Atea Q1 2024 financial report and presentation
Atea reported higher operating profit (EBIT) and net profit in the first quarter of 2024, driven by solid growth in software and services and an increase in gross margin. Revenue was NOK 7.6 billion, down 12.5% from an exceptionally strong comparable period last year. Software revenue grew by 8.4% and services revenue grew by 3.7% from last year, while hardware revenue fell by 19.5% from abnormally high volumes last year. Over a two-year period since Q1 2022, hardware has grown at a rate of 1.4% per year (CAGR) and total group revenue has grown at a rate of 4.9% per year. Gross