Atea Q2 2020 financial report and presentation

Atea, the leading provider of IT infrastructure products and services in the Nordic and Baltic regions, today released its interim financial report for the second quarter of 2020.  As previously communicated in a stock exchange announcement on July 7, financial results were at all time high levels for the second quarter.

Atea’s revenue in Q2 2020 was NOK 10,598 million, an increase of 11.7% from last year, with growth across all lines of business. Atea reported exceptionally high growth in software sales during the quarter, with software revenue up 20.7% from last year.

EBIT in Q2 2020 increased by 51.4% to NOK 220 million.  EBIT was at record high levels for the second  quarter in Norway, Finland and the Baltics. In Denmark, Atea reported a major improvement in EBIT driven by measures taken to reduce operating cost.  Atea Logistics also reported a strong increase in operating profit, based on volumes processed through Atea’s new logistics center in Växjö, Sweden.

Profit before tax was NOK 190 million, compared with NOK 124 million last year. Net profit after tax grew by 55.3% to NOK 151 million.

Cash flow from operations was NOK 1.0 billion, as working capital levels fell greatly during the quarter. Atea had a positive net financial position (cash, less interest bearing debt) of NOK 459 million at the end of Q2 2020.

“Atea has delivered record high financial results in a challenging economic climate,” commented Atea CEO Steinar Sønsteby.  “The results demonstrate that Atea is well suited for the current business environment, based on its strong leadership position in the IT infrastructure market and on its stable base of public sector and large corporate customers.  I want to thank all Atea employees for their ability to successfully adapt and contribute to the business during the COVID-19 pandemic.”

The interim report and presentation are available
at https://www.atea.com/investors/financial-reports/
A webcast of management's presentation of the financial results is available
at https://www.atea.com/investors/financial-reports/2020/webcast-q2-20/

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
 

About Atea
Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with more than 7,000 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. www.atea.com