Atea reported another consecutive quarter of strong sales growth, record profits and solid cash flow from operations in Q1 2023.
- Rapid revenue growth: Group revenue in Q1 2023 increased by 26% to NOK 8,692 million. Organic revenue growth in constant currency was 19%. Growth was spread across all countries and all lines of business. Hardware revenue grew by 28%, software revenue grew by 38% and services revenue grew by 19%.
- Record high operating profit: Based on strong sales performance, Atea’s operating profit (EBIT) increased by 37% to a record high NOK 250 million in the first quarter. Net profit after tax was NOK 175 million, up from NOK 131 million last year.
- Strong cash flow from operations: Atea’s cash flow from operations was NOK 205 million in the first quarter, up by NOK 901 million from last year. Cash flow was driven by higher profits and a reduction in the working capital balance compared with last year.
“I am very pleased with the first quarter results and with the long-term performance of our company,” commented Atea CEO Steinar Sønsteby. “Demand for IT infrastructure continues to be solid across our markets, and our company is successfully executing its growth strategy in all business segments. Atea has established a unique competitive position as the largest IT infrastructure provider in the Nordic region, and the only company offering a complete range of products and services. Atea’s role as a full-service IT partner is more important than ever for our customers as they invest in digital transformation and as their IT environments become larger and more complex.”
The interim report and presentation are available at:
www.atea.com/financial-reports/
A webcast of management's presentation of the financial results is available at:
www.atea.com/financial-reports/2023/webcast-q1-23/
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 88 cities with over 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 gross sales of approximately NOK 47 billion (EUR 4.6 billion) in 2022 and is listed on Oslo Stock Exchange. www.atea.com