Asseco South Eastern Europe S A : Group Asseco SEE - Annual Report Consolidated Q4 2022

Consolidated Financial Statements

of Asseco South Eastern Europe Group for the year ended 31 December 2022

Present in	PLN 1,565 million
23 countries	in sales revenues

3,874	PLN 188.3 million
highly committed	of net profit
employees	for Shareholders
	of the Parent Company

Consolidated Financial Statements
of Asseco South Eastern Europe Group
For the year ended 31 December 2022
FINANCIAL HIGHLIGHTS	6
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME	7
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	8
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	10
CONSOLIDATED STATEMENT OF CASH FLOWS	12
EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS	13
I. GENERAL INFORMATION	13
II. BASIS FOR THE PREPARATION OF FINANCIAL STATEMENTS	14
2.1.	Basis for preparation	14
2.2.	Compliance statement	14
2.3.	Functional currency, presentation currency and hyperinflation	15
2.4.	Professional judgement and estimates	15
2.5.	Accounting policies applied	16
2.6.	New standards and interpretations published but not in force yet	16
2.7.	Changes in the presentation methods applied	17
2.8.	Correction of errors	17
2.9.	Changes in the comparable data	17
2.10.	Accounting effects of Turkey's status as a hyperinflationary economy	20

1. ORGANIZATION AND CHANGES IN THE STRUCTURE OF ASSECO SOUTH EASTERN EUROPE GROUP, INCLUDING THE ENTITIES

SUBJECT TO CONSOLIDATION	25
IV. INFORMATION ON OPERATING SEGMENTS	29
V. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT AND LOSS	32
5.1.	Structure of operating revenues	32
5.2.	Structure of operating costs	36
5.3.	Other operating income and expenses	40
5.4.	Financial income and expenses	40
5.5.	Corporate income tax	41
5.6.	Earnings per share	44
5.7.	Information on dividends paid out	44

VI. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION	...................................................................45
6.1.	Property, plant and equipment	45
6.2.	Intangible assets	47
6.3.	Right-of-use assets	49
6.4.	Goodwill	51
6.5.	Impairment tests	60
6.6.	Other financial assets	62
6.7.	Prepayments and accrued income	64
6.8.	Receivables and contract assets	65
6.9.	Inventories	67
6.10.	Cash and cash equivalents	68
6.11.	Share capital and share premium	68
6.12.	Non-controlling interests	69
6.13.	Lease liabilities	69
6.14.	Bank loans and borrowings	71
6.15.	Other financial liabilities	73
6.16.	Trade payables, state budget liabilities, and other liabilities	75
6.17.	Contract liabilities	76
6.18.	Provisions	77
6.19.	Accruals and deferred income	78
6.20.	Related party transactions	79

Asseco South Eastern Europe Group

Consolidated Financial Statements for the year ended 31 December 2022 in accordance with EU IFRS (in thousands of PLN)

3

VII. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS	82
7.1.	Cash flows - operating activities	82
7.2.	Cash flows - investing activities	82
7.3.	Cash flows - financing activities	82
VIII. EXPLANATORY NOTES ON OBJECTIVES AND PRINCIPLES OF FINANCIAL RISK MANAGEMENT	84
8.1.	Foreign currency risk	84
8.2.	Interest rate risk	86
8.3.	Credit risk	86
8.4.	Financial liquidity risk	87

8.5. Items of income, expenses, gains and losses recognized in the statement of profit and loss in correspondence to balance

	sheet items	87
IX. OTHER EXPLANATORY NOTES	89
9.1.	Off-balance-sheet liabilities	89
9.2.	Seasonal and cyclical business	90
9.3.	Employment	90
9.4.	Remuneration of the entity authorized to audit financial statements	91
9.5.	Remuneration of the Management Board and Supervisory Board	91
9.6.	Capital management	92
9.7.	Climate and operations of ASEE Group	92
9.8.	Significant events after the reporting period	93
9.9.	Significant events related to prior years	93

Asseco South Eastern Europe Group

Consolidated Financial Statements for the year ended 31 December 2022 in accordance with EU IFRS (in thousands of PLN)

4

Consolidated Financial Statements

of Asseco South Eastern Europe Group for the year ended 31 December 2022

These consolidated financial statements have been approved for publication by the Management Board of Asseco South Eastern Europe S.A. on 22 February 2023.

Management Board:

Piotr Jeleński

President of the Management Board

Miljan Mališ

Member of the Management Board

Michał Nitka

Member of the Management Board

Kostadin Slavkoski

Member of the Management Board

Asseco South Eastern Europe Group

Consolidated Financial Statements for the year ended 31 December 2022 in accordance with EU IFRS (in thousands of PLN)

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