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Proact: Fiscal 1Q14 Financial Results

Increasing cloud revenue and improved operating income

 (in SEK million) 1Q13  1Q14
 Revenues 573  592
 Growth    3%
 Profit after tax 14.1 10.8

Proact IT Group announced its financial results
for the first quarter of 2014 from January to March 2014:

  • Revenue increased by 3% to SEK 592 (573) million, and revenue remained unchanged when adjusted for currency effects.
  • EBITDA fell by 6% to SEK 35.0 (37.1) million. When adjusted for non-recurring items in the first quarter of 2013 in the amount of SEK 6.2 million, EBITDA increased by 13%.
  • Profit before tax increased by 7% to SEK 17.5 (16.4) million. When adjusted for non-recurring items in the first quarter of 2013 in the amount of SEK 6.2 million, profit before tax increased by 72%.
  • Profit after tax fell by 23% to SEK 10.8 (14.1) million.
  • Profit per share fell by 8% to SEK 1.10 (1.20).
  • Return on equity over the last 12 months amounted to 9.8 (19.4)%. Return on equity as at 31 December 2013 amounted to 11.6%.
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