Added to YB: 2026-08-20
Pitch date: 2026-08-18
ASE.WA [bullish]
Asseco South Eastern Europe S.A.
+1.96%
current return
Author Info
Thank You Mr Market shares first principles deep dives on high-conviction asymmetric plays | 30% IRR since Oct-2020 | Ex Investment Banker. Sign up for the newsletter.
Company Info
Asseco South Eastern Europe S.A., together with its subsidiaries, provides software implementation, integration, and outsourcing services.
Market Cap
PLN 4.0B
Pitch Price
PLN 76.50
Price Target
108.00 (+38%)
Dividend
2.50%
EV/EBITDA
11.19
P/E
18.90
EV/Sales
2.16
Sector
IT Services
Category
growth
Cash is King: Asseco South Eastern Europe Q2 2026 Earnings Review
ASE.WA (added to position): Balkan IT/software acquirer, 51% owned by Asseco Poland (23% Topicus). Constellation playbook adoption: Q2 EBITDA +27.5%, FCFA2S +413%, margins expanding. Mgmt owns 3.3%, targets EBITDA ~30% by '27 from 20%, M&A/pricing upside untapped. Sygnity comp yielded 6.5x. Modeled 23-41% share CAGR. +65% since Topicus stake, driven by profit not multiple. Incentive vote failed twice; adding in zł70s.
Read full article (9 min)