Better results than previously communicated and record in new cloud service agreements
October - December 2024
- Revenues decreased by 6.7 per cent to SEK 1,268.5 million (1,360.0).
- Adjusted EBITA decreased by 12.0 per cent and amounted to SEK 80.2 million (91.1), corresponding to an adjusted EBITA margin of 6.3 per cent (6.7).
- Earnings before tax amounted to SEK 63.7 million (82.6).
- Earnings after tax amounted to SEK 50.3 million (65.5).
- Earnings per share amounted to SEK 1.87 (2.39).
- New contracts relating to cloud services worth SEK 224.3 million (197.0) were contracted, an increase by 13.9 per cent.
- Recurring revenues (revenues from cloud and support services) amounted to SEK 445.3 million (436.9), corresponding to an annualised rate of SEK 1,781.0 million (1,747.6) and an increase of 1.9 per cent.
- Jonas Hasselberg steps down as President and CEO of Proact IT Group, and the Board of Directors begins a search for his successor.
- Proact issues a profit warning as revenue for Q4 2024 are expected to decrease by 10-15% and adjusted EBITA by 20-30% compared to the previous year. The deviation is explained by a temporary decline in the systems business and a continued challenging market in Germany.
January - December 2024
- Revenues increased by 0.3 per cent to SEK 4,864.2 million (4,847.3).
- Adjusted EBITA increased by 16.1 per cent and amounted to SEK 350.6 million (302.1), corresponding to an adjusted EBITA margin of 7.2 per cent (6.2).
- Earnings before tax amounted to SEK 278.0 million (218.3).
- Earnings after tax amounted to SEK 219.9 million (173.1).
- Earnings per share amounted to SEK 8.15 (6.29).
- New contracts relating to cloud services worth SEK 643.1 million (548.0) were contracted, an increase by 17.4 per cent.
- Recurring revenues (revenues from cloud and support services) amounted to SEK 1,755.5 million (1,692.5), an increase of 3.7 per cent.
- On July 12, the Board of Directors decided to launch a share buy-back program during the third quarter 2024, in accordance with the decision taken by the Annual General Meeting in May.
- The Board of Directors proposes that the Annual General Meeting resolves on a dividend of SEK 2.40 (2.00) per share.
Analysts conference (online)
Analysts are invited to a presentation of the quarterly report via an online conference today, Tuesday 11 February 2025 at 10:00-11:00 CET. The meeting will be hosted by Jonas Hasselberg, President and CEO and Noora Jayasekara, CFO.
Link to the event
Dial-in number: +46 8 505 323 36 Sweden, Stockholm (Toll)
Conference ID: 673 634 541#
Local dial-in numbers
The presentation will be published on the company's website after the video conference.
The conference will be recorded. Personal information will be handled in accordance with Proact's Privacy Notice.
For further information, please contact:
Jonas Hasselberg, CEO, Proact IT Group AB, +46 722 13 55 56, jonas.hasselberg@proact.eu
Noora Jayasekara, CFO & IR, Proact IT Group AB, +46 70 318 92 97, noora.jayasekara@proact.eu
About Proact
Proact is Europe's leading specialist in data and information management with focus on cloud services and data centre solutions. We help our customers to store, connect, protect, secure and drive value through their data whilst increasing agility, productivity and efficiency.
We've completed thousands of successful projects around the world, have more than 4,000 customers and currently manage hundreds of petabytes of information in the cloud. We employ over 1,200 people in 12 countries across Europe and North America.
Founded in 1994, our parent company, Proact IT Group AB (publ), was listed on Nasdaq Stockholm in 1999 (under the symbol PACT). For further information about Proact's activities please visit us at www.proact.eu
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This information is information that Proact IT Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-11 08:00 CET.
