While total revenue in Q2 2011 increased by 22.4%, services revenue increased as much as 33.5%, hardware was up by 23.0% and software was up by 13.1%.
EBITDA in Q2 2011 ended at MNOK 185.0 up 39.7% and the EBITDA margin was 3.7%, up from 3.3% in Q2 2010. EBIT in the quarter ended at MNOK 132.6 up 58.9%. The improvement in results is caused by a combination of the revenue growth and improved gross margins.
”I am very pleased to see the strong growth in earnings. Combined with the solid cash flow in the quarter this gives room for further growth both organically and through acquisitions,” says Claus Hougesen, CEO in Atea.
In Q2 2011 Atea announced the acquisition of Confuto Systems AS in Norway, which adds strong technical competences and strengthens Atea’s position within the market for IT Infrastructure management in Norway.
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 have 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 country targets,” 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