Atea reports revenue growth of 9.4% and EBIT growth of 27.5%
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Atea reports revenue growth of 9.4% and EBIT growth of 27.5%
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Atea, the number one supplier of IT infrastructure products and services in the
Nordic and Baltic region, today announced its results for the fourth quarter of
2011 which shows a revenue of MNOK 6,519.2, up 9.4% and EBIT of MNOK 311.4 up
27.5%.
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.
The quarterly report and presentation are available at www.atea.com/reports
The press conference is available through webcast atwww.atea.com/webcast
The Stock Exchange Announcement is available atwww.atea.com/ose
For further information, please contact:
Claus Hougesen, CEO Atea ASA, mobile + 45 3078 1200
Rune Falstad, CFO Atea ASA, mobile + 47 906 14 482
About Atea
Atea is the leading Nordic and Baltic supplier of IT infrastructure with
approximately 5800 employees. Atea is present in 79 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 more than NOK 20 billion in 2011
and is listed on Oslo Stock Exchange.www.atea.com
Atea Q411 Interim Report:
http://hugin.info/85/R/1582053/494242.pdf
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Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Atea ASA via Thomson Reuters ONE
[HUG#1582053]
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Datum: 02.02.2012 - 01:59 Uhr
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