Q Interim Report January-March 2012

Transcription

1 Q Interim Report January-March

2 The tougher market conditions which we saw in the second half of 2011 and in Q4 in particular, have continued into I am therefore very pleased to see that we continue to gain market share. Claus Hougesen, CEO in Atea. Highlights Q Revenue of MNOK 4,819.2, up 3.7% y-o-y EBITDA of MNOK 162.7, up 1.0% y-o-y EBITDA margin of 3.4%, down from 3.5% y-o-y Acquisition of BMK in Lithuania and Nworks in Denmark Market update IDC s preliminary figures for Atea s addressable market (the Blue Box) show a decline of 1.7% in the Nordics in Q The preliminary figures show a hardware decline of 2.9%, a software growth of 0.1% and a consulting and services decline of 1.0%. In comparison with the preliminary figures for market decline in Q of 1.7%, Atea delivered an actual growth in constant currency of 5.1% and an organic growth of 3.7% in the Nordics. This demonstrates that Atea continues to gain market share. The financial turmoil in Europe has also impacted the Nordic IT infrastructure market and the tougher market conditions which Atea experienced in the second half of 2011, and in Q4 in particular, have continued into Financial review Q Group Group revenue in Q was up 3.7% from MNOK 4,647.9 in Q to MNOK 4,819.2 in Q Hardware revenue was flat, consulting and services revenue was up 5.2% and software revenue was up 15.2%. The organic growth represents 4.0% in constant currency; thus Atea continues gaining market shares. EBITDA in Q ended at MNOK 162.7, up 1.0% y-o-y, which represents a margin of 3.4%, slightly down from 3.5% in Q The gross margin was at the same level as Q1 2011, while total operating cost was organically up by 2.0% year over year. Norway Revenue in Q was MNOK 1,401.8 which was up by 9.4% compared with Q Product revenue was up 11.8%, while consulting and services revenue was up 3.0%. Organic revenue growth in Q1 was 5.2%. IDC prediction for annual 2012 growth y-o-y is 2.7%, thus Norway is continuing to gain market shares. EBITDA in Q ended at MNOK 51.6, up 11.9% compared with Q Product margins ended at 16.2% in Q1 2012, which was up by 1.5% compared with Q due to favourable product mix. Total operational expenses increased by 12.6% compared with the previous year. Organically, the total operational cost increased by 2.6%. The average organic increase in workforce in Q compared with Q was 1.9%. EBITDA margin in Q ended at 3.7% versus 3.6% last year. At the end of January, Atea AS entered into agreements with the Norwegian Labour and Welfare Administration (NAV) to deliver software and consulting services. The agreements are valid for 3 years, with an optional 2 years. Atea estimates the total value of the contracts at MNOK 70 over 5 years. Sweden Revenue reached MNOK 1,462.7 in Q1 2012, which was down 6.6% (3.8% in constant currency) compared with last year. Product revenue was down 7.3%, while consulting and services revenue was up 10.2% in constant currency. The reduction in product revenue of 7.3% during Q1 was mainly caused by reduced purchases from private customers within the banking, finance and telecom sector. Atea expects that the development of reduced hardware volumes will stabilize during the coming quarter and pick-up again during the second half of This is supported by planned deployment of school PCs in August/September and that several won projects will be started in the second half of IDC prediction for annual 2012 growth y-o-y is 2.6%, split between 2.4% on hardware, 4.6% on software and 1.8% on services. Preliminary IDC figures for Q show a decrease in hardware of 0.9%, an increase in software of 2.8% and an increase in consulting and services of 0.6%. Total market growth in Q is therefore 0.3%. The 2

3 expectation for full year market growth is hence skewed towards the second half of EBITDA in Q ended at MNOK 48.9 compared with MNOK 50.3 in Q Total gross margin ended at 27.1% for Q1 2012, up from 25.4% in Q1 2011, due to increased services share. Organically, total cost of operation was up 3.0% in constant currency compared with Q1 2011, mostly caused by an increase in workforce. EBITDA margin in Q1 was 3.3%, compared with 3.2% previous year. Atea Sverige AB has, together with four other suppliers, been chosen for a framework agreement with Kammarkollegiet in their procurement of clients in five out of six agreements. The five agreements that Atea has been chosen for have an estimated total annual value of MNOK 400 for one year, with three more optional years. Atea Sverige AB has, together with five other suppliers, signed a framework agreement with Gothenburg city and the municipalities surrounding Gothenburg to deliver IT products and services. The agreement is valid for two years, with an optional two years. The agreement has an estimated total value of approximately MNOK 170 per year. Denmark Revenue in Q ended at MNOK 1,309.9, up 5.1% (8.1% in constant currency) compared with Q Product revenue was up 8.6%, while consulting and services revenue was up 6.3% in constant currency. Organically, revenue was up 7.0% in constant currency. IDC prediction for annual 2012 growth y-o-y is 0.7%, thus Denmark is continuing to gain market shares. EBITDA in Q ended at MNOK 56.5, up from MNOK 55.8 in Q Organically, operational cost shows an increase of 3.7% in constant currency compared to Q1 2011, mainly caused by an increase in personnel expenses. The EBITDA margin ended at 4.3% compared with 4.5% in Q On 27 March Atea A/S entered into agreement to acquire Nworks A/S, which is a leading provider of services within the business area of IT networks. The company has 40 employees, was established in 2000 and is headquartered in Copenhagen with a small office in Aarhus. The company is expected to deliver revenue of MNOK 64 and EBITDA of MNOK 19 in The estimated enterprise value is MNOK 70. Finland Revenue in Finland in Q ended at MNOK 514.8, up 13.3% (16.8% in constant currency) compared with Q Hardware revenue was down 18.4%, while software revenue was up 62.7% in constant currency. Total product revenue was therefore up 15.9%, while consulting and services revenue was up 27.7% in constant currency. Organically, revenue was up 16.3% in constant currency, mainly caused by the strong increase from software sales to the public sector. IDC prediction for annual 2012 growth y-o-y is 1.4%. The overall picture is that Finland has been losing market share within hardware and has been gaining market share within software and services. EBITDA in Q ended at MNOK 0.9, compared with MNOK 8.3 in Q The Q reduction in results versus last year is mainly reflecting a reduction in gross margin on hardware. The main reason is overstatement of booked inventory related to the implementation of a new ERP system in Finland. Due to this issue, Atea expects an EBITDA of MNOK 24 for the full year 2012, down from MNOK 48 in The Baltics Revenue in Q was MNOK 136.9, which was up 50.9% (55.6% in constant currency) from Q Organic growth in constant currency was 15.9%, mainly caused by an EU project for the Ministry of Education. EBITDA in Q ended at MNOK 6.9, compared with MNOK 3.2 in Q Organically, operational cost shows a decrease of 6.1% in constant currency compared to Q1 2011, caused by synergies from an acquired company. EBITDA margin ended at 5.0%, up from 3.5% in Q On March 14, Atea Baltic UAB entered into agreement to acquire UAB BMK, which is the leading IT infrastructure company in Lithuania within the business areas of AV and print/copy. The acquisition will strengthen Atea within the product and service portfolio in the Baltics and Lithuania in particular, as Atea is not currently present in the business areas of AV and print/copy in the Baltics. The company has 71 highly skilled employees and with headquarter in Vilnius. The acquired company is expected to deliver revenue of MNOK 80 and EBITDA of MNOK 5 in The estimated enterprise value is MNOK 18. 3

4 Outlook IDC s forecast for 2012 for Atea s addressable market shows a growth of 1.4%. The full year market growth expectation of 1.4% is expected to be skewed towards the second half of the year where the growth is expected to be 2.4%. In the first half of the year a marginal growth of only 0.4% is expected. IDC believes that growth in the hardware market will be driven primarily by smart phones and tablets, and growth in the software markets will be driven primarily by the deployment of large Windows 7 projects. A strong market trend is outsourcing of internal IT functions to external partners, and outsourcing of client management in particular. This trend is boosted by the increasing complexity in the client environment as a whole. In Q Atea signed several new long-term service contracts. This trend is expected to continue. Over the last years, Atea has invested in highgrowth areas such as Collaboration, Mobility, Virtualization, Software Asset Management, Windows 7, Consumerization and Green IT. Leveraging on these investments in high growth areas gives comfort that Atea can continue to grow at a pace which is faster than the market in general. On 23 November 2011, Atea launched the strategy Together Towards the Top, which sets the scene for Atea s development towards The target in the new strategy is to increase revenue to NOK 30 billion and EBITDA to NOK 1.8 billion by The plan has been well received by employees, key vendors and customers and the implementation of initiatives has started according to plan. During 2012, Atea will continue the implementation of key initiatives from the new strategy. These key initiatives include increasing services revenue and in particular contracted services revenue, dedicated sales focus on mid-market and international customer groups, together with a continued focus on operational excellence. On this basis, it is expected that Atea will win further market shares and increase the profitability in the coming years. Equity and cash flow Shareholders equity as of 31 March 2012 was MNOK 3,929.9 corresponding to an equity ratio of 46.1%, up from 43.1% compared to 31 March The Group generated an operational cash flow of MNOK in Q1 2012, which was MNOK below corresponding period last year. The Q operational cash flow was record strong with more than one billion and has affected the first quarter of 2012 somewhat more negatively than corresponding quarter last year. In addition, the inventory has increased by MNOK 99.4 through the quarter due to a build-up related to customerspecific projects. Norway, in particular, has in addition experienced a negative Easter effect on accounts receivable, as a number of customer payments due end of March where postponed and instead paid in April, after Easter. The dedicated focus and hard work to optimise working capital continues with full strength. Despite a somewhat more challenging start to the year than in 2011, a strong operational cash flow for the full year 2012 is still expected. The working capital ratio as of 31 March 2012 was 2.9% which is up from 2.2% as of 31 March During Q capital expenditures were MNOK These are maintenance investments related to hosting centres, Atea s internal ONE infrastructure project, ERP development, equipment to employees and other office/furniture related investments. Payments regarding acquisitions were MNOK The acquisition payments were related to the purchase of UAB BMK in Lithuania, Nworks A/S in Denmark and the remaining 9.9% non-controlling interests in the Atea Finance companies. At the end of Q1 2012, the Group had a net financial position of MNOK , down from MNOK end of Q Cash reserves including unutilised credit facilities as of 31 March 2012 were MNOK 1,

5 Shares Atea ASA had 8,751 shareholders as of 31 March 2012 compared to 8,743 as of 31 December The 10 largest shareholders as of 31 March 2012 were: Main Shareholders * Shares % Systemintegration APS ** ,51 % State Street Bank Ref: OM80 *** ,15 % Bank of New York Mellon *** ,86 % JPMorgan Chase Bank *** ,70 % State Street Bank Ref: OM06 *** ,16 % JPMorgan Chase Bank *** ,09 % SHB Stockholm Client *** ,92 % State Street Bank Ref: OM04 *** ,71 % VPF Nordea Kapital ,52 % Folketrygdfondet ,50 % Other ,87 % Total number of shares ,00 % * Source: Verdipapirsentralen ** Includes shares held by Ib Kunøe *** Includes client nominee accounts As of 31 March 2012, Chairman Ib Kunøe and close associates control a total of 28.9% of the shares, including the shares held in Systemintegration ApS. Key figures Q1 Q1 Full year Earnings per share (NOK) * 0,80 0,89 5,96 Diluted earnings per share, adj. for effect of option progr. (NOK) * 0,79 0,87 5,90 Weighted average number of shares * Weighted average number of diluted shares * Mar Mar Dec 2011 Number of shares end of period * Net financial position (MNOK) -299,7-503,4 283,2 Cash reserve (MNOK) 1 191, , ,0 Working capital (MNOK) 550,0 407,8-22,1 Working capital ratio 2,9 % 2,2 % -0,1 % Equity ratio 46,1 % 43,1 % 38,0 % Number of employees * Excluding Atea ASA's number of own shares (73,601 end of Q1 2012). 5

6 Consolidated statement of comprehensive income Q1 Q1 Full Year (amounts in MNOK) Note Operating revenue , , ,8 Goods consumed 3 576, , ,9 Employee benefits expense excl. share based comp 885,9 825, ,2 Other operating expenses 194,1 193,7 762,6 EBITDA before share based compensation 2 162,7 161,1 871,1 Share based compensation 6,3 3,9 13,3 Expenses/income related to acquisition 0,4 0,7 0,0 EBITDA 156,0 156,5 857,7 Depreciation 54,2 46,8 206,4 Operating profit/(loss) (EBIT) 2 101,8 109,7 651,3 Financial income 17,1 24,5 73,0 Financial expenses 22,2 33,0 111,7 Net financial items -5,2-8,5-38,8 Profit/(loss) before tax, continued operations 96,6 101,2 612,6 Tax on continued operations 17,1 12,8 11,7 Profit/(loss) for the period from cont. operations 79,5 88,4 600,8 Other comprehensive income Currency translation differences -46,4 11,3-7,6 Forward contracts - cash flow hedging -5,7-3,3 5,2 Income tax relating to components of other comprehensive income 12,4-1,0 5,7 Other comprehensive income -39,7 7,1 3,3 Total comprehensive income for the period 39,9 95,5 604,1 Of which non-controlling interests 1,0 0,6 7,8 6

7 Consolidated statement of financial position (amounts in MNOK) Note 31 Mar Mar Dec 2011 ASSETS Property, plant and equipment 214,0 162,6 195,9 Deferred tax assets 503,2 470,0 503,2 Goodwill 2 809, , ,8 Other intangible assets 323,1 335,1 334,8 Retirement benefit plans 0,0 4,1 0,0 Other long-term receivables 3 83,7 43,2 33,4 Non-current assets 3 933, , ,0 Inventories 667,0 614,7 570,0 Trade receivables 3 101, , ,4 Other receivables 675,3 564,4 633,9 Other financial assets 0,1 16,6 12,9 Cash and cash equivalents 144,8 167,7 485,4 Current assets 4 588, , ,6 Total assets 8 522, , ,7 EQUITY AND LIABILITIES Share capital and premium , , ,6 Other unrecognised reserves -39,7 3,7-0,1 Retained earnings 2 229, , ,4 Equity attributable to shareholder of Atea ASA 3 929, , ,9 Non-controlling interests 0,0 0,5 3,5 Equity 3 929, , ,4 Interest-bearing long-term liabilities 22,1 14,0 14,5 Other long-term liabilities 53,9 64,1 66,0 Retirement benefit obligations 5,1 16,8 7,3 Deferred tax liabilities 167,8 176,4 173,0 Non-current liabilities 248,9 271,3 260,7 Trade payables 2 203, , ,3 Interest-bearing current liabilities 449,5 657,5 218,2 VAT, taxes and government fees 376,0 369,8 594,8 Provisions 63,2 100,4 132,3 Other current liabilities 1 250, , ,8 Other financial liabilities 0,7 1,2 0,0 Current liabilities 4 343, , ,5 Total liabilities 4 592, , ,3 Total equity and liabilities 8 522, , ,7 7

8 Consolidated statement of changes in equity (amounts in MNOK) 31 Mar Mar 2011 Equity at start of period 3 885, ,2 Currency translation differences -35,5 10,3 Forw ard contracts - cash flow hedging -4,1-3,3 Other comprehensive income -39,7 7,1 Profit/loss for the year 79,5 88,4 Total recognised incom e/expense for the year 39,8 95,5 Employee share-option schemes 2,7 4,0 Issue of share capital 11,2 23,9 Non-controlling interests from acquistions -9,2-13,1 Equity at end of period 3 929, ,5 Consolidated statement of cash flow Q1 Q1 (amounts in MNOK) Cash earnings 182,3 137,6 Changes in w ork. cap./accr. items -603,8-207,7 Cash flow from operations -421,5-70,1 Capital expenditures -50,7-31,5 Purch./sale of subs./assoc./investm. -64,1-53,4 Cash flow from investments -114,8-84,9 Change in debt 190,0-118,0 Equity transactions 11,2 23,9 Cash flow from financing 201,2-94,1 Change in cash -335,1-249,1 Cash, start of period 485,4 404,0 Cash, end of period 144,8 157,7 Currency effects on cash and cash equivalents -5,6 2,7 8

9 Notes NOTE 1 General information and accounting policies Atea (the Group) consists of Atea ASA (the Company) and its subsidiaries. Atea ASA is a limited company incorporated and domiciled in Norway whose shares are listed on the Oslo Stock Exchange. These condensed consolidated interim financial statements for three months ended 31 March 2012 have been prepared in accordance with International Financial Reporting Standard (IFRS), IAS 34 Interim Financial Reporting. The condensed consolidated interim financial statements do not include all information and disclosures required in the annual financial statement, and should be read in accordance with the Group s Annual Report for 2011, which has been prepared according to IFRS. The accounting policies applied by the Group in these condensed consolidated interim financial statements are the same as those applied by the Group in its consolidated financial statements for the year ended 31 December Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss. The Board confirms that these interim financial statements have been prepared on a going concern basis. This interim condensed consolidated financial information has not been subject to audit or review. As a result of rounding differences numbers or percentages may not add up to the total. The figures in the financial statement and tables are in Norwegian format, which means that comma has been used instead of a period sign in the decimal positions. In the text, comma has been used as 1000 separator, while the period sign has been used in the decimal position. NOTE 2 Operating segment information Atea is primarily a complete provider of hardware and software products, as well as related consulting. The Group has operations in Norway, Sweden, Denmark, Finland and the Baltics. For management purposes, the Group is organised into these geographical areas. The performances in these geographical areas are evaluated on a regular basis by Atea s senior management. In addition the Group operates Shared Services: Atea Logistics and Atea Services & Software. Transfer prices between operating segments are on arm s length basis in a manner similar to transactions with third parties. Group costs represent expenses related to group and holding functions performed by management and other employees of Atea ASA. 9

10 Revenue Q1 Q1 Full Year (amounts in MNOK) % change 2011 Norway 1 401, ,9 9,4% 5 809,3 Sweden 1 462, ,4-6,6% 6 515,9 Denmark 1 309, ,1 5,1% 5 766,2 Finland 514,8 454,5 13,3% 1 717,6 The Baltics 136,9 90,7 50,9% 436,1 Group Shared Services 802,3 828,5-3,2% 3 635,6 Eliminations * -809,2-818, ,0 Atea Group 4 819, ,9 3,7% ,8 EBITDA Q1 Q1 Full Year (amounts in MNOK) % change 2011 Norway 51,6 46,1 11,9% 257,8 Sweden 48,9 50,3-2,8% 261,0 Denmark 56,5 55,8 1,2% 285,0 Finland 0,9 8,3-89,8% 47,9 The Baltics 6,9 3,2 114,6% 20,0 Group Shared Services 6,6 4,6 43,7% 31,0 Group cost -8,7-7,3-19,4% -31,7 EBITDA 162,7 161,1 1,0% 871,1 EBITDA margin (%) 3,4% 3,5% 4,3% EBIT Q1 Q1 Full Year (amounts in MNOK) % change 2011 Norway 36,6 32,7 12,0% 205,2 Sweden 38,8 43,7-11,2% 237,0 Denmark 30,4 32,2-5,5% 183,5 Finland -3,7 5,2 28,5 The Baltics 4,1-0,0 5,8 Group Shared Services 5,2 3,7 39,3% 27,0 Group cost -9,6-7,8-23,0% -35,5 Operating profit/loss (EBIT) 101,8 109,7-7,2% 651,3 Financial income 17,1 24,5-30,3% 73,0 Financial expenses 22,2 33,0-32,8% 111,7 Profit/(loss) before tax, continued operations 96,6 101,2-4,6% 612,6 Revenue and contribution/margin Q1 Q1 Full Year (amounts in MNOK) % change 2011 Product revenue 3 772, ,5 3,3% ,4 Consulting revenue 1 046,2 994,3 5,2% 4 125,7 Total revenue 4 819, ,9 3,7% ,8 Gross contribution 1 242, ,0 5,3% 4 854,9 Product margin 13,9% 13,9% 13,3% Consulting and services margin 68,7% 67,5% 65,8% Gross margin 25,8% 25,4% 24,0% Quarterly revenue and contribution/margin Q1 Q2 Q3 Q4 Q1 (amounts in MNOK) Product revenue 3 653, , , , ,9 Consulting and services revenue 994, ,6 906, , ,2 Total revenue 4 647, , , , ,2 Gross contribution 1 180, , , , ,7 Product margin 13,9% 13,7% 13,5% 12,4% 13,9% Consulting and services margin 67,5% 67,3% 64,7% 63,8% 68,7% Gross margin 25,4% 24,9% 24,8% 21,8% 25,8% Note: All EBITDA figures are before share-based compensation and expenses/income related to acquisition. *Most of Atea s internal sales are related to Group Shared Services, which consists of Atea Logistics and Atea Services & Software. 10

11 NOTE 3 Business combinations The Group has acquired two companies during the first quarter UAB BMK The acquisition will strengthen Atea within product and service portfolio in the Baltics and Lithuania in particular, as Atea is not currently present within the business areas of AV and print/copy in the Baltics. Nworks A/S The acquisition will strengthen Atea's IT network business in Denmark as Nworks complements Atea's current products within this business area. The business combination of Nworks was effected immediately before the board approval of the quarterly report for Q Therefore it has not been possible to provide information related to fair value of acquired assets in the balance sheet, net assets acquired and net cash payment for the acquisition before the Q report was approved. MNOK 54.9 of the total estimated enterprise value of MNOK 69.6 has been entered as Other long term receivable in the balance sheet as at 31 March Goodwill from acquisition The goodwill arises from a number of factors, such as expected synergies through combining a highly skilled workforce with obtaining market power, buying power, cost savings etc. The fair values have been determined on provisional basis because new information may occur. 11

12 Breakdown of the acquired net assets and goodwill in 2012 is as follows: (amounts in MNOK) BMK UAB Acquisition date 14 Mar 2012 Country Lithuania Voting rights/ownership interest 100,00% Acquisition cost: Consideration 1) 24,0 Adjustment of cost price - Liabilities assumed - Direct costs associated with acquisitions - Fair value of shares issued - Total acquisition cost 24,0 Carrying value of equity (see table below) 12,0 Identification of excess value: Contracts and customer relationships 10,7 Computer software and rights - Fair value of tangible fixed assets - Deferred tax -1,6 Net excess value 9,1 Fair value of net assets acquired, excluding goodwill 21,1 Controlling ownership interests 21,1 Non-controlling ownership interest - Goodwill 1) 2,9 1) Consideration that is dependent on future results is recognised as an obligation based on the fair value at the time of acqusition. Assets and liabilities related to the acquisitions in 2012 are as follows: (amounts in MNOK) Computer software and rights BMK UAB 0,3 Property, plant and equipment 12,3 Inventories 6,7 Advances to suppliers 1,6 Trade receivables 20,3 Other current receivables and investments 0,1 Cash and cash equvalents 1,4 Deferred tax liabilities -0,1 Other long-term liabilities and provisions -0,1 Interest-bearing long-term liabilities -3,1 Trade payables -21,3 Short terms Interest-bearing leasing/borrowing liabilities -1,9 Other current liabilities and provisions -4,0 Net assets acquired 12,0 Net cash payments in connection with the acquisitions are as follows: (amounts in MNOK) Considerations and costs in cash and cash equivalents BMK UAB 24,0 Cash and cash equivalents in acquired companies -1,4 Net cash payments for the acquisitions 22,6 If the acquisitions had taken place on 1 January 2012, the Group's calculated proforma results for 2012 and 2011 would be as follows: (amounts in MNOK) Operating revenue 4 835, ,6 Operating profit/loss (EBIT) 101,5 110,1 12

13 NOTE 4 Related parties Note 24 in the Annual Report for 2011 provides details of related party transactions. From January 2012 Atea has entered into an agreement to lease premises from Thrust IT A/S in Denmark. Thrust IT A/S is controlled by Ib Kunøe who is the Board Chairman and the largest shareholder of Atea ASA through the company Systemintegration ApS. The rent for 2012 is MNOK 0.8 and will be adjusted according to consumer price index the following years. The agreement can be cancelled by both parties from 1 January NOTE 5 Paid-in equity Number of shares Issued Treasury shares Share capital Issued Treasury shares Share premium Total paid-in equity (Whole figures) (Whole figures) (MNOK) (MNOK) (MNOK) (MNOK) As of 1 January ,5-0,7 730, ,6 Issue of Share capital *) ,2-7,9 11,2 As of 31 March ,7-0,7 738, ,8 *) Issue of Share capital is related to Share options for the Management and selected employees. 13

14 Holding Atea ASA Brynsalleen 2 Box 6472 Etterstad NO-0605 Oslo Tel: Org.no investor@atea.com Norway Atea AS Brynsalleen 2 Box 6472 Etterstad NO-0605 Oslo Tel: Org.no info@atea.no Sweden Atea AB Kronborgsgränd 1 Box 18 SE Kista Tel: +46 (0) Org.no info@atea.se Denmark Atea A/S Lautrupvang 6 DK-2750 Ballerup Tel: Org.no info@atea.dk Finland Atea Oy PL 39 FI Vantaa Tel: (0) Org.no customercare@atea.fi Lithuania Atea UAB Laisves pr. 3 LT Vilnius Tel: Org.no info@atea.lt Latvia Atea SIA Unijas iela 11a LV-1039 Riga Tel: Org.no info@atea.lv Estonia Atea OÜ Tondi 17 EE Tallinn Tel: Org.no info@atea.ee Atea Logistics AB Smedjegatan 12 Box 159 SE Växjö Tel: +46 (0) Org.no customer.care@atea.se Atea Spintop AB Ekelundsgatan 4 SE Göteborg Tel Org.no info@ateaspintop.se Atea Services & Software SIA Skanstes Street 50-K5 LV-1013 Riga Tel: Org.no inforiga@atea.com