Atea, the leading supplier of IT infrastructure products and services in the Nordic and Baltic regions, reports improved net profit in the fourth quarter of 2019. The improvement was based on higher sales of software and services, and low growth in operating expense.
Financial highlights are as follows:
- Revenue of NOK 10.2 billion (NOK 10.2 billion)
- EBIT before share-based compensation of NOK 330 million (NOK 312 million)
- EBIT of NOK 305 million (NOK 309 million)
- Net profit after tax of NOK 218 million (NOK 204 million)
- Cash flow from operations of NOK 1.9 billion (NOK 2.3 billion)
For the full year 2019, Atea reported revenue of NOK 36.7 billion, up 5.6 percent from the prior year. Revenue growth was driven by higher sales of software and services. EBIT increased by 8.2 percent to NOK 747 million, and net profit increased by 13.4 percent to NOK 530 million.
“During 2019, Atea reported solid growth in revenue and profitability, despite a more challenging market environment at the end of the year,” commented Atea CEO Steinar Sønsteby. “Our company has made significant investments in business development and the organization to meet the needs of our customers in a fast-changing industry. We look forward to 2020 with confidence that we are well positioned in key technology areas which will drive growth in our industry in the years to come.”
Atea expects the market for IT infrastructure to continue to grow, as organizations invest in new IT solutions to enhance productivity and redefine how they provide goods and services. This adoption of new technologies is creating greater complexity for IT departments, and driving increased demand for specialist competence in IT infrastructure and system integration. This trend strongly benefits Atea, as a system integrator with expertise across multiple product platforms.
The interim report and presentation are available at https://www.atea.com/investors/financial-reports/
A webcast of management's presentation of the financial results is available at https://www.atea.com/investors/financial-reports/2019/webcast-q4-19/
For further information, please contact:
Steinar Sønsteby, CEO Atea ASA, mobile (+47) 930 55 655
Robert Giori, CFO Atea ASA, mobile (+47) 934 09 188
Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with more than 7,500 employees. Atea is present in 85 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 37 billion in 2019 and is listed on Oslo Stock Exchange. www.atea.com