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2024-02-08

Strong growth in recurring services

October - December 2023 

  • Revenues decreased by 5.6 per cent to SEK 1,360.0 million (1,440.1).
  • Adjusted EBITA decreased by 10.9 per cent and amounted to SEK 91.1 million (102.2), corresponding to an adjusted EBITA margin of 6.7 per cent (7.1).
  • Earnings before tax amounted to SEK 82.6 million (86.0).
  • Earnings after tax amounted to SEK 65.5 million (64.0).
  • Earnings per share amounted to SEK 2.39 (2.34).
  • New contracts relating to cloud services worth SEK 197.0 million (142.0) were contracted, an increase by 38.7 per cent.
  • Recurring revenues (revenues from cloud and support services) amounted to SEK 436.9 million (387.9), corresponding to an annualised rate of SEK 1,747.6 million (1,551.6) and an increase of 12.6 per cent.
  • A share buy-back program was launched during the quarter and as of December 31, 218,500 shares have been acquired within the program.

January - December 2023

  • Revenues increased by 1.9 per cent to SEK 4,847.3 million (4,756.8).
  • Adjusted EBITA decreased by 4.1 per cent and amounted to SEK 302.1 million (315.0), corresponding to an adjusted EBITA margin of 6.2 per cent (6.6).
  • 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.
  • Earnings before tax amounted to SEK 218.3 million (244.2).
  • Earnings after tax amounted to SEK 173.1 million (191.5).
  • Earnings per share amounted to SEK 6.29 (6.97).
  • New contracts relating to cloud services worth SEK 548.0 million (563.1) were contracted, a decrease by 2.7 per cent.
  • Recurring revenues (revenues from cloud and support services) amounted to SEK 1,692.5 million (1,457.2), an increase of 16.1 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.
  • The Board of Directors proposes that the Annual General Meeting resolves on a dividend of SEK 2.00 (1.85) per share.

  

  

Analysts conference (online)

Analysts are invited to a presentation of the quarterly report via an online conference today: Thursday 8 February 2024 at 10:00-11:00 CET.

Link to the event

ial-in number: +46 8 505 323 36 Sweden, Stockholm (Toll)
Conference ID:  968 243 1#

Local dial-in numbers


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 08-02-2024 08:00 CET.

For further information, please contact: 
Jonas Hasselberg, CEO, Proact IT Group AB, +46 722 13 55 56, jonas.hasselberg@proact.eu

Åsa Regen Jansson, Interim CFO & IR, Proact IT Group AB, +46 73 511 22 55, asa.regen.jansson@proact.eu

About Proact
Proact is Europe’s leading specialist in data and information management with focus on cloud services and data centre solutions. We help our customers to store, connect, protect, secure and drive value through their data whilst increasing agility, productivity and efficiency. We’ve completed thousands of successful projects around the world, have more than 4,000 customers and currently manage hundreds of petabytes of information in the cloud. We employ over 1,200 people in 12 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), was listed on Nasdaq Stockholm in 1999 (under the symbol PACT). For further information about Proact’s activities please visit us at www.proact.eu

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