Interim Report January - September 2023
Good development in the services business and cost program that delivers results
July - September 2023
- Revenues decreased by 3.0 per cent to SEK 1,065.3 million (1,098.6).
- Adjusted EBITA decreased by 7.0 per cent and amounted to SEK 72.8 million (78.3), corresponding to an adjusted EBITA margin of 6.8 per cent (7.1).
- Profit before tax amounted to SEK 63.7 million (56.1).
- Profit after tax amounted to SEK 50.9 million (43.9).
- Profit per share amounted to SEK 1.85 (1.60).
- New contracts relating to cloud services worth SEK 118.8 million (158.1) were contracted, a decrease by 24.9 per cent.
- Recurring revenues (revenues from cloud and support services) amounted to SEK 436.7 million (369.7), corresponding to an annualized rate of SEK 1,746.8 million (1,478.6) and an increase of 18.1 per cent.
- On August 28th, Proacts subsidiary in Lithuania was divested, which had a positive effect on the operating profit of SEK 3.1 million, which is reported under items affecting comparability, and is expected to have a marginally positive effect on the result going forward.
January - September 2023
- Revenues increased by 5.1 per cent to SEK 3,487.3 million (3,316.8).
- Adjusted EBITA decreased by 0.8 per cent and amounted to SEK 211.0 million (212.8), corresponding to an adjusted EBITA margin of 6.0 per cent (6.4).
- Cost efficiency program implemented with estimated savings amounting to between SEK 45 and 50 million in the current year, which has resulted in restructuring costs during the second quarter, accounted for as items affecting comparability of SEK -19.8 million.
- Profit before tax amounted to SEK 135.5 million (158.2).
- Profit after tax amounted to SEK 107.5 million (127.0).
- Profit per share amounted to SEK 3.91 (4.62).
- New contracts relating to cloud services worth SEK 351.1 million (421.0) were contracted, a decrease by 16.6 per cent.
- Recurring revenues (revenues from cloud and support services) amounted to SEK 1,255.6 million (1,069.3), an increase of 17.4 per cent.
Analysts conference (online)
Analysts are invited to a presentation of the quarterly report via an online conference today: Friday 27 October 2023 at 10:00-11:00 CET.
Dial-in number: +46 8 505 323 36 Sweden, Stockholm (Toll)
Conference ID: 968 243 1#
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 27-10-2023 08:00 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 12 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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