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MeldingsID: 411507
Dato/tid 19.10.2016 10:16
Utsteder Itera ASA
UtstederID ITE
Instrument ITE
Marked OB
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Tittel Corr: Good order inflows and positive growth
Oslo, 19th October 2016: Itera achieved revenue growth of 3 
percent in the third quarter of 2016 relative to the same 
period last year. This growth was achieved through its 
nearshore activities, with a double-digit revenue growth, and 
through the Norwegian consulting and product units. The 
revenue generated by Itera's Danish activities and its IT 
hosting activities in Norway decreased slightly.

The Group reports operating revenue of NOK 91.8 million (NOK 
88.7 million) for the third quarter of 2016, which represents 
growth of 3 percent. This revenue growth was largely achieved 
through the Group's nearshore services, whereas sales of 
hardware/software decreased significantly.

- We are satisfied with the development in those parts of the 
businesses that deliver the strongest results. Going forward, 
we will focus on bringing out more of the potential of the 
other operations, says Arne Mjøs, CEO of Itera.

The Group's total operating costs were up 3 percent to NOK 
85.5 million (NOK 82.4 million) in the third quarter of 2016.

The operating result before depreciation and amortisation 
(EBITDA) for the third quarter of 2016 was a profit of NOK 
11.0 million (a profit of NOK 11.1 million in Q3 2015), and 
the operating result (EBIT) before non-recurring items was a 
profit of NOK 6.3 million (a profit of NOK 6.4 million in Q3 
2015). The EBIT margin was 6.3 percent as compared to 7.2 
percent in the same period last year.

Cash flow from operational activities was NOK 4.4 million 
(NOK 5.3 million) in the third quarter of 2016. This is NOK 
6.7 million less than EBITDA, which is due primarily to a 
reduction in other current liabilities.

- Itera is finding the market position that it has created in 
collaboration with its customers to be strong, and believes 
that the Group has the right knowledge, experience and 
approach to further strengthen its position: insight into 
advanced technology, a good understanding of business, and a 
strong focus on creating good user experiences. The Group's 
range of services in communication and technology are more 
relevant than ever before, says Arne Mjøs, CEO of Itera.

During the third quarter Itera was recognised as one of the 
top-25 most innovative organisations in Norway across all 
sectors, along with other strong brands such as DNV GL, 
Norwegian, Snøhetta, Telenor, Statoil and Schibsted.

The revenue from Itera's 30 largest customers grew by 9 
percent in the third quarter of 2016 and accounted for 75 
percent of the Group's operating revenue, up from 69 percent 
in the third quarter of 2015. 

The proportion of Itera's capacity that is located nearshore 
(its nearshore ratio) was 36 percent (33 percent) at the end 
of the third quarter. The Group has development centres in 
Slovakia and Ukraine and has a strategic target of achieving 
a nearshore ratio of 50% in the future.

For more information:
Arne Mjøs, CEO				Bent Hammer, CFO
+47 905 23 172 				+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.

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