Atea Q4 2024 financial report and presentation

06 Feb 2025 07:00 CET

Atea reported rapid growth in sales, higher net profit, and very strong cash
flow from operations in Q4 2024. Demand was strong across all major product
categories.

Gross sales in Q4 increased by 14.9% to NOK 16.5 billion. Organic growth in
constant currency was 13.6%. Currency fluctuations had a positive impact of 1.1%
on sales growth. Hardware sales grew by 18.8%, software sales grew by 16.0%, and
services sales grew by 3.6% from last year.

Total revenue (IFRS) grew by 12.9% to NOK 10.6 billion. Gross profit grew by
1.4% to NOK 2.8 billion. Sales margins were lower in hardware, software and
services, due to customer mix and severe price competition.

EBIT before restructuring costs in Q4 2024 was NOK 405 million, the same as last
year. Atea had MNOK 39 million in restructuring costs in the fourth quarter, in
line with communication in the Q3 2024 presentation. Pre-tax profit was NOK 329
million, up from NOK 311 million last year. Net profit after tax was NOK 253
million, up from NOK 250 million last year.

Cash flow from operations was an inflow of NOK 2.2 billion, compared with an
inflow of NOK 1.6 billion last year. Cash flow was driven by an increase in cash
earnings, and a large seasonal reduction in working capital items.

Atea CEO Steinar Sønsteby commented: "The IT infrastructure sector is emerging
from a cyclical downturn, with demand picking up across all product categories
in the fourth quarter. Atea's strong sales growth in Q4 was driven by improved
market conditions and other factors that we have highlighted in previous
presentations - including new frame agreements, increased public sector spending
within defense, the impact of Windows 10 end-of-life on PC renewals, and high
customer interest in sustainability, security and AI solutions."

For further information, please contact:
Steinar Sønsteby, CEO Atea ASA, mobile (+47) 930 55 655
Robert Giori, CFO Atea ASA, mobile (+47) 934 09 188


About Atea
Atea is the leading supplier of IT infrastructure in the Nordic and Baltic
regions. Atea is present in 88 cities with nearly 8,000 employees in Norway,
Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers hardware
and software from leading global vendors, and provides consulting and technical
services to support its customers with the design, implementation and operation
of their IT environments. Atea had revenue of approximately NOK 35 billion (EUR
3 billion) in 2024 and is listed on Oslo Stock Exchange. www.atea.com

More information:
Access the news on Oslo Bors NewsWeb site

637819_ATEA_Q4_2024_Report.pdf
637819_Atea_Presentation_Q4_2024_Fact_pack.pdf