Atea reports financial results for Q1 2018
Atea, the leading supplier of IT infrastructure products and services in the Nordic and Baltic regions, reports strong growth in revenue and profitability in the first quarter of 2018.
Atea’s revenue in Q1 2018 was NOK 8,340 million, an increase of 13.3% from last year. Revenue growth was driven by strong sales of products, which increased by 15.7% from last year. Changes in currency rates positively impacted revenue growth by 3.5%.
EBIT in Q1 2018 increased by 16.3% to NOK 123 million, as revenue grew faster than operating expenses. The average number of full time employees during Q1 was only 1.4% higher than last year.
Profit before tax grew by 29.3% to NOK 111 million. Net profit after tax was NOK 87 million, compared with NOK 69 million last year.
“Atea delivered another quarter of strong results, capturing market share and increasing profitability across nearly all geographies,” commented Atea CEO Steinar Sønsteby.
Atea expects continued growth in the market for IT infrastructure, as organizations invest in new IT solutions to enhance productivity and redefine how they provide goods and services. This adoption of new technologies is creating greater complexity for IT departments, and driving increased demand for specialist competence in IT infrastructure and system integration. This trend strongly benefits Atea, as a system integrator with expertise across multiple product platforms.
Based on its leading market position and competitive advantages as an IT infrastructure and system integration specialist, Atea is becoming an ever more important partner to customers across the Nordic and Baltic regions, and is well-positioned to capture the long-term growth opportunities within the IT infrastructure market.
The financial report, presentation and press release for Q1 2018 are enclosed.
The interim report and presentation are available at https://www.atea.com/investors/financial-reports/
The press conference is available via webcast at https://www.atea.com/investors/financial-reports/2018/webcast-q1-18/
The Stock Exchange Announcement is available at https://www.atea.com/about-atea/news/
For further information, please contact:
Steinar Sønsteby, CEO Atea ASA, mobile (+47) 930 55 655
Robert Giori, CFO Atea ASA, mobile (+47) 934 09 188
Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with 7,000 employees. Atea is present in 87 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 32 billion in 2017 and is listed on Oslo Stock Exchange https://www.atea.com