Du er på: newsweb.no
Fra dato
Til dato
Velg marked
Vis kun aktive utstedere Info...
MeldingsID: 407959
Dato/tid 24.08.2016 07:15
Utsteder Itera ASA
UtstederID ITE
Instrument ITE
Marked OB
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Tittel Solid improvement of operating result and cash flow
Oslo, 24 August 2016: The progress achieved in the first 
quarter continued and strengthened in the second quarter, 
and the Group delivered solid growth. Growth was 
particularly strong in Denmark and at the Group's nearshore 
activities, but all units in Norway also achieved 
profitability improvements.

The Group reports pro forma operating revenue for continuing 
operations of NOK 110.0 million (NOK 99.7 million) for the 
second quarter of 2016 and of NOK 214.1 million (NOK 198.9 
million) for the first six months of 2016. This represents 
revenue growth of 10% and 8% respectively. In percentage 
terms Itera's Danish unit and its nearshore activities 
achieved the strongest revenue growth, but revenue was also 
up at all the Group's Norwegian units.

The Group's operating result before depreciation and 
amortisation (EBITDA) for the second quarter of 2016 was a 
profit of NOK 15.6 million (a profit of NOK 11.0 million in 
Q2 2015), and for the first six months of 2016 was a profit 
of NOK 26.7 million (a profit of NOK 20.8 million in H1 
2015). For these same periods the Group's operating results 
before non-recurring items (EBIT) were a profit of NOK 10.7 
million (a profit of NOK 6.1 million in Q2 2015) and a 
profit of NOK 16.8 million (a profit of NOK 11.2 million in 
H1 2015) respectively. The EBIT margin was 9.7% (6.2%) for 
the second quarter of 2016 and 7.9% (5.7%) for the first six 
months of the year.

Cash from operating activities was NOK 10.7 million (NOK 
-6.6 million) for the second quarter of 2016 and NOK 7.2 
million (NOK -14.7 million) for the first six months of the 

A key part of Itera's strategy is to maintain and develop 
the Group's largest and most strategic relationships across 
national borders and areas of expertise. An example of this 
from the second quarter is Itera's development of new web 
solutions for Nets, which is a centrally important customer 
for the Group. Itera has total responsibility for developing 
an entirely new universe of internet solutions to maintain 
Nets' corporate branding in five countries as well as in 
relation to a global English version. 'Total responsibility' 
means that most of Itera's areas of expertise and service 
spectrum is being used, which represents part of the core of 
the Group's strategy. 

"We are very satisfied that the progress achieved in the 
first quarter continued in the second. We are becoming more 
and more efficient at using resources and units across the 
Group. Local presence is becoming less critical, and it is 
becoming easier to grow in conjunction with our customers 
regardless of where delivery teams are physically located", 
comments Arne Mjøs, CEO of Itera.

The revenue from Itera's 30 largest customers grew by 7% in 
the second quarter of 2016 and accounted for 73% of the 
Group's operating revenue, up from 69% in the second quarter 
of 2015.

The proportion of Itera's capacity that is located nearshore 
(its nearshore ratio) was 36% (29%) at the end of the second 
quarter. The Group's development centre in Bratislava 
provides great flexibility with regard to meeting the target 
of achieving a nearshore ratio of 50% in the future.

For more information:
Arne Mjøs, CEO				
+47 905 23 172 				

Bent Hammer, CFO
+47 982 15 497

About Itera - great experiences for the customer's customers
Itera is a communication and technology company that 
delivers services in the strategy and consulting, design and 
development, and operations and management areas. Its 
customers are Nordic organisations that aim to deliver great 
user experiences to their customers, and that see the 
instrumental contribution that innovation, efficient 
communication and good technology use can make to achieving 
their goals. Itera is headquartered in Oslo, and has about 
400 employees across the Nordics and in Ukraine and 
Slovakia. Itera is listed on Oslo Stock Exchange under the 
ticker ITE.

Les om ansvar og rettigheter.