Atea ASA

ATEA

Equity

ISIN NO0004822503 / Valor 599406

Oslo Stock Exchange (2024-09-18)

NOK 141.60+0.71%

Atea ASA
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About company

Atea ASA, formerly known as Merkantildata, is a leading provider of IT infrastructure and related services in the Nordic and Baltic regions. With a history dating back to 1968, Atea has established itself as the largest supplier of IT solutions in Norway and has expanded its operations to Sweden, Denmark, Finland, Lithuania, Latvia, and Estonia. The company, listed on the Oslo Stock Exchange, generated revenue of approximately NOK 35 billion (EUR 3.1 billion) in 2023. Atea's mission is to "build the future with IT" by leveraging information technology to enhance productivity and living standards. As a top channel partner for major technology companies like Microsoft, Apple, Cisco, and HP Inc, Atea holds the highest level of vendor certification and has received numerous awards for its performance. Through strategic mergers and acquisitions, Atea has strengthened its market presence and scale advantages, solidifying its position as a market leader in IT infrastructure services for businesses and public-sector organizations in the region.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

Atea ASA reported a revenue of NOK 7.6 billion for Q1 2024, which represents a 12.5% decline year-over-year. This decrease is attributed to an exceptionally strong comparable period last year when demand for office IT infrastructure surged as organizations returned to on-premise work post-COVID.

Gross Profit Increase

Despite the revenue decline, Atea ASA's gross profit for Q1 2024 increased by 1.9% year-over-year, reaching NOK 2.6 billion. The gross margin improved to 33.6%, up from 28.9% last year, due to better hardware margins and a higher proportion of software and services in the revenue mix.

EBIT Growth

Atea ASA's EBIT for Q1 2024 grew by 2.2% year-over-year to NOK 256 million. The EBIT margin also improved, rising to 3.4% from 2.9% in the same period last year. This growth was driven by solid performance in the software and services segments and improved hardware margins.

Net Profit Increase

The net profit for Atea ASA in Q1 2024 was NOK 192 million, marking a 9.6% increase compared to the same period last year. This improvement was supported by lower net financial expenses, which decreased from NOK 26 million to NOK 10 million, partly due to foreign currency gains.

Software and Services Growth

In Q1 2024, Atea ASA saw an 8.4% increase in software revenue, driven by higher demand from the public sector. Services revenue also grew by 3.7%, primarily due to strong sales of managed service agreements. These segments contributed positively to the overall financial performance despite a challenging hardware market.

Summarized from source with an LLMView Source

Key figures

6.95%1Y

-9.23%3Y

17.4%5Y

Performance

27.1%1Y

27.0%3Y

30.2%5Y

Volatility