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Atea ASA (MKL) Q3 2026 Earnings Report

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DE:MKL Q3 2026 EPS Results

Actual EPS
EUR 0.24
Consensus EPS
EUR 0.24
Beat/Miss
Beat by +EUR 0.01
One Year Ago EPS
EUR 0.19

DE:MKL Q3 2026 Revenue Results

Actual Revenue
EUR 955.19M
Expected Revenue
EUR 1.26B
Beat/Miss
Missed by -EUR 302.65M
YoY Revenue Growth
+16.92%

Earnings Announcement Details

Quarter
Q3 2026
Date
10/22/2026
Time
Before Open
Conference Call
Thursday, October 22, 2026
DE:MKL Upcoming Earnings

Atea ASA's next earnings date is estimated for February 9, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

DE:MKL Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Oct 22, 2026|% Change Since:5.87%|
Earnings Call Sentiment|Positive

The call was strongly positive. Atea reported broad-based double-digit sales growth, significant EBIT and net profit increases, strong year-to-date performance, expanding defense and AI-related demand, improving efficiency, a strong balance sheet and positive 2027 expectations. The main challenges were lower gross margin from the hardware mix, currency pressure, lower year-over-year operating cash flow, continued hardware price inflation and an expected moderation in Q4 constant-currency growth.

Company Guidance

For Q4, Atea does not expect to grow in constant currency as fast as it has for the first 3 quarters, but does expect growth in gross sales; full-year EBIT will land in the interval between NOK 1,710 million and NOK 1,745 million. In 2027, management feels very confident it will keep on growing and scaling, expects to continue reducing inventory levels through year-end, and expects a strong operating cash flow in the fourth quarter of 2026, supported by further inventory reductions and seasonal improvements in working capital. Hardware price increases are expected to continue for the next 3 to 5 years at least, and expectations are that Denmark will double EBIT in 2027 compared to 2026.

  • Strong Q3 Financial PerformanceQ3 gross sales were NOK 13.9 billion, up 21.7% in constant currency and 12.6% reported. EBIT increased 16.5% to NOK 405 million, while net profit rose 23.4% to NOK 279 million, described as almost 24% by management.
  • Strong Hardware and Data Center DemandHardware sales increased 25.0%, representing about 35% growth in constant currency, driven by very strong demand for data center equipment, including servers, storage and networking solutions.
  • Software, Cloud and Services Growth in Constant CurrencySoftware and Cloud sales increased 3.3% in reported currency and about 12% in constant currency, based on higher sales of data center and security solutions. Services sales fell 1.9% in Norwegian kroner but grew almost 6% in constant currency, mainly due to increased product support services.
  • Operating Efficiency and Profit ScalingOperating expenses fell 0.3% to NOK 2.2 billion, while employee numbers remained in line with last year and declined sequentially from the prior quarter. Management said efficiency is improving through internal consolidation, systems investments and AI-driven automation. With strong sales growth and flat operating expenses, EBIT increased 16.5%.
  • Higher Net Revenue and Gross ProfitIFRS net revenue increased 16.9% to NOK 9.9 billion. Gross profit increased to NOK 2.6 billion from NOK 2.5 billion last year.
  • Broad-Based Country GrowthAtea reported double-digit sales growth across all countries in the third quarter, driven primarily by very strong demand for data center solutions and higher hardware prices.
  • Norway PerformanceNorwegian gross sales increased 16.2% to NOK 3.6 billion, while EBIT grew 14.6% to NOK 141 million.
  • Sweden PerformanceSwedish gross sales grew 23.6% to SEK 5.6 billion, and EBIT increased 13.0% to SEK 174 million.
  • Denmark Performance and Restructuring ProgressDanish gross sales increased 18.1% to DKK 2.1 billion, while EBIT grew 17.8% to DKK 18 million. Management said Denmark has recorded EBIT growth quarter-over-quarter and year-over-year for five consecutive quarters and has moved from survival mode to investment mode.
  • Finland PerformanceFinnish gross sales increased 12.9% to EUR 108 million, while EBIT rose 50.5% to EUR 2.5 million.
  • Baltics Sales GrowthBaltic gross sales increased 35.9% to EUR 63 million.
  • Improved Group Functions ResultAtea Group Functions reported an operating profit of NOK 14 million compared with an expense of NOK 8 million last year. Management attributed the improvement to significantly higher profitability in Atea Logistics from increased hardware shipment volumes.
  • Inventory Reduction and Expected Q4 Cash Flow ImprovementAtea reduced inventory levels by over NOK 400 million in Q3 and expects to continue reducing inventory through year-end. Management expects strong operating cash flow in Q4 2026, supported by further inventory reductions and seasonal improvements in working capital.
  • Strong Balance Sheet and Debt CapacityAt the end of Q3, net debt as defined by Atea's loan covenants was NOK 1.3 billion, corresponding to a net debt-to-EBITDA ratio of 0.6. Atea also reported a net debt balance of NOK 4.8 billion, below the maximum allowed by its loan covenants, and said it has significant additional debt capacity.
  • Defense Sector ExpansionDefense-sector sales grew almost 40% in constant currency in Q3. Atea said it has taken a significant position with national defense and NATO and will supply NATO with desktops as a service through its Danish subsidiary during the next couple of months and the next handful of years.
  • AI-Driven Data Center Demand and Internal EfficiencyManagement said AI is creating real demand among Nordic and Baltic customers, with much of the data center and core networking growth coming from early or pre-investments by large customers, mostly public central governments, preparing for or beginning to use AI. Management also said revenue has grown more than 30% over the last two or three years with the same number of employees, and that AI is having a meaningful impact on Atea's efficiency.
  • Growing IT Security and Sovereignty OpportunityManagement said IT security and data protection are driving a shift toward platform-level solutions and broader system upgrades rather than single software patches. The company also expects sovereignty to become an additional focus in Europe.
  • Year-to-Date GrowthAfter three quarters, Atea reported gross sales of NOK 47.5 billion, up 17.4% in constant currency; EBIT of more than NOK 1.2 billion, up almost 34%; and net profit of NOK 886 million, up 62.6%.
  • Positive 2027 Outlook and Full-Year EBIT RangeManagement said it is very confident that Atea will keep growing and scaling in 2027, with AI viewed as an important part of scaling and cost efficiency. Full-year EBIT is expected to land between NOK 1,710 million and NOK 1,745 million.
  • Expected Doubling of Danish EBITManagement expects Denmark to double EBIT in 2027 compared with 2026.

DE:MKL Earnings History

DE:MKL earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 09, 20272026 (Q4)0.32-0.29――
Oct 22, 20262026 (Q3)0.240.240.1925.00% (+0.05)
Jul 15, 20262026 (Q2)0.190.190.1439.29% (+0.05)
Apr 28, 20262026 (Q1)0.230.310.14119.26% (+0.17)
Feb 10, 20262025 (Q4)0.300.290.2325.00% (+0.06)
Oct 23, 20252025 (Q3)0.200.190.1716.96% (+0.03)
Jul 16, 20252025 (Q2)0.170.140.1212.90% (+0.02)
Apr 29, 20252025 (Q1)0.150.140.16-12.94% (-0.02)
Feb 06, 20252024 (Q4)0.250.230.227.62% (+0.02)
Oct 22, 20242024 (Q3)0.170.170.165.56% (+0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed