Proact IT Group: Fiscal 4Q14 Financial Results

(in SEK million)	4Q13	4Q14	FY13	FY14
Revenue	737.1	705.7	2,305	2,325
*Growth*		4%		1%
Profit after tax	12.1	21.4	27.2	59.9

Proact IT Group released financial results for the fourth quarter and year ended December 31, 2014.

2014 in brief

Revenue increased by 1% to SEK 2,325 (2,305) million, and revenue fell by 3% when adjusted for currency effects.
EBITDA increased by 13% to SEK 144.2 (128.1) million.
Profit before tax increased by 95% to SEK 85.2 (43.7) million.
Profit after tax increased by 120% to SEK 59.9 (27.2) million
Profit per share amounted to SEK 6.16 (2.36).
Return on equity amounted to 23.4 (11.6).
A non-recurring item attributable to previous years has adversely affected operating profit in the sum of SEK 2 million. Total non-recurring items in 2013 amounted to SEK 21.1 million.
The board of directors proposes that the Annual General Meeting should elect to pay a dividend of SEK 1.70 (1.20) per share.

The fourth quarter in brief

Revenue decreased by 4% to SEK 705.7 (737.1) million, and revenue fell by 7% when adjusted for currency effects.
EBITDA increased by 6% to SEK 43.2 (40.6) million.
Profit before tax increased by 30% to SEK 30.0 (23.0) million.
Profit after tax increased by 78% to SEK 21.4 (12.1) million
Profit per share amounted to SEK 2.24 (1.24).
Non-recurring item attributable to previous years has adversely affected operating profit in the sum of SEK 2 million.

The Proact Group, founded in 1994, has more than 660 employees and conducts business in Belgium, Czech Republic, Denmark, Estonia, Finland, Germany, Latvia, Lithuania, the Netherlands, Norway, Slovakia, Spain, Sweden, the UK and USA.