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MeldingsID: 376427
Dato/tid 28.04.2015 08:00
Utsteder Itera ASA
UtstederID ITE
Instrument ITE
Marked OB
Kategori HALVÅRSRAPPORTER OG REVISJONSBERETNINGER / UTTALELSER OM FORENKLET REVISORKONTROLL
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Vedlegg
Tittel Revenue growth and solid order intake
Tekst
Oslo, 28th April 2015: The revenue generated by Itera's 
consulting services continued to grow in the first quarter 
of 2015, while the IT hosting activities experienced a lower 
level of activity, as was expected. The planned actions to 
improve the profitability of Itera's IT hosting activities 
in Norway were carried out in the first quarter of 2015, and 
have had the desired effect on earnings. As previously 
announced, it has been decided that Itera's IT hosting 
activities in Sweden are to be sold, and the sales process 
is underway.

The Group reports operating revenue of NOK 113.9 million 
(112.4) for the first quarter of 2015, representing growth 
of 1%.

The Group's operating costs totalled NOK 111.1 million 
(110.0) in the first quarter of 2015, representing an 
increase of 1%.

The operating result before depreciation (EBITDA) for the 
first quarter of 2015 was a profit of NOK 7.7 million (a 
profit of NOK 7.8 million in Q1 2014)

The operating result before non-recurring items (EBIT) for 
the first quarter of 2015 was a profit of NOK 2.8 million (a 
profit of NOK 2.4 million in Q1 2014)

As previously communicated, non-recurring costs totalling 
NOK 2.0 million were recognised in the first quarter of 2015 
due to an unprofitable department in Itera's IT hosting 
activities in Norway being closed down.

Itera's cash flow from operations in the first quarter of 
2015 was negative by NOK 8.1 million (negative by NOK 10.7 
million in Q1 2014). The negative cash flow from operations 
in the first quarter of 2015 can be attributed to seasonal 
variations.

The revenue from Itera's 30 largest customers grew by 9% in 
the first quarter of 2015 and accounted for 66% of the 
Group's operating revenue, up from 64% in the first quarter 
of 2014.

- The Group experienced good order inflows in the first 
quarter. Delivery agreements with a combined value of NOK 
170 million were signed with customers such as PRA Group, 
Hjort, Simonsen Vogt Wiig, Selvaag, the Norwegian Defence 
Estates Agency, the Municipality of Ski, OBOS and Østfold 
Energi. Most of the agreements constitute extensions or 
enlargements of existing relationships, which confirms that 
the customers find it value adding to cooperate with Itera, 
says Arne Mjøs, CEO of Itera.

The Group's headcount at the end of the first quarter of 
2015 was 437 as compared to 464 at the end of March 2014. 
This represents a decrease of approximately 6%. Some of the 
reduction is due to an unprofitable department in Itera's IT 
hosting activities in Norway being closed down, while the 
rest is a result of natural departures that have not been 
replaced with new resources. 


For more information:
Arne Mjøs, CEO
+47 905 23 172 
arne.mjos@itera.no

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