Atea reports financial results for Q2 2019

Atea, the leading supplier of IT infrastructure products and services in the Nordic and Baltic regions, reports solid growth in revenue and profitability in the second quarter of 2019. 

Financial highlights are as follows:

•  Revenue: NOK 9.5 billion (NOK 9.1 billion)
•  EBIT: NOK 145 million (NOK 127 million)
•  Net profit: NOK 97 million (NOK 84 million)
•  Cash flow from operations: NOK 873 million (NOK -302 million)

Atea’s revenue in Q2 2019 was NOK 9,487 million, an increase of 4.3% from last year. Adjusted for acquisitions, Atea’s pro forma revenue growth was 4.0%. Revenue growth was driven by strong sales of software, which increased by 18.4% from last year.

EBIT in Q2 2019 increased by 14.3% to NOK 145 million, based on higher revenue and lower operating expenses compared with last year. Profit before tax was NOK 124 million, compared with NOK 109 million last year. Net profit after tax grew by 15.6% to NOK 97 million.

“Atea increased revenue and EBIT across all markets in the second quarter of 2019. We also won several large frame agreements during the quarter. Our company is well-positioned for continued growth as a leading European reseller, system integrator and managed service provider within IT infrastructure,” commented Atea CEO Steinar Sønsteby.

Atea expects the market for IT infrastructure to continue to grow, as organizations invest in new IT solutions to enhance productivity and redefine how they provide goods and services. 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.

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/2019/webcast-q2-19/   
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

About Atea

Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with 7,400 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 35 billion in 2018 and is listed on Oslo Stock Exchange https://www.atea.com