Atea reports financial results for Q3 2017
Atea, the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions, reports strong growth in profitability in the third quarter of 2017.
Atea revenue in Q3 2017 was NOK 6,654 million, an increase of 3.9% compared with last year. A weaker Norwegian krone relative to other Nordic currencies positively impacted revenue by 0.9% compared with last year.
EBITDA was NOK 269 million, an increase of 14.8% from NOK 234 million in Q3 2016, and reflects higher gross margins based on increased sales of services. EBIT in the third quarter grew by 34.5% to NOK 176 million, and pretax profit grew by 40.7% to NOK 159 million. The Group’s cash flow from operations was NOK 189 million, up from NOK 151 million in the third quarter of 2016.
“Atea continued to improve profitability in the third quarter, with a major contribution from its operations in Norway, Sweden and Finland,” 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 Q3 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-q3-17/
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 86 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 31 billion in 2016 and is listed on Oslo Stock Exchange https://www.atea.com