atNorth announces highest revenue to date

Author: Isha Jain

atNorth has announced a group income of SEK 560 million (EUR 53 million) as it publishes its 2022 annual accounts. This figure represents a 44% increase in revenue from 2021 and further growth is expected in the coming years. 

The company currently operates six data centres based in Iceland, Sweden and Finland. It is planning further state-of-the-art sites in the coming years. atNorth‘s growth calls for extensive investment and it has secured access to capital for this purpose. The investment for the year 2022 amounted to about SEK 220 million (EUR 20 million), and it is already evident that the 2023 level of investment will be significantly higher.

Eyjólfur Magnús Kristinsson, CEO of atNorth, says, “In recent years, we have built an enormous wealth of knowledge. Our customers value our services and it is core to atNorth’s good reputation.” He also commends the support of the company‘s sponsor, Partners Group, that acquired the majority of the company’s shares at the beginning of 2022.

As digital transformation and the use of AI and other big data projects escalates, businesses are becoming increasingly reliant on supercomputers to perform ever more complex calculations. The resulting need for high performance data centre and supercomputing services has led to an exponential increase in demand in recent years.

atNorth continues to promote the Nordic region as a superlative location for investment in digital infrastructure, recently winning the ‘Tech Capital Location’ award for Iceland as a result of its advantageous climate, favourable business environment and cutting-edge infrastructure. Eyjólfur comments, “Iceland is truly on the map, and with our best-in-class data centres, outstanding customer service and proficient marketing communications, atNorth is proud to have created a desirable position in the market.”