Proact: Fiscal 2Q23 Financial Results

(in SEK million)	2Q22	2Q23	6 mo. 22	6 mo. 23
Revenue	1,153.7	1,201.7	2,218.2	2,422.0
*Growth*		4%		9%
Net income (loss)	49.1	28.7	83.0	56.6

Proact IT Group AB announced its financial results for 2FQ23 and 1FH23.

April-June 2023
• Revenues increased by 4.2% to SEK 1,201.7 million (1,153.7).
• Adjusted EBITA decreased by 0.9% and amounted to SEK 81.4 million (82.1), corresponding to an adjusted EBITA margin of 6.8% (7.1).
• Cost efficiency program implemented with estimated savings amounting to between SEK 45 and 50 million in the current year, which resulted in restructuring costs accounted for as items affecting comparability of SEK 19.6 million.
• Profit before tax amounted to SEK 34.4 million (64.7).
• Profit after tax amounted to SEK 28.7 million (49.1).
• Profit per share amounted to SEK 1.05 (1.79).
• New contracts relating to cloud services worth SEK 115.6 million (141.4) were contracted, a decrease by 18.2%.
• Recurring revenues (revenues from cloud and support services) amounted to SEK 419.8 million (353.3), corresponding to an annualized rate of SEK 1,679.4 million (1,413.3) and an increase of 18.8%.

January-June 2023
• Revenues increased by 9.2% to SEK 2,422.0 million (2,218.2).
• Adjusted EBITA increased by 3.0% and amounted to SEK 138.6 million (134.6), corresponding to an adjusted EBITA margin of 5.7% (6.1).
• Profit before tax amounted to SEK 71.8 million (102.1).
• Profit after tax amounted to SEK 56.6 million (83.0).
• Profit per share amounted to SEK 2.06 (3.03).
• New contracts relating to cloud services worth SEK 232.2 million (262.9) were contracted, a decrease by 11.7%.
• Recurring revenues (revenues from cloud and support services) amounted to SEK 818.9 million (699.6), an increase of 17.1%.