ASBIS generates $1.4b revenue in very demanding first half

ASBISc Enterprises Plc said it generated excellent financial results in the first half of the year, despite an extremely difficult market environment.

The tech company – a Limassol-based Value Add Distributor, developer, and provider of ICT, IoT products, Robotic solutions, and services to the markets of Europe, the Middle East, and Africa (EMEA) – said its revenue reached almost $1.4b in H1, 15% higher than what it generated in the same period last year ($1.2b)

The Group's net profit amounted to $28.6m, as compared to $27.1m in the first half of 2022 (an increase of 6%).

In Q2 2023, ASBIS generated $674.1 million in revenues and $11.2 million in net profit.

The Company's results are in line with the expectations and published financial forecast for 2023.

“After the first half of the year, the level of realisation in revenues is at 44% and 35% at the level of net profit,” the company said in a press release. “The Group expects sales revenues in 2023 to be between $3.0 billion and $3.2 billion, while net profit after tax between $78 million and $82 million. This means that 2023 may be a record year in the Group's history, especially at the profit level. Historically, the best sales period in the IT sector is the fourth quarter of the calendar year.”
“After the most profitable first quarter in the Company’s history, we ended the second quarter of 2023 very strongly, generating high, double-digit sales growth from month to month,” said Serhei Kostevitch, CEO of ASBIS Group. “Thanks to the consistent implementation of our strategy and the great determination of our teams, we managed to achieve a strong increase in revenues, despite the fact that historically the second quarter is the weakest quarter of a calendar year in the IT industry.”

Serhei Kostevitch, added: “In the second quarter of 2023, we continued our strategy of investing in promising markets, such as the countries of Central Asia, the Caucasus and Africa, but also in Western Europe, building strong teams thanks to which we can dynamically increase our sales. We also continued to strengthen and develop our portfolio of IT products and services with technologically advanced solutions, including the robotics division - ASBIS Robotic Solutions (AROS)”.

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