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Atea reports improved revenue, earnings and cash flow

July 14, 2014

Atea ASA / Atea reports improved revenue, earnings and cash flow . 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, earnings and cash flow in the second quarter of 2014. In the second quarter of 2014, Atea reported revenue of NOK 5,981 million, corresponding to a growth of 8.7% compared with the second quarter of 2013. Hardware revenue increased by 9.9%, services revenue increased by 0.8%, and software revenue was up by impressive 13.0%. "We are reporting revenue growth across all business areas, but I am especially pleased to see that our PC business after a couple of tough years is back on a growth track. We saw positive growth rates already in the first quarter, and are reporting double digit growth rates in the second quarter," says Steinar SØnsteby, CEO of Atea. EBITDA improved 26.0% in the second quarter of 2014, and ended at NOK 177 million, up from NOK 140 million in the second quarter of 2013. The EBITDA margin increased to 3.0%, up from 2.6% last year. "I am very pleased to see EBITDA growth of 26%. The impressive EBITDA improvement has been achieved through a combination of revenue growth and a high focus on operational costs," says SØnsteby. The cash flow from operations improved NOK 291 million from NOK 158 million in the second quarter last year to NOK 449 million this year due to the increased cash earnings and working capital improvements. In the first half of 2014, Atea reported revenue of NOK 11,866 million corresponding to a growth of 12.1%. EBITDA for the first six months of 2014 was NOK 358 million corresponding to a growth of 27.1%, and cash flow from operations has improved NOK 373 million compared to the same period last year. Atea will utilize its strong financial position to continue investing in customer relevance. This means developing concepts and solutions for a future where customers will challenge the IT companies to utilize the technology in new ways to improve the outcome for the customer. Atea continues to improve its position in an ever faster changing market environment. The interim report and presentation are available at The press conference is available via webcast at The Stock Exchange Announcement is available at For further information, please contact: Steinar SØnsteby, CEO Atea ASA, mobile (+47) 930 55 655 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 6,100 employees. Atea is present in 83 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 2014 and is listed on Oslo Stock Exchange. Atea_Q214_Interim_Report: 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#1825072]

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Source: Thomson Reuters ONE

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