Proact: Fiscal 3Q13 Financial Results

Here are the financial results of Proact Group for the period January – September 2013

• Income fell by 9% to SEK 1,568 (1,721) million, or by 5% when adjusted for currency effects and disposals of businesses.
• EBITDA fell by 17% to SEK 87.5 (105.7) million.
• Profit before tax fell by 53% to SEK 20.7 (43.8) million.
• Profit after tax fell by 51% to SEK 15.1 (31.1) million.
• Earnings per share fell to SEK 1.11 (2.88).
• Return on equity over the last 12 months amounted to 11.7 (18.5)%.
• Non-recurring items attributable to reduction of the overall cost structure within the company have adversely affected operating profit in the sum of SEK 18.8 million. Intangible assets relating to the business in the Czech Republic have also been written down by SEK 5.2 million. Operating profit has been affected positively by SEK 9.2 million on account of disposals of businesses.

The third quarter in brief

• Income fell by 9% to SEK 445 (487) million, adjusted for currency effects and disposals of businesses by 6%.
• EBITDA fell by 9% to SEK 33.9 (37.3) million.
• Profit before tax fell by 17% to SEK 13.2 (15.9) million.
• Profit after tax fell by 17% to SEK 9.1 (10.9) million.
• Earnings per share fell to SEK 0.89 (1.16).

The company has more than 3,500 projects behind it, along with vast information volumes managed at the Proact data centre.

The Proact Group has more than 640 employees and conducts business in Belgium, Denmark, Estonia, Finland, Latvia, Lithuania, the Netherlands, Norway, Slovakia, Spain, the United Kingdom, Sweden and the Czech Republic.

Proact was founded in 1994. Proact IT Group AB, its parent company, has been listed on the Nasdaq OMX Stockholm since 1999 under the symbol PACT.