System sales +22% vs ABGe, service +1% vs ABGe
Cloud order intake doubled y-o-y, est. to hold up well
Q3 details
Sales SEK 1,099m (12% vs ABG 983m), Adj. EBITA 78m (12% vs ABG 70m), Adj. EBITA margin 7.1% (ABG 7.1%). Organic sales growth 21% (vs ABG 8%), of which system sales grew 34% organically and service 6%.
Demand remains good and cloud order intake doubled y-o-y
Demand for Proact’s services has continued to be good during the quarter, and cloud order intake of SEK 158m (+111% y-o-y) shows signs of strengths. Contracts are typically rolled out over 3-5 years, which provides a good foundation for service revenue growth ahead. A better component shortage situation drove system deliveries in the quarter and resulted in the strong system sales growth, while the order backlog remains at higher than normal levels providing another source of growth ahead.
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