Proact: Fiscal 4Q21 Financial Results

(in SEK million)	4Q20	4Q21	FY20	FY21
Revenue	982.1	942.4	3,633	3,525
*Growth*		-4%		*-3%*
Profit after tax	40.1	31.0	132.3	117.2

Proact IT Group AB announced its financial results for FY21 ended in December 2021.

Strong cloud services revenues and good demand despite delivery delays

October – December 2021
• Revenues decreased by 4% to SEK 942 (982) million.
• Adjusted EBITA decreased by 14% and amounted to SEK 56.9 (66.4) million, corresponding to an adjusted EBITA margin of 6.0 (6.8)%. Items affecting comparability in the fourth quarter amounted to SEK -5.8 (-2.8) million attributable to acquisition related costs.
• Profit before tax amounted to SEK 37.4 (50.8) million.
• Profit after tax amounted to SEK 31.0 (40.1) million.
• Profit per share amounted to SEK 1.12 (1.43).
• New contracts relating to cloud services worth SEK 177 (142) million were contracted, an increase by 25%.
• Recurring revenues (revenues from cloud and support services) amounted to SEK 327 (289) million, corresponding to annualized rate of SEK 1,307 (1,157) million.
• During the quarter the acquisition of ahd in Germany was completed which strengthens offering in cloud services.

January – December 2021
• Revenues decreased by 3% to SEK 3,525 (3,633) million.
• Adjusted EBITA decreased by 7% and amounted to SEK 204.4 (219.4) million, corresponding to an adjusted EBITA margin of 5.8 (6.0)%. Items affecting comparability during 2021 amounted to SEK -6.9 (-2.8) million attributable to acquisition related costs.
• Profit before tax amounted to SEK 151.9 (167.7) million.
• Profit after tax amounted to SEK 117.2 (132.3) million.
• Profit per share amounted to SEK 4.27 (4.80).
• New contracts relating to cloud services worth SEK 402 (331) million were contracted, an increase by 22%.
• Recurring revenues (revenues from cloud and support services) amounted to SEK 1,194 (1,160) million,
• The board of directors proposes that the annual general meeting resolves on a dividend of SEK 1.50 (1.50) per share.