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 2019
Continued positive trend for Proact’s revenue
Year-end report 2018
Continued positive development of revenues and profits
Interim report, January – September 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…
Interim Report, January – March 2018
Continued positive development for profits
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…
Interim Report, January - March 2017
Continued positive development for revenues and profits
Year-end report 2016
Five percent target margin exceeded for fourth quarter, 70 percent quarter on quarter increase in PBT
Interim report, January – September 2016
Further progress towards the 5% target margin
Half-yearly report January – June 2016
Stable development in revenues and profit continuing
Interim Report January - March 2016
Stable development in revenues and profit
Year-end report 2015
Good development in earnings and profit continuing
Interim report January - September 2015
Strong revenue development and the eighth consecutive quarter showing improvement in profits
Half-yearly report January – June 2015
Good development in earnings and profit continuing
Interim report January – March 2015
Good development in earnings and profit
Solna 4 May, 2023
Continued high revenue growth, both overall and organically
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.
