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An announcement from Atea ASA ( (ATAZF) ) is now available.
Atea ASA posted strong first-quarter results, with gross sales rising 11.5% to NOK 14.8 billion on the back of surging hardware demand and solid growth in software and cloud offerings. Net revenue climbed 12.9% to NOK 9.7 billion and gross profit reached NOK 2,843 million, though the gross margin narrowed to 29.5% as hardware made up a larger share of the sales mix.
Operating profit jumped 69.5% to NOK 476 million, boosted by a NOK 152 million gain from the partial sale of its AppXite subsidiary, while underlying EBIT excluding this gain increased 15.4% to NOK 324 million. Profit before tax more than doubled to NOK 460 million and net profit rose to NOK 389 million, with management highlighting strong customer investment ahead of anticipated component shortages and positioning Atea as a resilient IT supplier amid market volatility.
The most recent analyst rating on (ATAZF) stock is a Buy with a NOK170.00 price target. To see the full list of analyst forecasts on Atea ASA stock, see the ATAZF Stock Forecast page.
More about Atea ASA
Atea ASA is the leading supplier of IT infrastructure in the Nordic and Baltic regions, with operations in 88 cities and more than 8,000 employees across Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. The company delivers hardware and software from major global vendors, alongside consulting and technical services to design, implement and operate customers’ IT environments, and is listed on the Oslo Stock Exchange.
Average Trading Volume: 157,129
Current Market Cap: NOK15.94B
See more insights into ATAZF stock on TipRanks’ Stock Analysis page.