Corporate Governance

Presidents Statement

Stable development in revenues and profit

I am very pleased to be able to present the best results for a first quarter that the company has ever seen. Profit before tax for the first quarter amounted to SEK 27.1 million, before adjusting for non-recurring items of SEK 5.8 million, representing an increase of 5% compared with the corresponding period last year. Profits have continued to develop positively thanks to focused and continuous improvement and streamlining work, in combination with higher revenues and greater profitability, in respect of service operations in particular. This is pleasing to see as the company’s strategy includes increasing the proportion of contracted revenues, which involves support and cloud services. The company’s margin, profit before tax, has increased in the quarter by 0.2 percentage. This is a positive step towards reaching our stated goal of 5%.

The company’s total revenues remained unchanged throughout the quarter and amounted to
SEK 723 million. One positive aspect is that total revenues for service operations have developed well and amounted to SEK 255 million during the quarter, representing an increase of 11%. Revenues relating to cloud services have also developed positively during the quarter and amounted to
SEK 86 million, representing an increase of 26%. System revenues fell, primarily due to the fact that fewer individual major system contracts were concluded during the quarter compared with the same period last year.

We are constantly working to develop the company according to our established strategy. Part of the company’s strategy, as stated previously, involves increasing the proportion of contracted revenues. Another element of the strategy involves increasing revenues with regards to datacentre solutions, which is a combination of storage, servers and network. We have successfully implemented a number of customer projects in this area during the quarter. Examples of projects implemented can be found in the section entitled “Events during the quarter”. 

Proact’s leading position in the technology services market was underlined when the company received the Global Partner Innovation Award by VMware. At the same event Proact also collected the VMware EMEA Partner Innovation Award. It is rewarding to see Proact’s skill and expertise, in a pivotal component of the enterprise solution stack, be recognised by our strategic partners. A number of projects have lately been implemented successfully in the fields of virtualisation, networking and automation, these are key components in the company’s datacentre initiative, and demonstrate that Proact is consistently chosen by customers who depend upon the level of capability that Proact enjoys.

Internal initiatives implemented in fields such as innovation, sales and business streamlining are continuing to pay off, making us even more competitive. Our ability to help our customers to minimise risks and reduce costs, and also to supply flexible IT services and products, places us in a strong position on the European market, giving us good opportunities for continued positive development in terms of both revenues and profits.  

Jason Clark

CEO

 

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