Atea — Earnings Release 2010

Oct 21, 2010

ATEA

Press release

October 21, 2010

Atea reports revenue growth of 27.2%

Atea, the number one supplier of IT infrastructure products and services in the Nordic and Baltic region, today announced third quarter 2010 results with revenue of MNOK 3,558.4, up 27.2% in constant currency compared to Q3 2009. EBITDA ended at MNOK 122.9, up 14.2% versus last year and operating profit (EBIT) was MNOK 70.6 which is up 9.7% compared to Q3 2009.

While total revenue in Q3 increased by 27.2% in constant currency, hardware revenue increased as much as 36.5%, services was up by 12.7% and software was up by 12.0%.

The improvement in results is caused by strong revenue growth combined with continuous cost focus.

"I am in particular very pleased to see the continued growth in hardware revenue of 36.5%, in a hardware market that according to IDC is forecasted to grow by 6.8% in the full year 2010. This implies that Atea continues to gain substantial market shares and demonstrates that our eSHOP business model is the winning model in the market combined with our aggressive selling approach," says Claus Hougesen, CEO in Atea.

In Q3 2010 Atea announced the acquisition of Belle Balance A/S in Denmark. Belle Balance is a leading provider of flexible benefit programs and will strengthen Atea's "Free Choice"-concept in Denmark. The acquisition of Portal AB in Sweden, which is one of the strongest and fastest growing IT infrastructure companies in Sweden, was finalized in Q3.

Significant IT Infrastructure solutions, such as Unified Communications, Mobility, Virtualization, Cloud Solutions, Datacenter Solutions, Software Asset Management, Device Lifecycle Management, Print/Copy and Green IT, areas in which Atea has a strong foothold, will also be important growth areas going forward.

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.

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ATEA

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

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 4800 employees. Atea is present in 73 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