Proact: Fiscal 1Q20 Financial Results
Largely affected by uncertainty caused by Covid-19
This is a Press Release edited by StorageNewsletter.com on April 24, 2020 at 2:31 pm| (in SEK million) | 1Q19 | 1Q20 | Growth |
| Revenue |
910 | 844 | -7% |
| Net income (loss) | 21.6 | 25.8 |
Proact IT Group reports its financial results for the period ending in March 2020.
Improved profitability and continued positive development of service revenues
• Revenues decreased by 7% to SEK 844 (910) million.
• Adjusted EBITA amounted to SEK 42.6 (43.1) million. Items affecting comparability during first quarter previous year amounted to SEK 11.1 million related to reorganisation.
• Profit before tax increased by 25% and amounted to SEK 33.4 (26.8) million.
• Profit after tax amounted to SEK 25.8 (21.6) million.
• Profit per share amounted to SEK 2.85 (2.34).
• New contracts relating to cloud services worth SEK 51 (61) million has been concluded, a decrease by 16%.
• New services launched within Proact’s backup and security offer including backup-as-a-service for Office 365, anti-phishing-as-a-service, and SIEM-as-a-service.
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