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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

All Reports

Year-end report 2019

Strong development of cloud services, better profitability in Nordics but continued challenges in West

Year-end report 2018

Continued positive development of revenues and profits

Half-yearly report, January – June 2018

The second quarter in brief · Revenues increased by 5% to SEK 868 (826) million. Growth in local currencies was 1%. Change in accounting principles has affected revenues for the quarter negatively by SEK 8…

Year-end report 2017

Continued positive development for revenues and profits

Interim report, January – September 2017

Third quarter in brief · Revenues increased by 11% to SEK 657 (594) million. Growth in local currencies was 12%. The organic · growth equals 1%. · EBITDA increased by 23% and amounted to SEK…

Half-yearly report, January – June 2017

The second quarter in brief Revenues increased by 13% to SEK 830 (737) million, the organic growth equals -4%. EBITDA increased by 22% and amounted to SEK 57.4 (46.9) million. Profit before tax increased by…

Year-end report 2016

Five percent target margin exceeded for fourth quarter, 70 percent quarter on quarter increase in PBT

Year-end report 2015

Good development in earnings and profit continuing

Jonas Hasselberg CEO Proact

Solna 8 February, 2024

A strong fourth quarter with good growth within cloud services.

Comments from the CEO of Proact

A strong fourth quarter with continued good development in the services business in most of the markets concludes another successful year for Proact.

Compared to last year’s record quarter, where sales increased by more than 50%, the revenue in the quarter fell by 5.6% to SEK 1,360 million (1,440) and organic growth amounted to -6.9%.

The revenue in the systems business decreased by 11% and organically by 11.4% compared to the same quarter last year. The decline can largely be explained by the strong recovery in system sales in the second half of 2022 when the backlog during the semiconductor shortage could be delivered. To some extent, the quarter has also been characterised by longer sales cycles and a more reserved market.

The services business continued to show good growth in most markets during the quarter driven by cloud and support services that more than compensated for a weaker development in consulting services, linked to the system business. In total, the services business increased by 4.8% to SEK 547 million (522) and organically by 1.9%. Recurring revenues from contracted cloud and support services increased by 12.6% to an annual rate of SEK 1,748 million (1,552).

We concluded an agreement for our contracted cloud services to a record high SEK 197 million (142) with the majority in BU West and BU Nordic & Baltics, which provides a good platform for future growth. There is a good demand for our solutions and services and Proact is well positioned when our customers and the market move towards more complex hybrid cloud solutions.

The cost efficiency program that was launched during the second quarter has been implemented and the effects are visible in both COGS and selling and administrative expenses. Cost efficiencies and the growth in the services business compensate for a slightly lower margin in the system business, which results in a gross margin after depreciation in line with the previous year, 22.2% (22.5).

Adjusted EBITA decreased in the quarter to SEK 91 million (102), which corresponds to a margin of about 6.7% (7.1) as the lower income was not fully compensated by lower costs and other efficiencies.

Thanks to a strong balance sheet, during the quarter we initiated a share buy-back program in accordance to the mandate given at the 2023 annual general meeting and within the framework we have so far acquired 218,500 shares.

Close cooperation with customers and partners is our highest priority. In the 2023 customer survey, we were awarded a Net Promoter Score (NPS) of 59, which is a significant increase from last year’s 46. During the quarter, Dell recognised Proact with two awards for our work focusing on data protection and security and data center sales. We are also very proud to be the first partner in Sweden to be able to offer our own support for Dell PowerStore. We have also expanded our cloud competence within Microsoft Azure.

During the quarter, we implemented changes in the group management, where in January we welcomed Maria Gomez as the new Business Unit Director for BU Central and announced that Noora Jayasekara will take over as the new CFO in the spring. Maria and Noora both bring solid experience and broad competence that will contribute to Proact’s continued journey of growth and success.

Our long-term goals of 10% revenue growth, of which about half organic and 8% EBITA margin remain, and we are well equipped with a strong market offer and implemented efficiency improvements.

I want to thank our customers and partners for the past year and above all I want to thank all colleagues for their commitment that makes Proact the great company we are.

We have an exciting year ahead that I look forward to with optimism.

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