Corporate Governance

Presidents Statement

Profit before tax for the first quarter amounted to SEK 25.7 million, representing an increase of 47% compared with the first quarter last year. This means that the company has reported improved profitability compared with the corresponding quarter in the previous year for six quarters in a row. Furthermore, this result is the best ever seen for a first quarter in the 20 years in which the company has been trading, and a partial victory as we head towards the company’s margin targets. The company’s total revenues increased by 25% during the quarter, which is pleasing to see. All major Business Units are showing growth, which is another positive aspect. As economic market growth remains at 0-2% per year, this has allowed Proact to take market shares during the quarter.

The sale of system solutions has undergone positive development over the quarter, with growth of 31% compared with the same period last year. I can confirm that our excellent long-term work with existing and new customers has had a positive effect throughout the quarter. Besides good growth in system solution sales in general, we were also very pleased to see a number of major individual orders. These contracts are strategically important to us, and at the same time they are proof that our specialist expertise and market leading services are appreciated by our customers. A number of examples of transactions completed during the quarter are mentioned in the section entitled “Events during the quarter”. 

Total revenues for service operations amounted to SEK 229 million during the quarter, representing an increase of 15%. Total revenues for cloud services amounted to SEK 68 million during the quarter, representing an increase of 53%. The company’s contracted revenues are affected positively by the strategic transactions completed during the quarter and the positive development of service operations, thus helping to improve the company’s profitability. 

I am still of the opinion that pursuing our strategic choice of focusing on developing our offering in the field of storage, with associated consultancy and support services, as well as increasing our focus on integrated systems and private cloud services, is the right thing to do. Moreover, I can see that the in-house initiatives commenced last year in respect of fields such as innovation and sales have made us more competitive. Our ability to help our customers to minimise risks and reduce costs, and also to supply flexible IT services and products, places us in a strong position on the European market, thereby giving as good opportunities for continued positive development in terms of both earnings and profits.

Martin Ödmand

CEO and President


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