Atea reports record high financial performance in Q3 2021

Atea reported record high revenue and profit for the third quarter of 2021, with all countries reporting higher EBIT.

Growth across all business lines
Atea’s revenue in Q3 2021 was NOK 8,525 million - an increase of 6% in constant currency. Sales grew across all business lines. Services revenue grew by 8% in constant currency, with high demand for both consulting and managed services. Product revenue grew by almost 6% in constant currency, despite global supply chain constraints in the electronics industry. The order backlog at the end of the quarter was approximately double that of the previous year.

Record high profitability
EBIT and net profit were at record levels for the third quarter, driven by high growth in revenue and operating efficiency. EBIT in Q3 2021 was NOK 261 million, up 22% from last year. Net profit after tax was NOK 186 million, up 25% from last year.

For the year to date 2021, Atea has reported record high EBIT of NOK 643 million, up 38% from last year. Net profit in the year to date was NOK 456, up 49% from last year.

Turnaround in Atea Denmark
Atea Denmark continued to make major progress in its turnaround during the third quarter. Revenue increased by 8.3% to DKK 1,289 million in Q3 2021, with very strong sales growth across both products and services.

Strong Business Outlook
Management sees continued growth in demand for IT infrastructure, driven by renewed investment in on premise IT solutions as employees return to the workplace, and long-term trends within digital transformation of work and interaction. As the leading player in IT infrastructure in the Nordics, Atea is well-positioned to benefit from growth trends in the IT market.

“Atea has a unique position in the Nordic market as an IT partner with a full range of products and services to support the IT operations of the most demanding customers. We will continue to leverage our scale to expand and improve the profitability of our business. Based on our strong platform of operations in the Nordic markets, we see excellent opportunities for continued growth in revenue and profits during the coming quarters and years,” commented Atea Group CEO Steinar Sønsteby.

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/2021/webcast-q3-21/

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 84 cities with over 7,000 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 40 billion (EUR 4 billion) in 2020 and is listed on Oslo Stock Exchange. www.atea.com