Proact IT Group AB: Interim Report January - September 2023
Good development in the services business and cost program that delivers results
- Revenues decreased by 3.0 per cent to SEK 1,065.3 million (1,098.6).
- Adjusted EBITA decreased by 7.0 per cent and amounted to SEK 72.8 million (78.3), corresponding to an adjusted EBITA margin of 6.8 per cent (7.1).
- Profit before tax amounted to SEK 63.7 million (56.1).
- Profit after tax amounted to SEK 50.9 million (43.9).
- Profit per share amounted to SEK 1.85 (1.60).
- New contracts relating to cloud services worth SEK 118.8 million (158.1) were contracted, a decrease by 24.9 per cent.
- Recurring revenues (revenues from cloud and support services) amounted to SEK 436.7 million (369.7), corresponding to an annualized rate of SEK 1,746.8 million (1,478.6) and an increase of 18.1 per cent.
- On August 28th, Proacts subsidiary in Lithuania was divested, which had a positive effect on the operating profit of SEK 3.1 million, which is reported under items affecting comparability, and is expected to have a marginally positive effect on the result going forward.
- Revenues increased by 5.1 per cent to SEK 3,487.3 million (3,316.8).
- Adjusted EBITA decreased by 0.8 per cent and amounted to SEK 211.0 million (212.8), corresponding to an adjusted EBITA margin of 6.0 per cent (6.4).
- Cost efficiency program implemented with estimated savings amounting to between SEK 45 and 50 million in the current year, which has resulted in restructuring costs during the second quarter, accounted for as items affecting comparability of SEK -19.8 million.
- Profit before tax amounted to SEK 135.5 million (158.2).
- Profit after tax amounted to SEK 107.5 million (127.0).
- Profit per share amounted to SEK 3.91 (4.62).
- New contracts relating to cloud services worth SEK 351.1 million (421.0) were contracted, a decrease by 16.6 per cent.
- Recurring revenues (revenues from cloud and support services) amounted to SEK 1,255.6 million (1,069.3), an increase of 17.4 per cent.
Analysts conference (online)
Analysts are invited to a presentation of the quarterly report via an online conference today: Friday 27 October 2023 at 10:00-11:00 CET.
Dial-in number: +46 8 505 323 36 Sweden, Stockholm (Toll)
Conference ID: 968 243 1#
Local dial-in numbers (https://dialin.teams.microsoft.com/4493e303-1d58-48aa-b745-7db0be08f9f3?id=9682431)
This disclosure contains information that Proact IT Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 27-10-2023 08:00 CET.