Slide 1: Q1 2026 Presentation
Q1 2026 Presentation April 28, 2026
Slide 2: Highlights – Q1 2026
Highlights – Q1 2026 Gross sales of NOK 14.8 billion Net revenue (IFRS) of NOK 9.7 billion Up 11.5% from last year Up 12.9% from last year EBIT of NOK 476 million Net profit of NOK 389 million Up from NOK 281 million last year Up from NOK 162 million last year
Slide 3: Income statement – Q1 2026
Income statement – Q1 2026 • Strong profit growth in Q1 2026 driven by high demand for hardware and software • In addition, Atea realized a NOK 152 million gain from the partial sale of its holding in AppXite SIA CURRENCY: MNOK Q1 2026 Q1 2025 Growth Hardware 6,838 5,753 18.9% Software/Cloud 5,312 4
Slide 4: Business unit performance – Q1 2026
Business unit performance – Q1 2026 • All geographies report high sales growth and increased EBIT % Gross sales EBIT (adjusted)** Currency: Local in million Gross sales Q1 2026 Q1 2026 Q1 2025 Growth% Q1 2026 Q1 2025 Growth% Norway, NOK 25 % 3,673 3,117 17.8 % 91.1 73.1 24.7 % Sweden, SEK 43 % 5,985
Slide 5: Cash flow from operations – Q1 2026
Cash flow from operations – Q1 2026 • Cash flow from operations was an outflow of NOK 447 million, in line with historic seasonal trends 2,500 2,000 1,500 2021 1,000 NOK in million 2022 500 2023 2024 0 2025 2026 -500 -1,000 -1,500 Q1 Q2 Q3 Q4
Slide 6: Net financial position
CURRENCY: MNOK 31 March 2026 31 March 2025 Interest-bearing liabilities -603 -601 Net Cash and cash equivalents 790 879 financial Net financial position* 187 278 position EBITDA - rolling 4 Q* 2,358 1,930 Net debt / EBITDA, end of quarter (ratio) -0.1 -0.1 Net cash balance of NOK 187 million Loan co
Slide 7: Key growth areas last 12 months – and now
Key growth areas last 12 months – and now Defense IT security • Atea is a key supplier for defense in all countries • Cybersecurity is now more critical than ever • Defense spending will increase significantly • One driver for IT security investments is the • NATO membership is a driving force EU Ne
Slide 8: Infrastructure matters – more than ever
Infrastructure matters – more than ever Digitalization AI opportunities Hybrid / Workplace IT security Networking Sovereign productivity • Continuing trend • To take advantage Cloud • Cybersecurity is • Connectivity is more toward digital of AI opportunities, • AI agents now more critical critical t
Slide 9: 2026 Outlook
2026 Outlook Supply of hardware components will be an industry-wide challenge during 2026 and beyond Sales and EBIT growth in 2026, with strong underlying demand for • Significantly higher unit prices and longer lead times expected IT investment Impact of higher unit pricing on customer behavior is
Slide 10: We build the future with IT.
We build the future with IT.
Slide 11: Q1 2026 Presentation – Fact pack
Q1 2026 Presentation Fact pack April 28, 2026
Slide 12: Highlights – Group
Highlights – Group Q1 Q1 Full year NOK in million 2026 2025 2025 Gross sales 14,799 13,271 60,167 Revenue 9,654 8,553 37,376 Gross profit 2,843 2,682 11,059 EBIT 476 281 1,377 EBIT margin (%) 4.9% 3.3% 3.7% Net profit 389 162 878 Earnings per share (NOK) 3.50 1.45 7.87 Diluted earnings per share (NO
Slide 13: Consolidated statement of financial position – Group
Consolidated statement of financial position – Group NOK in million 31 Mar 2026 31 Mar 2025 31 Dec 2025 ASSETS Property, plant and equipment 561 474 563 Right-of-use assets 1,391 1,436 1,396 Deferred tax assets 130 182 126 Goodwill 4,334 4,403 4,526 Other intangible assets 683 747 753 Investment in
Slide 14: Full-time employees – Group
Full-time employees – Group FTEs, end of period 31 Mar 2026 31 Mar 2025 Norway 1,757 1,766 Sweden 2,643 2,569 Denmark 1,495 1,438 Finland 574 545 Baltics 777 732 Logistics 300 273 Atea Global Services 511 508 Atea ASA 10 9 AppXite 0 54 Atea Group 8,068 7,894
Slide 15: Financial performance actual – Segment
Financial performance actual – Segment NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Norway 2,100.2 2,133.3 2,215.7 2,947.2 2,517.8 Sweden 3,217.3 3,535.3 3,267.7 4,230.8 3,749.9 Denmark 1,999.5 2,048.4 1,796.6 2,481.1 2,110.7 Finland 850.5 959.2 759.4 968.8 882.0 The Baltics 428.4 507.5 445.4 731.5
Slide 16: Financial performance pro forma – Segment
Financial performance pro forma – Segment NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Norway 2,100.2 2,133.3 2,215.7 2,947.2 2,517.8 Sweden 3,217.3 3,535.3 3,267.7 4,230.8 3,749.9 Denmark 1,999.5 2,048.4 1,796.6 2,481.1 2,110.7 Finland 850.5 959.2 759.4 968.8 882.0 The Baltics 428.4 507.5 445.4 731
Slide 17: Income statement actual – Group (NOK million)
Income statement actual – Group (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Hardware 5,752.8 6,245.5 5,873.4 8,102.7 6,837.7 Software/Cloud 4,869.7 7,672.5 3,996.3 6,626.6 5,311.8 Product sales 10,622.4 13,918.0 9,869.7 14,729.3 12,149.5 Services sales 2,648.4 2,849.4 2,432.4 3,097.8
Slide 18: Income statement pro forma – Group (NOK million)
Income statement pro forma – Group (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Hardware 5,752.8 6,245.5 5,873.4 8,102.7 6,837.7 Software/Cloud 4,869.7 7,672.5 3,996.3 6,626.6 5,311.8 Product sales 10,622.4 13,918.0 9,869.7 14,729.3 12,149.5 Services sales 2,648.4 2,849.4 2,432.4 3,097
Slide 19: Income statement actual – Norway (NOK million)
Income statement actual – Norway (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 2,427.0 2,538.2 2,442.4 3,831.4 2,955.8 Services sales 689.9 694.4 650.4 736.0 717.1 Gross sales 3,116.9 3,232.7 3,092.7 4,567.4 3,672.9 Product margin (%) 11.3% 11.4% 10.8% 9.6% 10.4% Services
Slide 20: Income statement actual – Sweden (SEK million)
Income statement actual – Sweden (SEK million) SEK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 4,540.8 5,580.4 3,693.8 5,759.3 5,019.5 Services sales 957.2 1,016.1 867.2 1,118.1 966.0 Gross sales 5,498.0 6,596.6 4,561.0 6,877.4 5,985.5 Product margin (%) 9.5% 8.5% 10.9% 8.7% 9.7% Services
Slide 21: Income statement actual – Sweden (NOK million)
Income statement actual – Sweden (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 4,704.9 5,941.3 3,918.7 6,189.7 5,349.2 Services sales 993.9 1,083.0 920.0 1,199.7 1,026.0 Gross sales 5,698.8 7,024.3 4,838.7 7,389.4 6,375.3 Product margin (%) 9.5% 8.5% 10.9% 8.7% 9.7% Servic
Slide 22: Income statement actual – Denmark (DKK million)
Income statement actual – Denmark (DKK million) DKK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 1,439.1 2,521.3 1,398.3 1,888.0 1,560.1 Services sales 416.0 505.0 370.2 506.0 406.0 Gross sales 1,855.1 3,026.3 1,768.5 2,394.0 1,966.2 Product margin (%) 8.4% 4.2% 8.8% 8.6% 8.7% Services mar
Slide 23: Income statement actual – Denmark (NOK million)
Income statement actual – Denmark (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 2,247.6 3,949.1 2,211.0 2,972.6 2,379.5 Services sales 649.1 789.0 584.3 796.1 617.0 Gross sales 2,896.6 4,738.0 2,795.3 3,768.7 2,996.5 Product margin (%) 8.4% 4.2% 8.8% 8.6% 8.7% Services mar
Slide 24: Income statement actual – Finland (EUR million)
Income statement actual – Finland (EUR million) EUR in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 81.6 93.4 83.1 97.3 96.8 Services sales 14.6 13.6 12.7 15.4 12.9 Gross sales 96.2 107.0 95.8 112.7 109.8 Product margin (%) 11.4% 10.7% 9.3% 10.1% 10.9% Services margin (%) 53.0% 51.7% 50.3% 55
Slide 25: Income statement actual – Finland (NOK million)
Income statement actual – Finland (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 950.2 1,088.5 980.6 1,144.7 1,101.6 Services sales 169.9 158.7 150.1 181.5 147.0 Gross sales 1,120.1 1,247.2 1,130.7 1,326.2 1,248.6 Product margin (%) 11.4% 10.7% 9.3% 10.1% 10.9% Services mar
Slide 26: Income statement actual – Baltic (EUR million)
Income statement actual – Baltic (EUR million) EUR in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 29.1 36.2 31.6 57.6 39.5 Services sales 15.6 15.1 14.6 19.2 16.3 Gross sales 44.7 51.3 46.2 76.8 55.8 Product margin (%) 12.4% 9.9% 12.0% 13.3% 11.7% Services margin (%) 61.7% 68.3% 66.6% 52.4%
Slide 27: Income statement actual – Baltic (NOK million)
Income statement actual – Baltic (NOK million) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 339.8 421.3 372.3 678.7 450.1 Services sales 181.9 176.4 172.0 226.0 185.1 Gross sales 521.7 597.7 544.3 904.7 635.1 Product margin (%) 12.4% 9.9% 12.0% 13.3% 11.6% Services margin (%) 61.7% 68.
Slide 28: Income statement actual – Group Shared Services (MNOK)
Income statement actual – Group Shared Services* (MNOK) NOK in million Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Product sales 2,230.6 2,595.5 2,642.6 3,437.0 2,797.6 Services sales 322.7 339.6 346.7 363.8 351.0 Gross sales 2,553.4 2,935.0 2,989.3 3,800.7 3,148.6 Product margin (%) 1.8% 2.0% 2.1% 1.8% 2.2% Serv