In first half of 2009 Atea generated revenue of MNOK 7,289.3 and a revenue growth of 4.4% and gained market shares within all business lines; hardware, software and services businesses.
EBITDA for first half ended at MNOK 208.2. Cash flow from operations increased to MNOK 188.5 in first half of 2009 from MNOK 178.9 last year.
“In view of the distressed world economy during the first half of 2009 and the expectations that the total Nordic IT infrastructure market will decline by 2.1% this year, we are of course very pleased with our own performance and that our attacking approach combined with high cost consciousness in our organization are creating strong results during a challenging period. We expect the second half of 2009 to be challenging as well and will continue being close upon our existing and new customers every day to try to win every order,” says Claus Hougesen, CEO Atea ASA.
In second quarter 2009 revenue ended at MNOK 3,785.3 up 0.8% from NOK 3,756.5 million last year and EBITDA ended at satisfying MNOK 117.0. Hardware revenue was 5.6% lower than last year but still a satisfying performance in a declining hardware market. Services revenue increased by 4.5% and software revenue increased by 10.1%. Atea continued gaining market shares in all three business lines during the second quarter of 2009.
Atea is an active acquirer during the crisis and acquired the outsourcing and hosting activities from Mondo A/S in second quarter. This acquisition strengthened the existing outsourcing and hosting business unit in Denmark with capabilities within IaaS (Infrastructure as a Service) and cloud computing, and a number of new customers are adding scale to the existing business.
“Going forward our main focus the coming quarters is to continue delivering stable revenues and solid profits in a period with a distressed world economy. We focus strongly on gaining market shares during the crisis and every day we are building an even stronger platform for growth which will enable us to reach our ambitious target of NOK 20 billion in revenue in 2011. We will of course continue focusing on costs and execution of our cost saving programme launched in the beginning of the year,” says Claus Hougesen.
Atea paid dividends of MNOK 91.7 to shareholders during second quarter and maintains the financial strength during the economic crisis due to a strong and stable cash flow. Net interest bearing debt ended at MNOK 677.4 and cash reserves including unutilised facilities were MNOK 1,138.2.
Atea is clearly focused on reaching the corporate target 20:11:1. - which means that Atea expects to reach NOK 20 billion in revenue and NOK 1 billion in EBITDA in 2011.
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 4400 employees. Atea is present in 71 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. The Group deliver IT products from leading vendors and assist our customers with specialist competencies within IT infrastructure services. Atea has an annual revenue approximately NOK 15 billion and is listed on Oslo Stock Exchange