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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

Annual report 2005

About Proact Proact is a specialist in handling, securing and storing large volumes of mission-critical information. As an independent integrator, we deliver systems, consultancy services and support in the area of data storage, complemented by…

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 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 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.…

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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