atNorth Announces 44% Revenue Growth

Print Friendly, PDF & Email

Reykjavik, Iceland – July 12th 2023 — atNorth, a nordic colocation, high-performance computing and AI service provider, has today announced a group income of SEK 560 million  (EUR 53 million) as it publishes its 2022 annual accounts. This figure represents a 44 percent increase in revenue from 2021 and further growth is expected in the coming years.

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

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

As the global trend of digital transformation continues, as well as the increase in the use of AI and other big data projects businesses are becoming more and more reliant on supercomputers to perform increasingly complex calculations. This demand is fuelling the need for high performance data center and supercomputing services which have increased exponentially in recent years.

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

A strong emphasis on sustainable energy use lies at the heart of the business, which has been very well received by the company’s customers. By entrusting the operation of their computer systems to atNorth, many companies have reduced their own ecological footprint, resulting in an overall benefit of a reduction in computer operations powered by fossil fuels as used by many traditional data centers.

atNorth is a leading Pan-Nordic data center services company that offers sustainable, cost-effective, and scalable colocation and high-performance computing services across Iceland, Sweden and Finland. The company operates six data centers in strategic locations across the Nordics, with a seventh site to open in Finland in 2024.

With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.