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
Year-end report 2010
Proact expanding on a growing market
Interim report January - September 2010
Proact expanding on a growing market
Half year report January - June 2010
Stable growth
Interim report January - March 2010
Further growth and improvement in profits
Year end report 2009
Further growth and improvement in profits
Interim report January - September 2009
Strong third quarter – profitable growth continuing
Half-year report January - June 2009
Strong growth continuing
Interim report January - March 2009
Strong start to 2009
Year-end report 2008
Record results
Interim report January - September 2008
Continuing improvement in results
Half year report January - June 2008
Continued growth with increasing profitability
Interim report January - March 2008
Strong start to 2008 The first quarter in brief - Net turnover increased by 15 % to SEK 238 (207) million. - Profit before tax amounted to SEK 8.0 (5.6) million. - Net profit after…
Financial Report 2007
Increased growth and profitability
Interim report January - September 2007
Strong growth, improved margin
Interim report January - June 2007
Continued growth with increasing profitability
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.
