Proact: 2H22 Financial Results

Proact IT Group AB announced its financial results for April-June 2022 and January-June 2022 periods.

April-June 2022
• Revenue increased by 31.3% to SEK 1,153.7 million (878.5).
• Adjusted EBITA increased by 78.5% and amounted to SEK 82.1 million (46.0), corresponding to an adjusted EBITA margin of 7.1 per cent (5.2).
• Profit before tax amounted to SEK 64.7 million (34.0).
• Profit after tax amounted to SEK 49.1 million (26.3).
• Profit per share amounted to SEK 1.79 (0.95).
• New contracts relating to cloud services worth SEK 141.4 million (71.9) were contracted, an increase by 96.7%.
• Recurring revenues (revenues from cloud and support services) amounted to SEK 353.3 million (286.9), corresponding to an annualized rate of SEK 1,413.3 million (1,147.6).
• On June 21, an agreement was signed to acquire sepago GmbH in Germany.

January-June 2022
• Revenue increased by 25.2% to SEK 2,218.2 million (1,772.1).
• Adjusted EBITA increased by 53.6 per cent and amounted to SEK 134.6 million (87.6), corresponding to an adjusted EBITA margin of 6.1 per cent (4.9).
• Profit before tax amounted to SEK 102.1 million (64.8).
• Profit after tax amounted to SEK 83.0 million (48.8).
• Profit per share amounted to SEK 3.03 (1.78).
• New contracts relating to cloud services worth SEK 262.9 million (149.8) were contracted, an increase by 75.5 per cent.
• Recurring revenue (revenue from cloud and support services) amounted to SEK 699.6 million (573.1).

Event after quarter ending
On July 1, the acquisition of sepago GmbH was completed with a purchase price of €12 million, on a cash-free and debt free basis, and with an additional earn-out of up to €4 million.