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 2004
A year of major changes With total sales of close to MSEK 835 Proact commands a leading position in the Nordic Region and the Baltic States in the area of services and systems to process…
Interim Report January-September 2004
INTERIM REPORT January - September 2004 Stable service revenue despite a weak market Stable service revenue and lower overhead characterized the third quarter. Continued restraint in the marketplace resulted in lower systems revenue than planned.…
INTERIM REPORT January - June 2004
INTERIM REPORT January - June 2004 Second quarter: Development in the right direction The second quarter shows a recovery compared to the first quarter of the year, both in terms of revenues and result. The…
INTERIM REPORT FIRST QUARTER 2004
INTERIM REPORT FIRST QUARTER 2004 Structural transaction creates prerequisites for increased profitability The IT Market continues to be marked by capital spending restraint. Customer capital spending is driven mostly by aspirations for cost savings. In…
YEAR-END REPORT 2003
PROACT IT GROUP AB (publ) YEAR-END REPORT 2003 Operations and results evolving in the right direction The fourth quarter clearly shows that action taken during the year has generated effects on the Company's earnings as…
PROACT IT Group Q3 2003 Interim Report
Prior action program generates result effects The action program implemented by ProAct has lead to a significant improvement in result compared to the third quarter of the year before, despite an unchanged market situation. This…
PROACT IT Group Q3 2003 Interim report
Prior action program generates result effects
PROACT IT Group Q2 2003 Interim report
Continued market weakness Continued market weakness spelled lower systems revenue than during the corresponding year-ago period. Action programs have been implemented to counter the downturn in market demand. Service operations continued to develop favorably.
PROACT IT Group Q2 2003 Interim report
Continued market weakness Continued market weakness spelled lower systems revenue than during the corresponding year-ago period. Action programs have been implemented to counter the downturn in market demand. Service operations continued to develop favorably.
ProAct IT Group Q1 Interim report
FIRST QUARTER 2003 Focus on earnings A weak market for systems sales and ongoing structural and cost- containment programs had a negative effect on earnings. Services operations continue to develop in a positive way. The…
Year-end Report 2002
YEAR-END REPORT 2002 Positive profits for the quarter despite a weak market ProAct succeeded in generating positive EBITA and a positive cash flow during the fourth quarter. Service operations developed well although system sales fell…
PROACT IT Group AB (publ) Interim Report July - September 2002
Increased service income and lower system sales during the third quarter The third quarter was distinguished by unusually few contracts in the market, and this had a negative effect on ProAct’s profits. The company’s service…
PROACT IT Group AB (publ) Interim report July - September 2002
Increased service income and lower system sales during the third quarter
ProAct IT Group AB (publ) Interim Report April - June 2002
PROACT IT GROUP AB (publ) INTERIM REPORT APRIL - JUNE 2002 Improved profits despite poor market conditions The demanding market conditions continue, and in this situation ProAct is striving both to develop business to ensure…
ProAct IT Group AB (publ) Interim report January - March 2002
Interim report, January-March 2002 Progressive positions in a tough market climate During 2001, growth in the IT market declined dramatically. The low growth rate is expected to continue in 2002 before gradually beginning to improve.…
Proact IT Group AB (publ) Year-End Report 2001
PROACT IT GROUP AB (publ) YEAR-END REPORT 2001 Improved position and relative progress The past year has been distinguished by reticence with regard to new investments in IT and a weak market during the second…
Interim report third quarter, July-September 2001
INTERIM REPORT THIRD QUARTER, July-September 2001 Uncertainty on the market affects ProAct Summary of the period Revenue for the third quarter totalled SEK 155.6 million (127.4), an increase of 22 per cent. In the third…
Interim report second quarter, april - june 2001
PROACT IT GROUP AB (publ) INTERIM REPORT SECOND QUARTER, April-June 2001 Strong growth in spite of weaker market Summary of the period * Revenue during the second quarter amounted to SEK 250.2 million (173.5), and…
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.
