Atea Q2 2023 financial report and presentation

Atea reported strong revenue growth, higher operating profit and solid cash flow from operations in Q2 2023.

• Strong revenue growth:  Group revenue in Q2 2023 increased by 17% to NOK 8,870 million. Organic revenue growth in constant currency was 8%. Growth was spread across all lines of business. Hardware revenue grew by 15%, software revenue grew by 17% and services revenue grew by 21%. 

• Higher operating profit:  Based on strong sales performance, Atea’s operating profit (EBIT) grew to a record high NOK 291 million for the second quarter, up from NOK 281 last year. EBIT in Q2 last year was impacted by an extraordinary gain on the sale of Atea’s mobile business. Excluding this extraordinary gain, Atea’s EBIT grew by 21% from last year.

• Solid cash flow from operations:  Atea’s cash flow from operations was NOK 340 million in the second quarter, up by NOK 919 million from last year. Cash flow was driven by higher operating profit and a stable working capital balance during the quarter.

“Atea continued to capture market share and generate strong profit in the second quarter,” commented Atea CEO Steinar Sønsteby. “Thanks to the collective efforts of our employees, our business is executing well and creating value for our customers and our shareholders. I am particularly pleased with the rapid growth in our services business, a strategically important area where we have reorganized and invested heavily in recent years.”

The interim report and presentation are available at:
www.atea.com/financial-reports/
A webcast of management's presentation of the financial results is available at:
www.atea.com/financial-reports/2023/webcast-q2-23/

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 in the Nordic and Baltic regions. Atea is present in 88 cities with over 8,000 employees in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers hardware and software from leading global vendors, and provides consulting and technical services to support its customers with the design, implementation and operation of their IT environments. Atea had revenue of approximately NOK 32 billion (EUR 3.2 billion) in 2022 and is listed on Oslo Stock Exchange. www.atea.com