While total revenue in Q1 2011 increased by 30.2%, hardware revenue increased as much as 34.8%, services was up by 36.6% and software was up by 10.0%.
“I am very pleased to see that we have been able to continue our high growth rate into 2011. The fact that we have been able to grow 30.2% in the quarter in a market which according to IDC will grow 6.3% this year shows that Atea continues to gain considerable market shares. The combination of strong organic growth, growth through acquisitions and increased earnings, further strengthen our position in the market,” says Claus Hougesen, CEO in Atea.
EBITDA in Q1 2011 ended at MNOK 161.1 up 34.6% and the EBITDA margin was 3.5%. EBIT in the quarter ended at MNOK 109.7 up 44.1% and the margin was 2.4%. The improvement in results is primarily caused by the strong revenue growth.
In Q1 2011 Atea announced two acquisitions. In Sweden Atea acquired Malux Data AB with a strong local market position in the Örnsköldsvik area in the Northern part of Sweden and in Denmark Atea acquired the specialized storage, backup and archiving company SCT.
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 our ambition to deliver operating revenue of NOK 20 billion and EBITDA of NOK 1 billion in 2011,” 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