Slides
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July 16, 2025 Q2 2025 Presentation
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Highlights – Q2 2025 Revenue (IFRS) of NOK 9.1 billion Up 9.1% from last year Net profit of NOK 157 million Up 13.3% from last year Gross sales of NOK 16.8 billion Up 14.4% from last year EBIT of NOK 268 million Up 10.4% from last year EBIT
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• High operating profit (EBIT) in Q2 2025, driven by strong sales growth across all lines of business Income statement – Q2 2025 ** Currency fluctuations impact sales growth on a Group level by +4.0% in Q2 2025 CURRENCY: MNOK Q2 2025 Q2 2024 Growth Hardware 6,246 5,627 11.0% Software 7,672 6,416 19.6% Services 2,849 2,616 8.9% Gross sales* 16,767 14,659 14.4% Revenue (IFRS) 9,139 8,380 9.1% Gross margin % 30.4% 31.5% -1.1% Gross profit 2,776 2,642 5.1% Operating expenses 2,508 2,399 4.5% EBIT 268 243 10.4% Net profit after tax 157 139 13.3%
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% Gross sales Q2 2025 Q2 2025 Q2 2024 Growth% Q2 2025 Q2 2024 Growth% Norway, NOK 19 % 3,233 3,187 1.4 % 108 97 11.1 % Sweden, SEK 42 % 6,597 6,032 9.4 % 125 106 17.8 % Denmark, DKK 28 % 3,026 2,381 27.1 % 11 9 19.7 % Finland, EUR 7 % 107.0 113.8 -6.0 % 2.6 3.4 -22.9 % Baltics, EUR 4 % 51.3 42.7 20.2 % 1.8 1.5 17.4 % Group Functions, NOK -73 -75 N/A -40 -31 N/A Atea Group, NOK* 100% 16,767 14,659 14.4% 268 243 10.4% Currency: Local in million Gross sales EBIT • Improved sales and double-digit EBIT growth in all countries except Finland Business unit performance – Q2 2025 ** Currency fluctuations impact sales growth on a Group level by +4.0% in Q2 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 2021 2022 2023 2024 2025 Cash flow from operations – Q2 2025 • Cash flow from operations was an outflow of NOK 111 million • Cash flow was negatively impacted by higher inventory of school PCs to be delivered in Q3
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CURRENCY: MNOK 30 Jun 2025 30 Jun 2024 Interest-bearing liabilities -1,506 -1,274 Cash and cash equivalents 1,066 1,190 Net financial position* -440 -84 EBITDA - rolling 4 Q* 1,981 1,906 Net debt / EBITDA, end of quarter (ratio) 0.2 0.0 Loan covenant: - Maximum Net Debt / EBITDA ratio 2.5 2.5 - Maximum Net Debt balance 4,952 4,764 Gap between Net Debt and Loan Covenant 4,512 4,680 Net debt of NOK 440 million Net debt / EBITDA ratio of 0.2 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
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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%* Forecast for 2H 2025 • Healthy market, but sales growth slows with more challenging comparables • Continued solid EBIT development in Norway, Sweden, Baltics • EBIT turnaround in Denmark and Finland, relative to weaker results in 2H 2024. Primary sensitivity in guidance range. Business Outlook Solid growth in profitability throughout 2025, based on improved market conditions and new agreements * Represents growth in EBIT before restructuring costs (NOK 1,211 million in 2024)
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Business outlook – key growth areas • Cybersecurity is now more critical than ever • One driver for IT security investments is the EU Network and Information Systems 2 (NIS 2) directive IT security • Atea is a key supplier for defense in all countries • Defense spending will increase significantly • NATO membership is a driving force Defense • Windows 10 will go end-of-life in October 2025 • This is driving a major PC refresh cycle, as many PCs do not meet the upgrade requirements for Windows 11 PC / Windows 10 end-of-life • To take advantage of AI opportunities, customers will need infrastructure upgrades • Software and cloud are often the starting points of the AI journey, supported by consulting AI opportunities
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EBIT Revenue (IFRS) of NOK 17.7 billion Up 10.7% from last year Gross profit of NOK 5.5 billion Up 5.0% from last year EBIT of NOK 549 million Up 10.1% from last year Summary – H1 2025 Gross sales of NOK 30.0 billion Up 15.3% from last year
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Fact pack July 16, 2025 Q2 2025 Presentation
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Q2 Q2 H1 H1 Full year NOK in million 2025 2024 2025 2024 2024 Gross sales 16,767 14,659 30,038 26,058 53,862 Revenue 9,139 8,380 17,692 15,986 34,583 Gross profit 2,776 2,642 5,458 5,197 10,397 EBIT 268 243 549 499 1,171 EBIT margin (%) 2.9% 2.9% 3.1% 3.1% 3.4% Net profit 157 139 319 330 775 Earnings per share (NOK) 1.41 1.24 2.86 2.96 6.95 Diluted earnings per share (NOK) 1.39 1.23 2.81 2.93 6.87 Cash flow from operations -111 665 -992 -238 2,028 Free cash flow -216 554 -1,200 -429 1,606 30 Jun 2025 30 Jun 2024 31 Dec 2024 Net financial position -440 -84 1,382 Liquidity reserve 4,512 4,680 6,151 Working capital -1,282 -1,596 -2,539 Working capital in relation to last 12 months gross sales (%) -2.2% -3.1% -4.7% Adjusted equity ratio (%) 21.0% 23.0% 22.6% Number of full-time employees, end of period 7,967 8,098 7,989 Highlights – Group
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NOK in million 30 Jun 2025 30 Jun 2024 31 Dec 2024 ASSETS Property, plant and equipment 476 503 498 Right-of-use assets 1,518 1,407 1,448 Deferred tax assets 199 239 170 Goodwill 4,499 4,360 4,465 Other intangible assets 791 617 712 Other long-term receivables 191 180 168 Non-current assets 7,674 7,305 7,461 Inventories 1,266 998 974 Trade receivables 7,566 5,968 8,074 Other receivables 3,126 2,579 2,596 Cash and cash equivalents 1,066 1,190 2,004 Current assets 13,025 10,735 13,648 Total assets 20,699 18,040 21,109 EQUITY AND LIABILITIES Share capital and premium 681 681 681 Other reserves 2,021 1,832 1,957 Retained earnings 1,301 1,279 1,786 Equity 4,003 3,792 4,423 Interest-bearing long-term liabilities 588 588 588 Long-term leasing liabilities 1,233 1,183 1,151 Other long-term liabilities 192 165 198 Deferred tax liabilities 170 150 168 Non-current liabilities 2,183 2,086 2,105 Trade payables 8,314 7,118 9,746 Interest-bearing current liabilities 891 655 4 Current leasing liabilities 491 458 456 Tax payable 144 159 144 Provisions 58 38 90 Other current liabilities 4,617 3,734 4,141 Current liabilities 14,514 12,162 14,581 Total liabilities 16,697 14,248 16,686 Total equity and liabilities 20,699 18,040 21,109 Consolidated statement of financial position – Group
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FTEs, end of period 30 Jun 2025 30 Jun 2024 Norway 1,765 1,754 Sweden 2,596 2,690 Denmark 1,426 1,482 Finland 562 556 Baltics 750 748 Logistics 295 283 Atea Global Services 510 520 Atea ASA 9 10 AppXite 54 56 Atea Group 7,967 8,098 Full-time employees – Group
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Norway 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 2,133.3 Sweden 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 3,535.3 Denmark 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 2,048.4 Finland 857.9 980.2 836.6 906.5 850.5 959.2 The Baltics 347.5 423.6 437.5 514.7 428.4 507.5 Group Shared Services 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 2,907.9 Eliminations -1,942.7 -2,321.2 -2,561.6 -3,515.6 -2,571.6 -2,953.0 Revenue group total 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 Norway 60.1 97.4 113.6 139.0 73.1 108.3 Sweden 184.7 106.7 134.0 121.7 190.4 132.5 Denmark -11.0 13.4 19.1 51.9 0.0 16.5 Finland 22.5 38.5 21.1 34.1 23.2 30.1 The Baltics 15.5 17.4 20.7 40.6 17.5 20.6 Group Shared Services 7.1 9.5 22.3 16.7 8.9 3.6 Operating profit before group cost (EBIT) 278.8 282.9 330.9 404.0 313.1 311.5 Group cost -23.1 -40.0 -23.8 -38.2 -32.2 -43.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 Financial income 10.5 9.0 1.2 8.3 27.6 19.2 Financial expenses 20.7 74.2 58.0 45.6 99.3 84.9 Net financial items -10.3 -65.2 -56.8 -37.3 -71.8 -65.7 Profit before taxes (EBT) 245.4 177.7 250.2 328.6 209.1 202.6 Tax 53.9 39.2 58.2 75.4 47.1 45.7 Profit for the period 191.5 138.5 192.0 253.2 162.0 156.9 Financial performance actual – Segment
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Norway 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 2,133.3 Sweden 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 3,535.3 Denmark 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 2,048.4 Finland 857.9 980.2 836.6 906.5 850.5 959.2 The Baltics 347.5 423.6 437.5 514.7 428.4 507.5 Group Shared Services 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 2,907.9 Eliminations -1,942.7 -2,321.2 -2,561.6 -3,515.6 -2,571.6 -2,953.0 Revenue group total 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 Norway 60.1 97.4 113.6 139.0 73.1 108.3 Sweden 184.7 106.7 134.0 121.7 190.4 132.5 Denmark -11.0 13.4 19.1 51.9 0.0 16.5 Finland 22.5 38.5 21.1 34.1 23.2 30.1 The Baltics 15.5 17.4 20.7 40.6 17.5 20.6 Group Shared Services 7.1 9.5 22.3 16.7 8.9 3.6 Operating profit before group cost (EBIT) 278.8 282.9 330.9 404.0 313.1 311.5 Group cost -23.1 -40.0 -23.8 -38.2 -32.2 -43.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 Financial income 10.5 9.0 1.2 8.3 27.6 19.2 Financial expenses 20.7 74.2 58.0 45.6 99.3 84.9 Net financial items -10.3 -65.2 -56.8 -37.3 -71.8 -65.7 Profit before taxes (EBT) 245.4 177.7 250.2 328.6 209.1 202.6 Tax 53.9 39.2 58.2 75.4 47.1 45.7 Profit for the period 191.5 138.5 192.0 253.2 162.0 156.9 Financial performance pro forma – Segment
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 Software 4,010.4 6,416.5 3,413.6 5,969.1 4,869.7 7,672.5 Product sales 8,960.5 12,043.5 8,969.5 13,653.5 10,622.4 13,918.0 Services sales 2,438.6 2,615.6 2,295.6 2,884.9 2,648.4 2,849.4 Gross sales 11,399.1 14,659.1 11,265.1 16,538.4 13,270.9 16,767.4 Hardware margin (%) 14.3% 13.2% 13.3% 12.3% 13.0% 13.0% Software margin (%) 8.8% 6.2% 8.6% 5.8% 7.9% 5.0% Product margin (%) 11.8% 9.5% 11.5% 9.5% 10.6% 8.6% Services margin (%) 61.3% 57.3% 57.7% 53.7% 58.7% 55.5% Gross sales margin (%) 22.4% 18.0% 20.9% 17.2% 20.2% 16.6% Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 Software 351.7 398.1 294.6 346.0 383.1 381.2 Product revenue 5,301.7 6,025.1 5,850.5 8,030.4 6,135.9 6,626.7 Services revenue 2,303.8 2,355.0 2,132.3 2,583.9 2,417.1 2,511.8 Revenue 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 Hardware 708.5 745.1 737.2 946.8 745.5 813.2 Software 351.7 398.1 294.6 346.0 383.1 381.2 Product gross profit 1,060.1 1,143.2 1,031.9 1,292.8 1,128.6 1,194.4 Services gross profit 1,495.4 1,498.4 1,325.0 1,550.1 1,553.5 1,581.5 Total gross profit 2,555.5 2,641.6 2,356.8 2,842.9 2,682.1 2,775.9 Payroll and other operating expenses 1,918.6 2,004.6 1,661.6 2,021.8 1,994.0 2,071.4 Other operating costs 201.2 214.7 203.1 263.5 219.6 242.1 Depreciation of ROU, leasing 98.3 97.9 101.3 108.3 103.7 108.1 Depreciation of other assets 79.0 78.6 81.0 80.7 81.3 83.5 Amortization of acquired intangibles 2.8 2.8 2.7 2.7 2.6 2.5 Total operating expenses 2,299.8 2,398.6 2,049.8 2,477.1 2,401.2 2,507.6 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 EBIT (%) 3.4% 2.9% 3.8% 3.4% 3.3% 2.9% Income statement actual – Group (NOK million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 Software 4,010.4 6,416.5 3,413.6 5,969.1 4,869.7 7,672.5 Product sales 8,960.5 12,043.5 8,969.5 13,653.5 10,622.4 13,918.0 Services sales 2,438.6 2,615.6 2,295.6 2,884.9 2,648.4 2,849.4 Gross sales 11,399.1 14,659.1 11,265.1 16,538.4 13,270.9 16,767.4 Hardware margin (%) 14.3% 13.2% 13.3% 12.3% 13.0% 13.0% Software margin (%) 8.8% 6.2% 8.6% 5.8% 7.9% 5.0% Product margin (%) 11.8% 9.5% 11.5% 9.5% 10.6% 8.6% Services margin (%) 61.3% 57.3% 57.7% 53.7% 58.7% 55.5% Gross sales margin (%) 22.4% 18.0% 20.9% 17.2% 20.2% 16.6% Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 Software 351.7 398.1 294.6 346.0 383.1 381.2 Product revenue 5,301.7 6,025.1 5,850.5 8,030.4 6,135.9 6,626.7 Services revenue 2,303.8 2,355.0 2,132.3 2,583.9 2,417.1 2,511.8 Revenue 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 Hardware 708.5 745.1 737.2 946.8 745.5 813.2 Software 351.7 398.1 294.6 346.0 383.1 381.2 Product gross profit 1,060.1 1,143.2 1,031.9 1,292.8 1,128.6 1,194.4 Services gross profit 1,495.4 1,498.4 1,325.0 1,550.1 1,553.5 1,581.5 Total gross profit 2,555.5 2,641.6 2,356.8 2,842.9 2,682.1 2,775.9 Payroll and other operating expenses 1,918.6 2,004.6 1,661.6 2,021.8 1,994.0 2,071.4 Other operating costs 201.2 214.7 203.1 263.5 219.6 242.1 Depreciation of ROU, leasing 98.3 97.9 101.3 108.3 103.7 108.1 Depreciation of other assets 79.0 78.6 81.0 80.7 81.3 83.5 Amortization of acquired intangibles 2.8 2.8 2.7 2.7 2.6 2.5 Total operating expenses 2,299.8 2,398.6 2,049.8 2,477.1 2,401.2 2,507.6 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 EBIT (%) 3.4% 2.9% 3.8% 3.4% 3.3% 2.9% Income statement pro forma – Group (NOK million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 2,176.0 2,504.0 2,188.9 3,513.9 2,427.0 2,538.2 Services sales 616.8 682.6 591.1 697.1 689.9 694.4 Gross sales 2,792.7 3,186.6 2,780.0 4,211.0 3,116.9 3,232.7 Product margin (%) 11.7% 11.5% 11.5% 9.6% 11.3% 11.4% Services margin (%) 69.6% 64.4% 64.4% 63.9% 66.1% 64.7% Gross sales margin (%) 24.5% 22.8% 22.8% 18.6% 23.4% 22.8% Product revenue 1,305.2 1,509.7 1,412.8 2,183.8 1,454.1 1,502.9 Services revenue 594.9 604.5 555.2 634.0 646.1 630.4 Revenue 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 2,133.3 Product gross profit 254.4 288.0 251.8 337.6 273.8 289.1 Services gross profit 429.2 439.8 380.8 445.3 455.7 449.3 Total gross profit 683.6 727.8 632.6 782.8 729.4 738.5 Payroll and other operating expenses 589.7 596.1 485.2 609.3 621.5 595.9 Depreciation and amortization 33.8 34.3 33.8 34.6 34.9 34.3 Total operating expenses 623.5 630.4 519.0 643.9 656.4 630.2 Operating profit (EBIT) 60.1 97.4 113.6 139.0 73.1 108.3 EBIT (%) 3.2% 4.6% 5.8% 4.9% 3.5% 5.1% Income statement actual – Norway (NOK million)
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SEK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 3,912.0 5,071.1 3,446.0 5,483.0 4,540.8 5,580.4 Services sales 903.6 960.8 787.3 1,054.7 957.2 1,016.1 Gross sales 4,815.6 6,031.9 4,233.3 6,537.7 5,498.0 6,596.6 Product margin (%) 11.0% 8.8% 11.4% 8.5% 9.5% 8.5% Services margin (%) 58.8% 52.1% 52.6% 48.8% 55.2% 51.8% Gross sales margin (%) 19.9% 15.7% 19.1% 15.0% 17.4% 15.2% Product revenue 2,007.9 2,222.0 2,210.7 2,647.3 2,218.0 2,373.1 Services revenue 866.6 870.8 738.2 985.0 881.1 944.7 Revenue 2,874.5 3,092.8 2,948.8 3,632.3 3,099.1 3,317.8 Product gross profit 429.1 443.9 394.5 464.5 430.4 476.4 Services gross profit 531.1 500.9 414.4 514.3 528.2 526.2 Total gross profit 960.2 944.7 808.9 978.8 958.7 1,002.5 Payroll and other operating expenses 733.6 794.2 633.8 815.1 729.7 831.3 Depreciation and amortization 44.2 44.3 45.0 45.0 45.3 46.2 Total operating expenses 777.8 838.6 678.8 860.1 775.0 877.5 Operating profit (EBIT) 182.4 106.2 130.1 118.8 183.6 125.0 EBIT (%) 6.3% 3.4% 4.4% 3.3% 5.9% 3.8% Income statement actual – Sweden (SEK million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 3,956.8 5,079.3 3,542.5 5,602.9 4,704.9 5,941.3 Services sales 915.2 963.1 810.0 1,078.8 993.9 1,083.0 Gross sales 4,872.0 6,042.4 4,352.5 6,681.7 5,698.8 7,024.3 Product margin (%) 11.0% 8.8% 11.5% 8.5% 9.5% 8.5% Services margin (%) 58.7% 52.1% 52.7% 48.8% 55.2% 51.8% Gross sales margin (%) 20.0% 15.7% 19.1% 15.0% 17.5% 15.2% Product revenue 2,031.6 2,227.1 2,274.0 2,705.4 2,302.1 2,528.4 Services revenue 877.8 873.1 759.4 1,007.5 915.2 1,006.9 Revenue 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 3,535.3 Product gross profit 434.5 445.3 405.9 474.8 446.5 507.2 Services gross profit 537.6 502.1 426.6 526.1 548.2 560.7 Total gross profit 972.1 947.3 832.5 1,000.9 994.6 1,067.9 Payroll and other operating expenses 742.7 796.2 652.3 833.2 757.3 886.2 Depreciation and amortization 44.7 44.4 46.2 46.0 47.0 49.2 Total operating expenses 787.5 840.6 698.5 879.2 804.3 935.4 Operating profit (EBIT) 184.7 106.7 134.0 121.7 190.4 132.5 EBIT (%) 6.3% 3.4% 4.4% 3.3% 5.9% 3.7% Income statement actual – Sweden (NOK million)
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DKK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 1,090.9 1,929.8 1,173.7 2,011.0 1,439.1 2,521.3 Services sales 408.6 450.7 381.8 485.0 416.0 505.0 Gross sales 1,499.4 2,380.5 1,555.5 2,496.0 1,855.1 3,026.3 Product margin (%) 10.2% 6.4% 8.7% 8.0% 8.4% 4.2% Services margin (%) 52.7% 49.7% 53.0% 43.8% 50.7% 44.8% Gross sales margin (%) 21.8% 14.6% 19.6% 15.0% 17.9% 11.0% Product revenue 678.9 763.5 733.6 1,320.3 902.2 908.4 Services revenue 377.2 407.8 354.8 404.3 377.8 400.9 Revenue 1,056.1 1,171.3 1,088.4 1,724.6 1,280.0 1,309.3 Product gross profit 111.2 124.1 102.1 161.3 120.8 105.7 Services gross profit 215.3 224.1 202.3 212.2 211.0 226.5 Total gross profit 326.6 348.2 304.4 373.5 331.9 332.2 Payroll and other operating expenses 302.9 309.1 261.6 306.5 301.9 290.9 Depreciation and amortization 31.0 30.2 30.8 34.0 29.8 30.5 Total operating expenses 333.9 339.3 292.3 340.5 331.7 321.5 Operating profit (EBIT) -7.3 9.0 12.0 33.0 0.2 10.7 EBIT (%) -0.7% 0.8% 1.1% 1.9% 0.0% 0.8% Income statement actual – Denmark (DKK million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 1,668.9 2,999.5 1,850.5 3,168.5 2,247.6 3,949.1 Services sales 625.7 698.2 602.1 764.2 649.1 789.0 Gross sales 2,294.6 3,697.7 2,452.6 3,932.7 2,896.6 4,738.0 Product margin (%) 10.2% 6.4% 8.7% 8.0% 8.4% 4.2% Services margin (%) 52.7% 49.7% 53.0% 43.8% 50.7% 44.9% Gross sales margin (%) 21.8% 14.6% 19.6% 15.0% 17.9% 11.0% Product revenue 1,038.3 1,181.9 1,156.9 2,080.6 1,409.9 1,421.4 Services revenue 577.7 632.0 559.6 637.2 589.6 627.0 Revenue 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 2,048.4 Product gross profit 170.1 192.5 161.0 254.1 188.6 165.5 Services gross profit 329.9 347.1 319.1 334.5 329.4 353.9 Total gross profit 500.0 539.6 480.1 588.6 518.0 519.4 Payroll and other operating expenses 463.6 479.5 412.4 483.1 471.5 455.2 Depreciation and amortization 47.5 46.8 48.5 53.6 46.5 47.8 Total operating expenses 511.1 526.2 461.0 536.7 518.0 503.0 Operating profit (EBIT) -11.0 13.4 19.1 51.9 0.0 16.5 EBIT (%) -0.7% 0.7% 1.1% 1.9% 0.0% 0.8% Income statement actual – Denmark (NOK million)
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EUR in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 78.9 99.7 92.2 86.5 81.6 93.4 Services sales 13.5 14.2 13.7 15.1 14.6 13.6 Gross sales 92.5 113.8 105.9 101.6 96.2 107.0 Product margin (%) 11.8% 9.2% 8.5% 9.4% 11.4% 10.7% Services margin (%) 51.7% 56.2% 48.3% 57.7% 53.0% 51.7% Gross sales margin (%) 17.7% 15.1% 13.7% 16.6% 17.8% 15.9% Product revenue 63.2 72.3 59.2 63.8 60.9 70.5 Services revenue 11.9 12.5 12.0 13.3 12.1 11.7 Revenue 75.1 84.8 71.1 77.1 73.1 82.2 Product gross profit 9.3 9.2 7.8 8.2 9.3 10.0 Services gross profit 7.0 8.0 6.6 8.7 7.7 7.0 Total gross profit 16.3 17.2 14.5 16.9 17.1 17.0 Payroll and other operating expenses 13.7 13.1 12.0 13.3 14.3 13.6 Depreciation and amortization 0.7 0.7 0.7 0.7 0.7 0.9 Total operating expenses 14.4 13.8 12.7 14.0 15.1 14.4 Operating profit (EBIT) 2.0 3.4 1.8 2.9 2.0 2.6 EBIT (%) 2.6% 4.0% 2.5% 3.8% 2.7% 3.1% Income statement actual – Finland (EUR million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 902.1 1,151.0 1,083.5 1,016.3 950.2 1,088.5 Services sales 154.6 163.8 161.7 177.5 169.9 158.7 Gross sales 1,056.7 1,314.8 1,245.3 1,193.8 1,120.1 1,247.2 Product margin (%) 11.8% 9.2% 8.5% 9.4% 11.4% 10.7% Services margin (%) 51.7% 56.1% 48.3% 57.7% 53.0% 51.7% Gross sales margin (%) 17.7% 15.1% 13.7% 16.6% 17.8% 15.9% Product revenue 721.9 835.4 695.9 749.9 709.4 822.2 Services revenue 135.9 144.9 140.7 156.6 141.1 137.0 Revenue 857.9 980.2 836.6 906.5 850.5 959.2 Product gross profit 106.8 106.4 92.3 96.0 108.7 116.5 Services gross profit 80.0 92.0 78.2 102.5 90.1 82.1 Total gross profit 186.7 198.4 170.5 198.5 198.8 198.6 Payroll and other operating expenses 156.3 151.5 140.7 155.9 166.9 158.5 Depreciation and amortization 7.9 8.3 8.7 8.5 8.7 10.0 Total operating expenses 164.2 159.8 149.4 164.4 175.6 168.5 Operating profit (EBIT) 22.5 38.5 21.1 34.1 23.2 30.1 EBIT (%) 2.6% 3.9% 2.5% 3.8% 2.7% 3.1% Income statement actual – Finland (NOK million)
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EUR in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 25.5 28.9 28.3 32.0 29.1 36.2 Services sales 13.9 13.8 13.9 17.3 15.6 15.1 Gross sales 39.3 42.7 42.1 49.3 44.7 51.3 Product margin (%) 11.2% 13.2% 13.2% 14.6% 12.4% 9.9% Services margin (%) 65.8% 64.2% 62.9% 62.9% 61.7% 68.3% Gross sales margin (%) 30.5% 29.7% 29.6% 31.6% 29.6% 27.1% Product revenue 17.4 23.5 24.7 28.1 22.9 29.7 Services revenue 13.1 13.2 12.5 15.7 13.9 13.9 Revenue 30.4 36.7 37.2 43.8 36.8 43.6 Product gross profit 2.9 3.8 3.7 4.7 3.6 3.6 Services gross profit 9.1 8.9 8.7 10.9 9.6 10.3 Total gross profit 12.0 12.7 12.5 15.6 13.2 13.9 Payroll and other operating expenses 8.9 9.5 9.1 10.4 10.0 10.3 Depreciation and amortization 1.7 1.6 1.6 1.7 1.7 1.8 Total operating expenses 10.6 11.2 10.7 12.1 11.7 12.1 Operating profit (EBIT) 1.4 1.5 1.8 3.5 1.5 1.8 EBIT (%) 4.4% 4.1% 4.7% 7.9% 4.1% 4.1% Income statement actual – Baltic (EUR million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 290.6 332.6 332.7 375.8 339.8 421.3 Services sales 158.4 159.9 163.3 203.8 181.9 176.4 Gross sales 449.0 492.5 496.1 579.6 521.7 597.7 Product margin (%) 11.2% 13.2% 13.2% 14.6% 12.4% 9.9% Services margin (%) 65.8% 64.2% 62.8% 62.9% 61.7% 68.3% Gross sales margin (%) 30.5% 29.8% 29.6% 31.6% 29.6% 27.1% Product revenue 197.9 271.0 290.8 329.7 266.9 345.6 Services revenue 149.5 152.5 146.8 185.0 161.4 162.0 Revenue 347.5 423.6 437.5 514.7 428.4 507.5 Product gross profit 32.6 44.0 44.1 54.9 42.0 41.6 Services gross profit 104.2 102.7 102.7 128.2 112.2 120.5 Total gross profit 136.9 146.7 146.7 183.1 154.2 162.1 Payroll and other operating expenses 101.7 110.3 106.7 122.8 116.4 120.7 Depreciation and amortization 19.6 19.0 19.3 19.7 20.3 20.9 Total operating expenses 121.3 129.3 126.0 142.5 136.7 141.5 Operating profit (EBIT) 15.5 17.4 20.7 40.6 17.5 20.6 EBIT (%) 4.5% 4.1% 4.7% 7.9% 4.1% 4.1% Income statement actual – Baltic (NOK million)
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Product sales 1,640.4 1,985.9 2,237.9 3,141.0 2,230.6 2,595.5 Services sales 296.2 307.8 339.9 350.1 322.7 339.6 Gross sales 1,936.6 2,293.6 2,577.8 3,491.1 2,553.4 2,935.0 Product margin (%) 2.2% 2.1% 1.8% 1.6% 1.8% 2.0% Services margin (%) 77.6% 77.4% 72.4% 71.6% 77.3% 74.0% Gross sales margin (%) 13.8% 12.2% 11.1% 8.6% 11.4% 10.3% Product revenue 1,621.2 1,961.3 2,212.5 3,110.2 2,206.1 2,568.3 Services revenue 296.2 307.8 339.9 350.1 322.7 339.6 Revenue 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 2,907.9 Product gross profit 36.9 40.9 40.8 50.1 40.5 52.1 Services gross profit 230.0 238.2 246.1 250.7 249.4 251.4 Total gross profit 266.8 279.1 286.9 300.9 289.9 303.5 Payroll and other operating expenses 233.4 243.2 236.1 255.0 251.0 267.9 Depreciation and amortization 26.4 26.5 28.4 29.3 30.1 31.9 Total operating expenses 259.8 269.6 264.6 284.2 281.1 299.8 Operating profit (EBIT) 7.1 9.5 22.3 16.7 8.9 3.6 EBIT (%) 0.4% 0.4% 0.9% 0.5% 0.4% 0.1% Income statement actual – Group Shared Services* (MNOK) * Atea Logistics, Atea Global Services, Atea Group Functions, AppXite and Securitization SPV