Continued positive development for profits
The first quarter in brief
· As from January 1, 2018, the company applies the new accounting standard IFRS 15. In conjunction to this, the company has changed accounting principle for the part of system revenues referring to supplier's guarantees and maintenance. In total, these changes have had a negative effect on the quarter's revenues with SEK 95 million, at the same time costs of goods and services sold have been affected positively. These revenues and costs will be recognized over future periods, over a period of one to three years.
· Revenues decreased by 13% to SEK 759 (873) million. Growth in local currencies was -15%.
· EBITDA decreased by 4 % and amounted to SEK 50.2 (52.2) million.
· Profit before tax increased by 2% to SEK 33.2 (32.7) million. Adjusted for items affecting comparability (SEK 2.6 million), relating to costs for change of CEO, the increase was 10%.
· Profit after tax increased by 6% to SEK 25.3 (23.9) million.
· Profit per share amounted to 2.76 (2.52) SEK.
· Return on equity over the last 12 months amounted to 29.3% (31.6%).
For further information, please contact:
Peter Javestad, Acting CEO, Proact IT Group AB, tel: 46 8 410 667 22, e-mail: [email protected]
Jonas Persson, CFO, Proact IT Group AB, Tel: 46 8 410 666 90, e-mail: [email protected]
Proact is Europe's leading independent data centre and cloud services provider. By delivering flexible, accessible and secure IT solutions and services, we help companies and authorities reduce risk and costs, whilst increasing agility, productivity and efficiency. We've completed over 5,000 successful projects around the world, have more than 3,500 customers and currently manage in excess of 100 petabytes of information in the cloud. We employ over 800 people in 15 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), listed on Nasdaq Stockholm in 1999 (under the symbol PACT).
For further information about Proact's activities please visit us at www.proact.eu
(c) 2018 Cision. All rights reserved., source Press Releases - English