Investor relations
Itera ASA was listed on Oslo Stock Exchange 27 January 1999. The ticker code is ITERA.
Bent Hammer
CFO
OVERVIEW
1. CEO Comment
2. Financial calendar 2023
3. Reports and presentations
4. The Itera Share
5. Board of Directors
After Russia’s invasion of Ukraine on 24th of February, no one could imagine that we would deliver organic growth of 29 % and an operating EBIT margin of 9.5% in the fourth quarter. I have never been so proud of how our great people navigate any kind of challenges the invasion represents.
Arne Mjøs
CEO
| Financial calendar 2023 | ||
| Financial disclosure report | Date | Location |
|---|---|---|
| Q1 2023 | 11.05.2023 | Nationaltheatret Konferansesenter |
| General Meeting | 24.05.2023 | Itera, Oslo |
| H1 2022 | 24.08.2023 | Nationaltheatret Konferansesenter |
| Q3 2023 | 27.10.2023 | Nationaltheatret Konferansesenter |
| Q4 and preliminary year end 2023 | 15.02.2024 | Nationaltheatret Konferansesenter |
Reports and presentations
Itera announces its quarterly presentations both through Oslo Stock Exchange and on the Company's website. The reports are presented by CEO Arne Mjøs and CFO Bent Hammer, and take place in Oslo. All presentations start at 8.30 a.m, and can be followed through a webcast. Please consult the financial calendar for coming presentations. Please note that the Company reserves the right to change dates.
Open files in Adobe Acrobat for an optimal reading experience
Annual Report 2021 – Our results
Annual Report 2021 – People, growth & sustainability
Remuneration Report 2021
Notice Annual General Meeting 2021 (English)
Notice Annual General Meeting 2021 (Norwegian)
Nomination Committee’s recommendation 2021 (Norwegian)
Executive Remuneration Policy 2021 (English)
General Assembly Protocols
The Itera Share
| The Itera Share | |||||
| 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|
| Earnings per outstanding share (NOK) | 0.76 | 0.73 | 0.60 | 0.51 | 0.39 |
| Operating cash flow per share (NOK) | 1.10 | 1.08 | 1.21 | 0.97 | 0.69 |
| Dividends paid per share (NOK) | 0.50 | 0.35 | 0.60 | 0.55 | 0.25 |
| No. of shares (1000) at year end | 82 187 | 82 187 | 82 187 | 82 187 | 82 187 |
| Avg. no. of shares (1000) | 80 852 | 80 688 | 80 983 | 81 244 | 81 087 |
| Share price | 13.45 | 15.25 | 15.00 | 11.5 | 8.4 |
| Price / book equity | 22.4 | 31.7 | 35.9 | 20.4 | 11.3 |
| Market Capitalisation (MNOK) | 1 105 | 1 253.4 | 1 232.8 | 945.1 | 690.4 |
| 2022* | 2021* | 2020 | 2019 | 2018 | |
| Operating revenue, MNOK | 735.8 | 593.0 | 619.1 | 560.3 | 531.3 |
| Operating profit (EBIT), MNOK | 77.2 | 77.0 | 62.6 | 56.2 | 42.8 |
| Operating margin (EBIT), % | 10.5% | 13.0% | 10.1% | 10.0% | 8.1% |
| Number of employees (period end) | 698 | 617 | 569 | 512 | 486 |
*) Excluding discontinued operations
| Year | Dividend | Date |
| 2022 | NOK 0.30 | 26.10.2022 |
| 2021 | NOK 0.20 | 24.05.2022 |
| 2020 | NOK 0.10 | 26.10.2021 |
| 2020 | NOK 0.25 | 25.05.2021 |
| 2019 | NOK 0.40 | 28.10.2020 |
| 2019 | NOK 0.20 | 25.05.2020 |
| 2018 | NOK 0.30 | 25.10.2019 |
| 2018 | NOK 0.25 | 22.05.2019 |
| 2017 | NOK 0.25 | 23.05.2018 |
| 2016 | NOK 0.25 | 25.10.2017 |
| 2016 | NOK 0.18 | 23.05.2017 |
| 2015 | NOK 0.15 | 21.10.2016 |
| 2015 | NOK 0.12 | 24.05.2016 |
| 2014 | NOK 0.15 | 29.10.2015 |
| 2013 | NOK 0.35 | 23.05.2014 |
| 2012 | NOK 0.06 | 24.05.2013 |
| 2010 | NOK 0.10 | 27.05.2011 |
| 2009 | NOK 0.20 | 20.05.2010 |
| 2008 | NOK 0.20 | 25.05.2009 |
| 2007 | NOK 0.50 | 23.05.2008 |
Investor Relations Policy
Itera treats all shareholders equally concerning information relevant to the share price, and publishes all information relevant to the share price through the notification system of Oslo Stock Exchange, with additional publishing on the company website.
At the website the company also publishes the quarterly reports on-line through webcast. The company follows the Oslo Stock Exchange's recommendation concerning the reporting of IR information.
Corporate Governance
Itera ASA (the company) complies with the Norwegian Code of Practice for Corporate Governance. There are no significant deviations between the Code of Practice and the way it is implemented in the company.
The company's corporate governance principles are adopted by the Board of Directors and ensure an appropriate division of roles and responsibility and well-functioning cooperation among the company's shareholders, the Board of Directors (the Board) and its senior management, and that the company's activities are subject to satisfactory control. An appropriate division of roles, effective cooperation, and satisfactory control contribute to the best possible value creation over time, to the benefit of owners and other stakeholders. The Corporate Governance principles are further described in Itera's annual report.
Code of Business Ethics
Itera's code of ethics addresses impartiality, conflicts of interests, relation with customers and suppliers, relations with media, insider trading and relevant financial interests of a personal nature. The code of ethics applies to all employees in Itera.
| Shareholding | % | Name | Nationality |
| 25 763 031 | 31,35 | ARNE MJØS INVEST AS* | NOR |
| 4 605 242 | 5,60 | OP CAPITAL AS | NOR |
| 4 217 870 | 5,13 | GIP AS | NOR |
| 3 212 685 | 3,91 | SEPTIM CONSULTING AS | NOR |
| 2 849 362 | 3,47 | BOINVESTERING AS | NOR |
| 2 750 000 | 3,35 | EIKESTAD AS | NOR |
| 2 572 570 | 3,13 | GAMST INVEST AS | NOR |
| 2 200 000 | 2,68 | JØSYRA INVEST AS | NOR |
| 1 884 256 | 2,29 | DZ PRIVATBANK S.A. | LUX |
| 1 619 102 | 1,97 | ITERA ASA | NOR |
| 1 597 853 | 1,94 | DnB NOR Bank ASA | NOR |
| 1 144 356 | 1,39 | JON ERIK HØGBERG | NOR |
| 950 000 | 1,16 | AANESTAD PANAGRI AS | NOR |
| 900 000 | 1,10 | FRAMAR INVEST AS | NOR |
| 700 000 | 0,85 | ALTEA PROPERTY DEVELOPMENT AS | NOR |
| 680 000 | 0,83 | JETMUND GUNNAR NYVANG | NOR |
| 632 900 | 0,77 | LARS PETER JENSEN | NOR |
| 622 678 | 0,76 | KIM-KJETIL GRØSLAND | NOR |
| 600 000 | 0,73 | MORTEN JOHNSEN HOLDING AS | NOR |
| 540 786 | 0,66 | SOBER KAPITAL AS | NOR |
| 60 042 691 | 73,06 | SUM TOP 20 | |
| 82 186 624 | 100 | TOTAL |
Last updated: 17.03.2023
*Arne Mjøs Invest AS holds a future contract expiring 16 June 2023 on 1,600,000 shares at an average price of NOK 8.8421 per share. The total controlling interest of Arne Mjøs is thus 27,363,031 shares (33.3%).
Shareholdings owned directly or indirectly, and stock options held by the Executive Management.
| Name | Position | Share | Stock Options |
| Arne Mjøs* | CEO | 25 163 031 | 0 |
| Bent Hammer | CFO | 513 693 | 200 000 |
| Jon Erik Høgberg | COO | 1 144 356 | 0 |
| Anine Ragnif | COO Norway | 50 887 | 180 000 |
| Mette Mowinckel | CHRO | 76 911 | 100 000 |
*Arne Mjøs Invest AS holds a future contract expiring 16 June 2023 on 1,600,000 shares at an average price of NOK 8.8421 per share. The total controlling interest of Arne Mjøs is thus 27,363,031 shares (33.3%).
Shareholdings owned directly or indirectly, and stock options held by the Board.
| Name | Position | Shares | Stock Options |
| Jan Erik Karlsson | Board Member | 320 376 | 0 |
| Marianne Killengreen | Board Member | 0 | 0 |
| Morten Thorkildsen | Chairman of the Board | 66 998 | 0 |
| Gyrid S. Ingerød | Board Member | 38 000 | 0 |
| Siren Tønnesen | Board Member (Employee elected) | 0 | 30 000 |
| Joachim Trøbråten | Board Member (Employee elected) | 40 492 | 150 000 |
| Lise Eastgate | Observer in the board | 10 739 | 30 000 |
Pareto Securities AS
Olav Rødevand
Equity Research Analyst
Mob.: (+47) 22 87 87 30
E-mail : olav.rodevand@paretosec.com
Sparebank 1 Markets AS
Petter Kongslie
Equity Analyst
Tlf. dir.: (+47) 24 14 74 96
Mob.: (+47) 98 41 10 80
E-mail: petter.kongslie@sb1markets.no
Board of Directors
Morten Thorkildsen
Chairman of the board
He has held various board positions, including chairman of the board of Sykehuspartner, board member of Data Respons ASA, chairman of the Norwegian Computer Association, and board member of ICT Norway.
He currently runs his own management consulting company. Morten holds an MBA degree from Handelshøyskolen BI Norwegian Business School, in management, finance, marketing and strategy from BI School of Management and a bachelor’s degree in Business Organisation from the Heriott-Watt University.
Marianne Killengreen
Member of the board
In addition to 8 years working for the Norwegian tax authorities, Marianne has worked in several law firms and as a partner in the law firm Hodneland from 2004, Managing Partner at BDO Advokater AS (2010-2016) and from 2016 Partner.
She has also held a number of board positions. Marianne has a Master of Law degree.
He has held various board positions, including chairman of the board of Sykehuspartner, board member of Data Respons ASA, chairman of the Norwegian Computer Association, and board member of ICT Norway.
He currently runs his own management consulting company. Morten holds an MBA degree from Handelshøyskolen BI Norwegian Business School, in management, finance, marketing and strategy from BI School of Management and a bachelor’s degree in Business Organisation from the Heriott-Watt University.
In addition to 8 years working for the Norwegian tax authorities, Marianne has worked in several law firms and as a partner in the law firm Hodneland from 2004, Managing Partner at BDO Advokater AS (2010-2016) and from 2016 Partner.
She has also held a number of board positions. Marianne has a Master of Law degree.
Gyrid Ingerø
Member of the board
She has previously held the position as CFO in Telenor Digital Businesses, Telenor Norge, Opplysningen 1881, Komplett Group and Reiten & Co. Prior to the CFO positions, Gyrid worked for eight years in KPMG and a few years in Nordea.
Gyrid holds a master’s degree in Accounting and Auditing from NHH Norwegian School of Economics.
Siren Tønnesen
Member of the board (employee elected)
Siren has more than ten years of experience in creating value from data and using data for actionable insight.
She has previously held the position as CFO in Telenor Digital Businesses, Telenor Norge, Opplysningen 1881, Komplett Group and Reiten & Co. Prior to the CFO positions, Gyrid worked for eight years in KPMG and a few years in Nordea.
Gyrid holds a master’s degree in Accounting and Auditing from NHH Norwegian School of Economics.
Jan-Erik Karlsson
Member of the board
At Programmator, he held leading positions until the company was sold to Capgemini in 1992.
After that, he has had various managing positions in Capgemini's Nordic organisation until 2010, where he spent five years as the leader of Capgemini Norway and five years as the leader of Capgemini Sweden.
Joachim Trøbråten
Member of the board (employee elected)
Joachim holds a MSc degree in Management and worked with branding and strategic marketing for Orkla in the FMCG business prior to moving to Itera. He enjoys working in the consultancy business due to its inherent people centricity and the opportunities that this creates. He thrives on solving complex issues for his customers and is passionate about sustainability.
At Programmator, he held leading positions until the company was sold to Capgemini in 1992.
After that, he has had various managing positions in Capgemini's Nordic organisation until 2010, where he spent five years as the leader of Capgemini Norway and five years as the leader of Capgemini Sweden.
Joachim holds a MSc degree in Management and worked with branding and strategic marketing for Orkla in the FMCG business prior to moving to Itera. He enjoys working in the consultancy business due to its inherent people centricity and the opportunities that this creates. He thrives on solving complex issues for his customers and is passionate about sustainability.
Shareholders may at any time propose candidates to the Board of Directors and the Nomination Committee of Itera ASA. Proposals can be submitted to the administration by sending an e-mail to the CFO at bent.hammer@itera.com.
The e-mail should include the following information:
- Proposed candidate (full name)
- Which of the governing bodies the candidate is proposed for
- The candidate’s relevant experience and professional qualifications
- The shareholder submitting the proposal (full name)
- Number of shares held in Itera ASA by the shareholder submitting the proposal
Members of the Board of Directors and the Nomination Committee are elected for a term of up to two years. If supplementary elections of members are needed between election periods, new candidates will be assessed accordingly. Proposed candidates will be submitted to the Chair of the Nomination Committee prior to election of new members. Itera reserves the right to reject proposals without stating the reason.