Atea reports strong growth in revenue and profitability in Q4 2014
Atea, the leading supplier of IT infrastructure in the Nordic and Baltic regions, reports strong growth in revenue and profitability in the fourth quarter of 2014. Both revenue and operating profits were at record high levels for the fourth quarter of the year.
Atea reported revenue of NOK 7,549 million in Q4 2014, an increase of 10.3% compared with last year. EBITDA before option and restructuring expenses increased by 9.7% to NOK 396 million, up from NOK 361 million in the prior year.
"Atea finished 2014 with continued strong growth in both revenue and profitability during the fourth quarter. The improvement in profitability has been achieved through increased sales within all three business areas and higher product margins", commented Steinar Sønsteby, CEO of Atea.
In the fourth quarter of 2014, Atea completed two acquisitions. Atea acquired Axcess, which is the leading system integrator within IT networks and network security in Denmark, and Imento, which will strengthen Atea's position in the SMB market in Norway.
For the full year of 2014, Atea reported revenue of NOK 24.6 billion, up 11.3% compared with last year, and the highest in the company's history. The group's EBITDA has grown by 19.7% to NOK 958 million, and its cash flow from operations has increased by 9.7% to NOK 959 million.
Based on Atea's strong cash flow and balance sheet position, the Board of Directors will propose to the Annual General Assembly to pay a dividend of NOK 6.50 per share during 2015. This represents a dividend yield of 7.7% based on the closing share price on February 4.
"During 2014, we have significantly improved our financial performance, gained market share and continued to invest in competences in our organization. As we enter 2015, I can confidently say that Atea has never been in a stronger position" says 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 Q4 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 and system integration in the Nordic and Baltic regions with 6,500 employees. Atea is present in 85 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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