2013-02-07 08:05:19 -
Atea ASA /
Atea continues to gain market share and reports strong cash flow
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Atea, the number one supplier of IT infrastructure products and services in the
Nordic and Baltic region, continued to gain market share in the fourth quarter
of 2012 and reports a record strong cash flow.
In the fourth quarter of 2012, Atea reported revenue of MNOK 6,321,
corresponding to a decline of 0.9% in constant currency compared with the fourth
quarter of 2011. Software revenue increased by an impressive 10.2% in constant
currency, services revenue increased by 7.4%, whereas hardware was down by 7.4%.
EBITDA in the fourth quarter of 2012 ended at MNOK 348 and the
cash flow from
operations was a record high of MNOK 1,130 bringing the company to a net cash
positive position of MNOK 49. Based on the strong cash flow and balance sheet
position the Board of Directors will propose to the Annual General Assembly to
increase the dividend to NOK 5.50 per share.
The uncertain macroeconomic situation in Europe has continued to impact the
Nordic IT infrastructure market, which according to IDC was down 4.2% in the
fourth quarter of 2012. The tougher market conditions have led to a decline in
the hardware market of 8.3%, where especially the client and server markets have
been affected with negative growth rates in excess of 15%. "I am pleased to see
that despite the tougher market conditions in the fourth quarter we have
continued gaining market share and generated a strong cash flow," says Claus
Hougesen, CEO of Atea.
The full-year revenue in 2012 was NOK 20.9 billion, up 5.2% in constant currency
compared with 2011 and the highest in the company's history. EBITDA for the year
ended at MNOK 822 corresponding to a margin of 3.9%.
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
Atea is the leading Nordic and Baltic supplier of IT infrastructure and has
approximately 6,300 employees. Atea is present in 82 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 approximately NOK 21 billion in
2012 and is listed on Oslo Stock Exchange. www.atea.com
Atea Q4 2012 Interim Report:
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Source: Atea ASA via Thomson Reuters ONE