While total revenue in Q3 2011 increased by 15.6%, services revenue increased as much as 28.8%, hardware was up by 11.1% and software was up by 18.2%.
EBITDA in Q3 2011 ended at MNOK 150.2 up 22.3% and the EBITDA margin was 3.7%, up from 3.5% in Q3 2010. EBIT in the quarter ended at MNOK 97.6 up 38.3%. The improvement in results is caused by a combination of the revenue growth and a focus on cost control.
”I am very pleased to see the strong growth in services revenue. The continued growth in this high margin business is important for our increased profitability going forward,” says Claus Hougesen, CEO in Atea.
In Q3 2011 Atea announced the acquisition of the specialized AV solutions company FotoPhono AS in Norway and UAB Elsis IT, which is the third largest and recognized as one of the strongest IT infrastructure companies in Lithuania.
Significant IT infrastructure solutions, such as Unified Communications, Mobility, Virtualization, Cloud Solutions, Datacenter Solutions, Software Asset Management, Device Lifecycle Management, Print/Copy, Green IT and Consumerization, areas in which Atea has invested and has a strong foothold, will also be important growth areas going forward.
“With continuous high ambitions and a firm focus on cost and EBITDA margin, the goal is to deliver further growth and profit. We maintain the ambition to reach our 20:11:1 plan, based on local currencies,” says Claus Hougesen.
For further information, please contact:
Claus Hougesen, CEO Atea ASA, mobile + 45 3078 1200
Rune Falstad, CFO Atea ASA, mobile + 47 906 14 482