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Interim Report, January – September 2017

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Interim Report, January – September 2017 Interim report, January – September 2017 The third quarter in brief Revenues increased by 11% to SEK 657 (594) million. Growth in local currencies was 12%. The or- ganic growth equals 1%. EBITDA increased by 23% and amounted to SEK 48.9 (39.8) million. Profit before tax increased by 15% to SEK 32.6 (28.3) million. Profit after tax increased by 20% to SEK 24.8 (20.7) million. Profit per share amounted to SEK 2.66 (2.18). The first nine months in brief Revenues increased by 15% to SEK 2,363 (2,054) million. Growth in local currencies was 15%. The organic growth equals 1%. EBITDA increased by 27% and amounted to SEK 159.9 (125.7) million. Profit before tax increased by 26% to SEK 106.1 (84.0) million. Adjusted for items affecting compa- rability for the first nine months 2016 (SEK 5.8 million) the increase was 18%. Profit after tax increased by 27% to SEK 80.0 (62.9). Profit per share amounted to SEK 8.52 (6.64). Return on equity over the last 12 months amounted to 32.8% (29.3%). Revenue per quarter and Net margin (PBT) rolling 12 months EBITDA per quarter and rolling 12 months 1,000.0 6.0% 70.0 250.0 900.0 5.0% 60.0 800.0 200.0 700.0 50.0 4.0% 600.0 40.0 150.0 500.0 3.0% 30.0 400.0 100.0 2.0% 300.0 20.0 % rolling % rolling months 12 SEK SEK millionquarterper 50.0 SEKmillion per quarter 200.0 1.0% 10.0 SEK millionrollingmonths 12 100.0 0.0 0.0% 0.0 0.0 Revenue Net margin Quarter RTM Profit before tax per quarter and rolling 12 months Profit per share and return on equity rolling 12 months 60.0 180.0 14.00 35.0% 160.0 12.00 30.0% 50.0 140.0 10.00 25.0% 40.0 120.0 100.0 8.00 20.0% 30.0 80.0 6.00 15.0% ROE % 20.0 60.0 SEK per share 4.00 10.0% SEK SEK millionquarterper 40.0 10.0 2.00 5.0% 20.0 SEK millionrollingmonths 12 0.0 0.0 0.00 0.0% Quarter RTM Profit per share (SEK) Return on equity Proact IT Group AB (publ) 1 (14) Interim report January-September 2017 Report by the CEO of Proact Five percent target margin reached for the third quarter I am proud to once again be able to report a positive revenue and profit development. This excellent devel- opment means that we are reporting the best revenues and profits for a third quarter in the history of the company, and for a seventh consecutive quarter. The positive development means we are reporting a 5% profit before tax margin for the third quarter, which clearly is very pleasing to see. Profit before tax for the third quarter amounted to SEK 32.6 million, representing an increase of 15% com- pared with the corresponding period last year. Service revenues have continued to develop positively during the period and amounted to SEK 261 million, representing an increase of 7%. Service revenues relating to cloud services amounted to SEK 101 million, representing an increase of 12%. System revenues also devel- oped positively and amounted to SEK 394 million, representing an increase of 13%. This excellent financial trend shows that our specialist expertise and market-leading offering with regard to data centres and cloud services are very much appreciated by both new and existing customers. We have successfully implemented a number of customer projects in the above fields during the quarter. Examples of projects implemented can be found in the section entitled “Events during the quarter”. We are constantly working according to our established strategy and with defined focus areas, in order to meet the company’s objectives and financial targets. It is pleasing that we continue to see positive effects of this work in form of good growth, positive financial performance and an increased net margin. We are also working constantly to develop our offering in fields such as security, automation and applications, these fields are of increasing strategic importance to Proact. Making sure business-critical information is secure is ex- tremely important to our customers. Security threats are real and must be taken into account, no matter what they involve, e.g. following various regulations or legal requirements, ensuring protection against mistakes, sabotage or malicious program code. Proact’s experience and expertise, along with our various services and solutions in the field, create safety and significant benefits for customers. Proact’s objective is to act as a partner to our customers and offer high-quality services and market-leading technologies. We supply flexible services and solutions which quickly add sustainable, long-term value. Over- all, it is clear to me that the initiatives implemented in the various fields continuing to pay off, making us even more competitive. Our ability to help our customers to minimise risks and reduce costs, and also to supply flexible IT services and products, places us in a strong position on the European market, giving us good opportunities for continued positive development in terms of both revenues and profits Kista, 20 October 2017 Jason Clark CEO About Proact 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. The Proact Group has more than 800 employees and operates in 15 countries in Europe and in the USA. Proact was founded in 1994, and its parent company Proact IT Group AB (publ) has been listed on Nasdaq Stockholm under the symbol PACT since 1999. For further information about Proact’s activities please visit us at www.proact.eu Proact IT Group AB (publ) 2 (14) Interim report January-September 2017 Market review Making sure business-critical information is se- the information of this kind is unstructured and cure is extremely important. Security threats are hence difficult to analyse. If this unstructured in- real and must be taken into account, no matter formation is handled correctly, there are plenty what they involve, e.g. following various regula- of opportunities to improve insight into factors tions or legal requirements, or ensuring protec- such as customer behaviours and purchasing tion against mistakes, sabotage or malicious patterns, which in turn means that well-founded program code. Hence information security is a decisions can be made with regard to how cus- very important part of any business and affects tomer requirements can be met more effectively the business decisions made. This fact, in com- in future. bination with the rapid digitisation taking place in most industries and businesses and the in- The underlying growth of digital business-criti- creasing volume of business-critical infor- cal information remains high, and hence more mation, means that the IT infrastructure is be- stringent demands are made of IT operations as coming increasingly complex and new demands effective provision of IT is a prerequisite for effi- are being made. As a result, more and more cient running of the core business. companies and organisations are evaluating options for using various services and new In turn, this means that the need for ongoing fields of technology in order to simplify their IT streamlining, as well as a growing demand for operations and ensure that their supply of IT solutions and services in Proact’s specialist services meets the requirements defined by fields, is indicating major potential for growth for business operations and their customers. the company. Proact has established methods, processes and services to offer so as to meet Traditional applications such as ERP, data- demand on the market and provide the most ef- bases, CRM and email are still business-critical, fective support to its customers. which means that the accessibility and perfor- mance of application information are of vital sig- nificance. New applications such as the Internet of Things (IoT), Analytics and Big Data are also being implemented, making new demands of business, organisation and IT infrastructure as Major events during the quarter A number of major contracts have been concluded in the past quarter, with enterprises such as DONG Energy and MAN in Denmark, Ekspress Grupp in Estonia, Citadele Bank in Latvia, ABN Amro and Jaarbeurs in the Netherlands, NGI in Norway, Global Exchange and Samsung in Spain, HCL, IBM and Kinnarps in Sweden, Geais Group and TEVA Pharma in Czech Republic, Renk and Erdgas Schwaben in Germany. Events during the quarter Proact assists Colly Company with strategic the decision to phase out its own IT infrastruc- transition to the cloud ture in favour of a gradual transition to various forms of cloud services. The aim of this is to in- Colly Company is part of the Indutrade group, crease flexibility and scalability and supply IT which is listed on the stock exchange. Indutrade services cost-effectively. The first step was is an international industrial group that sells and taken a while ago, when the ERP-system was develops components, systems and services migrated to the cloud. with high-level technical content. With its decen- tralised structure, Indutrade operates through The cloud service to be supplied by Proact for over 200 subsidiaries, involving more than managing business-critical information will 5,500 employees in 28 countries on four conti- make it possible for Colly Company to utilise nents.
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