Atea Asa · OSL:ATEA
Atea Asa — Q2 2021 Earnings Presentation
34 slides from Atea Asa's earnings presentation, Jul 15, 2021
Slide 1: Q2 2021 Presentation
Q2 2021 PRESENTATION July 15, 2021
Slide 2: Highlights – Q2 2021
Highlights – Q2 2021 Strong market demand for products drives record high revenue in Q2 2021 Revenue of NOK 10.9 billion (up 7.8% in constant currency) ‒ Solid growth despite global supply chain challenges in electronics industry EBIT before share based compensation of NOK 243 million (up 4.6%) ‒ Ve
Slide 3: Income Statement – Q2 2021
Income Statement – Q2 2021 Solid business performance, with year-over-year growth impacted by currency fluctuations and exceptionally strong EBIT in Q2 2020 21 - 20 20 - 19 CURRENCY: MNOK Q2 2021 Q2 2020 Growth Q2 2019 Growth Comments Hardware 4,821 4,716 2.2% 4,437 6.3% EBIT before SBC grows in Q2
Slide 4: Business unit performance – Q2 2021
Business unit performance – Q2 2021 • All countries report higher EBIT in Q2 2021, despite exceptional EBIT performance in prior year • Denmark continues to make major progress in its turnaround, with rapid revenue growth and improved profitability % REVENUE REVENUE EBIT before SBC** CURRENCY: Local
Slide 5: Cash flow from operations
Cash flow from operations Cash flow from operations of NOK 582 million in Q2 2021 - Cash flow from operations in Q2 last year was positively impacted by temporary extension of payment terms from vendors at start of pandemic CURRENCY: MNOK Q2 2021 Q2 2020 Cash earnings 307 326 Changes in working capi
Slide 6: Net financial position
Net financial position Net financial position of NOK 405 million - Net debt / EBITDA ratio* of -0.3 was NOK 4.4 billion below loan covenants CURRENCY: MNOK 30 Jun 2021 30 Jun 2020 Interest-bearing liabilities -533 -565 Cash and cash equivalents 938 1,024 Net financial position* 405 459 EBITDA - roll
Slide 7: Accelerated rate of change (Satya Nadella quote)
The first time in history that we have to cope with an accelerated rate of change Satya Nadella
Slide 8: "The Place to Be" – Steinar Sønsteby, CEO
Atea is well positioned as “The Place to Be” for employees, customers, vendors and share-holders - today and in the future. Steinar Sønsteby, CEO Atea ASA
Slide 9: Atea's offering
Atea’s offering Services 20 % Our business consists of three areas: hardware, software and services. All supplemented by Hardware IT specialists with key 50 % competences. Software 30%
Slide 10: Product delivery – Life cycle management
Product delivery – Life cycle management Our logistics center purchases directly from leading manufacturers. This provides a major advantage during supply chain shortages. We also store, configure and recycle IT products for our customers. The shift to remote work with notebooks and video meetings w
Slide 11: Solutions
Solutions Atea has a complete offering in IT infrastructure. Our experts help you Information Management with solutions in our 3 focus areas. We expect the hybrid multi cloud Digital Workplace platform will gain momentum, with networking (5G and WiFi6) and security becoming more decisive. Hybrid Pla
Slide 12: IT as a service
IT as a service The trend of buying infrastructure as a service will accelerate. This includes desktop as a service, network as a service and datacenter as a service. You can choose to buy parts of your IT infrastructure as a service from our modern data centers or as a hybrid multi cloud solution.
Slide 13: A strong team
A strong team Atea has a very strong partnership with leading global technology companies. This guaranties our customers reliable deliveries as well and access to expertise across all areas of the infrastructure.
Slide 14: Financial Times ranked Atea among European companies curbing emissions
⚫ In 2021, Financial Times ranked Atea among a select group of European companies that have made the greatest progress in curbing their greenhouse gas emissions. ⚫ During 2020, Atea reduced its carbon emissions by 29% and processed 453,210 IT units for reuse/recycling in our recycling center. ⚫ In 2
Slide 15: Summary – H1 2021
Summary – H1 2021 Revenue of NOK 20.9 billion, up 6.5% REVENUE NET PROFIT Net profit of NOK 270 million, up 71.9% (8.6% in constant currency) Net financial position of NOK 405 million EBIT EBIT of NOK 382 million, up 52.0% NET DEBT (-0.3 x EBITDA*) * Net debt and EBITDA as defined in Atea’s loan cov
Slide 16: Atea – Specialists in IT infrastructure
AIC Specialists in IT infrastructure
Slide 17: Q2 2021 Fact Pack
ATCR cy A FACT PACK
Slide 18: Highlights – Group
Highlights – Group Q2 Q2 H1 H1 Full year NOK in million 2021 2020 2021 2020 2020 Group revenue 10,928 10,598 20,927 19,641 39,503 Gross profit 2,089 2,065 4,173 4,062 8,236 Gross margin (%) 19.1% 19.5% 19.9% 20.7% 20.8% EBIT before share based compensation 243 232 449 256 906 EBIT 206 220 382 252 85
Slide 19: Consolidated statement of financial position – Group
Consolidated statement of financial position – Group NOK in million 30 Jun 2021 30 Jun 2020 31 Dec 2020 ASSETS Property, plant and equipment 510 533 538 Right-of-use assets 1,217 1,244 1,288 Deferred tax assets 293 378 303 Goodwill 4,000 4,172 4,088 Other intangible assets 301 282 289 Investment in
Slide 20: Full-time employees - Group
Full-time employees - Group FTEs, end of period 30 Jun 2021 30 Jun 2020 31 Dec 2019 Norway 1,670 1,619 1,656 Sweden 2,510 2,537 2,471 Denmark 1,379 1,313 1,363 Finland 430 414 419 Baltics 651 614 667 Logistics 257 242 255 Atea Global Services 462 436 452 Atea ASA 10 11 10 AppXite 47 36 44 Atea Group
Slide 21: Financial performance actual – Segment
Financial performance actual – Segment NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Norway 2,241.9 2,306.5 2,199.9 2,680.0 2,248.5 2,377.6 Sweden 3,526.9 4,575.7 3,192.2 5,099.3 3,887.1 4,738.7 Denmark 1,822.0 2,581.9 1,705.4 2,563.7 2,508.9 2,853.6 Finland 1,183.9 870.3 827.5 904.8 1,095.0 75
Slide 22: Financial performance pro forma – Segment
Financial performance pro forma – Segment NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Norway 2,241.9 2,306.5 2,199.9 2,680.0 2,248.5 2,377.6 Sweden 3,526.9 4,575.7 3,192.2 5,099.3 3,887.1 4,738.7 Denmark 1,822.0 2,581.9 1,705.4 2,563.7 2,508.9 2,853.6 Finland 1,183.9 870.3 827.5 904.8 1,095.0
Slide 23: Income statement actual - Group (NOK million)
Income statement actual - Group (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 4,510.1 4,716.1 4,544.0 5,953.8 5,269.8 4,821.3 Software revenue 2,767.5 4,079.0 2,047.2 3,666.4 2,915.6 4,321.2 Products revenue 7,277.6 8,795.0 6,591.1 9,620.2 8,185.4 9,142.5 Total se
Slide 24: Income statement actual – Norway (NOK million)
Income statement actual – Norway (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 1,154.7 1,188.2 1,223.0 1,493.6 1,142.1 1,204.0 Software revenue 515.4 563.7 502.7 591.0 542.2 622.5 Products revenue 1,670.1 1,751.9 1,725.7 2,084.6 1,684.2 1,826.5 Total services reve
Slide 25: Income statement actual – Denmark (DKK million)
Income statement actual – Denmark (DKK million) DKK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 651.1 623.8 608.9 906.6 1,169.9 840.3 Software revenue 363.0 858.4 301.0 524.4 344.9 945.2 Products revenue 1,014.1 1,482.1 909.9 1,431.0 1,514.7 1,785.5 Total services revenue 288.0 2
Slide 26: Income statement actual – Denmark (NOK million)
Income statement actual – Denmark (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 911.1 922.8 872.6 1,308.7 1,614.5 1,136.2 Software revenue 508.0 1,249.0 430.2 757.9 475.9 1,289.4 Products revenue 1,419.0 2,171.8 1,302.8 2,066.6 2,090.5 2,425.6 Total services reven
Slide 27: Income statement actual – Sweden (SEK million)
Income statement actual – Sweden (SEK million) SEK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 1,813.1 1,867.6 1,760.7 2,182.1 1,801.1 1,855.9 Software revenue 1,119.9 1,893.1 759.2 1,949.5 1,340.0 2,187.0 Products revenue 2,932.9 3,760.7 2,519.9 4,131.6 3,141.1 4,042.9 Total ser
Slide 28: Income statement actual – Sweden (NOK million)
Income statement actual – Sweden (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 1,775.7 1,929.6 1,814.4 2,276.8 1,827.2 1,847.3 Software revenue 1,096.8 1,936.4 793.3 2,025.0 1,359.5 2,184.5 Products revenue 2,872.5 3,866.0 2,607.7 4,301.9 3,186.7 4,031.9 Total ser
Slide 29: Income statement actual – Finland (EUR million)
Income statement actual – Finland (EUR million) EUR in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 45.3 42.9 42.5 51.0 47.4 46.3 Software revenue 60.2 27.1 27.7 23.9 50.8 19.9 Products revenue 105.5 70.0 70.1 74.9 98.2 66.2 Total services revenue 7.7 8.1 7.5 9.2 8.5 8.8 Revenue 113.
Slide 30: Income statement actual – Finland (NOK million)
Income statement actual – Finland (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 473.5 473.6 453.2 548.0 486.1 466.6 Software revenue 629.9 308.1 294.4 257.8 521.8 198.2 Products revenue 1,103.4 781.6 747.6 805.8 1,007.8 664.9 Total services revenue 80.5 88.7 79.9
Slide 31: Income statement actual – Baltics (EUR million)
Income statement actual – Baltics (EUR million) EUR in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 16.5 16.1 15.2 27.4 15.8 17.5 Software revenue 7.2 2.3 2.8 4.5 4.9 2.6 Products revenue 23.7 18.4 18.0 31.8 20.7 20.1 Total services revenue 8.3 8.3 8.9 10.7 9.0 9.6 Revenue 32.0 26.7
Slide 32: Income statement actual – Baltics (NOK million)
Income statement actual – Baltics (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 172.5 177.7 162.5 294.1 162.3 176.2 Software revenue 75.2 26.7 29.8 48.0 50.4 26.2 Products revenue 247.7 204.4 192.3 342.1 212.6 202.4 Total services revenue 86.6 91.1 94.6 114.7 92.3
Slide 33: Income statement actual – Group Shared Services (NOK million)
Income statement actual – Group Shared Services* (NOK million) NOK in million Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Hardware revenue 1,589.0 1,682.5 1,636.5 1,839.0 1,569.2 1,381.2 Software revenue 5.2 6.7 11.6 10.4 10.1 11.9 Products revenue 1,594.2 1,689.2 1,648.1 1,849.4 1,579.3 1,393.1 Total servi
Slide 34: Atea – Specialists in IT infrastructure
AIC Specialists in IT infrastructure