Atea reports strong growth in revenue and profitability in Q3 2014
Atea, the leading supplier of IT infrastructure in the Nordic and Baltic regions, reports strong growth in revenue and profitability in the third quarter of 2014. Both revenue and operating profits were at record high levels for the third quarter of the year.
Atea reported revenue of NOK 5,173 million in Q3 2014, an increase of 10.9% compared with last year. EBITDA before options expenses increased by 30% to NOK 205 million, up from NOK 158 million in the prior year. The group's EBITDA margin increased to 4.0%, up from 3.4% last year.
"I am very pleased to see double digit revenue growth and EBITDA growth of 30%. This financial performance has been achieved through a combination of strong sales execution, delivering value to customers, and a continued focus on operational efficiency," says Steinar Sønsteby, CEO of Atea.
During the first three quarters of 2014, Atea has reported revenue of NOK 17,039 million, an increase of 11.7% compared with last year. The group's EBITDA has grown by 28.0% to NOK 563 million, and its cash flow from operations has increased by NOK 376 million compared with the same period last year.
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 2014 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 in the Nordic and Baltic regions with approximately 6,500 employees. Atea is present in 84 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 more than NOK 22 billion in 2013 and is listed on Oslo Stock Exchange.
www.atea.com
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