Corporate governance

President’s statement

2009 ended very strongly. Proact is reporting a profit of SEK 60.1 (50.1) million before tax for the full year, and SEK 24.1 (19.1) million before tax for the fourth quarter. This is the best result ever reported by Proact. This result means that Proact has reported better results before tax for 20 quarters in a row than in the corresponding quarter for the previous year. Growth for the full year 2009 amounted to 20 %, and for the fourth quarter 13 %.

According to survey company IDC, the market for storage and archiving in the countries in which Pro-act is active contracted by 1 % in 2009. Despite this, Proact is reporting strong growth and its best result ever. This is because Proact is able to meet clients’ needs for cost reductions and technical streamlining for handling stored digital information. The company also has every opportunity of being able to increase its market shares in the future as well.

Contracted services are demonstrating good growth. Around one-third of total income comes from this field, which comprises services for support, operation and finance. As a rule, agreements extend over three years and provide a good income base in times of economic downturn or upswing.
The Netherlands is showing a positive result in its second year of trading. The company started in early 2008 as what is known as a green-field.

The Group employed 328 people at the end of the quarter, 7 more than for the same period last year.

Olof Sand

CEO and President