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Half-yearly report, January – June 2023

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High growth in recurring revenues and savings program implemented

April - June 2023

  • Revenues increased by 4.2 per cent to SEK 1,201.7 million (1,153.7). 
  • Adjusted EBITA decreased by 0.9 per cent and amounted to SEK 81.4 million (82.1), corresponding to an adjusted EBITA margin of 6.8 per cent (7.1). 
  • Cost efficiency program implemented with estimated savings amounting to between SEK 45 and 50 million in the current year, which resulted in restructuring costs accounted for as items affecting comparability of SEK 19.6 million.
  • Profit before tax amounted to SEK 34.4 million (64.7).
  • Profit after tax amounted to SEK 28.7 million (49.1).
  • Profit per share amounted to SEK 1.05 (1.79).
  • New contracts relating to cloud services worth SEK 115.6 million (141.4) were contracted, a decrease by 18.2 per cent.
  • Recurring revenues (revenues from cloud and support services) amounted to SEK 419.8 million (353.3), corresponding to an annualized rate of SEK 1,679.4 million (1,413.3) and an increase of 18.8 per cent.

January - June 2023

  • Revenues increased by 9.2 per cent to SEK 2,422.0 million (2,218.2). 
  • Adjusted EBITA increased by 3.0 per cent and amounted to SEK 138.6 million (134.6), corresponding to an adjusted EBITA margin of 5.7 per cent (6.1). 
  • Profit before tax amounted to SEK 71.8 million (102.1).
  • Profit after tax amounted to SEK 56.6 million (83.0).
  • Profit per share amounted to SEK 2.06 (3.03).
  • New contracts relating to cloud services worth SEK 232.2 million (262.9) were contracted, a decrease by 11.7 per cent.
  • Recurring revenues (revenues from cloud and support services) amounted to SEK 818.9 million (699.6), an increase of 17.1 per cent.

Analysts conference (online)

Analysts are invited to a presentation of the quarterly report via an online conference today Friday 14 July 2023 at 13:30-14:30 CEST.

Link to the event

https://teams.microsoft.com/l/meetup-join/19%3ameeting_YzkzZGRjMTItYjY4YS00YThhLWJkMmMtOWQ2YTk5NDZiNzg0%40thread.v2/0?context=%7b%22Tid%22%3a%22c047d5c1-d2a6-484d-ae6e-ec2bce85d023%22%2c%22Oid%22%3a%22cc241de7-1605-487f-86a9-70b73b510023%22%7d

Dial-in number: +46 8 505 323 36 Sweden, Stockholm (Toll)
Conference ID: 347 670 891 960

Local dial-in numbers

The presentation will be published on the company's website after the video conference.

This disclosure contains information that Proact IT Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 14-07-2023 13:00 CET.

For further information, please contact: 

Jonas Hasselberg, CEO and President, Proact IT Group AB, +46 722 13 55 56, jonas.hasselberg@proact.eu
Linda Höljö, CFO and IR, Proact IT Group AB, +46 72 507 40 85, linda.holjo@proact.eu

About Proact

Proact is Europe’s leading specialist in data and information management with focus on cloud services and data centre solutions. We help our customers to store, connect, protect, secure and drive value through their data whilst increasing agility, productivity and efficiency. We’ve completed thousands of successful projects around the world, have more than 4,000 customers and currently manage hundreds of petabytes of information in the cloud. We employ over 1,200 people in 13 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), was listed on Nasdaq Stockholm in 1999 (under the symbol PACT). For further information about Proact’s activities please visit us at www.proact.eu

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Interim report proact PACT Proact IT half-yearly report Q2 2023

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