Atea, the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions, reports rapid growth in operating profit in the second quarter of 2017, despite currency headwinds from a stronger Norwegian krone.
Atea revenue in Q2 2017 was NOK 8,409 million, a decrease of 0.4% compared with last year. A stronger Norwegian krone relative to other Nordic currencies negatively impacted revenue by 1.5% compared with last year.
EBITDA was NOK 220 million, an increase of 7.6% from NOK 204 million in Q2 2016, and reflects higher gross margins and flat trend in operating expenses. EBIT in the second quarter grew by 23.9% to NOK 125 million, and pretax profit grew by 24.7% to NOK 106 million. The Group’s cash flow from operations ended at NOK -395 million, down from NOK -71 million in the second quarter of 2016.
“Atea delivered strong growth in profitability, based on higher gross margin and cost control in the second quarter,” commented Atea CEO Steinar Sønsteby.
Atea expects continued growth in the IT infrastructure market, as organizations invest in new IT solutions to enhance productivity. 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.
Based on its leading market position and competitive advantages as an IT infrastructure and system integration specialist, Atea is becoming an ever more important partner to customers across the Nordic and Baltic regions, and is well-positioned to capture the long-term growth opportunities within the IT infrastructure market.
The financial report, presentation and press release for Q2 2017 are enclosed.
The interim report and presentation are available at https://www.atea.com/investors/financial-reports/
The press conference is available via webcast at https://www.atea.com/investors/financial-reports/2017/webcast-q2-17/
The Stock Exchange Announcement is available at https://www.atea.com/about-atea/news/
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 6,900 employees. Atea is present in 86 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 31 billion in 2016 and is listed on Oslo Stock Exchange https://www.atea.com