Proact: Fiscal 1Q24 Financial Results

Here is the financial report of Proact IT Group AB for the period January-March 2024.

Continued growth in the service business and increased profitability

January-March 2024

• Revenue decreased Y/Y by 2.4% to SEK 1,191.3 million (1,220.3).

• Adjusted EBITA increased by 66.4% and amounted to SEK 94.5 million (56.8), corresponding to an adjusted EBITA margin of 7.9% (4.7).

• Earnings before tax amounted to SEK 76.2 million (37.3).

• Earnings after tax amounted to SEK 60.7 million (27.9).

• Earnings per share amounted to SEK 2.22 (1.02).

• New contracts relating to cloud services worth SEK 182.7 million
(116.6) were contracted, an increase by 56,7%.

• Recurring revenues (revenues from cloud and support services)
amounted to SEK 441.5 million (399.1), corresponding to an
annualized rate of SEK 1,766.1 million (1,596.4) and an increase of
10.6%.

• During the quarter, 289 242 shares have been acquired within the
buy-back program that was launched in 2023.