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Atea Q2 2022 financial report and presentation

Interim Report 2022-07-14

Atea, the leading provider of IT infrastructure products and services in the Nordic and Baltic regions, reported rapid growth in revenue and profit in the second quarter of 2022.

Atea’s gross sales in Q2 2022 was a record high NOK 12.2 billion, an increase of 11.5% from last year. Currency fluctuations had a negative impact on reported growth, as revenue in foreign currencies was translated into a stronger Norwegian krone. Organic sales growth in constant currency was 13.8%. 

IFRS revenue in the second quarter was NOK 7.6 billion, an increase of 13.4% from last year. Organic revenue growth in constant currency was 15.4%. All business lines – hardware, software and services – had very strong growth compared with last year.

EBIT in the second quarter was NOK 281 million, compared with NOK 206 million last year. EBIT was positively impacted by the sale of Atea’s mobile service provider business in Norway. As stated in a stock exchange notice on April 7, Atea Norway recognized a net positive EBIT impact of NOK 40 million from the sale during the second quarter, after provisions for seller’s guarantees and other liability provisions. Excluding this impact, Atea’s EBIT grew by 17.0% from last year.

Net profit after tax in the second quarter was NOK 222 million, compared with NOK 142 million last year. Earnings per share was NOK 1.99, up 57% from last year.

“Atea had high growth across all business lines in the second quarter. Demand for IT infrastructure in the Nordics and Baltics continues to be very strong, and we maintain a positive business outlook despite concerns about the overall economy,” commented Group CEO Steinar Sønsteby. “Organizations are investing in IT solutions to adapt to a changing workplace and to digitally transform their operations. As the leading provider of IT infrastructure in our geographies, Atea is in an ideal position to benefit from this trend. Atea has a stable base of public sector and large corporate customers with the resources to invest in information technology throughout the economic cycle.”

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/2022/webcast-q2-22/

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
 

About Atea
Atea is the leading supplier of IT infrastructure in the Nordic and Baltic regions. Atea is present in 85 cities with almost 8,000 employees in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers hardware and software from leading global vendors, and provides consulting and technical services to support its customers with the design, implementation and operation of their IT environments. Atea had revenue of approximately NOK 41 billion (EUR 4.1 billion) in 2021 and is listed on Oslo Stock Exchange. www.atea.com 

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