6 million in net profit (PLN 99.7 million).

OTHER IMPORTANT EVENTS:

• The largest country in terms of sales in ASBIS, despite the challenges in the country, was Kazakhstan, while the CIS region still maintained the largest share in the Group's revenues (over 42% in the Q1-Q4 2024).
• Poland ranked 6th among the countries with the highest sales in the ASBIS Group (TOP 10) with revenues of over USD 147.7 million in 2024 (an increase of 17.7% compared to the same period last year).
• ASBIS announced and made payment of an interim dividend from profits for 2024 in the amount of USD 0.20 per share, which means that ASBIS shareholders received a total of USD 11.1 million.
• Breezy, a subsidiary of ASBIS, launched a unique, robotic production line in Poland using artificial intelligence to classify and modernize used smartphones, which will allow for the classification of up to 1,000,000 devices and the modernization of 320,000 smartphones per year.

Serhei Kostevitch, CEO of ASBIS Group, commented: "We have finished Q4 and the whole 2024, marking one of the most profitable quarters in our history. Despite the difficulties in our largest markets, such as Kazakhstan and Ukraine, I consider last year’s performance  to be very satisfactory. The revenues were by a fraction lower than a year ago, but we managed to generate a net profit of USD 54.2 million (more than PLN 215 million) which allows us once again to deliver on our promises to the market. These are the results which were achieved among others, due to very large geographical coverage and a wide product portfolio. The leaders of growth were South Africa, Poland and Azerbaijan. In all  these countries we are growing dynamically through our operations and penetrate all addressable segments. We have also significantly developed projects that can give us growth potential this year. As usual, we confirmed that we are well prepared to weather any difficulties and take all these steps to adapt to the new realities in our markets."

Serhei Kostevitch added: “In conclusion, looking at all the challenges we faced in 2024, we ended the year in a good style, full of confidence and ideas for 2025. We sincerely hope the geopolitical situation to stabilize and the inflationary pressure will be lower in order for the consumer sentiment to improve. We have many areas of growth in ASBIS. Our goal is clear and it is organic growth through operational excellence, but also through appropriate acquisitions.”

FINANCIAL RESULTS

A summary of the financial results of the ASBIS Group in the four quarters of 2024 and FY 2024 is presented in the tables below (presentation of the results are in USD and in the table below in PLN). USD remains the official reporting currency of the Group.

Financial results of the Group in Q4 and Q1-Q4 of years 2024 and 2023

USD million

PLN million

DETAILED SALES DATA  

SALES BY REGION  

The Commonwealth of Independent States ("CIS") and Central and Eastern Europe regions have traditionally had the largest share in the Group's revenues. This did not change in Q4 2024 and Q1-Q4 2024.

In full-year 2024, revenues achieved in the CIS region decreased by 19.0% compared to 2023, while sales in Central and Eastern Europe and other major regions increased significantly. The main reason for lower sales in the CIS region was the extremely difficult market conditions in the leading market of Kazakhstan (grey market and new consumer law), as well as the ongoing war in Ukraine.

Geographical structure of ASBIS sales in Q1-Q4 2024 and 2023

SALES BY COUNTRY

The country-by-country analysis shows a large drop in revenues in Kazakhstan, the Group's largest market (29.4% in the 12 months of 2024 compared to 2023), as a result of the very difficult market situation in the country. However, the last months of the year showed signs of demand recovery in the country. 

The United Arab Emirates, the Group's third largest market, generated revenues of $331 million in the 12 months of 2024, an increase of 3.1% year-on-year. 

Poland showed strong growth in the whole of 2024 of 17.7% compared to the same period in 2023. The best-selling product categories in Poland were processors, SSDs and HDDs.

Revenue breakdown – Top 10 countries in the Q1-Q4 2024 and 2023 (USD thousand)