Atea — Earnings Release 2010

Apr 29, 2010

ATEA

Press release

April 29, 2010

Atea increases operating profit (EBIT) with 61.3%

Atea, the number one supplier of IT infrastructure products and services in the Nordic and Baltic region, today announced first quarter 2010 results with revenue of MNOK 3,570.9, up 6.9% in constant currency compared to Q1 2009. EBITDA ended at MNOK 119.7, up 31.3% versus last year and operating profit (EBIT) was MNOK 76.1 which is up 61.3% compared to Q1 2009.

While total revenue in Q1 increased by 6.9% in constant currency, product revenue increased as much as 9.6% and services revenue fell by 2.2%. Reduction in services revenue reflects lower service activity in January/February and 80 less consultants.

The significant improvement in results is caused by revenue growth, improvement in product margins, combined with continuous cost focus.

"In a market that, according to IDC, is expected to grow by 1.7% in 2010, Atea continues to gain market shares. I am pleased to see that we report revenue growth and in particular I am glad to see the increase in product revenue," says Claus Hougesen, CEO in Atea.

Atea acquired in Q1 2010 four Office print/copy companies in Sweden and Palnet Oy in Finland, a leading company within network and data security solutions. On April 26, 2010 Atea acquired Impact Europe's subsidiaries in Sweden and Norway. Impact Europe is a leading Tandberg videoconferencing reseller and AV solutions provider.

Significant technology trends, such as Unified Communications, mobile infrastructure solutions, Virtualization, Software Asset management, Device Lifecycle Management, Windows 7, print/copy and Green It, areas of which Atea has a strong foothold, will also be important growth areas.

With continuous high ambitions, the goal is to deliver further growth and profit both organically and through acquisitions. The attacking approach continues. Atea has the necessary financial strength and focus to play an important role in the ongoing market consolidation.

The target is to achieve operating revenues of NOK 20 billion and EBITDA of NOK 1 billion in 2011 based on country targets in local currencies.

The quarterly report and presentation is available at www.atea.com/reports
The press conference is available through webcast at www.atea.com/webcast
The Stock Exchange Announcement is available at www.atea.com/ose

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ATEA

For further information, please contact:
Claus Hougesen, CEO Atea ASA, mobile + 45 3078 1200
Rune Falstad, CFO Atea ASA, mobile + 47 906 14 482

About Atea

Atea is the leading Nordic and Baltic supplier of IT infrastructure with approximately 4600 employees. Atea is present in 72 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea has annual revenue of approximately NOK 15 billion and is listed on Oslo Stock Exchange.
www.atea.com