Atea (ATEA) Q4 2025 earnings summary

Executive summary

• Q4 2025 gross sales reached NOK 17.8 billion, up 7.8% year-over-year, with EBIT up 23.7% and net profit up 35.7% to NOK 333 million.

• Full-year 2025 gross sales were NOK 60.2 billion, up 11.7%, with EBIT before restructuring at NOK 1,385 million and net profit at NOK 878 million, up 14.4%.

• Strong profit growth was driven by higher sales, improved gross margins, and controlled operating expenses.

• Major investments and contracts in defense, NATO, and healthcare sectors supported future growth.

• Board proposes increasing annual dividend to NOK 7.50 per share for 2026, paid in two installments.

Financial highlights

• Q4 2025 net revenue (IFRS) was NOK 11.3 billion, up 6.1% year-over-year; gross profit rose 9.0% to NOK 3.1 billion, with gross margin at 27.4%.

• Q4 EBIT before restructuring was NOK 488 million, up 23.7%; net profit after tax was NOK 333 million, up 35.7%.

• Operating cash flow in Q4 was NOK 2.0 billion, with a positive net cash balance of NOK 975 million at year-end.

• Net debt/EBITDA ratio at -0.5, well within loan covenants.

• Adjusted equity ratio at year-end was 22.9%; earnings per share for 2025 was NOK 7.87.

Outlook and guidance

• 2026 revenue growth expected in the mid-single digits, with continued EBIT margin expansion and strong order backlog.

• Price increases in hardware expected to persist, with ongoing supply chain and component shortages impacting pricing and delivery.

• Guidance will be updated as supply chain conditions evolve; gain of approximately EUR 13 million from AppXite sale expected in Q1 2026.

• Dividend proposed to increase to NOK 7.5 per share, paid in two installments.