Norway's Atea Q1 revenue rises on hardware demand

Atea ASA

28/04/2026 06:23

Overview

Norway IT infrastructure supplier's Q1 EBIT beat analyst expectations, rising 69.5% yr/yr

Q1 net revenue rose 12.9% yr/yr on strong hardware and software demand

Company recognized gain from partial sale of AppXite subsidiary, as previously announced

Outlook

Atea says underlying demand for IT investment remains robust amid market volatility

Result Drivers

HARDWARE DEMAND - Hardware sales grew 18.9% as customers accelerated orders to secure supply ahead of anticipated component shortages, per CEO

APPXITE GAIN - Company recognized NOK 152 mln gain from sale of majority stake in AppXite subsidiary

GROSS MARGIN PRESSURE - Gross margin declined to 29.5% from 31.4% due to higher share of hardware in revenue mix

Company press release: ID:nWkr9NB20y

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
NOK 9.70 bln
NOK 8.96 bln (2 Analysts)
Q1 Net Income
NOK 389 mln
Q1 EBIT
Beat
NOK 476 mln
NOK 317.63 mln (3 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the it services & consulting peer group is "buy"

Wall Street's median 12-month price target for Atea ASA is NOK170.00, about 18.7% above its April 27 closing price of NOK143.20

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)