Quarterly Report • Aug 27, 2015
Quarterly Report
Open in ViewerOpens in native device viewer
| 2015 | 2014 | change | 2015 | 2014 | change | 2014 | |
|---|---|---|---|---|---|---|---|
| All figures in NOK million | 4-6 | 4-6 | % | 1-6 | 1-6 | % | 1-12 |
| Sales revenue | 114,3 | 114,8 | 0 % | 228,3 | 227,2 | 0 % | 439,8 |
| Gross profit | 94,6 | 92,9 | 2 % | 190,3 | 187,5 | 1 % | 363,9 |
| EBITDA | 9,9 | 6,6 | 50 % | 17,6 | 14,4 | 22 % | 25,2 |
| EBITDA margin | 8,6 % | 5,7 % | 7,7 % | 6,4 % | 5,7 % | ||
| Operating profit (EBIT) before non-recurring items | 4,7 | 1,2 | 300 % | 7,5 | 3,6 | 108 % | 3,8 |
| EBIT margin before non-recurring items | 4,1 % | 1,0 % | 3,3 % | 1,6 % | 0,9 % | ||
| Operating profit (EBIT) | 2,9 | 1,2 | 149 % | 3,8 | 3,6 | 5 % | 0,2 |
| EBIT margin | 2,5 % | 1,0 % | 1,7 % | 1,6 % | 0,6 % | ||
| Profit before tax | 3,6 | 1,0 | 264 % | 3,7 | 3,3 | 11 % | -1,6 |
| Profit for the period | 2,6 | 0,7 | 264 % | 2,7 | 2,4 | 11 % | -4,9 |
The Group's operating revenue of NOK 114.3 million for the second quarter of 2015 represents flat revenue growth compared to the same period in 2014.
The operating result before non-recurring items for the second quarter was a profit of NOK 4.7 million (1.2). Improvements were seen in the profitability of Itera's consulting activities in Norway and Denmark and of its IT hosting activities in Norway. Itera's activities in Sweden generated weaker results than in the same quarter last year.
The second quarter of 2015 was one quarter of a working day shorter than the second quarter of 2014. One working day represents an impact on earnings of approximately NOK 1 million.
This consolidated interim financial report includes Itera ASA and its subsidiaries, and was prepared in accordance with IAS 34, which covers interim reporting, and the Securities Trading Act. The report has not been audited, and does not contain all the information required in an annual financial report. More information about the accounting principles used can be found in Itera's annual report for 2014.
The figures given in brackets in this report refer to the second quarter of 2014 or to the first six months of 2014 as appropriate.
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 revenue generated by Itera's own consultants grew, while the revenue generated by Itera's nearshore activities decreased slightly. It is pleasing to report that the company's IT hosting activities in Norway were back in growth mode in the second quarter. There was, however, a decrease in the revenue reported by Itera's activities in Sweden.
"Gross profit 1" (revenue – cost of goods sold) was NOK 94.6 million (92.9) in the second quarter of 2015 and NOK 190.3 million (187.5) in the first six months. This represents growth of 2% and 1% relative to the same periods in 2014.
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.
Cost of goods sold was NOK 19.8 million (21.9) in the second quarter of 2015 and NOK 38.0 million (39.7) in the first six months. Cost of goods sold principally consists of services purchased from sub-consultants, costs related to the Group's data centre, and third-party software licences and hardware that form part of larger deliveries. Cost of goods sold can vary significantly from quarter to quarter. The decrease in the cost of goods sold in the second quarter was due to onward sales of hardware and software constituting a slightly smaller share of total sales.
Personnel costs were NOK 70.8 million (74.2) in the second quarter of 2015 and NOK 147.5 (149.0) in the first six months, representing decreases of 4% and 1% respectively relative to the equivalent periods in 2014. The decreases were related to the Group having fewer employees. Personnel costs per employee were 4% higher in the second quarter and 5% higher in the first six months than in the equivalent periods last year. This was partly due to increases in salaries and partly due to the company having a lower nearshore ratio than in the same periods last year.
Total depreciation and amortisation was NOK 5.2 million (5.4) in the second quarter and NOK 10.1 million (10.8) in the first six months.
Other operating costs totalled NOK 13.8 million (12.3) in the second quarter and NOK 25.2 million (24.1) in the first six months. The increases relate to the use of external services.
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).
Non-recurring costs totalling NOK 1.8 million were recognised in the second quarter, which related to severance packages. Non-recurring costs of NOK 3.8 million were recognised in the first six months of 2015, NOK 1.9 million of which were recognised in the first quarter as a result of the closure of an unprofitable department in Itera's IT hosting activities in Norway.
Net financial items were NOK 0.7 million (-0.2) in the second quarter of 2015 and NOK -0.1 (-0.3) in the first six months. The increases were due to the effect of currency adjustments relative to Sweden and Ukraine.
The operating result before tax for the second quarter was a profit of NOK 3.6 million (a profit of NOK 1.0 million in Q2 2014), and for the first six months was a profit of NOK 3.7 million (a profit of NOK 3.3 million in H1 2014). Tax expenses totalled NOK 1.0 million (0.3) in the second quarter and NOK 1.0 million (0.9) in the first six months. Tax paid in the second quarter was NOK 0.0 million (0.4) and NOK 0.0 million (0.8) in the first six months.
The Group had deferred tax assets of NOK 4.8 million (8.6) at 30 June 2015, NOK 4.8 million of which is capitalised on the balance sheet.
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 statement of cash flow shows that there was a large decrease in the balance sheet item for work in progress at 30 June 2014 relative to 31 December 2013, which had a positive effect on cash flow in the first half of last year. Accounts receivable from customers at 30 June 2015 were slightly higher than at 31 December 2014, which had a negative effect on cash flow.
Accounts receivable from customers were NOK 4.7 million lower at 30 June 2015 than at 30 June 2014. Work in progress at 30 June 2015 was NOK 5.4 million higher than at the same point in 2014, and this related to fixed price projects invoiced according to project milestones. Other current receivables increased by NOK 9.9 million, principally due to a change in the principle used for classifying implementation projects.
Accounts payable, tax payable and public duties payable at 30 June 2015 were in line with 30 June 2014. Other current liabilities were NOK 19.1 million higher, principally as a result of the above-mentioned reclassification of implementation projects.
Bank deposits totalled NOK 43.7 million (32.3) at 30 June 2015, and the Group has an undrawn credit facility of NOK 25 million.
The Group had net interest-bearing liabilities totalling NOK 14.3 million (18.7) at 30 June 2015 related to financial lease agreements entered into in order to finance investments related to IT hosting contracts.
Itera purchased 4,500 of its own shares in the second quarter, and held the same number at 30 June 2015.
Equity at 30 June 2015 totalled NOK 55.8 million (59.5). This represented an equity ratio of 29% (33%). The decrease in the equity ratio is due to the dividend paid in the second quarter of 2014.
The Group invested NOK 4.1 million (5.2) in the second quarter of 2015 and NOK 7.1 million (12) in the first six months of the year.
Investment in Itera's IT hosting activities amounted to NOK 2.2 million (2.3) in the second quarter of 2015 and NOK 2.6 million (6.8) in the first six months of 2015. Leasing accounted for NOK 2.0 million (1.2) of this amount in the second quarter and NOK 2.0 million (5.7) in the first six months. Investment in intangible assets (including software developed in-house for ongoing yearly agreements) totalled NOK 1.0 million (1.4) in the second quarter of 2015 and NOK 3.2 million (2.1) in the first six months.
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.
Itera's IT hosting activities in Sweden were sold with effect from 1 July 2015 and will be deconsolidated from this date. The company will produce pro forma comparable figures as part of its third quarter report.
Itera received consideration of SEK 17 million from the sale, SEK 12 million of which was paid when ownership was transferred on 1 July 2015 and SEK 1 million of which will be paid in October 2015. The variable part of the consideration, SEK 4 million, will be paid between December 2015 and December 2017. Itera will recognise a gain on the sale of approximately NOK 2 million in the third quarter of 2015.
The Group experienced good order inflows in the second quarter of 2015. 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. The assignments involved in these contracts cover the entirety of Itera's service range, from strategic consultancy, concept development, service design, systems development and web solutions to IT hosting and infrastructure services.
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. Nets based its decision on its desire to achieve a sizeable reduction in the number of business partners it uses, and selected a strong supplier that understands Nets' business and has well-developed expertise in its solutions, particularly portals, strategy and state-of-the-art technology such as Microsoft SharePoint with cloud implementation through Microsoft Azure. Nets was also attracted to Itera's delivery model, as it offers the option of putting together teams with a mix of local and nearshore resources, which is important for achieving high ambitions. The agreement is strategically important to Itera and strengthens Itera's foothold as a communication and technology company in the Nordic market.
The public sector is a special focus area for Itera, and it is a sector that Itera assists in the areas of digitisation and efficiency improvements by delivering a broad range of communication and technology services. A performance assessment carried out by the Norwegian Defence Estates Agency (NDEA) in the second quarter provides an example of the sort of efficiency improvements Itera can deliver. This assessment showed that, with the help of a solution developed by Itera, the NDEA succeeded in reducing the processing time required for a particular central task from three hours to six minutes, as the forms involved were simplified and digitised. The time reduction achieved by this efficiency improvement was 97%.
Itera has a strong customer portfolio in the Nordic region, and many customers have the potential to purchase the whole range of services offered by the Group. 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.
The revenue from Itera's 30 largest customers grew by 7% in the second quarter of 2015 and accounted for 67% of the Group's operating revenue, up from 64% in the second quarter of 2014.
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%. 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.
The proportion of Itera's capacity that is located nearshore (its nearshore ratio) was 29% (34%) at the end of the second quarter of 2015. The Group's development centre in Bratislava provides flexibility with regard to meeting the target of achieving a nearshore ratio of 50% in the future.
Itera's activities are influenced by a number of different factors, some of which are within the company's control, and some of which are not. As a service company, Itera faces business risks associated with competition and pressure on prices, project overruns, recruitment, loss of key resources, customers' performance and bad debts. Market-related risks include risks related to the business cycle. Financial risks include currency fluctuations, principally in relation to the Swedish krona (SEK) and the Danish krone (DKK), as well as in relation to the US dollar (USD) against the Norwegian krone (NOK). In addition, interest rate changes will affect the returns earned by the Group on its bank deposits, as well as leasing costs and the cost of credit facilities.
The Group is exposed through its nearshore activities in Ukraine to new risk factors such as country risk, data security and corruption. Itera has a zero tolerance policy on corruption and has therefore decided not to deliver services to the public or private sector in Ukraine.
More information about risks and uncertainties can be found in Itera's annual report for 2014.
The company's overall strategy of developing larger, longterm customer relationships, increasing the number of project deliveries which involve the full range of the Group's services, using nearshore resources and focusing on operational efficiency remains unchanged.
Itera is developing its range of services to meet customers' requirements, and its services are based on combining communication and technology.
The interim report for the third quarter of 2015 will be published and presented on 29 October 2015.
We hereby confirm that, to the best of our knowledge, the summarised half-yearly financial statements for the period 1 January to 30 June 2015 have been prepared in accordance with IAS 34 Interim Financial Accounting, and that the information they contain gives a true and fair view of the assets, liabilities, financial position and profit or loss of the group taken as a whole.
We also confirm that, to the best of our knowledge, the summarised half-yearly financial statements give a true and fair view of the information mentioned in Section 5-6, fourth paragraph, of the Securities Trading Act.
Oslo, 26 August 2015 The Board of Directors of Itera ASA
Morten Thorkildsen Chairman
Jan-Erik Karlsson Board Member
Karl-August Brunstad Board Member/Employee Representative Mimi K. Berdal Board Member
Wenche Holen Board Member
Jorunn Aarskog Board Member/Employee Representative
Arne Mjøs CEO
| 2015 | 2014 | change | 2015 | 2014 | change | 2014 | |
|---|---|---|---|---|---|---|---|
| All figures in NOK 1000 | 4-6 | 4-6 | % | 1-6 | 1-6 | % | 1-12 |
| Sales revenue | 114 335 | 114 811 | 0 % | 228 272 | 227 216 | 0 % | 439 845 |
| Operating expenses | |||||||
| Cost of sales | 19 773 | 21 879 | -10 % | 37 981 | 39 706 | -4 % | 75 926 |
| Personnel expenses | 70 839 | 74 021 | -4 % | 147 481 | 149 001 | -1 % | 288 639 |
| Depreciation | 5 202 | 5 418 | -4 % | 10 097 | 10 816 | -7 % | 21 407 |
| Other operating expenses | 13 846 | 12 325 | 12 % | 25 200 | 24 080 | 5 % | 50 047 |
| Total operating expenses | 109 660 | 113 643 | -4 % | 220 759 | 223 603 | -1 % | 436 019 |
| Operating profit before non-recurring items | 4 675 | 1 168 | 300 % | 7 513 | 3 613 | 108 % | 3 826 |
| Non-recurring items | 1 766 | 0 | 3 732 | 0 | 3 668 | ||
| Operating profit after non-recurring items | 2 909 | 1 168 | 149 % | 3 781 | 3 613 | 5 % | 158 |
| Financial items | |||||||
| Other financial income | 1 963 | 84 | 2247 % | 2 073 | 267 | 676 % | 1 462 |
| Other financial expenses | 1 275 | 264 | 383 % | 2 166 | 566 | 282 % | 3 174 |
| Net financial items | 688 | -180 | 481 % | -93 | -299 | 69 % | -1 712 |
| Profit before tax | 3 597 | 988 | 264 % | 3 688 | 3 314 | 11 % | -1 554 |
| Tax | 971 | 267 | 264 % | 996 | 895 | 11 % | 3 394 |
| Profit for the period | 2 626 | 721 | 264 % | 2 692 | 2 419 | 11 % | -4 947 |
| Earnings per share | 0,03 | 0,01 | 264 % | 0,03 | 0,03 | 11 % | -0,06 |
| Fully diluted earnings per share | 0,03 | 0,01 | 264 % | 0,03 | 0,03 | 11 % | -0,06 |
| Statement of other income and costs | |||||||
| Currency translation differences | -284 | 296 | -196 % | -692 | -455 | -52 % | 266 |
| Unrealized net effect on investments in foreign subsidiaries | 357 | -109 | 428 % | -117 | -649 | 82 % | 279 |
| Profit for the period | 2 626 | 721 | 264 % | 2 692 | 2 419 | 11 % | -4 947 |
| Total profit | 2 699 | 908 | 197 % | 1 883 | 1 315 | 43 % | -4 402 |
| Attributable to: | |||||||
| Shareholders in parent company | 2 699 | 908 | 197 % | 1 883 | 1 315 | 43 % | -4 402 |
| 2015 | 2014 | change | 2014 | |
|---|---|---|---|---|
| All figures in NOK 1000 | Jun 30 | Jun 30 | % | 31 Dec |
| ASSETS | ||||
| Non-current assets | ||||
| Deferred tax assets | 4 788 | 8 652 | -45 % | 5 810 |
| Other intangible assets | 15 904 | 15 646 | 2 % | 15 871 |
| Fixed assets | 23 629 | 30 237 | -22 % | 26 922 |
| Total non-current assets | 44 322 | 54 534 | -19 % | 48 604 |
| Current assets | ||||
| Work in progress | 13 071 | 7 670 | 70 % | 12 228 |
| Accounts receivable | 62 371 | 67 074 | -7 % | 59 692 |
| Other receivables | 29 422 | 19 575 | 50 % | 17 221 |
| Bank deposits | 43 729 | 32 284 | 35 % | 67 189 |
| Total current assets | 148 593 | 126 605 | 17 % | 156 331 |
| Total assets | 192 915 | 181 139 | 7 % | 204 935 |
| EQUITY AND LIABILITIES | ||||
| Equity | ||||
| Share capital | 24 656 | 24 648 | 0 % | 24 656 |
| Other equity | 28 402 | 32 418 | -12 % | 34 159 |
| Net profit for the period | 2 692 | 2 419 | 11 % | -4 947 |
| Total equity | 55 750 | 59 485 | -6 % | 53 868 |
| Non-current liabilities | ||||
| Non-current interest bearing liabilities | 14 310 | 18 701 | -23 % | 16 032 |
| Total non-current liabilities | 14 310 | 18 701 | -23 % | 16 032 |
| Current liabilities | ||||
| Accounts payable | 22 234 | 21 917 | 1 % | 27 245 |
| Tax payable | 13 | 31 | -58 % | 5 |
| Public duties payable | 24 832 | 24 570 | 1 % | 30 801 |
| Other short-term liabilities | 75 775 | 56 435 | 34 % | 76 984 |
| Total current liabilities | 122 855 | 102 953 | 19 % | 135 035 |
| Total liabilities | 137 165 | 121 654 | 13 % | 151 066 |
| Total equity and liabilities | 192 915 | 181 139 | 7 % | 204 935 |
| Equity ratio | 29 % | 33 % | 26 % |
| 2015 | 2014 | change | 2015 | 2014 | change | |
|---|---|---|---|---|---|---|
| All figures in NOK 1000 | 4-6 | 4-6 | % | 1-6 | 1-6 | % |
| Cash flow from operating activities | ||||||
| Profit before taxes | 3 597 | 988 | 264 % | 3 688 | 3 314 | 11 % |
| Tax paid | 0 | -132 | 100 % | 0 | -521 | 100 % |
| Depreciation | 5 202 | 5 418 | -4 % | 10 097 | 10 816 | -7 % |
| Change in w ork in progress |
169 | -765 | 122 % | -844 | 7 987 | -111 % |
| Change in accounts receivable | -1 240 | 14 302 | -109 % | -2 679 | 2 608 | -203 % |
| Change in accounts payable | 4 562 | -1 017 | 549 % | -5 010 | -5 254 | 5 % |
| Change in other accruals | -19 168 | -6 291 | -205 % | -19 380 | -16 004 | -21 % |
| Effect of currency changes | 322 | 455 | -29 % | -524 | -721 | 27 % |
| Net cash flow from operating activities | -6 557 | 12 958 | -151 % | -14 651 | 2 224 | -759 % |
| Cash flow from investment activities | ||||||
| Investment in fixed assets | -1 084 | -1 455 | 25 % | -1 881 | -3 107 | 39 % |
| Investment in intangible assets | -1 048 | -1 480 | 29 % | -3 217 | -2 116 | -52 % |
| Net cash flow from investment activities | -2 132 | -2 935 | 27 % | -5 098 | -5 223 | 2 % |
| Cash flow from financing activities | ||||||
| Borrow ings repaid |
-1 628 | -2 026 | 20 % | -3 711 | -3 910 | 5 % |
| Dividend | 0 | -28 765 | 100 % | 0 | -28 765 | 100 % |
| Net cash flow from financing activities | -1 628 | -30 791 | 95 % | -3 711 | -32 675 | 89 % |
| Net cash flow | -10 317 | -20 768 | 50 % | -23 460 | -35 674 | 34 % |
| Bank deposits at the beginning of the period | 54 046 | 53 052 | 2 % | 67 189 | 67 958 | -1 % |
| Bank deposits at the end of the period | 43 729 | 32 284 | 35 % | 43 729 | 32 284 | 35 % |
| New borrowing related to leasing | 1 988 | 2 330 | -15 % | 1 988 | 6 785 | -71 % |
| All figures in NOK 1000 | Share capital |
Ow n shares |
Other equity |
Translation differences |
Other equity |
Total equity |
|---|---|---|---|---|---|---|
| Shareholders' equity as of 31 Dec 2013 | 24 656 | 0 | 138 | -1 140 | 63 280 | 86 935 |
| Comprehensive income for the year | 0 | 0 | 0 | 545 | -4 947 | -4 402 |
| Option costs | 0 | 0 | 168 | 0 | 0 | 168 |
| Purchase of ow n shares |
0 | 315 | 0 | 0 | -315 | 0 |
| Sale of ow n shares |
0 | -315 | 0 | 0 | 248 | -67 |
| Dividend | 0 | 0 | 0 | 0 | -28 765 | -28 765 |
| Shareholders' equity as of 31 Dec 2014 | 24 656 | 0 | 306 | -595 | 29 500 | 53 868 |
| Comprehensive income year to date 2015 | 0 | 0 | 0 | -809 | 2 692 | 1 883 |
| Shareholders' equity as of 30 June 2015 | 24 656 | 0 | 306 | -1 404 | 32 192 | 55 751 |
Note 1: Transactions with related parties
There have been no material transactions with related parties during the reporting period 31 December 2014 to 30 June 2015.
Note 2: Events after the balance sheet date
There have been no events after 30 June 2015 that would have an effect on the interim accounts.
| 2015 | 2014 | change | 2015 | 2014 | change | 2014 | |
|---|---|---|---|---|---|---|---|
| All figures in NOK 1000 | 4-6 | 4-6 | % | 1-6 | 1-6 | % | 1-12 |
| Profit & Loss | |||||||
| Sales revenue | 114 335 | 114 811 | 0 % | 228 272 | 227 216 | 0 % | 439 845 |
| Gross profit 1 | 94 562 | 92 932 | 2 % | 190 291 | 187 509 | 1 % | 363 919 |
| EBITDA | 9 877 | 6 586 | 50 % | 17 611 | 14 429 | 22 % | 25 233 |
| EBITDA margin | 8,6 % | 5,7 % | 7,7 % | 6,4 % | 5,7 % | ||
| Operating profit (EBIT) before non-recurring items | 4 675 | 1 168 | 300 % | 7 513 | 3 613 | 108 % | 3 826 |
| EBIT margin before non-recurring items | 4,1 % | 1,0 % | 3,3 % | 1,6 % | 0,9 % | ||
| Operating profit (EBIT) | 2 909 | 1 168 | 149 % | 3 781 | 3 613 | 5 % | 158 |
| EBIT margin | 2,5 % | 1,0 % | 1,7 % | 1,6 % | 0,0 % | ||
| Profit before taxes | 3 597 | 988 | 264 % | 3 688 | 3 314 | 11 % | -1 554 |
| Profit for the period | 2 626 | 721 | 264 % | 2 692 | 2 419 | 11 % | -4 947 |
| Balance sheet | |||||||
| Non-current assets | 44 322 | 54 534 | 44 322 | 54 534 | 48 604 | ||
| Bank deposits | 43 729 | 32 284 | 43 729 | 32 284 | 67 189 | ||
| Current assets | 148 593 | 126 605 | 148 593 | 126 605 | 156 331 | ||
| Total assets | 192 915 | 181 139 | 192 915 | 181 139 | 204 935 | ||
| Equity | 55 750 | 59 485 | 55 750 | 59 485 | 53 868 | ||
| Total current liabilities | 122 855 | 102 953 | 122 855 | 102 953 | 135 035 | ||
| Equity ratio | 28,9 % | 32,8 % | 28,9 % | 32,8 % | 26,3 % | ||
| Current ratio | 1,21 | 1,23 | 1,21 | 1,23 | 1,16 | ||
| Cash flow | |||||||
| Net cash flow from operating activities |
-6 557 | 12 958 | -14 651 | 2 224 | 45 846 | ||
| Net cash flow | -10 317 | -20 768 | -23 460 | -35 674 | -770 | ||
| Share information | |||||||
| Number of shares | 82 186 624 | 82 186 624 | 82 186 624 | 82 186 624 | 82 186 624 | ||
| Weighted average basic shares outstanding | 82 186 624 | 82 186 624 | 82 186 624 | 82 186 624 | 82 186 624 | ||
| Weighted average diluted shares outstanding | 82 186 624 | 82 186 624 | 82 186 624 | 82 186 624 | 82 186 624 | ||
| EBIT per share | 0,03 | 0,01 | 264 % | 0,03 | 0,03 | 11 % | -0,06 |
| Diluted EBIT per share | 0,03 | 0,01 | 264 % | 0,03 | 0,03 | 11 % | -0,06 |
| EBITDA per share | 0,12 | 0,08 | 50 % | 0,21 | 0,18 | 22 % | 0,31 |
| Equity per share | 0,68 | 0,72 | -6 % | 0,68 | 0,72 | -6 % | 0,66 |
| Dividend per share | 0,00 | 0,06 | -100 % | 0,00 | 0,06 | -100 % | 0,35 |
| Employees | |||||||
| Number of employees at the end of the period | 423 | 465 | -9 % | 423 | 465 | -9 % | 447 |
| Average number of employees | 428 | 463 | -8 % | 434 | 462 | -6 % | 458 |
| Operating revenue per employee | 267 | 248 | 8 % | 526 | 492 | 7 % | 960 |
| Gross profit 1 per employee | 221 | 201 | 10 % | 438 | 406 | 8 % | 795 |
| Personnel expenses per employee | 166 | 160 | 4 % | 340 | 322 | 5 % | 630 |
| Other operating expenses per employee | 32 | 27 | 22 % | 58 | 52 | 11 % | 109 |
| EBITDA per employee | 23 | 14 | 62 % | 41 | 31 | 30 % | 55 |
| EBIT per employee | 7 | 3 | 170 % | 9 | 8 | 11 % | 0 |
EBITDA
EBITDA margin
Itera.no Sognsveien 77 A-B Pb. 3834 Ullevål Stadion, 0805 Oslo TLF +47 23 00 76 50 [email protected]
Konsernsjef Tlf +47 23 00 76 50 Mob. +47 905 23172 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.