While total revenue in Q4 2011 increased by 9.4%, software revenue increased as much as 13.9%, hardware was up by 7.5% and consulting and services was up by 10.6%. Full year revenue reached MNOK 20,227.8 corresponding to a growth of 18.8% in constant currency.
EBITDA in Q4 2011 ended at MNOK 374.9 up 24.8% and the EBITDA margin was 5.8%, up from 5.0% in Q4 2010. Full year EBITDA for 2011 reached MNOK 871.1 which is 29.0% higher than 2010 and EBIT ended at MNOK 651.3, which is up 37.3% from 2010. The improvement in results is caused by a combination of the revenue growth and a focus on cost control.
The generated cash flow from operations in 2011 was MNOK 1,054.8 up from MNOK 586.5 in 2010 – an increase of 79.8%. The strong cash flow implies that the Group ended the year being net cash positive with MNOK 289.0
”I am very pleased to see the strong growth in earnings and in particular the solid cash flow, meaning that Atea is net cash positive by end of 2011,” says Claus Hougesen, CEO in Atea.
In Q4 2011 Atea announced the acquisition of Sunnmøre Kommunikasjon AS in Norway which is a specialized supplier of telecommunications solutions to the maritime industry.
Atea has over the last years invested in high growth areas such as Collaboration, Mobility, Virtualization, Software Asset Management, Windows 7, Consumerization and Green IT. Leveraging on these investments in high growth areas gives comfort that Atea can continue to grow at a pace which is faster than the market in general.
“Rounding off 2011 with such a strong quarter is the perfect stepping stone for our new strategic plan “Together Towards The Top”. With continuous high ambitions the new target is to deliver a revenue of NOK 30 billion and EBITDA of NOK 1.8 billion by 2015,” 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