Financial reports
Proact strives to give the shareholders, investors and financial analysts transparent, relevant and accurate information to increase knowledge of the Group’s operations and share
Reports
Interim Report, January - March 2023
04-05-2023 | RPT - Insider Information
Good organic growth and maintained gross margins
Proact Annual Report 2022 published
13-04-2023 | RDV - Insider Information
· Annual Report 2022 available for download and printed version available for order · The Annual Report 2022 publication consists of Proact’s Financial report 2022, the Sustainability Report 2022, the Remuneration Report 2022 and the…
Year-end report 2022
09-02-2023 | KMK - Insider Information
Strong organic growth and good profitability
Interim Report January - September 2022
25-10-2022 | RPT - Insider Information
Continued strong growth and good profitability
Half-yearly report, January – June 2022
14-07-2022 | RPT - Insider Information
Record quarter with strong growth
Interim Report, January - March 2022
26-04-2022 | RPT - Insider Information
Strong growth within both systems and services
Proact Annual Report 2021 published
13-04-2022 | RDV - Insider Information
· Annual Report 2021 available for download and printed version available for order · The Annual Report 2021 publication consists of Proact’s Financial report 2021, the Sustainability Report 2021, the Remuneration Report 2021 and the…
Year-end report 2021 (correction of dividend)
10-02-2022 | KMK - Insider Information
Strong cloud services revenues and good demand despite delivery delays
Year-end report 2021
10-02-2022 | KMK - Insider Information
Strong cloud services revenues and good demand despite delivery delays
Interim Report January - September 2021
21-10-2021 | RPT - Insider Information
Strong development in profitability driven by higher gross margin
Half-yearly report, January – June 2021
14-07-2021 | RPT - Insider Information
Lower sales and good cost control
Interim Report, January – March 2021
22-04-2021 | RPT - Insider Information
Good sales growth and strategic acquistion in Sweden
Annual report 2020
14-04-2021 | RDV - Insider Information
Download the annual report here.
Year-end report 2020
11-02-2021 | KMK - Insider Information
Very strong result and good development in contracted cloud services
Interim Report January - September 2020
23-10-2020 | RPT - Insider Information
Good growth and strong result development
Half-yearly report, January – June 2020
15-07-2020 | RPT
Good growth, positive development in result and strong cash flow
Interim Report, January – March 2020
24-04-2020 | RPT - Insider Information
Improved profitability and continued positive development of service revenues
Annual report 2019
17-04-2020 | RDV
Download the annual report here.
Year-end report 2019
06-02-2020 | KMK
Strong development of cloud services, better profitability in Nordics but continued challenges in West
Interim Report January - September 2019
17-10-2019 | KMK
Strong development of cloud services and improvements in Business Unit West
Half-yearly report, January – June 2019
11-07-2019 | RPT
Positive trend for cloud services and challenging quarter in Business Unit West

Solna 4 May, 2023
Continued high revenue growth, both overall and organically
Jonas Hasselberg, CEO
Comments from the CEO of Proact
2023 has begun with continued high revenue growth, both overall and organically. Generally, we do not see any significant changes in demand due to worsening macro-economic conditions, although some isolated markets see somewhat prolonged sales cycles and a certain degree of uncertainty. Revenues for the quarter amounted to SEK 1,220 million (1,064), corresponding to growth of 15 per cent. Organically revenues increased by 8 per cent, with organic growth of 10 per cent for systems and 6 per cent for services.
Our recurring revenues, revenues from cloud and support services, continue to develop well. Overall, they grew by 15 per cent to an annualized rate of SEK 1,596 million (1,385) and organically they grew by 8 per cent. The recurring revenues also grow quarter over quarter, with a growth of 3 per cent from the fourth quarter of 2022. We signed contracts for our cloud services of SEK 117 million (122), where Business Unit West declined from a strong first quarter last year, while the remaining Business Unites grew. Our assessment is that so far, the decline is not a result of increased cautiousness in the market, but rather is a timing effect as it is based on a relatively limited number of deals in any single quarter.
The systems growth in the quarter was very good in all Business Units except UK, and all Business Units showed organic growth for services. Support as well as cloud services showed good organic growth, both because of won deals in the previous year and through price increases. Revenues from consulting services decreased somewhat organically, primarily due to fewer employed consultants connected to a strong labor market.
We continue to see an impact on our costs from the high inflation. Price increases and efficiencies in our service operations has enabled us to maintain our gross margins, but the increase in sales and administration costs impact the EBITA margin negatively. To secure our long-term competitiveness and enable us to move towards our EBITA margin target of 8 per cent, we have decided to initiate a cost saving program.
Adjusted EBITA during the quarter increased to SEK 57 million (52) corresponding to a margin of 4.7 per cent (4.9), as a result of the increased revenues in combination with relatively unchanged gross margins, offset by higher sales and administration costs.
We see that customers have large needs of help with hybrid cloud solutions that combine the best of private and public clouds to solve their business demands. One example is the migration from traditional infrastructure to a hybrid cloud solution based on Proact Hybrid Cloud and Microsoft Azure that we helped a longtime customer in the UK with during the quarter.
Our success is dependent on our employees and our partners, and it is thus gratifying that our partners continue to give us awards, such as NetApp’s EMEA Partner of the Year that we received during the quarter. Together we continue to deliver value to our customers, and we see that they appreciate us in customer surveys, such as the one in Germany where we this quarter were selected as one of the three leading cloud services suppliers in our size category.