Atea increase earnings in Q4 2009
(Thomson Reuters ONE) - Atea, the number one supplier of IT infrastructure products and services in theNordic and Baltic region, today announced fourth quarter 2009 results with anEBITDA of MNOK 234.5 up 22.5% compared to Q4 2008. Full year 2009 revenuereached MNOK 14,588.6 and EBITDA for 2009 was MNOK 550.3, which are at the samelevels as in 2008.In Q4 2009 Atea generated revenue of MNOK 4,409.1 representing a negative growthof 6.4% but a flat revenue level in constant currency. EBITDA ended at MNOK234.5 up 22.5% and the EBITDA margin was improved to 5.3% from 4.1% in fourthquarter last year.Full year 2009 Atea reached revenue of MNOK 14,588.6 which is 1.2% lower than in2008 and EBITDA ended at MNOK 550.3 and a margin of 3.8%, which is up from MNOK547.5 and 3.7% in 2008. Atea generated MNOK 731.8 in cash from operations in2009, which is up from MNOK 501.3 in 2008."In a challenging market in 2009 Atea delivered a strong performance and gainedmarket shares. I am pleased to see that our attack plans and cost saving programhave worked effectively and that we successfully have maintained the winningspirit and high motivation in the organization. Atea is today even stronger andbetter positioned for reaching our growth targets in our 20:11:1 plan," saysClaus Hougesen, CEO in Atea.Atea acquired four companies during Q4 2009 within growth areas; the leadingvideo conferencing and AV solution provider Calamus Danmark and the softwarelicense sales company Aprismo in Denmark, the video conferencing and IPtelephony company A Communication in Finland and Uni Networks, specialized indelivery of wireless and cabled infrastructure in Norway.Net interest bearing debt ended at MNOK 214.1 as of December 2009 and theoperational gearing measured by net interest bearing debt divided by EBITDA was0.4, indicating a solid financial position of Atea.The solid result in 2009 and the strong cash flow of more than MNOK 700 togetherwith the expectations for 2010, gives again Atea the opportunity to paydividend. The Board will suggest to the General Assembly to pay NOK 1.25 pershare in dividend for 2009.Atea has a 20:11:1 growth plan with the intent to reach NOK 20 billion inrevenue and NOK 1 billion in EBITDA in 2011. "Our aim is to continuously beoffensive and to keep gaining market shares within IT infrastructure. In orderto reach our ambitious target 20:11:1 Atea is expecting to grow both organicallyand through acquisitions in 2010 and 2011," says Claus Hougesen.The quarterly report and presentation is available at www.atea.com/reports
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Datum: 03.02.2010 - 08:09 Uhr
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News-ID 12001
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