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May 23, 2015 12:00 AM ET

IT Services

Company Overview of Atea ASA

Company Overview

Atea ASA supplies information technology infrastructure products and services in the Nordic Countries and Baltic States. The company provides PCs, tablets, and smartphones; video and Web conferencing, IP telephony, AV solutions, unified communication solutions, and mobility and chat services; and communication and networking products. It also offers software and software asset management solutions; services in the areas of data centers, networks, collaboration, AV, project management, cabling, installation and roll-out projects, client management and operations, technical and hosting services, service desks, configuration and delivery services, and operation and management of applications. F...

Brynsalléen 2

Oslo,  0667

Norway

Founded in 1968

6,569 Employees

Phone:

47 22 09 50 00

Fax:

47 22 09 50 70

Key Executives for Atea ASA

Chief Executive Officer and President
Age: 52
Total Annual Compensation: $5.1M
Chief Financial Officer
Age: 44
Total Annual Compensation: $1.3M
Managing Director of Atea Sverige Ab (Sweden)
Age: 45
Total Annual Compensation: $2.1M
Managing Director of Atea A/S (Denmark)
Age: 49
Total Annual Compensation: $1.6M
Managing Director of Atea Oy (Finland)
Age: 46
Total Annual Compensation: $225.0K
Compensation as of Fiscal Year 2014.

Atea ASA Key Developments

Atea Appoints Tommy Degaard as Senior Vice President, Effective September 1, 2015

Tommy degaard is appointed as Senior Vice President in the Atea Group, where he will be responsible for Group functions and projects. Tommy degaard is joining Atea from Crayon AS, where he has been CEO since 2012. Tommy brings extensive experience from the IT industry, having also held positions as Director for Partners, SMB and Corporate Accounts at Microsoft Norway and Country Manager positions for both Navision Norway ASA and Damgaard ASA. Prior to this, Tommy has held leading positions also with IBM and Multisoft AS. Tommy will be part of the top management team and report to the CEO. He will start in his role on September 1, 2015. The Senior Vice President role that Tommy is entering into is new, so Tommy will not be replacing anyone in Atea.

Atea ASA Approves Distribution for 2014; Elects Saloume Djoudat as a Member of the Board of Directors

Atea ASA announced that at the annual general meeting held on April 23, 2015, the shareholders approved to distribute NOK 6.50 for each of the company's 104,415,724 shares as dividend for the accounting year 2014. NOK 3.25 of the dividend per share shall be distributed to the shareholders of the company as of the date of the general meeting. The shares shall be traded exclusive of dividend as of April 24, 2015. Payment of the dividend will take place within May 6, 2015. NOK 3.25 of the dividend per share shall be distributed to the shareholders of the company as of October 9, 2015. The shares shall be traded exclusive of dividend as of October 12, 2015. Payment of the dividend will take place within October 23, 2015. The shareholders also elected Saloume Djoudat as member of the board of directors for one year. Kristine M. Madsen has resigned from office, who was elected in 2014 for a term of two years.

Atea ASA Reports Group Earnings Results for the First Quarter of 2015

Atea ASA reported group earnings results for the first quarter of 2015. For the quarter, the company reported revenue of NOK 6,498 million, an increase of 10.4% compared with last year. EBITDA before option and restructuring expenses increased by 12.1% to NOK 202 million, up from NOK 180 million in the corresponding quarter last year. Cash flow from operations was seasonally strong with NOK 25 million, up from cash out flow from operations of NOK 149 million last year. EBITDA margin was 3.1% compared to 3.1% a year ago. EBIT was NOK 99.9 million compared to NOK 90.3 million a year ago, increased by 10.6%. Diluted earnings per share was NOK 0.65 compared to NOK 0.68 a year ago. Free cash flow was negative NOK 34.7 million compared to NOK 222.7 million a year ago. Profit before tax was NOK 79.1 million, compared with NOK 80.5 million last year. Due to the impact of currency changes on net financial items and due to higher tax expense, net profit after tax fell to NOK 68.4 million, compared with NOK 70.5 million last year. Capital expenditures were NOK 36.9 million compared to NOK 56.5 million a year ago.

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