Slide 1: Interim Report Itera
INTERIM REPORT ITERA vz07~
Slide 2: Q4 Report 2024 agenda
Q4 REPORT 2024 ITERA 1. Highlights of the quarter 2. Business review 3. Financial review Arne Mjøs Bent Hammer 4. Outlook CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER 5. Q&A
Slide 3: Highlights Q4 2024
Q4 REPORT 2024 ITERA 1 Highlights Q4 2024
Slide 4: Highlights
Q4 REPORT 2024 ITERA Highlights Bergen Engines New frame Successful enters Uk raine agreement with opening of offi ce with Itera Gjensidige in Rogaland “Itera has been instrumental to position As a long-standing partner of Gjensidige, We successfully established our new Bergen Engines products and s
Slide 5: Q4 in brief
Q4 REPORT 2024 ITERA Q4 in brief Market Order intake Ukraine Rogaland office -4% Market activity seems to be improving after a slow-down Seasonal variations in order intake with book-to-bill of 1.4 in Q4 and 1.0 last 12 Business advisory services under “Enter Ukraine” are beginning to yield results
Slide 6: Key figures
Q4 REPORT 2024 ITERA Key figures Q4 FY Q4 Q4 FY -4% -3% -4% 5.6% 6.2% Organic revenue Growth in number of Adjusted EBIT margin growth employees last 12 months
Slide 7: Business review
Q4 REPORT 2024 ITERA 2 Business review
Slide 8: We are specialists in sustainable digital transformation
Q4 REPORT 2024 ITERA We are specialists in sustainable digital transformation Nordic origin. Global reach We are growing together with international customers and partners Reykjavik based on our ONE Itera model across Bergen Oslo borders. Stavanger Stockholm Bryne Our Digital Factory with cross-func
Slide 9: Digital and Business Transformation through AI
Q4 REPORT 2024 ITERA Digital and Business Transformation through AI Fusion Technology fully business Business value integrated Innovation Differentiator Product Streamlined cloud product development Legacy+ Platform Legacy IT stagnant, Operationalised On-Premise, scattered cloud cloud Business not i
Slide 10: Data and AI must be addressed holistically to scale value
Data and AI must be addressed holistically to scale value Business value Where and how Data and AI will create value, ambitions and targets Operating model Competence and Data-quality and Ethical and and governance Culture accessibility responsible use Clear roles, responsibilities, Competence devel
Slide 11: Itera re-selected as the digitalisation partner for Gjensidige
Itera re-selected as the digitalisation partner for Gjensidige Gjensidige has entered into a new framework agreement with Itera, as their strategic digitalisation partner for a minimum of three additional years. For over two decades, we have proudly supported Gjensidige on their digital transformati
Slide 12: Bergen Engines enters Ukraine – with Itera
Bergen Engines enters Ukraine – with Itera As part of the program "Enter Ukraine with Itera", we have supported Bergen Engines to position their products and services in the Ukrainian market and secure funding. During the fourth quarter of 2024, Bergen Engines successfully signed two significant con
Slide 13: Recognition by UN Sustainability Award
Q4 REPORT 2024 ITERA Recognition by UN Sustainability Award A significant achievement in the fourth quarter was the recognition of the Itera Employee Foundation as a finalist for the UN Sustainability Award in Digitalisation. The award recognises the collective efforts of businesses, governments, an
Slide 14: Order intake
Q4 REPORT 2024 ITERA Order intake Order intake from selected new and existing customers. Book-to-bill ratio*) of 1.4 in Q4 and 1.0 for the last 12 months. *) The book-to-bill ratio is the ratio of orders received to the amount of revenue for a specific period for Itera units
Slide 15: Customer mix
Q4 REPORT 2024 ITERA Customer mix Share existing customers High visibility Revenue customers split (in MNOK) 86.5% (93.9%) 77% (84%) of revenues in Q4 2024 Top 30 customers, share of revenue New customers High customer concentration signifies 28.7 (1 3.5) ▪ ▪ Strategic relationships Full range of se
Slide 16: Skilled and innovative employees
Q4 REPORT 2024 ITERA Skilled and innovative Number of employees end of quarter by shore employees 725 (758) employees at the end of the quarter Down by 33 last twelve months as part of the business optimisation program. 21 employees from acquired companies. Nearshore ratio of 50% (51%) Our distribut
Slide 17: Financial review
Q4 REPORT 2024 ITERA 3 Financial review
Slide 18: Key financials
Q4 REPORT 2024 ITERA Key financials Revenue decrease of 4% in Q4 2024 2023 Change 2024 2023 Change NOK Million 10-12 10-12 % 1-12 1-12 % • Billable utilisation still soft but improving Operating revenue 212.2 222.1 -4% 849.1 871.6 -3% • Enter Ukraine with Itera new revenue Gross profit 196.5 206.2 -
Slide 19: Revenue and EBIT development
Q4 REPORT 2024 ITERA Revenue and EBIT development Revenue in NOK millions Opportunities for revenue and margin expansion ▪ Conversion of promising pipeline ▪ Normalisation of utilisation ▪ Increasing recurring revenue and cloud migration and modernisation driven by AI and security ▪ Expansion in Swe
Slide 20: Revenue by type
Q4 REPORT 2024 ITERA Revenue by type Revenue decrease of 4% in Q4 • Revenue from own consultants decreased by 6% to NOK 174 million with a weighted 0.1 fewer working days • Revenue from subscription services increased by 8% to NOK 20 million • Revenue from third-party services decreased by 9% to NOK
Slide 21: EBITDA to Cash conversion
Q4 REPORT 2024 ITERA Cash flow Quarterly cash flow from operations EBITDA to Cash conversion Cash flow from operations ▪ MNOK 45.3 (57.2) in Q4 2024 ▪ MNOK 73.7 (95.7) in FY 2024 Cash flow from investing activities ▪ MNOK -1.5 (-3.9) in Q4 2024 ▪ MNOK -8.8 (-19.4) in FY 2024 EBITDA to Cash conversio
Slide 22: Dividend and own shares
Q4 REPORT 2024 ITERA Dividend and own shares ▪ A supplementary dividend of NOK 0.20 per Allocations to shareholders share for 2023 paid 6 Dec 2024 ▪ Ordinary dividend of NOK 0.40 paid in June ▪ Proposed ordinary dividend of NOK 0.20 for 2024, to be decided in AGM in May ▪ Share price was NOK 8.94 at
Slide 23: Outlook
Q4 REPORT 2024 ITERA 4 Outlook
Slide 24: Outlook
Q4 REPORT 2024 ITERA Outlook Underlying strong Readiness to migrate Growth opportunities Connecting Ukraine Profitable growth demand for digital and operate larger through new and the Nordics to and cash flow are transformation with scale cloud Rogaland office enable the green key focus areas. the m
Slide 25: Q&A
Q4 REPORT 2024 ITERA 5 Q&A
Slide 26: Top shareholders
Q4 REPORT 2024 ITERA Top 20 shareholders No. Name % Nat. Shareholding 1 ARNE MJØS INVEST AS 33.29 NOR 27 363 031 2 OP CAPITAL AS 5.75 NOR 4 726 242 3 GIP AS 5.39 NOR 4 430 000 4 SEPTIM CONSULTING AS 5.21 NOR 4 280 000 5 BOINVESTERING AS 3.84 NOR 3 152 862 6 GAMST INVEST AS 3.36 NOR 2 758 057 7 JØSYR