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MeldingsID: 384329
Dato/tid 27.08.2015 07:30
Utsteder Itera ASA
UtstederID ITE
Instrument ITE
Marked OB
Kategori HALVÅRSRAPPORTER OG REVISJONSBERETNINGER / UTTALELSER OM FORENKLET REVISORKONTROLL
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Vedlegg
Tittel Improvements in profitability
Tekst
Oslo, 27. August 2015: The revenue generated by Itera's 
consulting services in Norway and Sweden grew again in the 
second quarter, while the equivalent services in Sweden 
did not see growth. The company's IT hosting activities in 
Norway returned to growth, and the restructuring that was 
carried out has had the desired effect on profits.

The Group reports operating revenue of NOK 114.3 million 
(114.8) for the second quarter of 2015 and of NOK 228.3 
million (227.2) for the first six months of 2015.

The Group's operating costs totalled NOK 109.7 million 
(113.6) in the second quarter of 2015 and NOK 220.8 
million (223.6) in the first six months, representing 
decreases of 4% and 1% respectively relative to the 
equivalent periods in 2014. 

The operating result before depreciation (EBITDA) for the 
second quarter of 2015 was a profit of NOK 9.9 million (a 
profit of NOK 6.6 million in Q2 2014), and for the first 
six months of 2015 was a profit of NOK 17.6 million (a 
profit of NOK 14.4 million in H1 2014).

The operating result before non-recurring items (EBIT) for 
the second quarter of 2015 was a profit of NOK 4.7 million 
(a profit of NOK 1.2 million in Q2 2014), and for the 
first six months of 2015 was a profit of NOK 7.5 million 
(a profit of NOK 3.6 million in H1 2014).

Itera's cash flow from operations in the second quarter of 
2015 was NOK -6.6 million (13.0) and NOK -14.7 million 
(2.4) in the first six months.

The revenue from Itera's 30 largest customers grew by 
percent in the second quarter of 2015 and accounted for 67 
percent of the Group's operating revenue, up from 64 
percent in the second quarter of 2014.

Itera's consulting activities in Norway and Sweden 
continued to achieve good profit performance with 
significant improvements in profitability also seen this 
quarter. 

- We are very pleased that both the Norwegian and the 
Danish consulting activities continued to achieve good 
profit performance with significant improvements in 
profitability also seen this quarter. However, weaker 
figures were generated by Itera's consulting activities in 
Sweden. Necessary measures have been defined, and we are 
focused and targeted on improving this part of business, 
says Arne Mjøs, CEO of Itera.

Central delivery agreements were signed with customers 
such as Østfold Energi, Eurosko, KLP, Storebrand, the 
Norwegian Directorate for Building Quality, Advokatfirmaet 
Hjort, Selvaag, Gjensidige, If, Santander, NEMI 
Forsikring, PRA Group, Aon and Eika Forsikring.

A contract that particularly stands out is Itera's new 
agreement with Nets, which in the second quarter selected 
Itera as its preferred partner for digital development, 
including for communication services. The agreement 
applies to all the countries in which Nets is represented: 
Denmark, Norway, Sweden, Finland and Estonia.

- We experience that we are in the process of increasing 
the brand awareness of Itera as a communications and 
technology company in the Nordic market. The fact that 
Nets chose us as their partner could serve as an 
illustration, says Arne Mjøs, CEO of Itera.

The Group's headcount at the end of the second quarter of 
2015 was 423 as compared to 465 at the end of June 2014. 
This represents a decrease of approximately 9 percent. 
Some of the reduction is due to an unprofitable department 
in Itera's IT hosting activities in Norway being closed 
down, and the nearshore ratio has also been somewhat 
lower.

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

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