Sweden's Proact IT Q2 revenue, profit rise, helped by high prices
Sweden's Proact IT Q2 revenue, profit rise, helped by high prices
Overview
Sweden-based hybrid cloud provider's Q2 revenue rose 9.8% yr/yr
Adjusted EBITA for Q2 climbed 38.3% yr/yr
Profitability improved as cost-efficiency programme came into full effect
Outlook
Company did not provide specific guidance for the current or future periods in the press release
Result Drivers
COST-EFFICIENCY PROGRAMME - Co said profit improvement was driven by cost-efficiency programme coming into full effect
MARKET CONDITIONS - Co said market remained volatile, with high prices and extended lead times for memory components
CLOUD CONTRACTS - Co reported increase in new contracts for cloud services in the quarter
Company press release: ID:nMFN2m6mdR
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 1.29 bln |
|
Q2 EPS |
| SEK 2.47 |
|
Q2 Net Income |
| SEK 62 mln |
|
Q2 Adjusted EBITA |
| SEK 105 mln |
|
Q2 Adjusted EBITA Margin |
| 8.20% |
|
Analyst Coverage
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
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(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.)