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Atea reports double-digit quarterly growth

IT and cloud services firm Atea has posted an 11% increase in sales for the first quarter, fuelled by strong growth in its Danish unit.

The Oslo, Norway-headquartered company, which operates across the Nordic and Baltic regions, generated sales of NOK 10bn (€1bn) in the quarter, with growth across all lines of business.

EBIT grew to NOK 176m (€17.7m) - up from NOK 32m at the same time last year.

“Atea has been running on all cylinders,” said Atea CEO Steinar Sønsteby. “Our business in Denmark has greatly improved since its reorganization last year, and all other countries have reported record high operating profits.

“All lines of business - hardware, software and services - are showing growth, with particularly strong sales of hardware. At the same time our operating costs are well below last year,” said Sønsteby.

Atea Denmark saw revenue grow 40%, based on strong sales of hardware and consulting services. EBIT was break-even in Q1 2021, compared with an operating loss of DKK 90m (€12.1m) in Q1 2020.

This January, Atea acquired Columbus’ private cloud services business, with a small number of the Danish firm's staff transferring to Atea.

Last year, Atea signed a partnership agreement with Microsoft to bring the Azure cloud platform to more Danish customers.