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Atea reports improved revenue and earnings and continues to gain market share

February 4, 2014

Atea ASA / Atea reports improved revenue and earnings and continues to gain market share . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement. Atea, the number one supplier of IT infrastructure products and services in the Nordic and Baltic region, reports improved revenue and earnings, and continued to gain market share in the fourth quarter of 2013. In the fourth quarter of 2013, Atea reported revenue of NOK 6,846 million , corresponding to a growth of 8.3% compared with the fourth quarter of 2012. Services revenue increased by an impressive 11.4%, hardware revenue increased by 9.2% and software revenue was up by 3.4%. EBITDA in the fourth quarter of 2013 ended at NOK 361 million up from NOK 349 million in the fourth quarter of 2012. The EBITDA result corresponds to an EBITDA margin of 5.3% for the quarter. The market conditions remained weak in the fourth quarter of 2013, and Atea is still experiencing a hesitancy to invest among its customers. The challenging market conditions have according to IDC led to a decline in the Nordic hardware market of 0.7%, while the total IT infrastructure market grew 1.6%. When comparing Atea's growth to that of the market it is evident that Atea continued to gain market share in the fourth quarter of 2013. "Considering the continued challenging market conditions, I am pleased to see that both revenue and EBITDA have improved from the fourth quarter last year. This has been achieved at the same time as we have executed our operational efficiency programme according to plan, and going into 2014 we are therefore well positioned to improve earnings." says Claus Hougesen , CEO of Atea. The cash flow from operations was NOK 1,073 million for the quarter. Based on the strong cash flow and balance sheet position the Board of Directors will propose to the Annual General Assembly in April 2014 to pay out dividend of NOK 6.00 per share, representing a dividend yield of 10% based on the share price at end of 2013. The full-year revenue in 2013 was NOK 22.1 billion , up 5.6% compared with 2012 and the highest in the company's history. EBITDA for the year ended at NOK 800 million corresponding to a margin of 3.6%. The interim report and presentation are available at www.atea.com/reports The press conference is available via webcast at www.atea.com/webcast The Stock Exchange Announcement is available at www.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 and has approximately 6,500 employees. Atea is present in 84 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 22 billion in 2013 and is listed on Oslo Stock Exchange . www.atea.com Atea_Q413_Interim_Report: http://hugin.info/85/R/1759239/594953.pdf This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire 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 GlobeNewswire [HUG#1759239]


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Source: Thomson Reuters ONE


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