New strategic plan after 2011 and changed dividend policy

Atea will tomorrow at its Capital Markets Day launch the strategy "Together Towards the Top", which sets the scene for Atea's development towards 2015. The target in the new strategy is to increase revenues to NOK 30 billion in 2015 from an expected level of approximately NOK 20.3 billion in 2011, and double the EBITDA to NOK 1.8 billion from an expected level of NOK 900 in 2011.

Atea has a solid financial position as a result of strong earnings performance over time and an ability to convert these earnings into free cash flow. Based on the current solid financial position and an expected growth in earnings and cash flow over the coming years, the Board of Atea ASA has in a Board meeting on 23 November 2011 decided to change the dividend policy. The company will increase the payout ratio to 70-100 per cent of net profit adjusted for normalized tax from the existing ratio of 40-60 per cent of net profit with a Net Debt/EBITDA gearing limit of 2.0.

It is the Board of Directors' objective to offer competitive returns to its shareholders supported by a high dividend pay out ratio. For 2011 the Board will propose a dividend of NOK 5 per share to the annual general assembly.

Atea will continue to combine organic growth with growth through acquisitions, as Atea has the financial strength and a clear intent to continue playing an important role in the ongoing consolidation in the Nordic and Baltic markets.

For further information, please contact:
Claus Hougesen, CEO Atea ASA, mobile + 45 3078 1200
Rune Falstad, CFO Atea ASA, mobile +47 906 14 482

   
About Atea
Atea is the leading Nordic and Baltic supplier of IT infrastructure with approximately 5500 employees. Atea is present in 79 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assist its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 17 billion in 2010 and is listed on Oslo Stock Exchange.
www.atea.com

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