Atea reports financial results for Q4 2016
Atea, the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions, reports record high revenue, EBITDA and cash flow from operations in the fourth quarter of 2016. EBITDA margin also improved as revenue grew faster than operating expenses.
Atea reported revenue of NOK 9,096 million in Q4 2016, an increase of 5.7% compared with last year, despite negative impact from currency fluctuations of 2.8%. EBITDA before option expenses was NOK 459 million, increasing 21.6% from NOK 378 million in the corresponding quarter last year. The Group’s EBITDA margin came in at 5.0%, up from 4.4% in the corresponding quarter last year, and cash flow from operations ended at NOK 1,765 million, up 21.1% from the fourth quarter of 2015.
“Atea finished a record strong 2016 with a record high fourth quarter. All key financial metrics improved, most notably EBITDA up by 21.6% and EBIT up by 42.1% from last year”, commented Steinar Sønsteby, CEO of Atea.
Atea ASA’s Board of Directors proposes to the Annual General Meeting a dividend of NOK 6.50 per share to be paid in two equal instalments of NOK 3.25 in May and October 2017 for the 2016 accounting year. This corresponds to an 8.2% dividend yield based on the share price at the end of 2016.
For the full year 2016, Atea reported revenue of NOK 31.2 billion, up 11.8% compared with last year. The Group’s EBITDA was NOK 1,129 million, up 18.7% compared with last year. The Group reported a record strong cash flow from operations for the full year 2016 of NOK 1,404 million, up 9.1% from the full year 2015.
Atea expects continued growth in the IT infrastructure market, as organizations invest in new IT solutions to enhance productivity. 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 Q4 2016 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/2016/webcast-q4-16/]
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 6,900 employees. Atea is present in 86 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 31 billion in 2016 and is listed on Oslo Stock Exchange [https://www.atea.com]