Atea reports financial results for Q4 2017
Atea, the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions, reports record high revenue, operating profit and cash flow from operations in the fourth quarter of 2017.
Atea’s revenue in Q4 2017 was NOK 10,015 million, an increase of 10.1% compared with last year. Changes in currency rates positively impacted revenue growth by 3.4%. Sales growth was strong across hardware, software and services.
EBIT in Q4 2017 increased by 9.6% to NOK 392 million. The improvement was driven by higher revenue and relatively lower growth in personnel and depreciation expenses. Profit before tax was NOK 373 million, compared with NOK 350 million last year. The Group’s cash flow from operations was NOK 1,765 million in Q4 2017, which is the same as last year.
“Atea finished an excellent 2017 with a record strong fourth quarter. Financial performance was driven by an acceleration in sales growth.” commented Atea CEO Steinar Sønsteby.
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 2017 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/2017/webcast-q4-17/
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 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