Atea reports strong growth in revenue and profitability in Q1 2015
Atea, the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions, reports strong growth in revenue and profitability in the first quarter of 2015. Both revenue and operating profits were at record high levels for the first quarter of the year.
Atea reported revenue of NOK 6,498 million in Q1 2015, an increase of 10.4% compared with last year. EBITDA before option and restructuring expenses increased by 12.1% to NOK 202 million, up from NOK 180 million in the corresponding quarter last year. Cash flow from operations was seasonally strong with NOK 25 million, up from NOK -149 million last year.
"Atea had strong growth in revenue and EBITDA in the first quarter of 2015, with increased sales and improved margins across all lines of business. Cash flow from operations also showed solid improvement, based on effective working capital management", commented Steinar Sønsteby, CEO of Atea.
In April 2015, Atea completed the acquisition of Baltneta, which is a leading cloud and outsourcing provider in Lithuania. Cloud is a strategic business area for Atea, and the acquisition enables Atea to offer its customers state-of-the-art data center services from the Baltic region.
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 Q1 2015 are enclosed.
Enclosures on www.newsweb.no
Please go to www.atea.com/reports for the quarterly report and presentation.
Video of the press conference is available at www.atea.com/webcast
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 6,500 employees. Atea is present in 90 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 25 billion in 2014 and is listed on Oslo Stock Exchange
www.atea.com
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