Slides
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October 23, 2025 Q3 2025 Presentation
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Highlights – Q3 2025 Revenue (IFRS) of NOK 8.4 billion Up 5.6% from last year Net profit of NOK 226 million Up 17.7% from last year Gross sales of NOK 12.3 billion Up 9.2% from last year EBIT of NOK 348 million Up 13.3% from last year EBIT
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CURRENCY: MNOK Q3 2025 Q3 2024 Growth Hardware 5,873 5,556 5.7% Software/Cloud 3,996 3,414 17.1% Services 2,432 2,296 6.0% Gross sales* 12,302 11,265 9.2% Revenue (IFRS) 8,433 7,983 5.6% Gross margin % 29.8% 29.5% 0.3% Gross profit 2,514 2,357 6.7% Operating expenses 2,166 2,050 5.7% EBIT 348 307 13.3% Net profit after tax 226 192 17.7% • Strong sales and profit growth in Q3 2025, with high demand across all lines of business Income statement – Q3 2025 ** Currency fluctuations impact sales growth on a Group level by +2.1% in Q3 2025
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% Gross sales Q3 2025 Q3 2025 Q3 2024 Growth% Q3 2025 Q3 2024 Growth% Norway, NOK 25 % 3,093 2,780 11.2 % 123 114 8.1 % Sweden, SEK 39 % 4,561 4,233 7.7 % 154 130 18.3 % Denmark, DKK 23 % 1,768 1,556 13.7 % 15 12 25.8 % Finland, EUR 9 % 95.8 105.9 -9.5 % 1.7 1.8 -6.7 % Baltics, EUR 4 % 46.2 42.1 9.6 % 2.2 1.8 27.8 % Group Functions, NOK -100 -61 N/A -8 -2 N/A Atea Group, NOK* 100% 12,302 11,265 9.2% 348 307 13.3% Currency: Local in million Gross sales EBIT • Strong sales and profit performance across nearly all countries Business unit performance – Q3 2025 ** Currency fluctuations impact sales growth on a Group level by +2.1% in Q3 2025
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CURRENCY: MNOK Q3 2025 Q3 2024 Cash earnings 468 392 Changes in working capital (excluding sale of receivables) Cash flow from operations, before sale of receivables 359 153 Change in sale of receivables -139 -41 Cash flow from operations 220 112 -108 -239 Cash flow from operations was an inflow of NOK 220 million in Q3 2025 Cash flow from operations
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CURRENCY: MNOK 30 Sep 2025 30 Sep 2024 Interest-bearing liabilities -1,345 -1,143 Cash and cash equivalents 907 1,034 Net financial position* -438 -108 EBITDA - rolling 4 Q* 2,033 1,929 Net debt / EBITDA, end of quarter (ratio) 0.2 0.1 Loan covenant: - Maximum Net Debt / EBITDA ratio 2.5 2.5 - Maximum Net Debt balance 5,083 4,823 Gap between Net Debt and Loan Covenant 4,645 4,715 Net debt of NOK 438 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 guidance • 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%* October update • Atea expects to deliver gross sales at the top end of the 2025 guidance • Atea expects to achieve EBIT in the middle of the 2025 guidance interval Business Outlook Solid growth in sales and EBIT throughout 2025, driven by new frame agreements, market consolidation, and growing demand for information technology * Represents growth in EBIT before restructuring costs (NOK 1,211 million in 2024)
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• Atea Denmark has struggled with low profitability for many years - and is significantly less profitable than Atea Norway and Atea Sweden • Atea Denmark has high sales volumes, but with low value-add to customers. For this reason, the margins generated from each sale in Denmark lag Norway and Sweden • Growth in services sales has stagnated and this further pressures the margin Background – Denmark
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0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 2020 2021 2022 2023 2024 LTM 9/25 Norway LTM Sweden LTM • Hardware margins in Atea Denmark have fallen since 2020, and are well below Norway and Sweden • Business mix has shifted to high volume / low value-added customer relationships Atea hardware margin – history 10.9% 9.1% 12.8% 12.6%
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0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2023 Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 kDKK Hardware Non - SKI Revenue Gross profit GM incl. PI % 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 0 100 200 300 400 500 600 700 800 900 1,000 2023 Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 kDKK Hardware SKI Revenue Gross Profit GM incl. PI % • Atea Denmark has become over-reliant on SKI agreements which generate high volumes but low margins • We need to expand outside of SKI, where margins are higher and there are greater cross-sell opportunities • We need to aggressively cross-sell to capture value (i.e., margin) on SKI agreements Hardware margin – SKI vs. non-SKI
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0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 2020 2021 2022 2023 2024 LTM 9/25 Norway LTM Sweden LTM • Software/cloud margins have fallen as new sales are concentrated in enterprise software licensing with limited migration to cloud or upsell of value-added services • As a result, Atea Denmark has much lower margin than Norway or Sweden in software/cloud Atea software/cloud margin – history 6.0% 4.7% 7.6% 6.3%
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0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 0 100 200 300 400 500 600 700 800 900 1,000 2023 Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 kDKK Other SW Revenue Gross Profit Gross Margin 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 0 20 40 60 80 100 120 140 160 2023 Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 kDKK Microsoft CSP Revenue Gross Profit Gross Margin 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2023 Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 kDKK Microsoft EA Revenue Gross Profit Gross Margin 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 2023 Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 kDKK Total Software Revenue Gross Profit Gross Margin Denmark – Software/cloud development
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40.0% 45.0% 50.0% 55.0% 60.0% 65.0% 70.0% 75.0% 80.0% Denmark Norway Sweden Billing rate for System Engineers 0 100 200 300 400 500 600 700 800 Denmark Norway Sweden # System Engineers • Atea’s business model is to add value to our product delivery through services. This differentiates Atea from competitors and enables us to charge a price premium • Atea Denmark does not sell its services at a rate comparable with Norway and Sweden Consulting - benchmarks * Data as of June 2025
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0 50 100 150 200 250 300 350 400 450 500 Norway Sweden Denmark kDKK AMS revenue, Q1-Q3 2023 2024 2025 • Atea Denmark is not capturing full value by selling its managed services • Atea Denmark has a huge potential within managed services as we see in the other countries Managed services - benchmarks CAGR +5.9% CAGR +20.2% CAGR -1.0%
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Atea Hardware ServicesAtea Hardware Services Atea Software & CloudAtea Software & Cloud Atea ConsultingAtea Consulting Atea Managed ServicesAtea Managed Services Atea ConnectAtea Connect CustomerCustomer Account Management Account Management Solution Sales Solution Sales Sales Backoffice Sales Backoffice Partner Sales (AM) Partner Sales (AM) Atea Group and CountriesAtea Group and Countries Atea Go-to-market model
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Sensitivity: Internal Act as
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Consulting Hardware margin Software margin Culture AMS
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Gross profit of NOK 8.0 billion Up 5.5% from last year EBIT EBIT of NOK 897 million Up 11.3% from last year Revenue (IFRS) of NOK 26.1 billion Up 9.0% from last year Summary – YTD 2025 Gross sales of NOK 42.3 billion Up 13.4% from last year
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Fact pack October 23, 2025 Q3 2025 Presentation
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Q3 Q3 YTD YTD Full year NOK in million 2025 2024 2025 2024 2024 Gross sales 12,302 11,265 42,340 37,323 53,862 Revenue 8,433 7,983 26,124 23,968 34,583 Gross profit 2,514 2,357 7,972 7,554 10,397 EBIT 348 307 897 806 1,171 EBIT margin (%) 4.1% 3.8% 3.4% 3.4% 3.4% Net profit 226 192 545 522 775 Earnings per share (NOK) 2.03 1.72 4.89 4.68 6.95 Diluted earnings per share (NOK) 2.00 1.71 4.82 4.64 6.87 Cash flow from operations 220 112 -772 -126 2,028 Free cash flow 136 25 -1,065 -404 1,606 30 Sep 2025 30 Sep 2024 31 Dec 2024 Net financial position -438 -108 1,382 Liquidity reserve 4,645 4,715 6,151 Working capital -707 -939 -2,569 Working capital in relation to last 12 months gross sales (%) -1.2% -1.8% -4.8% Adjusted equity ratio (%) 26.8% 28.2% 22.4% Number of full-time employees, end of period 8,039 8,006 7,989 Highlights – Group
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NOK in million 30 Sep 2025 Restated* 30 Sep 2024 Restated* 31 Dec 2024 ASSETS Property, plant and equipment 531 501 498 Right-of-use assets 1,447 1,419 1,448 Deferred tax assets 212 198 170 Goodwill 4,475 4,469 4,465 Other intangible assets 729 661 712 Other long-term receivables 186 183 168 Non-current assets 7,580 7,430 7,461 Inventories 1,037 946 974 Trade receivables 4,549 4,308 8,074 Other receivables 2,934 2,443 2,594 Cash and cash equivalents 907 1,034 2,004 Current assets 9,427 8,731 13,647 Total assets 17,007 16,161 21,108 EQUITY AND LIABILITIES Share capital and premium 681 681 681 Other reserves 1,988 1,975 1,957 Retained earnings 1,483 1,469 1,757 Equity 4,152 4,125 4,394 Interest-bearing long-term liabilities 588 588 588 Long-term leasing liabilities 1,175 1,186 1,151 Other long-term liabilities 195 187 198 Deferred tax liabilities 170 156 168 Non-current liabilities 2,127 2,117 2,105 Trade payables 5,249 4,905 9,746 Interest-bearing current liabilities 730 520 4 Current leasing liabilities 475 447 456 Tax payable 221 160 144 Provisions 53 39 90 Dividend payable 390 391 - Other current liabilities 3,608 3,458 4,169 Current liabilities 10,727 9,920 14,609 Total liabilities 12,854 12,037 16,714 Total equity and liabilities 17,007 16,161 21,108 Consolidated statement of financial position – Group
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FTEs, end of period 30 Sep 2025 30 Sep 2024 Norway 1,787 1,774 Sweden 2,607 2,650 Denmark 1,428 1,437 Finland 569 548 Baltics 775 743 Logistics 285 267 Atea Global Services 519 523 Atea ASA 9 10 AppXite 60 54 Atea Group 8,039 8,006 Full-time employees – Group
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Norway 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 2,133.3 2,215.7 Sweden 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 3,535.3 3,267.7 Denmark 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 2,048.4 1,796.6 Finland 857.9 980.2 836.6 906.5 850.5 959.2 759.4 The Baltics 347.5 423.6 437.5 514.7 428.4 507.5 445.4 Group Shared Services 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 2,907.9 2,964.1 Eliminations -1,942.7 -2,321.2 -2,561.6 -3,515.6 -2,571.6 -2,953.0 -3,016.3 Revenue group total 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 8,432.6 Norway 60.1 97.4 113.6 139.0 73.1 108.3 122.8 Sweden 184.7 106.7 134.0 121.7 190.4 132.5 163.3 Denmark -11.0 13.4 19.1 51.9 0.0 16.5 23.5 Finland 22.5 38.5 21.1 34.1 23.2 30.1 19.6 The Baltics 15.5 17.4 20.7 40.6 17.5 20.6 26.4 Group Shared Services 7.1 9.5 22.3 16.7 8.9 3.6 26.7 Operating profit before group cost (EBIT) 278.8 282.9 330.9 404.0 313.1 311.5 382.3 Group cost -23.1 -40.0 -23.8 -38.2 -32.2 -43.2 -34.5 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 347.8 Financial income 10.5 9.0 1.2 8.3 27.6 19.2 19.5 Financial expenses 20.7 74.2 58.0 45.6 99.3 84.9 75.5 Net financial items -10.3 -65.2 -56.8 -37.3 -71.8 -65.7 -56.0 Profit before taxes (EBT) 245.4 177.7 250.2 328.6 209.1 202.6 291.7 Tax 53.9 39.2 58.2 75.4 47.1 45.7 65.8 Profit for the period 191.5 138.5 192.0 253.2 162.0 156.9 225.9 Financial performance actual – Segment
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Norway 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 2,133.3 2,215.7 Sweden 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 3,535.3 3,267.7 Denmark 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 2,048.4 1,796.6 Finland 857.9 980.2 836.6 906.5 850.5 959.2 759.4 The Baltics 347.5 423.6 437.5 514.7 428.4 507.5 445.4 Group Shared Services 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 2,907.9 2,964.1 Eliminations -1,942.7 -2,321.2 -2,561.6 -3,515.6 -2,571.6 -2,953.0 -3,016.3 Revenue group total 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 8,432.6 Norway 60.1 97.4 113.6 139.0 73.1 108.3 122.8 Sweden 184.7 106.7 134.0 121.7 190.4 132.5 163.3 Denmark -11.0 13.4 19.1 51.9 0.0 16.5 23.5 Finland 22.5 38.5 21.1 34.1 23.2 30.1 19.6 The Baltics 15.5 17.4 20.7 40.6 17.5 20.6 26.4 Group Shared Services 7.1 9.5 22.3 16.7 8.9 3.6 26.7 Operating profit before group cost (EBIT) 278.8 282.9 330.9 404.0 313.1 311.5 382.3 Group cost -23.1 -40.0 -23.8 -38.2 -32.2 -43.2 -34.5 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 347.8 Financial income 10.5 9.0 1.2 8.3 27.6 19.2 19.5 Financial expenses 20.7 74.2 58.0 45.6 99.3 84.9 75.5 Net financial items -10.3 -65.2 -56.8 -37.3 -71.8 -65.7 -56.0 Profit before taxes (EBT) 245.4 177.7 250.2 328.6 209.1 202.6 291.7 Tax 53.9 39.2 58.2 75.4 47.1 45.7 65.8 Profit for the period 191.5 138.5 192.0 253.2 162.0 156.9 225.9 Financial performance pro forma – Segment
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NOK in million Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 5,873.4 Software 4,010.4 6,416.5 3,413.6 5,969.1 4,869.7 7,672.5 3,996.3 Product sales 8,960.5 12,043.5 8,969.5 13,653.5 10,622.4 13,918.0 9,869.7 Services sales 2,438.6 2,615.6 2,295.6 2,884.9 2,648.4 2,849.4 2,432.4 Gross sales 11,399.1 14,659.1 11,265.1 16,538.4 13,270.9 16,767.4 12,302.1 Hardware margin (%) 14.3% 13.2% 13.3% 12.3% 13.0% 13.0% 13.4% Software margin (%) 8.8% 6.2% 8.6% 5.8% 7.9% 5.0% 8.0% Product margin (%) 11.8% 9.5% 11.5% 9.5% 10.6% 8.6% 11.2% Services margin (%) 61.3% 57.3% 57.7% 53.7% 58.7% 55.5% 57.7% Gross sales margin (%) 22.4% 18.0% 20.9% 17.2% 20.2% 16.6% 20.4% Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 5,873.4 Software 351.7 398.1 294.6 346.0 383.1 381.2 320.5 Product revenue 5,301.7 6,025.1 5,850.5 8,030.4 6,135.9 6,626.7 6,193.9 Services revenue 2,303.8 2,355.0 2,132.3 2,583.9 2,417.1 2,511.8 2,238.7 Revenue 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 8,432.6 Hardware 708.5 745.1 737.2 946.8 745.5 813.2 789.0 Software 351.7 398.1 294.6 346.0 383.1 381.2 320.5 Product gross profit 1,060.1 1,143.2 1,031.9 1,292.8 1,128.6 1,194.4 1,109.5 Services gross profit 1,495.4 1,498.4 1,325.0 1,550.1 1,553.5 1,581.5 1,404.4 Total gross profit 2,555.5 2,641.6 2,356.8 2,842.9 2,682.1 2,775.9 2,513.9 Payroll and related costs 1,918.6 2,004.6 1,661.6 2,021.8 1,994.0 2,071.4 1,756.5 Other operating costs 201.2 214.7 203.1 263.5 219.6 242.1 212.9 Depreciation of ROU, leasing 98.3 97.9 101.3 108.3 103.7 108.1 111.5 Depreciation of other assets 79.0 78.6 81.0 80.7 81.3 83.5 82.8 Amortization of acquired intangibles 2.8 2.8 2.7 2.7 2.6 2.5 2.5 Total operating expenses 2,299.8 2,398.6 2,049.8 2,477.1 2,401.2 2,507.6 2,166.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 347.8 EBIT (%) 3.4% 2.9% 3.8% 3.4% 3.3% 2.9% 4.1% 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 Q3 25 Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 5,873.4 Software 4,010.4 6,416.5 3,413.6 5,969.1 4,869.7 7,672.5 3,996.3 Product sales 8,960.5 12,043.5 8,969.5 13,653.5 10,622.4 13,918.0 9,869.7 Services sales 2,438.6 2,615.6 2,295.6 2,884.9 2,648.4 2,849.4 2,432.4 Gross sales 11,399.1 14,659.1 11,265.1 16,538.4 13,270.9 16,767.4 12,302.1 Hardware margin (%) 14.3% 13.2% 13.3% 12.3% 13.0% 13.0% 13.4% Software margin (%) 8.8% 6.2% 8.6% 5.8% 7.9% 5.0% 8.0% Product margin (%) 11.8% 9.5% 11.5% 9.5% 10.6% 8.6% 11.2% Services margin (%) 61.3% 57.3% 57.7% 53.7% 58.7% 55.5% 57.7% Gross sales margin (%) 22.4% 18.0% 20.9% 17.2% 20.2% 16.6% 20.4% Hardware 4,950.1 5,627.0 5,555.9 7,684.4 5,752.8 6,245.5 5,873.4 Software 351.7 398.1 294.6 346.0 383.1 381.2 320.5 Product revenue 5,301.7 6,025.1 5,850.5 8,030.4 6,135.9 6,626.7 6,193.9 Services revenue 2,303.8 2,355.0 2,132.3 2,583.9 2,417.1 2,511.8 2,238.7 Revenue 7,605.6 8,380.1 7,982.8 10,614.3 8,553.0 9,138.5 8,432.6 Hardware 708.5 745.1 737.2 946.8 745.5 813.2 789.0 Software 351.7 398.1 294.6 346.0 383.1 381.2 320.5 Product gross profit 1,060.1 1,143.2 1,031.9 1,292.8 1,128.6 1,194.4 1,109.5 Services gross profit 1,495.4 1,498.4 1,325.0 1,550.1 1,553.5 1,581.5 1,404.4 Total gross profit 2,555.5 2,641.6 2,356.8 2,842.9 2,682.1 2,775.9 2,513.9 Payroll and related costs 1,918.6 2,004.6 1,661.6 2,021.8 1,994.0 2,071.4 1,756.5 Other operating costs 201.2 214.7 203.1 263.5 219.6 242.1 212.9 Depreciation of ROU, leasing 98.3 97.9 101.3 108.3 103.7 108.1 111.5 Depreciation of other assets 79.0 78.6 81.0 80.7 81.3 83.5 82.8 Amortization of acquired intangibles 2.8 2.8 2.7 2.7 2.6 2.5 2.5 Total operating expenses 2,299.8 2,398.6 2,049.8 2,477.1 2,401.2 2,507.6 2,166.2 Operating profit (EBIT) 255.7 242.9 307.0 365.8 280.9 268.3 347.8 EBIT (%) 3.4% 2.9% 3.8% 3.4% 3.3% 2.9% 4.1% 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 Q3 25 Product sales 2,176.0 2,504.0 2,188.9 3,513.9 2,427.0 2,538.2 2,442.4 Services sales 616.8 682.6 591.1 697.1 689.9 694.4 650.4 Gross sales 2,792.7 3,186.6 2,780.0 4,211.0 3,116.9 3,232.7 3,092.7 Product margin (%) 11.7% 11.5% 11.5% 9.6% 11.3% 11.4% 10.8% Services margin (%) 69.6% 64.4% 64.4% 63.9% 66.1% 64.7% 64.4% Gross sales margin (%) 24.5% 22.8% 22.8% 18.6% 23.4% 22.8% 22.0% Product revenue 1,305.2 1,509.7 1,412.8 2,183.8 1,454.1 1,502.9 1,612.5 Services revenue 594.9 604.5 555.2 634.0 646.1 630.4 603.2 Revenue 1,900.1 2,114.2 1,968.0 2,817.8 2,100.2 2,133.3 2,215.7 Product gross profit 254.4 288.0 251.8 337.6 273.8 289.1 262.8 Services gross profit 429.2 439.8 380.8 445.3 455.7 449.3 419.1 Total gross profit 683.6 727.8 632.6 782.8 729.4 738.5 681.9 Payroll and other operating expenses 589.7 596.1 485.2 609.3 621.5 595.9 523.4 Depreciation and amortization 33.8 34.3 33.8 34.6 34.9 34.3 35.7 Total operating expenses 623.5 630.4 519.0 643.9 656.4 630.2 559.1 Operating profit (EBIT) 60.1 97.4 113.6 139.0 73.1 108.3 122.8 EBIT (%) 3.2% 4.6% 5.8% 4.9% 3.5% 5.1% 5.5% 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 Q3 25 Product sales 3,912.0 5,071.1 3,446.0 5,483.0 4,540.8 5,580.4 3,693.8 Services sales 903.6 960.8 787.3 1,054.7 957.2 1,016.1 867.2 Gross sales 4,815.6 6,031.9 4,233.3 6,537.7 5,498.0 6,596.6 4,561.0 Product margin (%) 11.0% 8.8% 11.4% 8.5% 9.5% 8.5% 10.9% Services margin (%) 58.8% 52.1% 52.6% 48.8% 55.2% 51.8% 50.8% Gross sales margin (%) 19.9% 15.7% 19.1% 15.0% 17.4% 15.2% 18.5% Product revenue 2,007.9 2,222.0 2,210.7 2,647.3 2,218.0 2,373.1 2,276.2 Services revenue 866.6 870.8 738.2 985.0 881.1 944.7 803.3 Revenue 2,874.5 3,092.8 2,948.8 3,632.3 3,099.1 3,317.8 3,079.5 Product gross profit 429.1 443.9 394.5 464.5 430.4 476.4 401.7 Services gross profit 531.1 500.9 414.4 514.3 528.2 526.2 440.4 Total gross profit 960.2 944.7 808.9 978.8 958.7 1,002.5 842.1 Payroll and other operating expenses 733.6 794.2 633.8 815.1 729.7 831.3 642.8 Depreciation and amortization 44.2 44.3 45.0 45.0 45.3 46.2 45.3 Total operating expenses 777.8 838.6 678.8 860.1 775.0 877.5 688.2 Operating profit (EBIT) 182.4 106.2 130.1 118.8 183.6 125.0 153.9 EBIT (%) 6.3% 3.4% 4.4% 3.3% 5.9% 3.8% 5.0% 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 Q3 25 Product sales 3,956.8 5,079.3 3,542.5 5,602.9 4,704.9 5,941.3 3,918.7 Services sales 915.2 963.1 810.0 1,078.8 993.9 1,083.0 920.0 Gross sales 4,872.0 6,042.4 4,352.5 6,681.7 5,698.8 7,024.3 4,838.7 Product margin (%) 11.0% 8.8% 11.5% 8.5% 9.5% 8.5% 10.9% Services margin (%) 58.7% 52.1% 52.7% 48.8% 55.2% 51.8% 50.8% Gross sales margin (%) 20.0% 15.7% 19.1% 15.0% 17.5% 15.2% 18.5% Product revenue 2,031.6 2,227.1 2,274.0 2,705.4 2,302.1 2,528.4 2,415.6 Services revenue 877.8 873.1 759.4 1,007.5 915.2 1,006.9 852.2 Revenue 2,909.4 3,100.2 3,033.4 3,713.0 3,217.3 3,535.3 3,267.7 Product gross profit 434.5 445.3 405.9 474.8 446.5 507.2 426.2 Services gross profit 537.6 502.1 426.6 526.1 548.2 560.7 467.3 Total gross profit 972.1 947.3 832.5 1,000.9 994.6 1,067.9 893.5 Payroll and other operating expenses 742.7 796.2 652.3 833.2 757.3 886.2 682.1 Depreciation and amortization 44.7 44.4 46.2 46.0 47.0 49.2 48.1 Total operating expenses 787.5 840.6 698.5 879.2 804.3 935.4 730.2 Operating profit (EBIT) 184.7 106.7 134.0 121.7 190.4 132.5 163.3 EBIT (%) 6.3% 3.4% 4.4% 3.3% 5.9% 3.7% 5.0% 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 Q3 25 Product sales 1,090.9 1,929.8 1,173.7 2,011.0 1,439.1 2,521.3 1,398.3 Services sales 408.6 450.7 381.8 485.0 416.0 505.0 370.2 Gross sales 1,499.4 2,380.5 1,555.5 2,496.0 1,855.1 3,026.3 1,768.5 Product margin (%) 10.2% 6.4% 8.7% 8.0% 8.4% 4.2% 8.8% Services margin (%) 52.7% 49.7% 53.0% 43.8% 50.7% 44.8% 53.8% Gross sales margin (%) 21.8% 14.6% 19.6% 15.0% 17.9% 11.0% 18.2% Product revenue 678.9 763.5 733.6 1,320.3 902.2 908.4 794.2 Services revenue 377.2 407.8 354.8 404.3 377.8 400.9 343.2 Revenue 1,056.1 1,171.3 1,088.4 1,724.6 1,280.0 1,309.3 1,137.4 Product gross profit 111.2 124.1 102.1 161.3 120.8 105.7 123.5 Services gross profit 215.3 224.1 202.3 212.2 211.0 226.5 199.1 Total gross profit 326.6 348.2 304.4 373.5 331.9 332.2 322.6 Payroll and other operating expenses 302.9 309.1 261.6 306.5 301.9 290.9 275.8 Depreciation and amortization 31.0 30.2 30.8 34.0 29.8 30.5 31.6 Total operating expenses 333.9 339.3 292.3 340.5 331.7 321.5 307.4 Operating profit (EBIT) -7.3 9.0 12.0 33.0 0.2 10.7 15.1 EBIT (%) -0.7% 0.8% 1.1% 1.9% 0.0% 0.8% 1.3% 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 Q3 25 Product sales 1,668.9 2,999.5 1,850.5 3,168.5 2,247.6 3,949.1 2,211.0 Services sales 625.7 698.2 602.1 764.2 649.1 789.0 584.3 Gross sales 2,294.6 3,697.7 2,452.6 3,932.7 2,896.6 4,738.0 2,795.3 Product margin (%) 10.2% 6.4% 8.7% 8.0% 8.4% 4.2% 8.8% Services margin (%) 52.7% 49.7% 53.0% 43.8% 50.7% 44.9% 53.8% Gross sales margin (%) 21.8% 14.6% 19.6% 15.0% 17.9% 11.0% 18.2% Product revenue 1,038.3 1,181.9 1,156.9 2,080.6 1,409.9 1,421.4 1,254.7 Services revenue 577.7 632.0 559.6 637.2 589.6 627.0 542.0 Revenue 1,615.9 1,813.9 1,716.5 2,717.8 1,999.5 2,048.4 1,796.6 Product gross profit 170.1 192.5 161.0 254.1 188.6 165.5 194.8 Services gross profit 329.9 347.1 319.1 334.5 329.4 353.9 314.3 Total gross profit 500.0 539.6 480.1 588.6 518.0 519.4 509.1 Payroll and other operating expenses 463.6 479.5 412.4 483.1 471.5 455.2 435.6 Depreciation and amortization 47.5 46.8 48.5 53.6 46.5 47.8 50.0 Total operating expenses 511.1 526.2 461.0 536.7 518.0 503.0 485.6 Operating profit (EBIT) -11.0 13.4 19.1 51.9 0.0 16.5 23.5 EBIT (%) -0.7% 0.7% 1.1% 1.9% 0.0% 0.8% 1.3% 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 Q3 25 Product sales 78.9 99.7 92.2 86.5 81.6 93.4 83.1 Services sales 13.5 14.2 13.7 15.1 14.6 13.6 12.7 Gross sales 92.5 113.8 105.9 101.6 96.2 107.0 95.8 Product margin (%) 11.8% 9.2% 8.5% 9.4% 11.4% 10.7% 9.3% Services margin (%) 51.7% 56.2% 48.3% 57.7% 53.0% 51.7% 50.3% Gross sales margin (%) 17.7% 15.1% 13.7% 16.6% 17.8% 15.9% 14.8% Product revenue 63.2 72.3 59.2 63.8 60.9 70.5 53.6 Services revenue 11.9 12.5 12.0 13.3 12.1 11.7 10.8 Revenue 75.1 84.8 71.1 77.1 73.1 82.2 64.4 Product gross profit 9.3 9.2 7.8 8.2 9.3 10.0 7.7 Services gross profit 7.0 8.0 6.6 8.7 7.7 7.0 6.4 Total gross profit 16.3 17.2 14.5 16.9 17.1 17.0 14.1 Payroll and other operating expenses 13.7 13.1 12.0 13.3 14.3 13.6 11.6 Depreciation and amortization 0.7 0.7 0.7 0.7 0.7 0.9 0.9 Total operating expenses 14.4 13.8 12.7 14.0 15.1 14.4 12.5 Operating profit (EBIT) 2.0 3.4 1.8 2.9 2.0 2.6 1.7 EBIT (%) 2.6% 4.0% 2.5% 3.8% 2.7% 3.1% 2.6% 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 Q3 25 Product sales 902.1 1,151.0 1,083.5 1,016.3 950.2 1,088.5 980.6 Services sales 154.6 163.8 161.7 177.5 169.9 158.7 150.1 Gross sales 1,056.7 1,314.8 1,245.3 1,193.8 1,120.1 1,247.2 1,130.7 Product margin (%) 11.8% 9.2% 8.5% 9.4% 11.4% 10.7% 9.3% Services margin (%) 51.7% 56.1% 48.3% 57.7% 53.0% 51.7% 50.2% Gross sales margin (%) 17.7% 15.1% 13.7% 16.6% 17.8% 15.9% 14.7% Product revenue 721.9 835.4 695.9 749.9 709.4 822.2 631.9 Services revenue 135.9 144.9 140.7 156.6 141.1 137.0 127.5 Revenue 857.9 980.2 836.6 906.5 850.5 959.2 759.4 Product gross profit 106.8 106.4 92.3 96.0 108.7 116.5 91.2 Services gross profit 80.0 92.0 78.2 102.5 90.1 82.1 75.4 Total gross profit 186.7 198.4 170.5 198.5 198.8 198.6 166.6 Payroll and other operating expenses 156.3 151.5 140.7 155.9 166.9 158.5 136.3 Depreciation and amortization 7.9 8.3 8.7 8.5 8.7 10.0 10.7 Total operating expenses 164.2 159.8 149.4 164.4 175.6 168.5 147.0 Operating profit (EBIT) 22.5 38.5 21.1 34.1 23.2 30.1 19.6 EBIT (%) 2.6% 3.9% 2.5% 3.8% 2.7% 3.1% 2.6% 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 Q3 25 Product sales 25.5 28.9 28.3 32.0 29.1 36.2 31.6 Services sales 13.9 13.8 13.9 17.3 15.6 15.1 14.6 Gross sales 39.3 42.7 42.1 49.3 44.7 51.3 46.2 Product margin (%) 11.2% 13.2% 13.2% 14.6% 12.4% 9.9% 12.0% Services margin (%) 65.8% 64.2% 62.9% 62.9% 61.7% 68.3% 66.6% Gross sales margin (%) 30.5% 29.7% 29.6% 31.6% 29.6% 27.1% 29.3% Product revenue 17.4 23.5 24.7 28.1 22.9 29.7 24.4 Services revenue 13.1 13.2 12.5 15.7 13.9 13.9 13.4 Revenue 30.4 36.7 37.2 43.8 36.8 43.6 37.8 Product gross profit 2.9 3.8 3.7 4.7 3.6 3.6 3.8 Services gross profit 9.1 8.9 8.7 10.9 9.6 10.3 9.7 Total gross profit 12.0 12.7 12.5 15.6 13.2 13.9 13.5 Payroll and other operating expenses 8.9 9.5 9.1 10.4 10.0 10.3 9.6 Depreciation and amortization 1.7 1.6 1.6 1.7 1.7 1.8 1.7 Total operating expenses 10.6 11.2 10.7 12.1 11.7 12.1 11.3 Operating profit (EBIT) 1.4 1.5 1.8 3.5 1.5 1.8 2.2 EBIT (%) 4.4% 4.1% 4.7% 7.9% 4.1% 4.1% 5.9% 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 Q3 25 Product sales 290.6 332.6 332.7 375.8 339.8 421.3 372.3 Services sales 158.4 159.9 163.3 203.8 181.9 176.4 172.0 Gross sales 449.0 492.5 496.1 579.6 521.7 597.7 544.3 Product margin (%) 11.2% 13.2% 13.2% 14.6% 12.4% 9.9% 12.0% Services margin (%) 65.8% 64.2% 62.8% 62.9% 61.7% 68.3% 66.6% Gross sales margin (%) 30.5% 29.8% 29.6% 31.6% 29.6% 27.1% 29.3% Product revenue 197.9 271.0 290.8 329.7 266.9 345.6 287.2 Services revenue 149.5 152.5 146.8 185.0 161.4 162.0 158.2 Revenue 347.5 423.6 437.5 514.7 428.4 507.5 445.4 Product gross profit 32.6 44.0 44.1 54.9 42.0 41.6 44.8 Services gross profit 104.2 102.7 102.7 128.2 112.2 120.5 114.6 Total gross profit 136.9 146.7 146.7 183.1 154.2 162.1 159.4 Payroll and other operating expenses 101.7 110.3 106.7 122.8 116.4 120.7 113.3 Depreciation and amortization 19.6 19.0 19.3 19.7 20.3 20.9 19.7 Total operating expenses 121.3 129.3 126.0 142.5 136.7 141.5 133.0 Operating profit (EBIT) 15.5 17.4 20.7 40.6 17.5 20.6 26.4 EBIT (%) 4.5% 4.1% 4.7% 7.9% 4.1% 4.1% 5.9% 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 Q3 25 Product sales 1,640.4 1,985.9 2,237.9 3,141.0 2,230.6 2,595.5 2,642.6 Services sales 296.2 307.8 339.9 350.1 322.7 339.6 346.7 Gross sales 1,936.6 2,293.6 2,577.8 3,491.1 2,553.4 2,935.0 2,989.3 Product margin (%) 2.2% 2.1% 1.8% 1.6% 1.8% 2.0% 2.1% Services margin (%) 77.6% 77.4% 72.4% 71.6% 77.3% 74.0% 75.4% Gross sales margin (%) 13.8% 12.2% 11.1% 8.6% 11.4% 10.3% 10.6% Product revenue 1,621.2 1,961.3 2,212.5 3,110.2 2,206.1 2,568.3 2,617.4 Services revenue 296.2 307.8 339.9 350.1 322.7 339.6 346.7 Revenue 1,917.4 2,269.1 2,552.4 3,460.3 2,528.8 2,907.9 2,964.1 Product gross profit 36.9 40.9 40.8 50.1 40.5 52.1 54.9 Services gross profit 230.0 238.2 246.1 250.7 249.4 251.4 261.5 Total gross profit 266.8 279.1 286.9 300.9 289.9 303.5 316.5 Payroll and other operating expenses 233.4 243.2 236.1 255.0 251.0 267.9 257.2 Depreciation and amortization 26.4 26.5 28.4 29.3 30.1 31.9 32.6 Total operating expenses 259.8 269.6 264.6 284.2 281.1 299.8 289.8 Operating profit (EBIT) 7.1 9.5 22.3 16.7 8.9 3.6 26.7 EBIT (%) 0.4% 0.4% 0.9% 0.5% 0.4% 0.1% 0.9% Income statement actual – Group Shared Services* (MNOK) * Atea Logistics, Atea Global Services, Atea Group Functions, AppXite and Securitization SPV