Proact: Fiscal 3Q19 Financial Results
Sales down 3% Q/Q and remaining profitable
This is a Press Release edited by StorageNewsletter.com on October 18, 2019 at 2:14 pm(in SEK million) | 3Q18 | 3Q19 | Growth | 9 mo. 2018 | 9 mo. 2019 | Growth |
Revenue |
725 | 701 | -3% | 2,351 | 2,417 | 3% |
Profit after tax | 27.8 | 24.2 | -13% | 88.3 | 58.6 | -47% |
Proact IT Group AB announced its financial results for 3FQ19 ended September 2019
July – September 2019
• Revenues decreased by 3% to SEK 701 (725) million. Change in local currencies was -4%.
• Adjusted EBITA amounted to SEK 36.9 (45.3) million.
• Profit before tax amounted to SEK 30.0 (37.4) million.
• Profit after tax amounted to SEK 24.2 (27.8) million.
• Profit per share amounted to 2.64 (3.02) SEK.
• New contracts relating to cloud services worth SEK 87 (70) million has been concluded, an increase by 24%.
Revenues
January – September 2019
• Revenues increased by 3% to SEK 2,417 (2,351) million. Change in local currencies was 1%.
• Adjusted EBITA amounted to SEK 116.8 (145.3) million. Items affecting comparability amounted to SEK -20.2 million related to reorganisation and divestment of subsidiary.
• Profit before tax amounted to SEK 79.0 (117.5) million. Adjusted for items affecting comparability, profit before tax amounted to SEK 99.2 (120.1) million.
• Profit after tax amounted to SEK 58.6 (88.3) million.
• Profit per share amounted to 6.38 (9.63) SEK.
• New contracts relating to cloud services worth SEK 244 (172) has been concluded, an increase by 42%.
Proact has completed over 5,000 projects around the world, have more than 3,500 customers and currently manage in excess of 100PB of information in the cloud. It employs over 1,000 people with offices across 14 countries in Europe and North America. Founded in 1994, parent company, Proact IT Group AB was listed on Nasdaq Stockholm in 1999.