Atea issues preliminary Q2 2020 financial results – profit significantly above market estimates
Atea ASA (Oslo Stock Exchange: ATEA), the market leader in IT infrastructure in the Nordic region, today released preliminary revenue and profit figures for the second quarter of 2020.
- Revenue of NOK 10.6 billion, up 12% from last year
- EBIT of NOK 220 million, up 51% from last year
- Net Profit after tax of NOK 151 million, up 55% from last year
Both revenue and operating profit were at all time high levels for the second quarter, and cash flow from operations was also very strong. The Board and Management decided to release the revenue and profit figures ahead of the scheduled Q2 2020 report date as the results were significantly above market estimates.
The results announcement is preliminary, and the complete interim financial statements for the second quarter will be released on July 15. Management will present the Q2 2020 results and business outlook by webcast at 08:00 CET on July 15. A link to the webcast will be published on Atea’s website: www.atea.com .
“While all businesses face uncertainty with the COVID-19 pandemic and its impact on the global economy, Atea is in a very strong position for the current economic environment,” commented Robert Giori, Atea CFO.
“Atea has unique competitive advantages based on its scale in the Nordic market, and offers a full range of products, consulting and managed services to support the needs of its customers. The IT infrastructure market in the Nordic region has proven to be resilient throughout the economic cycle. Atea has a very solid customer base, with over 60% of its revenue from the public sector. The competitive landscape is expected to further consolidate during an economic downturn, which also favors Atea as the market leader,” commented Steinar Sønsteby, Atea CEO.
For more 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 more than 7,500 employees. Atea is present in 85 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 37 billion in 2019 and is listed on Oslo Stock Exchange. https://www.atea.com