Atea Q2 and H1 top line jumps double-digits

Rapid sales across all countries and hardware demand fuelled the firm’s results

Norway-HQ IT solutions provider Atea reported double-digit revenue rise in Q2 FY26, driven by increasing hardware and software demand.

Revenue leapt 14.1 per cent year-on-year to NOK 10.4bn (£796.9m) in Q2.

Hardware remained the firm’s most important growth area, rising 21.2 per cent, with higher sales across all major categories, including datacentre and networking solutions.

Software and cloud sales increased by 11.7 per cent, driven by cybersecurity and productivity applications.

On the other hand, services gross sales fell by 4.7 per cent from last year.

EBIT jumped 19.2 per cent to NOK 320m and gross profit increased 3.5 per cent to NOK 2.9bn.

This momentum follows a strong Q1, when revenue increased 12.9 per cent to NOK 9.65bn, driven by demand across hardware, infrastructure, AI and security.

For H1 FY26, revenue soared 13.5 per cent to NOK 20.1bn (£1.5bn) while EBIT climbed 45 per cent to NOK 796m and gross profit grew 4.7 per cent to NOK 5.7bn.

Product revenue jumped to NOK 15.3bn in H1 from NOK 12.8bn at the same period last year, while services revenue slipped to NOK 4.8bn from NOK 4.9bn.

“Half of the hardware growth of 21 per cent comes from the supply chain situation and the price situation,” said CEO Steinar Sønsteby during the company’s earnings call.

Services, meanwhile, remained broadly flat in constant currency.

“Not exactly what we expected six months ago,” Sønsteby added, highlighting that customers had prioritised hardware purchases as prices increased.

Atea sees momentum across all geographies

Sweden remained the reseller’s largest market, with H1 top line rising 21.1 per cent to SEK 7.77bn and EBIT increasing 11.1 per cent to SEK 343m.

Norway posted H1 earnings of NOK 4.99bn, up 18 per cent, while Denmark generated DKK 2.93bn, with EBIT almost doubling to DKK 21.3m.

Finland increased H1 turnover 7.1 per cent to €166.4m, while the Baltics grew revenue 9.2 per cent to €87.7m.

“Our financial performance was driven by rapid sales growth across all countries in the second quarter of 2026,” CFO Robert Giori noted during the earnings call.

Sønsteby explained that Denmark’s improving performance followed changes to the company’s sales organisation and account management strategy, which had accelerated growth in the private sector.

Atea’s outlook

Despite warning that market visibility remains limited, Sønsteby said the company expects strong demand to continue through H2, supported by what the firm referred to as record backlog levels.

“Visibility is difficult because the world changes and it certainly changes almost week by week, but we see very clearly that Q3 will be more of the same and we expect that to be the case also for the quarters to come,” he said.