Slides
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April 29, 2025 Q1 2025 Presentation
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Highlights – Q1 2025 Revenue (IFRS) of NOK 8.6 billion Up 12.5% from last year Net financial position of NOK 250 million Up NOK 367 million from last year Gross sales of NOK 13.3 billion Up 16.4% from last year EBIT of NOK 281 million Up 9.8% from last year
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CURRENCY: MNOK Q1 2025 Q1 2024 Growth Hardware 5,753 4,950 16.2% Software 4,870 4,010 21.4% Services 2,648 2,439 8.6% Gross sales* 13,271 11,399 16.4% Revenue (IFRS) 8,553 7,606 12.5% Gross margin % 31.4% 33.6% -2.2% Gross profit 2,682 2,556 5.0% Operating expenses 2,401 2,300 4.4% EBIT 281 256 9.8% • Record high Q1 operating profit (EBIT), driven by strong sales growth across all lines of business Income statement – Q1 2025 ** Currency fluctuations impact sales growth on a Group level by +2.2% in Q1 2025
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% Gross sales Q1 2025 Q1 2025 Q1 2024 Growth% Q1 2025 Q1 2024 Growth% Norway, NOK 23 % 3,117 2,793 11.6 % 73 60 21.6 % Sweden, SEK 43 % 5,498 4,816 14.2 % 184 182 0.7 % Denmark, DKK 22 % 1,855 1,499 23.7 % 0 -7 N/A Finland, EUR 8 % 96.2 92.5 4.0 % 2.0 2.0 2.6 % Baltics, EUR 4 % 44.7 39.3 13.7 % 1.5 1.4 11.6 % Group Functions, NOK -83 -66 N/A -23 -16 N/A Atea Group, NOK* 100% 13,271 11,399 16.4% 281 256 9.8% EBITCurrency: Local in million Gross sales • Solid sales growth and improved EBIT in all countries Business unit performance – Q1 2025 ** Currency fluctuations impact sales growth on a Group level by +2.2% in Q1 2025
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-1,500 -1,000 -500 0 500 1,000 1,500 2,000 2,500 Q1 Q2 Q3 Q4 NOK in million 2020 2021 2022 2023 2024 2025 Cash flow from operations – Q1 2025 • Cash flow from operations was an outflow of NOK 881 million, in line with historic seasonal trends
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Net cash balance of NOK 250 million Net debt / EBITDA ratio of -0.1 Net financial position * Net financial position and rolling 4 quarter EBITDA as defined in Atea's loan covenants See Note 11 in Interim Financial Statements for further definition CURRENCY: MNOK 31 Mar 2025 31 Mar 2024 Interest-bearing liabilities -628 -947 Cash and cash equivalents 879 830 Net financial position* 250 -117 EBITDA - rolling 4 Q* 1,940 1,950 Net debt / EBITDA, end of quarter (ratio) -0.1 0.1 Loan covenant: - Maximum Net Debt / EBITDA ratio 2.5 2.5 - Maximum Net Debt balance 4,851 4,875 Gap between Net Debt and Loan Covenant 5,102 4,758
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2025 financial expectations • Gross sales of NOK 57 – 60 billion, growth rate of 6 - 11% • EBIT of NOK 1,330 – 1,450 million, growth rate of 10 - 20%* Key growth drivers • New frame agreements • Windows 10 end-of-life (October 2025) driving PC refresh cycle • Increased public spending on defense • IT security investments • AI adoption Business Outlook Solid growth in profitability throughout 2025, based on improved market conditions and key growth drivers * Represents growth in EBIT before restructuring costs (NOK 1,211 million in 2024)
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Most companies are still in the early stages of adopting AI After all the hype over artificial intelligence (AI), the value is hard to find. CEOs have authorized investments, hired talent, and launched pilots—but only 22% of companies have advanced beyond the proof-of-concept stage to generate some value, and only 4% are creating substantial value, according to new BCG research. Boston Consulting Group report “Where’s the value in AI”
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Global trade policy risks • Atea does not import manufactured goods directly from (or export to) the US. Therefore, recent tariff announcements do not directly impact Atea Economic cycle risks • 65-70% of Atea’s sales are to public sector customers (less influenced by economic cycle) • Nordic region is generally stable (political and economic environment) • Nordic IT infrastructure market has historically had a lower degree of cyclicality • Atea has a highly fragmented customer base (largest customer is 2% of revenue), and relatively low dependence on individual customer agreements Macroeconomic risk factors are relatively limited due to Atea’s business model
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Transfer of personal data from the EU to the US is deemed adequate under data privacy regulation (GDPR) based on the EU-US Data Privacy Framework, adopted in 2023 Due to concerns about data privacy and future regulation, we have seen some customers reconsidering their migration of data and workloads to the public cloud • Atea offers products and services for customers seeking to: • Migrate data and application workloads to the public cloud • Migrate to a local data center managed by Atea • Invest in their own data centers • Atea advises customers to consider a “hybrid” approach - with some workloads managed in public clouds, but with the ability to transfer and manage workloads from local data centers as appropriate • Atea provides complete advisory and support services for customers seeking a “hybrid” data center model Geopolitical risk to public cloud adoption
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Complete IT infrastructure partner with specialist resources to advise, build and manage the operations of our customers’ complex and evolving IT environments Product leadership • Complete range of IT infrastructure products • Highest level of strategic partnership with IT vendors • Scale drives purchasing power and vendor support Service capabilities • Consulting and operations support across all areas of IT infrastructure • Growing complexity of IT environments drives increased need for services Local presence • 88 locations across all regions • Local sales and service teams, backed by specialist teams and logistics from Atea group Atea’s value proposition to customers in volatile times
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Fact pack April 29, 2025 Q1 2025 Presentation
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Highlights – Group Q1 Q1 Full year NOK in million 2025 2024 2024 Gross sales 13,271 11,399 53,862 Revenue 8,553 7,606 34,583 Gross profit 2,682 2,556 10,397 EBIT 281 256 1,171 EBIT margin (%) 3.3% 3.4% 3.4% Net profit 162 192 775 Earnings per share (NOK) 1.45 1.72 6.95 Diluted earnings per share (NOK) 1.44 1.71 6.87 Cash flow from operations -881 -903 2,028 Free cash flow -984 -983 1,606 31 Mar 2025 31 Mar 2024 31 Dec 2024 Net financial position 250 -117 1,382 Liquidity reserve 5,102 4,758 6,151 Working capital -1,338 -878 -2,539 Working capital in relation to last 12 months gross sales (%) -2.4% -1.7% -4.7% Adjusted equity ratio (%) 28.7% 30.9% 22.6% Number of full-time employees, end of period 7,894 8,118 7,989
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NOK in million 31 Mar 2025 31 Mar 2024 31 Dec 2024 ASSETS Property, plant and equipment 474 518 498 Right-of-use assets 1,436 1,368 1,448 Deferred tax assets 182 223 170 Goodwill 4,403 4,429 4,465 Other intangible assets 747 590 712 Other long-term receivables 195 195 168 Non-current assets 7,437 7,323 7,461 Inventories 1,104 894 974 Trade receivables 4,994 4,522 8,074 Other receivables 2,667 2,546 2,596 Cash and cash equivalents 879 830 2,004 Current assets 9,644 8,793 13,648 Total assets 17,081 16,116 21,109 EQUITY AND LIABILITIES Share capital and premium 681 680 681 Other reserves 1,883 1,923 1,957 Retained earnings 1,893 1,908 1,786 Equity 4,456 4,511 4,423 Interest-bearing long-term liabilities 588 588 588 Long-term leasing liabilities 1,167 1,144 1,151 Other long-term liabilities 191 176 198 Deferred tax liabilities 167 153 168 Non-current liabilities 2,113 2,061 2,105 Trade payables 5,950 5,148 9,746 Interest-bearing current liabilities 13 327 4 Current leasing liabilities 470 470 456 Tax payable 83 103 144 Provisions 64 54 90 Other current liabilities 3,932 3,442 4,141 Current liabilities 10,512 9,544 14,581 Total liabilities 12,625 11,604 16,686 Total equity and liabilities 17,081 16,116 21,109 Consolidated statement of financial position – Group
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FTEs, end of period 31 Mar 2025 31 Mar 2024 Norway 1,766 1,767 Sweden 2,569 2,681 Denmark 1,438 1,503 Finland 545 557 Baltics 732 760 Logistics 273 261 Atea Global Services 508 523 Atea ASA 9 9 AppXite 54 58 Atea Group 7,894 8,118 Full-time employees – Group
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Financial performance actual – Segment NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Norway 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 Sweden 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 Denmark 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 Finland 857.9 980.2 836.6 906.5 850.5 The Baltics 347.5 423.6 437.5 514.7 428.4 Group Shared Services 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 Eliminations -1,942.7 -2,321.2 -2,561.6 -3,515.6 -2,571.6 Revenue group total 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 Norway 60.1 97.4 113.6 139.0 73.1 Sweden 184.7 106.7 134.0 121.7 190.4 Denmark -11.0 13.4 19.1 51.9 0.0 Finland 22.5 38.5 21.1 34.1 23.2 The Baltics 15.5 17.4 20.7 40.6 17.5 Group Shared Services 7.1 9.5 22.3 16.7 8.9 Operating profit before group cost (EBIT) 278.8 282.9 330.9 404.0 313.1 Group cost -23.1 -40.0 -23.8 -38.2 -32.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 Financial income 10.5 9.0 1.2 8.3 27.6 Financial expenses 20.7 74.2 58.0 45.6 99.3 Net financial items -10.3 -65.2 -56.8 -37.3 -71.8 Profit before taxes (EBT) 245.4 177.7 250.2 328.6 209.1 Tax 53.9 39.2 58.2 75.4 47.1 Profit for the period 191.5 138.5 192.0 253.2 162.0
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Financial performance pro forma – Segment NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Norway 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 Sweden 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 Denmark 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 Finland 857.9 980.2 836.6 906.5 850.5 The Baltics 347.5 423.6 437.5 514.7 428.4 Group Shared Services 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 Eliminations -1,942.7 -2,321.2 -2,561.6 -3,515.6 -2,571.6 Revenue group total 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 Norway 60.1 97.4 113.6 139.0 73.1 Sweden 184.7 106.7 134.0 121.7 190.4 Denmark -11.0 13.4 19.1 51.9 0.0 Finland 22.5 38.5 21.1 34.1 23.2 The Baltics 15.5 17.4 20.7 40.6 17.5 Group Shared Services 7.1 9.5 22.3 16.7 8.9 Operating profit before group cost (EBIT) 278.8 282.9 330.9 404.0 313.1 Group cost -23.1 -40.0 -23.8 -38.2 -32.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 Financial income 10.5 9.0 1.2 8.3 27.6 Financial expenses 20.7 74.2 58.0 45.6 99.3 Net financial items -10.3 -65.2 -56.8 -37.3 -71.8 Profit before taxes (EBT) 245.4 177.7 250.2 328.6 209.1 Tax 53.9 39.2 58.2 75.4 47.1 Profit for the period 191.5 138.5 192.0 253.2 162.0
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Income statement actual – Group (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 Software 4,010.4 6,416.5 3,413.6 5,969.1 4,869.7 Product sales 8,960.5 12,043.5 8,969.5 13,653.5 10,622.4 Services sales 2,438.6 2,615.6 2,295.6 2,884.9 2,648.4 Gross sales 11,399.1 14,659.1 11,265.1 16,538.4 13,270.9 Hardware margin (%) 14.3% 13.2% 13.3% 12.3% 13.0% Software margin (%) 8.8% 6.2% 8.6% 5.8% 7.9% Product margin (%) 11.8% 9.5% 11.5% 9.5% 10.6% Services margin (%) 61.3% 57.3% 57.7% 53.7% 58.7% Gross sales margin (%) 22.4% 18.0% 20.9% 17.2% 20.2% Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 Software 351.7 398.1 294.6 346.0 383.1 Product revenue 5,301.7 6,025.1 5,850.5 8,030.4 6,135.9 Services revenue 2,303.8 2,355.0 2,132.3 2,583.9 2,417.1 Revenue 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 Hardware 708.5 745.1 737.2 946.8 745.5 Software 351.7 398.1 294.6 346.0 383.1 Product gross profit 1,060.1 1,143.2 1,031.9 1,292.8 1,128.6 Services gross profit 1,495.4 1,498.4 1,325.0 1,550.1 1,553.5 Total gross profit 2,555.5 2,641.6 2,356.8 2,842.9 2,682.1 Payroll and other operating expenses 1,918.6 2,004.6 1,661.6 2,021.8 1,994.0 Other operating costs 201.2 214.7 203.1 263.5 219.6 Depreciation of ROU, leasing 98.3 97.9 101.3 108.3 103.7 Depreciation of other assets 79.0 78.6 81.0 80.7 81.3 Amortization of acquired intangibles 2.8 2.8 2.7 2.7 2.6 Total operating expenses 2,299.8 2,398.6 2,049.8 2,477.1 2,401.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 EBIT (%) 3.4% 2.9% 3.8% 3.4% 3.3%
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Income statement pro forma – Group (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 Software 4,010.4 6,416.5 3,413.6 5,969.1 4,869.7 Product sales 8,960.5 12,043.5 8,969.5 13,653.5 10,622.4 Services sales 2,438.6 2,615.6 2,295.6 2,884.9 2,648.4 Gross sales 11,399.1 14,659.1 11,265.1 16,538.4 13,270.9 Hardware margin (%) 14.3% 13.2% 13.3% 12.3% 13.0% Software margin (%) 8.8% 6.2% 8.6% 5.8% 7.9% Product margin (%) 11.8% 9.5% 11.5% 9.5% 10.6% Services margin (%) 61.3% 57.3% 57.7% 53.7% 58.7% Gross sales margin (%) 22.4% 18.0% 20.9% 17.2% 20.2% Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 Software 351.7 398.1 294.6 346.0 383.1 Product revenue 5,301.7 6,025.1 5,850.5 8,030.4 6,135.9 Services revenue 2,303.8 2,355.0 2,132.3 2,583.9 2,417.1 Revenue 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 Hardware 708.5 745.1 737.2 946.8 745.5 Software 351.7 398.1 294.6 346.0 383.1 Product gross profit 1,060.1 1,143.2 1,031.9 1,292.8 1,128.6 Services gross profit 1,495.4 1,498.4 1,325.0 1,550.1 1,553.5 Total gross profit 2,555.5 2,641.6 2,356.8 2,842.9 2,682.1 Payroll and other operating expenses 1,918.6 2,004.6 1,661.6 2,021.8 1,994.0 Other operating costs 201.2 214.7 203.1 263.5 219.6 Depreciation of ROU, leasing 98.3 97.9 101.3 108.3 103.7 Depreciation of other assets 79.0 78.6 81.0 80.7 81.3 Amortization of acquired intangibles 2.8 2.8 2.7 2.7 2.6 Total operating expenses 2,299.8 2,398.6 2,049.8 2,477.1 2,401.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 EBIT (%) 3.4% 2.9% 3.8% 3.4% 3.3%
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Income statement actual – Norway (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 2,176.0 2,504.0 2,188.9 3,513.9 2,427.0 Services sales 616.8 682.6 591.1 697.1 689.9 Gross sales 2,792.7 3,186.6 2,780.0 4,211.0 3,116.9 Product margin (%) 11.7% 11.5% 11.5% 9.6% 11.3% Services margin (%) 69.6% 64.4% 64.4% 63.9% 66.1% Gross sales margin (%) 24.5% 22.8% 22.8% 18.6% 23.4% Product revenue 1,305.2 1,509.7 1,412.8 2,183.8 1,454.1 Services revenue 594.9 604.5 555.2 634.0 646.1 Revenue 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 Product gross profit 254.4 288.0 251.8 337.6 273.8 Services gross profit 429.2 439.8 380.8 445.3 455.7 Total gross profit 683.6 727.8 632.6 782.8 729.4 Payroll and other operating expenses 589.7 596.1 485.2 609.3 621.5 Depreciation and amortization 33.8 34.3 33.8 34.6 34.9 Total operating expenses 623.5 630.4 519.0 643.9 656.4 Operating profit (EBIT) 60.1 97.4 113.6 139.0 73.1 EBIT (%) 3.2% 4.6% 5.8% 4.9% 3.5%
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Income statement actual – Sweden (SEK million) SEK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 3,912.0 5,071.1 3,446.0 5,483.0 4,540.8 Services sales 903.6 960.8 787.3 1,054.7 957.2 Gross sales 4,815.6 6,031.9 4,233.3 6,537.7 5,498.0 Product margin (%) 11.0% 8.8% 11.4% 8.5% 9.5% Services margin (%) 58.8% 52.1% 52.6% 48.8% 55.2% Gross sales margin (%) 19.9% 15.7% 19.1% 15.0% 17.4% Product revenue 2,007.9 2,222.0 2,210.7 2,647.3 2,218.0 Services revenue 866.6 870.8 738.2 985.0 881.1 Revenue 2,874.5 3,092.8 2,948.8 3,632.3 3,099.1 Product gross profit 429.1 443.9 394.5 464.5 430.4 Services gross profit 531.1 500.9 414.4 514.3 528.2 Total gross profit 960.2 944.7 808.9 978.8 958.7 Payroll and other operating expenses 733.6 794.2 633.8 815.1 729.7 Depreciation and amortization 44.2 44.3 45.0 45.0 45.3 Total operating expenses 777.8 838.6 678.8 860.1 775.0 Operating profit (EBIT) 182.4 106.2 130.1 118.8 183.6 EBIT (%) 6.3% 3.4% 4.4% 3.3% 5.9%
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Income statement actual – Sweden (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 3,956.8 5,079.3 3,542.5 5,602.9 4,704.9 Services sales 915.2 963.1 810.0 1,078.8 993.9 Gross sales 4,872.0 6,042.4 4,352.5 6,681.7 5,698.8 Product margin (%) 11.0% 8.8% 11.5% 8.5% 9.5% Services margin (%) 58.7% 52.1% 52.7% 48.8% 55.2% Gross sales margin (%) 20.0% 15.7% 19.1% 15.0% 17.5% Product revenue 2,031.6 2,227.1 2,274.0 2,705.4 2,302.1 Services revenue 877.8 873.1 759.4 1,007.5 915.2 Revenue 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 Product gross profit 434.5 445.3 405.9 474.8 446.5 Services gross profit 537.6 502.1 426.6 526.1 548.2 Total gross profit 972.1 947.3 832.5 1,000.9 994.6 Payroll and other operating expenses 742.7 796.2 652.3 833.2 757.3 Depreciation and amortization 44.7 44.4 46.2 46.0 47.0 Total operating expenses 787.5 840.6 698.5 879.2 804.3 Operating profit (EBIT) 184.7 106.7 134.0 121.7 190.4 EBIT (%) 6.3% 3.4% 4.4% 3.3% 5.9%
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Income statement actual – Denmark (DKK million) DKK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 1,090.9 1,929.8 1,173.7 2,011.0 1,439.1 Services sales 408.6 450.7 381.8 485.0 416.0 Gross sales 1,499.4 2,380.5 1,555.5 2,496.0 1,855.1 Product margin (%) 10.2% 6.4% 8.7% 8.0% 8.4% Services margin (%) 52.7% 49.7% 53.0% 43.8% 50.7% Gross sales margin (%) 21.8% 14.6% 19.6% 15.0% 17.9% Product revenue 678.9 763.5 733.6 1,320.3 902.2 Services revenue 377.2 407.8 354.8 404.3 377.8 Revenue 1,056.1 1,171.3 1,088.4 1,724.6 1,280.0 Product gross profit 111.2 124.1 102.1 161.3 120.8 Services gross profit 215.3 224.1 202.3 212.2 211.0 Total gross profit 326.6 348.2 304.4 373.5 331.9 Payroll and other operating expenses 302.9 309.1 261.6 306.5 301.9 Depreciation and amortization 31.0 30.2 30.8 34.0 29.8 Total operating expenses 333.9 339.3 292.3 340.5 331.7 Operating profit (EBIT) -7.3 9.0 12.0 33.0 0.2 EBIT (%) -0.7% 0.8% 1.1% 1.9% 0.0%
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Income statement actual – Denmark (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 1,668.9 2,999.5 1,850.5 3,168.5 2,247.6 Services sales 625.7 698.2 602.1 764.2 649.1 Gross sales 2,294.6 3,697.7 2,452.6 3,932.7 2,896.6 Product margin (%) 10.2% 6.4% 8.7% 8.0% 8.4% Services margin (%) 52.7% 49.7% 53.0% 43.8% 50.7% Gross sales margin (%) 21.8% 14.6% 19.6% 15.0% 17.9% Product revenue 1,038.3 1,181.9 1,156.9 2,080.6 1,409.9 Services revenue 577.7 632.0 559.6 637.2 589.6 Revenue 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 Product gross profit 170.1 192.5 161.0 254.1 188.6 Services gross profit 329.9 347.1 319.1 334.5 329.4 Total gross profit 500.0 539.6 480.1 588.6 518.0 Payroll and other operating expenses 463.6 479.5 412.4 483.1 471.5 Depreciation and amortization 47.5 46.8 48.5 53.6 46.5 Total operating expenses 511.1 526.2 461.0 536.7 518.0 Operating profit (EBIT) -11.0 13.4 19.1 51.9 0.0 EBIT (%) -0.7% 0.7% 1.1% 1.9% 0.0%
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Income statement actual – Finland (EUR million) EUR in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 78.9 99.7 92.2 86.5 81.6 Services sales 13.5 14.2 13.7 15.1 14.6 Gross sales 92.5 113.8 105.9 101.6 96.2 Product margin (%) 11.8% 9.2% 8.5% 9.4% 11.4% Services margin (%) 51.7% 56.2% 48.3% 57.7% 53.0% Gross sales margin (%) 17.7% 15.1% 13.7% 16.6% 17.8% Product revenue 63.2 72.3 59.2 63.8 60.9 Services revenue 11.9 12.5 12.0 13.3 12.1 Revenue 75.1 84.8 71.1 77.1 73.1 Product gross profit 9.3 9.2 7.8 8.2 9.3 Services gross profit 7.0 8.0 6.6 8.7 7.7 Total gross profit 16.3 17.2 14.5 16.9 17.1 Payroll and other operating expenses 13.7 13.1 12.0 13.3 14.3 Depreciation and amortization 0.7 0.7 0.7 0.7 0.7 Total operating expenses 14.4 13.8 12.7 14.0 15.1 Operating profit (EBIT) 2.0 3.4 1.8 2.9 2.0 EBIT (%) 2.6% 4.0% 2.5% 3.8% 2.7%
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Income statement actual – Finland (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 902.1 1,151.0 1,083.5 1,016.3 950.2 Services sales 154.6 163.8 161.7 177.5 169.9 Gross sales 1,056.7 1,314.8 1,245.3 1,193.8 1,120.1 Product margin (%) 11.8% 9.2% 8.5% 9.4% 11.4% Services margin (%) 51.7% 56.1% 48.3% 57.7% 53.0% Gross sales margin (%) 17.7% 15.1% 13.7% 16.6% 17.8% Product revenue 721.9 835.4 695.9 749.9 709.4 Services revenue 135.9 144.9 140.7 156.6 141.1 Revenue 857.9 980.2 836.6 906.5 850.5 Product gross profit 106.8 106.4 92.3 96.0 108.7 Services gross profit 80.0 92.0 78.2 102.5 90.1 Total gross profit 186.7 198.4 170.5 198.5 198.8 Payroll and other operating expenses 156.3 151.5 140.7 155.9 166.9 Depreciation and amortization 7.9 8.3 8.7 8.5 8.7 Total operating expenses 164.2 159.8 149.4 164.4 175.6 Operating profit (EBIT) 22.5 38.5 21.1 34.1 23.2 EBIT (%) 2.6% 3.9% 2.5% 3.8% 2.7%
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Income statement actual – Baltic (EUR million) EUR in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 25.5 28.9 28.3 32.0 29.1 Services sales 13.9 13.8 13.9 17.3 15.6 Gross sales 39.3 42.7 42.1 49.3 44.7 Product margin (%) 11.2% 13.2% 13.2% 14.6% 12.4% Services margin (%) 65.8% 64.2% 62.9% 62.9% 61.7% Gross sales margin (%) 30.5% 29.7% 29.6% 31.6% 29.6% Product revenue 17.4 23.5 24.7 28.1 22.9 Services revenue 13.1 13.2 12.5 15.7 13.9 Revenue 30.4 36.7 37.2 43.8 36.8 Product gross profit 2.9 3.8 3.7 4.7 3.6 Services gross profit 9.1 8.9 8.7 10.9 9.6 Total gross profit 12.0 12.7 12.5 15.6 13.2 Payroll and other operating expenses 8.9 9.5 9.1 10.4 10.0 Depreciation and amortization 1.7 1.6 1.6 1.7 1.7 Total operating expenses 10.6 11.2 10.7 12.1 11.7 Operating profit (EBIT) 1.4 1.5 1.8 3.5 1.5 EBIT (%) 4.4% 4.1% 4.7% 7.9% 4.1%
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Income statement actual – Baltic (NOK million) NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 290.6 332.6 332.7 375.8 339.8 Services sales 158.4 159.9 163.3 203.8 181.9 Gross sales 449.0 492.5 496.1 579.6 521.7 Product margin (%) 11.2% 13.2% 13.2% 14.6% 12.4% Services margin (%) 65.8% 64.2% 62.8% 62.9% 61.7% Gross sales margin (%) 30.5% 29.8% 29.6% 31.6% 29.6% Product revenue 197.9 271.0 290.8 329.7 266.9 Services revenue 149.5 152.5 146.8 185.0 161.4 Revenue 347.5 423.6 437.5 514.7 428.4 Product gross profit 32.6 44.0 44.1 54.9 42.0 Services gross profit 104.2 102.7 102.7 128.2 112.2 Total gross profit 136.9 146.7 146.7 183.1 154.2 Payroll and other operating expenses 101.7 110.3 106.7 122.8 116.4 Depreciation and amortization 19.6 19.0 19.3 19.7 20.3 Total operating expenses 121.3 129.3 126.0 142.5 136.7 Operating profit (EBIT) 15.5 17.4 20.7 40.6 17.5 EBIT (%) 4.5% 4.1% 4.7% 7.9% 4.1%
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Income statement actual – Group Shared Services* (MNOK) * Atea Logistics, Atea Global Services, Atea Group Functions, AppXite and Securitization SPV NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Product sales 1,640.4 1,985.9 2,237.9 3,141.0 2,230.6 Services sales 296.2 307.8 339.9 350.1 322.7 Gross sales 1,936.6 2,293.6 2,577.8 3,491.1 2,553.4 Product margin (%) 2.2% 2.1% 1.8% 1.6% 1.8% Services margin (%) 77.6% 77.4% 72.4% 71.6% 77.3% Gross sales margin (%) 13.8% 12.2% 11.1% 8.6% 11.4% Product revenue 1,621.2 1,961.3 2,212.5 3,110.2 2,206.1 Services revenue 296.2 307.8 339.9 350.1 322.7 Revenue 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 Product gross profit 36.9 40.9 40.8 50.1 40.5 Services gross profit 230.0 238.2 246.1 250.7 249.4 Total gross profit 266.8 279.1 286.9 300.9 289.9 Payroll and other operating expenses 233.4 243.2 236.1 255.0 251.0 Depreciation and amortization 26.4 26.5 28.4 29.3 30.1 Total operating expenses 259.8 269.6 264.6 284.2 281.1 Operating profit (EBIT) 7.1 9.5 22.3 16.7 8.9 EBIT (%) 0.4% 0.4% 0.9% 0.5% 0.4%