IT infrastructure provider Arctic Stream reports 91% stronger earnings in Jan-Sept
Arctic Stream (BVB: AST), an IT infrastructure and security integrator and issuer listed on the Bucharest Stock Exchange, announced its net profit surged by 91% in January-September while its revenues rosed by 73%y/y.
The company says it already achieved 96% of the profit planned for the whole year and 91% of the revenues planned for 2023.
The performance is typically above-average in the last quarter of the year for the IT infrastructure industry, but this will not necessarily be the case this year, the company's note to investors indicates.
The company's net profit was RON 8.20 million (EUR 1.65 million), almost double compared to that posted in the first three quarters of 2022. As regards the earnings before interest and tax expenses ( EBIT), the increase was even more substantial: +126%, namely RON 9.70 million (EUR 1.95 million).
The company has a market capitalisation of RON 121 million (EUR 24 million).
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