Atea reports financial results for Q3 2019
Atea, the leading supplier of IT infrastructure products and services in the Nordic and Baltic regions, reports strong growth in revenue and profitability in the third quarter of 2019.
Atea’s revenue in Q3 2019 was NOK 7,829 million, an increase of 10.3% from last year. Revenue grew across all lines of business, with particularly strong growth in software and services.
EBIT in Q3 2019 increased by 37.3% to NOK 181 million, based on higher revenue and a flat trend in operating expenses compared with last year. Profit before tax was NOK 171 million, compared with NOK 120 million last year. Net profit after tax grew by 47.5% to NOK 135 million.
“Atea had rapid growth in revenue in the third quarter, driven by software and services. This is in line with our strategy to broaden our solution offering and capture new growth opportunities within Hybrid Platforms, Digital Workplace and Information Management. These growth areas enable Atea to sell more advanced software and high value services to customers,” 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-q3-19/
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